Stella Creasy, the Labour and Co-operative MP for Walthamstow, has called on MPs to seize the opportunity to limit all single political donations to £100,000 per calendar year, warning that the current system allows the wealthiest individuals to wield disproportionate influence over British democracy. Writing in the Guardian, Creasy argued that the scale of private donations has fundamentally shifted, with Transparency International research showing that the share of donations from individuals and companies giving £1 million or more surged from 1% in 2015 to 35% in 2024.
Public Concern Over Wealthy Influence
Creasy noted that 83% of the British public believe the wealthy are trying to buy influence, and she warned that without action, the perception of impropriety could overwhelm democracy. She highlighted the case of Nigel Farage, who faced questions about millions he raised before and after being elected, and chose to face a byelection rather than parliamentary standards procedures. The MP also referenced Count Binface, a novelty candidate in the Clacton byelection, as a symbol of public frustration, but stressed that relying on a man with a bin on his head is not a solution.
Rycroft Review and Loopholes
The government commissioned the Rycroft review into foreign financial influence, which called for a cap of £100,000 on donations from overseas actors and a minimum one-year UK residency exemption. However, Creasy argued that wealthy donors can easily circumvent such rules by obtaining a UK postcode, as seen with crypto-billionaire Christopher Harborne, a Farage benefactor based in Thailand who registered a Hampshire address. She stated that the location of a donor is a red herring, and that limits should apply regardless of passport or address, as they do in France, Italy, Australia, and the US.
Amendment to the Representation of the People Bill
The Representation of the People Bill returns to the Commons next Tuesday, and Creasy has tabled an amendment to cap all single donations in a calendar year at £100,000. She argued that this would differentiate between malign actors trying to buy democracy and legitimate trade unions, cooperatives, and civil-society organisations, which have transparent political funds. Creasy warned against letting unions become the fall guy for failure to act, as happened with the 2007 Hayden Philips review.
Need for Decisive Action
Creasy concluded that MPs must show they have both the will and the way to protect politics from the perception and reality of impropriety, and that this cannot be left to Count Binface. She urged colleagues to close the loophole that allows money to flow like water and pollute the system, ensuring that political outcomes are not sold to the highest bidder.
