The businessman who gave a six-figure sum to Nigel Farage's Brexit Party is City financier Jeremy Hosking who has donated heavily to the Conservative Party.

Mr Hosking, who gave £350,000 at the 2017 election to Tory candidates, said he had decided to donate to the Brexit Party after becoming sick of being "taken in" by Conservatives failing to deliver on Brexit.

There is speculation that more Tory donors are set to follow suit. Mr Hosking said that he knew of “three or four people who had pledged or given those sorts of sums”.

The Brexit Party has raised more than £2 million in donations, the vast majority from small donors who have given £25 each.

However, last week Mr Farage said a single donor had given more than £100,000 – adding that his identity would be disclosed by filings to the Electoral Commission after the May 23 poll.

The former Ukip leader said that it was "irrelevant" who the biggest donor was and their identity would be declared only at the end of July.