Former Ukip leader Nigel Farage could stage a political comeback after admitting Brexit has failed because of the way the government has handled the UK’s departure from the EU.

He has not said what options he is considering other than ruling out an eighth attempt at trying to become an MP.

It is now eight years since he stood unsuccessfully in Thanet South, defeated by Conservative Craig Mackinlay.

But he has declared a comeback could be on the cards to pile on pressure on the government to exploit the freedoms offered by Brexit.

Speaking on BBC Newsnight, he said he "doesn't think for a moment" the UK should have remained in the EU – and blamed the "failure" on the Conservatives’ handling of Brexit.

"We haven't benefited from Brexit economically when we could have done. What Brexit has proved, I'm afraid, is that our politicians are about as useless as the commissioners in Brussels were. We have mismanaged this totally," he said.

He added the decision to increase corporation tax from 19% to 25% in April was "driving business away from our country" and the UK government was "arguably...regulating our own businesses even more than they were as EU members", stating: “Brexit has failed.”

Asked whether he would consider a return to frontline politics, Mr Farage said: "I wouldn't rule it out but it is not at the top of my bucket list.

“But frankly, we have not delivered on borders, we have not delivered on Brexit, the Tories have let us down very badly."

The 59-year-old previously said he would leave the country if Brexit turned out to be a "disaster”.

Henry Bolton, another former Ukip leader, said he was not sure what a return to politics would achieve.

“Brexit hasn't failed. What has failed is our politicians on the leave side, as well as the remain side, including Nigel, including Boris, including Theresa May. They failed to present the country with a vision either before the referendum or after of where we need to go. Without that vision, you can't benefit.”

Credited as the man who masterminded Brexit, it is not the first time Mr Farage has threatened a comeback.

In November 2021, he announced he was pondering one because of the government’s failure to halt boats carrying would-be asylum seekers from crossing the Channel.

He founded the Brexit Party in 2018 as a vehicle for pressurising the government to make a clean break with the EU, with the party fielding candidates in the European election of 2019 and returning 29 MEPs.

He then announced in November 2021 he was quitting frontline politics altogether, with the Brexit Party becoming the Reform Party.

But it was not long before he was suggesting he might come back into frontline politics, declaring in November 2022 that he wanted to stage a return to take on those he dubbed the “Brexit betrayers”.

Even after he was defeated at the general election in 2015, he quit as leader but within hours had not ruled out the possibility of entering the leadership contest that he himself had triggered.