Nearly two in three Brits think there should be political donations cap, poll reveals as Musk mulls Reform cash boost

27 December 2024, 08:46 | Updated: 27 December 2024, 08:57

By Natasha Clark

@NatashaC

Nearly two in three Brits think there should be a cap on political donations - as Elon Musk eyes up dishing out cash to Reform.

Nigel Farage's outlet is in talks with the Tesla and X chief over a rumoured $100million cash boost.

But most of the public think there should be a ceiling on the amount that any individual can donate to a party in the UK, according to exclusive polling for LBC, by More in Common.

Six in ten people support or strongly support the idea.

Just six per cent say they would actively oppose a cap, the poll says - with the idea most popular among Liberal Democrat voters.

Fifty-two per cent of the public think that Mr Musk should not be allowed to donate $100 million to the party - with 27 per cent saying it should be.

A majority of Reform voters do back a cap on political donations - but 68 per cent of them say Mr Musk should be allowed to do so.

Read more: Row erupts between Reform and Tory Party over membership figures - as Farage accuses Badenoch of being 'bitter'

Read more: Reform membership surpasses Conservatives, Nigel Farage claims

Labour 'won't change laws to prevent an Elon Musk donation to Reform'

The chief of the Electoral Commission has called on Sir Keir Starmer to strengthen the rules around political donations.

Electoral law in the UK says that all donations and loans to political parties worth more than £500 should come from “permissible donors” - and they have to be registered in the UK.

There's no limit to the amount that parties can raise, however.

Foreign individuals are not permissable donors, according to the Electoral Commission's guidelines - but if a company is registered in the UK, they can donate cash to a political party.

The Electoral Commissions chief, Vijay Rangarajan, has said: “It’s crucial that UK voters have trust in the financing of our political system, so they need to see how parties and campaigners are financed and how they spend that money at elections.

"Our current laws include checks on the permissibility of donations and are intended to provide transparency over the source of political donations. But the system needs strengthening, and we have been calling for changes to the law since 2013, to protect the electoral system from foreign interference.

"We recommend three key changes: limit company donations to the money that they have made in the UK; legally require parties to conduct know-your-donor checks on donations to assess and manage their risks; and ensure those who donate to unincorporated associations are permissible donors.

"We are discussing these proposals with the Government."