The rich and powerful are already trying to sway the next election – I have a plan to stop them | Stella Creasy

A bill proposing a cap on donations is up for debate this week. We must seize this chance to keep big money out of our politics Christopher Harborne gave Reform £9m in one day – more than double the amount all trade unions combined gave Labour nationally and its MPs directly for the entirety of the last general election. Once such “largesse” in our politics was rare, now it is commonplace. In 2015, just 1% of donations were from individuals and companies giving £1m or more – by 2024, that figure was a third. The chequebooks of the rich and powerful are already circling the next election. The question for Labour is, are we prepared to pay the price if we refuse to stop them? The prime minister deserves credit for recognising how toxic this has become and the public support for action too. As a result, on Wednesday, measures to cap what overseas donors can give will come before parliament in the representation of the people bill. Yet focusing on location rather than the level of a donation misses how wealthy individuals can set up a UK shell company or use a UK postcode to continue to dominate our democracy. With several British millionaires already funding political entities and parties and others waiting in the wings, our goal must be to ensure no one – near or far – can buy Westminster. Stella Creasy is Labour and Cooperative MP for Walthamstow..