Malcolm Offord, the yacht-racing, classic-car-collecting financier hand-picked by Nigel Farage to lead Reform UK in Scotland, stood in front of reporters in Kirkcaldy and bluntly refused to say how rich he is. The man who bought a £1.6 million Loch Lomond mansion in cash told journalists his personal fortune is “not of any relevance to anybody”. With the Holyrood election just months away, the refusal has instantly become the first big controversy of Reform’s Scottish campaign.
From Tory Peer to Reform Firebrand
Offord was made a life peer by David Cameron in 2021 and served as a junior Scotland Office minister under Boris Johnson. The 60-year-old former investment banker at Charterhouse has never hidden his wealth: he races yachts at Cowes Week, owns a growing collection of classic cars, and paid cash for Garvel House, a sprawling Victorian mansion overlooking Loch Lomond, in 2023.
On Wednesday he dramatically “retired” from the House of Lords by signing a letter with Nigel Farage stating he would no longer attend or use the title Lord Offord of Garvel. Life peerages cannot actually be surrendered without an Act of Parliament, but the symbolic move clears the way for him to stand as an MSP in May 2026.
Farage hailed him as proof Reform is attracting “successful people who want to give something back”. Offord described himself as “a local guy who went off and made a bit of dosh” before returning to fix a country he believes is badly run.
The Question He Wouldn’t Answer
Pressed repeatedly on whether he would publish his net worth or tax returns before the election, Offord shut the door.
“I’m not talking about my net worth. That’s not something you pluck out of the air because your assets are not easily valued,” he said.
He dismissed suggestions that voters struggling with the cost-of-living crisis might want to know how wealthy their political leaders are as “very patronising”.
“I mix with a whole range of people across Scotland, from the most disadvantaged to the top. I’ll talk on equal terms to all of them,” he added.
Holyrood’s register of interests is far stricter than the House of Lords. Any successful Reform candidate will have to declare properties, shareholdings, directorships, and gifts. Offord insisted that will be enough.
Reform’s Scottish Surge in the Polls
The latest Survation poll for True North, published on Thursday, shows Reform UK breathing down Labour’s neck north of the border.
Constituency vote shares:
- SNP – 34%
- Reform UK – 19%
- Labour – 16%
- Conservatives – 14%
- Liberal Democrats – 8%
- Greens – 6%
Regional list vote (which decides most seats):
- SNP – 28%
- Reform UK – 18%
- Labour – 18%
- Conservatives – 13%
The numbers suggest Reform could pick up as many as 18 seats, matching Labour and leaving the SNP short of an overall majority.
Farage says the party will stand candidates in almost every constituency and has already signed up midwives, teachers, doctors, and even a procurator fiscal. “Real, authentic people,” Offord called them.
Political Reaction Swift and Brutal
Scottish Conservative leader Russell Findlay declined to comment directly, but UK party leader Kemi Badenoch was scathing.
“Malcolm Offord is all about himself. He’s never delivered a single leaflet. I’m not worried,” she said in Edinburgh.
SNP campaign sources called the appointment “the ultimate proof that Reform UK is just the toxic Tory party in a different coloured tie”.
Scottish Labour deputy leader Jackie Baillie said voters “deserve to know exactly who is bankrolling Farage’s Scottish operation and how much they stand to gain”.
What Happens Next
Reform UK has never won a seat at Holyrood. Ten weeks ago most analysts gave them little chance of winning any. The Survation poll has changed that calculation overnight.
Whether voters ultimately care more about Offord’s wealth or about immigration, tax, and the NHS – the issues Reform is hammering – will decide if the party really can become the second force in Scottish politics.
One thing is already clear: Malcolm Offord has made sure everyone in Scotland is talking about Reform UK this weekend.
What do you think? Will Offord’s millions help or hurt Reform’s chances in May? Drop your thoughts below.
