A government-commissioned report has proposed significant curbs on political donations, which is likely to have the biggest impact on Reform UK’s funding.
A report released today by an ex-mandarin has proposed plans to limit the amount of money donated to British political parties abroad, limits on company donations and a new cap on cryptocurrency funding for political parties.
Former top official Philip Rycroft is proposing urgent changes to the law which he says would curb foreign financial influence on our political system. He has also proposed banning political advertisements that are funded from abroad, as well as reducing the burden of proof for election crimes.
The report said there is a “persistent problem of foreign interference”, which can be “damaging” and “breeding discontent”.
Rycroft says the intent is to undermine confidence in our democracy.
However he also acknowledged that “there is no immediate crisis” and there was no evidence that the 2024 election was distorted by foreign financing.
As well as traditional hostile claims, the report said there is a “new threat” from the United States, as allies and enemies seek to “intervene and advance their goals.”
The move would curb donations from Christopher Harborne, a Thailand-based fan of the cryptocurrency who donated more than £12 million to Reform last year. Reform UK also accepts crypto donations which will be suspended.
The law can be changed in months, with amendments to the law already in the Commons.
Nigel Farage previously complained that the review was designed to damage Reform UK.
Rycroft spoke to a large number of people for the report, many of whom are opponents of Reform UK, but not personally any Reform UK MPs. However, he spoke to Reform UK Party officials.
