Former Tory Chancellor Nadhim Zahawi joins Reform UK

Mr Zahawi - who once likened Nigel Farage to Goebbels - became the party’s highest-profile defection at a press conference in London on Monday morning.

He said Britain was “drinking at the last chance saloon” and “really does need Nigel Farage as prime minister”.

This was despite previously saying he would be “frightened to live in a country run by” Mr Farage.

Conservative sources said his move followed repeated requests from Mr Zahawi for a peerage from his old party, which had been refused.

A Tory source said: “Nadhim asked for a peerage several times. Given he was sacked for his dodgy tax affairs, this was never going to happen.

“His defection tells you everything you need to know about Reform being a repository for disgraced politicians.”

Mr Zahawi served in the cabinets of Boris Johnson, Liz Truss and Rishi Sunak.

The ex- Stratford-upon-Avon MP was chancellor for three months in 2022 and led the UK’s vaccine roll out during the pandemic.

He was appointed chancellor on July 5, 2022 but called for Mr Johnson’s resignation less than 48 hours later.

He stood in the following leadership contest but did not secure the support of 30 MPs required to reach the second round. He then endorsed Ms Truss.

Mr Zahawi was sacked as Conservative Party chairman in 2023 after he was found to have breached the ministerial code over his tax affairs.

He later confirmed he paid a nearly £5 million penalty to HMRC in order to settle the matter.

Mr Zahawi called Mr Farage “deeply racist” in 2015 and likened him to Nazi propagandist Josef Goebbels after the then UKIP leader said employers should be allowed to discriminate by colour.

The Iraqi-born MP, who co-founded the YouGov polling company, later said: “It’s a remark that Goebbels would be proud of.

“I came here from Iraq, but I absolutely feel British and proud of it. To be told this man could run the country and discriminate against you in eight weeks’ time is frightening. I am disgusted by that.”

Mr Zahawi had said in another tweet in 2015: “I’m not British born Mr Farage, I am as British as you are.

“Your comments are offensive and racist. I would be frightened to live in a country run by you.”

At Monday’s press conference Mr Zahawi laughed off questions about his previous comments, telling reporters: “Good on you for digging out tweets from 11 years ago”.

But he reacted angrily when asked if he was comfortable with Reform UK’s conference hosting a speaker who said the King’s cancer was caused by the covid vaccine.

He replied: “That was a really stupid question and it doesn’t even deserve an answer. So try better next time.”

Mr Farage backed Mr Zahawi over his tax affairs which previously got him booted from Cabinet. He said: “There’s nobody with a complex business empire that does not have to have negotiations at some point with HMRC.

“That is how the world works, and I’d much rather have Nadhim who has been through that experience and come out the other end.

“He could have just gone abroad. He could have just disappeared for a few years, not paid any tax, which by the way, increasingly is what people are doing.”