Australia is set to introduce a new bill capping the amount billionaires can spend on political parties, proving it really is that simple to stop the super-rich buying elections.
In recent weeks and months there has been a huge amount of focus on political donations thanks to Elon Musk.
After donating more than $250m to Donald Trump’s ultimately successful presidential campaign – along with influencing the election through X – the Tesla CEO was reportedly weighing up a huge £100m (£80m) donation to Reform UK.
But now Australia looks set to show the world that if you don’t want your democratic process to be bought by a dodgy-saluting, Tommy Robinson-supporting megalomaniac, there are things you can do.
You know, like passing laws.
Under new legislation, donor spending in Australia would be limited to A$20,000 per candidate per year.
The bill is aimed to prevent billionaires being able to influence and effectively buy elections with astronomical donations.
The law, announced by Labor, will also limit spending on federal political campaigns to $90m.
Special Minister for State Don Farrell said: “Labor’s reforms will cap campaign spending, restrict big donors, and stop the arms race of donation drives and endless fundraising.
“We’re targeting the system that allows an uncapped amount of money to be spent on elections. We don’t want to go down the track of the American election system.”
He added: “The Australian electoral system should not work on the basis that the only people that can get in to Parliament are people who are sponsored by billionaires.”
The legislation is set to be passed by the Australian government after the country’s next federal election, SBS News reports.
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