Overview

This bill aims to reform political donations in the UK. It mandates a review to determine the optimal cap on donations, introduces regulations to enforce this cap, and proposes measures to prevent political donations from foreign nationals residing outside the UK via UK-based companies.

Description

The bill initiates a review, led by an independent person, to assess the appropriate level for a cap on political donations and its impact. This review must report within six months, recommending a specific donation cap level and analyzing its potential effects. The Secretary of State will then set the cap via regulations, subject to parliamentary approval. Furthermore, the bill directs the Secretary of State to create and publish a plan within three months, detailing how to prevent foreign nationals outside the UK from donating through UK companies. This plan must include measures targeting donations through companies owned by these individuals, restrict donations to profits generated within the UK, and include other necessary preventative measures and a timetable for implementation.

Government Spending

The bill does not directly specify government spending figures. The cost will depend on the resources allocated to the independent review and the implementation of the proposed measures to prevent donations from foreign nationals.

Groups Affected

• Political Parties: Will be directly affected by the new donation cap and regulations.
• Donors: Individuals and companies making political donations will be subject to the new limits.
• Foreign Nationals: Those residing outside the UK will face restrictions on donating to UK political parties through UK companies.
• Government: Responsible for appointing the review panel, implementing the new regulations and developing a plan for preventing donations from foreign nationals.

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