Nigel Farage has relinquished sole control of Reform UK, with the party’s members now being «handed over ownership» following a vote last year, according to its chairman. The party, led by Mr Farage, was previously controlled by the Clacton MP as he held a majority of shares in the company.
According to the party’s new constitution, a board will be established to lead and direct the party, with members voting in an advisory capacity on policies at the annual conference. Members also have the authority to call an «extraordinary general meeting» and launch no-confidence motions in the party leader.
In a statement, Reform chairman Zia Yusuf stated: «We are pleased to announce that, as promised, Nigel Farage has transferred ownership of Reform UK to its members. Reform UK is now a non-profit organization, with no shareholders, limited by guarantee. We are putting together the governing board, in accordance with the constitution. This was a significant step in professionalizing the party. We will have more exciting announcements about Reform UK as we prepare for government.»
Documents filed with Companies House reveal that all shareholders in Reform UK Party Limited have relinquished their shares and control of the organization. Instead, a limited company named Reform 2025 Ltd is listed as being in control of the party. Reform 2025 Ltd has two directors – Mr Farage and Mr Yusuf – but no shareholders or persons with significant control. This structure is similar to the Labour Party, while the Conservatives and Liberal Democrats seem to have controlling leaders or chairs.
According to the party’s website, Reform UK boasts over 211,000 members, nearly double the Conservative membership. Mr Farage aims to surpass Labour, which has around 309,000 members. In the last general election, the party secured five seats with 4.1 million votes. In comparison, the Liberal Democrats won 72 seats with 3.5 million votes, highlighting a discrepancy due to the concentration of votes in certain areas.
Recent polling indicates that Reform is perceived as stronger than Labour on various topics among voters, including trustworthiness, strength, and a «clear sense of purpose.» Earlier in February, the party topped a voter intention poll for the first time.
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