Reform has been particularly critical of the Conservatives on the issues of immigration and net zero.
Many Tories fear it could put a significant dent in Rishi Sunak’s hopes of a return to Downing Street. But they are likely to be relieved Mr Farage has decided against taking on a more prominent role, given his high public profile.
Former cabinet minister Sir Jacob Rees-Mogg said: “The fact that he’s not a candidate for an opposition party is inevitably helpful for the Conservatives.”
Asked about the Conservative claim that a vote for Reform was, in effect, a vote for Labour, Mr Farage told the BBC that whichever of the two largest parties was in power had “almost no impact on the lives of ordinary folk” because there was almost no difference in policies between them.
“I hope Reform can become embedded in the Westminster system and become a genuine vote of opposition to a Labour Party that will have no honeymoon,” he added.
Mr Tice took over as Reform’s leader when Mr Farage decided to step back from frontline politics in 2021 in the aftermath of the UK’s withdrawal from the European Union.
At the election launch, former MEP Ben Habib, a candidate in Wellingborough, appeared to have a dig at Mr Farage’s latest decision, saying: “For any political movement to succeed, it needs a leader who is prepared to absolutely stay the distance and make the fight.”
Mr Tice had “the moral courage not to vacate either when the going gets tough or when it might suit him,” he added.
Asked if he was referring to Mr Farage, Mr Habib replied: “You interpret as you see fit. In any walk of life, you have to stay the distance.”
Mr Farage previously led the UK Independence Party from 2006 to 2009 and 2010 to 2016, and was Member of the European Parliament (MEP) for South East England from 1999 until the UK left the EU in 2020.
A prominent Eurosceptic from the early 1990s, when he left the Conservative Party following the signing of the Maastricht Treaty which furthered European integration, he was seen as a key figure in the decision to hold the Brexit referendum in 2016.
Mr Farage has stood for the UK Parliament unsuccessfully seven times, most recently for South Thanet in Kent in the 2015 general election.
Westminster’s first-past-the-post system has repeatedly scuppered his chances, whereas the proportional representation used for the European Parliament helped him enjoy a long career as an MEP.
While working as a presenter on GB News, he took part in 2023 in the reality TV series I’m a Celebrity…Get Me Out of Here!, finishing in third place.