'I no longer need to control this party': Farage gives up ownership of Reform UK ahead of conference
Nigel Farage has said he is "relinquishing" control of Reform UK as he gives up his majority shareholder position, a week before the party's annual conference.
"I’ve now made a decision. I no longer need to control this party. I’m going to let go," the 60-year-old MP said in a video posted on X.
“We will change the structure of the party from one limited by shares to a company limited by guarantee, and that means it’s the members of Reform that will own this party."
Farage currently owns more than 50% of the party's shares.
He added: “I am relinquishing control of the company, and indeed of the overall control of the party, it’s now going to be the members, and that, I think, is the right thing, and it’s the right thing because this conference marks the coming of age of Reform UK, and that’s something that I’m very, very excited about.”
Companies House lists Farage as party leader, and Richard Tice as deputy leader.
At July’s general election, Reform gained five MPs in Parliament after receiving 14% of the vote share.
Reform faced criticism over its election campaign for racist or xenophobic comments made on social media by its candidates.
Farage then vowed he would “professionalise” the party to aim to become the official opposition in 2029.
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He said that establishing Reform UK Limited was "necessary" to enable him to "make very fast decisions."
The Clacton MP said: “Secondly, and most importantly, the real reason was to prevent a small, nascent political party being taken over by malign actors, and that was my really big fear, but we’ve moved on.”
Former party deputy leader Ben Habib posted a video to X and said he had been advocating for the democratisation of the party behind the scenes “for many years”.
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