Starmer latest: PM will not block Burnham from by-election despite paving way for Labour leadership challenge

The cryptocurrency investor behind a £5 million gift to Reform UK leader Nigel Farage has been identified as one of Britain’s wealthiest billionaires, according to the latest Sunday Times Rich List.

The annual list of the Britain’s richest people has also shone a light on the growing fortunes of tech and finance entrepreneurs.

Christopher Harborne, who has broken records for his political donations to Reform, was a new entrant on the 2026 list.

The entrepreneur and investor came in at sixth place with an estimated wealth of £18.2 billion.

While living and working in Thailand for more than 20 years, the British billionaire has grown investments and shareholdings in financial companies including Tether, the crypto platform with an estimated valuation of roughly $200 billion.

He also has major investments in London-listed defence technology firm Qinetiq and payments provider IFX, as well as other aerospace businesses.

It is understood that Mr Harborne’s wealth could be larger than that estimated by the Rich List as some is held overseas or could not be identified by the researchers.

In his resignation letter, Mr Streeting blamed the “unprecedented” election results in part on “the unpopularity of this Government”, adding: “There are many reasons we could point to: from individual mistakes on policy like the decision to cut the winter fuel allowance to the ‘island of strangers’ speech, all of which have left the country not knowing who we are or what we really stand for.”

But a year ago, he defended cutting the winter fuel allowance, arguing the money saved had been invested in the NHS and in improving schools:

By political editor David Maddox:

Scottish Labour has not ruled out letting Andy Burnham run to become an MP in Scotland in order to oust Sir Keir Starmer.

Asked whether the Greater Manchester mayor could run in a by-election north of the border, Dame Jackie Baillie, Scottish Labour deputy leader and a member of the NEC, said: “You’ll just need to wait until after the NEC meeting on Tuesday.”

Luke Charters, MP for York Outer, has thrown his support behind Manchester mayor Andy Burnham and has said that he must not be blocked from standing for election in Makerfield after Josh Simons stepped down.

“Josh is an MP and a dad to young kids, just like me,” Mr Charters wrote in a post on X on Thursday.

“He’s helped to prove that parenthood and politics can mix, and break down barriers for working dads. I wish him the very best.

“We are in a battle for the heart and soul of this country against right-wing populism. So this by-election is one we absolutely must go on to win.

“As a proud Northerner, I want somebody to run who can stand up and fight for our progressive values against Reform in Makerfield.

“Andy Burnham must therefore be given the opportunity to stand, and must not be blocked, so that we can come together to send Reform packing.”