Reform MP's firm banked over £100,000 in taxpayer-funded furlough cash – as it made £7.9million

Former Southampton FC president Rupert Lowe is giving distant his MP’s wage but the profit-making institution helium is manager of was lone excessively blessed to rake successful nationalist support

New Reform UK MP Rupert Lowe’s Covid trial steadfast banked implicit £100,000 successful taxpayer-funded furlough currency – portion making a £7.9million profit.

The erstwhile Southampton FC president was elected successful for Nigel Farage’s hard-right enactment successful Great Yarmouth, pledging to manus his MP’s wage to bully causes. But we tin uncover helium is manager of a Covid investigating kit steadfast which happily boosted its coffers with nationalist cash.

He is manager of Biopharma Process Systems Ltd, which recorded a £7.9million pre-tax nett successful 2021 – with a further £2.65million successful 2022. It paid dividends of £1.7million successful 2022 and £2.16million successful 2021. The institution got £141,741 successful authorities grants successful 2021, according to accounts.

Mr Lowe is simply a shareholder successful PE487 Limited, which owns Biopharma Process Systems Ltd. The president of PE487 Ltd has told the Mirror the £141,741 successful authorities grants was furlough money. Some firms decided to manus backmost wealth received via the Coronavirus Job Retention strategy to the government.

A Biopharma strategical study for 2022 noted the steadfast has seen a alteration successful turnover “mainly arsenic a effect of the simplification connected the accumulation of respiratory PCR tests associated with the COVID pandemic”. However, it added optimistically: “The directors are pleased with the show of the institution and are continuing to enactment to turn the company.”

Mr Lowe has been astatine the centre of contention implicit his determination to springiness distant his MP wage – pledging to donate astir £5,000 each period to a antithetic section cause. But the FT reported past period “his largesse has not been wholly welcomed by immoderate section MPs from much humble backgrounds, who judge helium is unfairly putting unit connected them to springiness up immoderate of their ain £91,346 yearly basal salary”.

There is nary proposition of wrongdoing by Mr Lowe oregon the firm. The MP, elected to Parliament successful July, said: "I americium progressive successful a scope of concern interests, exclusively successful a non-executive manager role. This brings invited acquisition to Parliament, different severely lacking successful individuals who cognize and recognize however businesses operate.

“In nary mode americium I the 'boss' of Biopharma, I americium a non-executive manager - with nary accidental implicit the day-to-day moving of the company. As with each areas of the economy, lockdown changed the mode that industries operated. I myself actively and vocally campaigned against lockdowns and the wide usage of COVID testing.

“Evidently, my directorship made zero interaction connected my precise nationalist presumption connected lockdown and the wider COVID response, which remains the biggest Government argumentation mistake inflicted connected the British colonisation during my lifetime.

“I declared my directorship successful PE487, the holding institution that controls and owns Biopharma operations, arsenic I was nether the content this was capable to show my engagement successful the radical - which was already afloat nationalist done my declarations.

“All directorships successful abstracted Biopharma companies, and my shareholding successful PE487, person present been declared successful bid to clarify matters. I made a committedness during the run to the bully radical of Great Yarmouth to donate my monthly nett MP wage to section worthy causes, and I americium sticking to it - thing alternatively antithetic successful today's politics, I know.

“So far, determination person been 3 recipients of my donations - Great Yarmouth Town FC, Hemsby Lifeboat, and the Pathway Cafe and Support Centre. Plenty of different MPs who person conscionable arsenic overmuch wealthiness arsenic me, and adjacent acold much successful immoderate cases, take to instrumentality the money. That's their decision, and I person ne'er enactment immoderate unit connected them to bash otherwise.

“If MPs don't similar my wage donation, rather frankly I could not attraction less. Instead of pathetic anonymous briefings, these weasels should enactment up oregon unopen up.”

PE487 Ltd president Andrew Cowen said the authorities grants was furlough money. He said: “Rupert Lowe is simply a shareholder... he’s a manager of some PE487 and Biopharma Process Systems… helium is not executive, helium does not instrumentality an enforcement relation successful the absorption of the company.”

Asked if helium thought it was justifiable to instrumentality nationalist wealth portion making millions successful profit, helium said: “Provided that it is done legally and wrong the law…" He said of the furlough cash: “It’s not for maine to marque a motivation judgement oregon to explicit a motivation view.”