Labour plans to ‘tighten up’ donation rules, minister says, amid concerns Elon Musk could donate £80m to Reform

4 December 2024, 18:53

Labour could change political donation rules after reports emerged Elon Musk may donate up to £100m to Reform UK at the next General Election.

Speaking to LBC’s Andrew Marr, Minister for European Union Relations, Paymaster General and Minister for the Cabinet Office Nick Thomas-Symonds said the government had already planned to “tighten up” donation rules before Mr Musk reportedly backed Reform UK.

Mr Musk, the world's richest man, has been critical of Keir Starmer's government and has shown support for Reform.

He has also become a key ally of Donald Trump, donating over $200m to his election campaign.

Speaking to LBC, Mr Thomas-Symonds said: “We’ve already said we are looking at tightening up the rules on donations, that’s not a new thing.

Elon Musk's potential $100m donation to Reform 'could be a serious problem'

“There is already a set of rules on foreign donations but we do need to toughen up these rules to maintain and enhance trust in politics.”

Any donation from Musk to Reform would likely be made through X in a bid to get around political donation laws by foreign individuals.

Mr Farage said he was unaware of any plans by Mr Musk to donate to Reform, but said they shared "a good relationship".

“All I can say is that I’m in touch with him and he is very supportive of my policy positions,” the Reform leader told The Times.

“We both share a friendship with Donald Trump and Trump has said good things about me in front of Musk.

"We’ve got a good relationship with him.”

Mr Musk recently reposted a message on social media that Reform would "win the next election", saying simply "Yes".

He has also sparred with Keir Starmer, branding him 'two-tier Keir', a popular right-wing online insult for the Prime Minister.

Mr Thomas-Symonds also told LBC that Labour will not be forced to choose between the European Union and Donald Trump in the coming years.

He said: “We are influenced by our national interest and that is what guides us, both with the EU and the United States and other trading partners.

“We want there to be more trade, deeper trade.

“The United States has been able to combine being both pro-worker and pro-business, and that’s the platform that won us the election here.”