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NextImg:A reshuffle and a raucous conference show the misery of power
Britain | Bagehot

A reshuffle and a raucous conference show the misery of power

What happens when nothing matters?

|5 min read

A demonstration of the difference between being in government and opposition hung from the ceiling at Reform UK’s party conference, which kicked off in Birmingham on September 5th. “Are you safe from the wealth tax?” asked a sign looming over delegates, alongside a grinning picture of Nigel Farage with a gold coin. It was paid for by Direct Bullion (“Recommended by Nigel Farage”), a gold dealer whose relationship with the Reform leader has earned Mr Farage some £280,000 ($380,000) in the past year.

This article appeared in the Britain section of the print edition under the headline “What happens when nothing matters?”

From the September 13th 2025 edition

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Labour has become the party of Britain’s rich

New data also reveal which voters are driving Reform UK’s surge

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The Labour government is unlikely to go there

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Matthew Holehouse, our Britain political correspondent, gives his take on Reform UK’s annual conference