LONDON (dpa-AFX) - The UK Government will introduce tough new rules to crackdown on foreign money influencing UK elections, including a timebound cap on donations on those who move to the UK from overseas.
The government confirmed Monday that it will introduce a new timebound cap on large political donations from people who have recently moved to the UK, in effect creating a minimum amount of time someone must permanently be based in the country before they can donate over the cap to a political party or candidate.
Other new measures include stronger tests on company donations, new and tough transparency requirements for candidates, and the closing of loopholes that could be exploited by those seeking to interfere in UK elections.
The measures, announced as part of the government's response to the independent Rycroft Review, will strengthen safeguards against foreign financial influence and reinforce the UK's position as a world leader in defending democratic integrity.
Together, the reforms will ensure political donations are transparent, legitimate and firmly rooted in the UK, helping to safeguard elections for years to come.
Secretary of State Steve Reed said, 'British democracy is not for sale. These tough new rules will shut down dodgy funding, stop foreign money influencing our elections and keep our democracy strong. By holding overseas donors to tougher standards and requiring candidates to prove where their funding comes from, we are taking world-leading action to protect the integrity of our elections and tackle the threats we face from abroad'.
As part of the government's response to the independent Rycroft Review, new safeguards will be introduced to toughen the previously-announced cap on political donations of more than 100,000 pounds from overseas donations.
Individuals returning to the UK will now be subject to the cap for at least a full calendar year to prevent the rules being dodged.
Companies will also face tougher checks, with political donations assessed against post-tax profits over the previous five years rather than revenue alone.
This means only legitimate UK-linked businesses will be able to donate in a way that is transparent, accountable and reflective of their real financial position.
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