@Billbrowder Foreign individuals can already only give up to £500 per year which is fine.
But it is crazy that previous legislation didn't foresee using companies.
The new legislation fails to cap donations from UK individuals & organisations, though donations over £11,180 are public.
1/3
But it is crazy that previous legislation didn't foresee using companies.
The new legislation fails to cap donations from UK individuals & organisations, though donations over £11,180 are public.
1/3
@Billbrowder As with previous legislation we are leaving a door wide open, so it will be used.
Of course this is because the Conservatives & Labour both receive large sums from UK individuals/entities such as the wealthy, businesses and trade unions.
But where do they get their money?
2/3
Of course this is because the Conservatives & Labour both receive large sums from UK individuals/entities such as the wealthy, businesses and trade unions.
But where do they get their money?
2/3
@Billbrowder The new legislation requires parties conduct banking-style due diligence & companies must prove income was generated in UK.
Penalties would go from £20k to £500k.
But if Musk gives Ratcliffe money, Ratcliffe is wealthy enough himself to pass checks, so door still open.
3/3
Penalties would go from £20k to £500k.
But if Musk gives Ratcliffe money, Ratcliffe is wealthy enough himself to pass checks, so door still open.
3/3
@Billbrowder Note: though Ratcliffe is based in Monaco for tax purposes, he is able to remain on the electoral register.
But new legislation means donations are flagged as 'Overseas Elector' if home address not in the UK.
New rules are big improvement, but there are still ways around them.
But new legislation means donations are flagged as 'Overseas Elector' if home address not in the UK.
New rules are big improvement, but there are still ways around them.
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