Nigel Farage quits as MP amid scrutiny over finances

Nigel Farage has announced he is to resign as the MP for Clacton, and fight the resulting byelection, while revealing he is under a second investigation by the parliamentary standards watchdog over undeclared gifts.In a high-stakes move, the Reform UK leader said it was part of “sticking two fingers up at the establishment” and it would prove that the public wanted him to stay on as an MP.Farage revealed his intentions in a defiant address, claiming the establishment was out to prevent a Reform government and accusing the media of a “pile-on” and of harassing his family.Nigel Farage confronts Sky News reporter after question over finances – videoHe said he was not quitting for the US or to go back into business, but that he refused to be judged by the media and would resign to fight for his seat again.Farage has been the subject of a standards inquiry after he did not make public a £5m gift from the billionaire crypto investor Christopher Harborne before the last election, as revealed by the Guardian in April.He said on Tuesday there was now another inquiry over allegations that he was financially supported by the crypto gambler and convicted fraudster George Cottrell, who is a close friend.His resignation as an MP means the inquiries will probably be paused, but could potentially be resumed if deemed proportionate after the byelection. If he were to be suspended as a result, there could even be a second byelection after that.In his statement, Farage said: “I thought about it hard and I’ve decided today I will resign as a member of parliament for Clacton-on-Sea, thereby forcing a byelection … I’ve decided that the people of Clacton should be the judges of my actions.“This will be a people versus the establishment byelection. It’s a chance to stick two fingers up to the entire establishment to frankly tell them where to go and that is why I will be putting my name forward to stand in this byelection.skip past newsletter promotionafter newsletter promotion“I will fight to win. I will fight to continue the political revolution that Reform has started and I would say this to you, the voters of Clacton: If I win, you win.”Farage won the seat with a majority of 8,400 in 2024 with the Conservatives coming second and Labour third.However, he could face a wave of tactical voting against him if there were to be an alliance of progressive parties, and a concerted effort against him by the even further right Restore Britain, led by the former Reform MP Rupert Lowe.