News & Trends - Pharmaceuticals
Radical overhaul of political donation laws looms ahead of federal election

Greater transparency on donors, donation caps, and limits on campaign expenditure are all on the table as the Australian Electoral Commission gears up for the anticipated changes to political donation laws.
Senator Don Farrell’s recent announcement for a technology-driven overhaul aims to bring real-time disclosure of political donations, following the recommendations from last year’s inquiry into the conduct of the 2022 federal election.
Federal donation rules have long lagged behind state regulations, with the current threshold for public disclosure set at a whopping $16,300. Labor’s promise to lower this to $1,000, aligning with NSW, Victoria, and Queensland, has finally come under the spotlight.
Under the current archaic system, it can take up to 18 months for large donations to be disclosed, a loophole that benefits those with deep pockets.
During the last federal election, the Labor Party raked in $84.4 million, the largest chunk from billionaire Anthony Pratt. The Liberal Party did not fare poorly either, netting $112.7 million. The big four consulting firms, including the controversial PWC, funnelled $1 million into the coffers of the major parties.
From the healthcare sector, notable donations came from the Pharmacy Guild of Australia ($355,780), followed by Medicines Australia ($255,096). These figures do not include donations from individual organisations who are members of these peak bodies.
Bill Browne, Director of the Australia Institute’s Democracy & Accountability Program, slammed the current state of political donations, asserting, “The political donations data highlights the lack of transparency and integrity in Australian politics. We are learning today whether businesses made political donations 18 months ago. These lags and other loopholes make it difficult to see how politicians and political parties are being funded – and by whom.”
Donation caps are seen as a critical step to curb the undue influence of wealthy donors. Limiting campaign expenditure could strike at the heart of the money-driven political machine, where big money translates to greater influence over voter perception.
Expenditure caps would aim to put an end to the “arms race” for funds, decreasing parties’ dependency on major donors who, in turn, buy unprecedented access to politicians, influencing public policy decisions behind closed doors.
Independents, however, warn that expenditure caps could cause barriers for new political entrants, favouring the entrenched major parties. Spending caps are therefore needed both for total spend and per electorate, to prevent major parties consolidating their resources to fight just a few seats.
Capping campaign spending would be a seismic shift, demanding broad parliamentary consensus. Even if agreement is reached quickly, the Australian Electoral Commission would need time to roll out these changes, making it unlikely to impact the next federal election.
The reform package is set to be presented during the upcoming federal parliamentary sitting fortnight. If the government acts with urgency on transparency reforms, Australians could finally gain clear insights into who really pulls the strings in political party funding as we approach the 2025 polls.
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