The current bill before the Australian parliament about campaign finance is a mixed bag of worthy reforms, political manipulation and the overfunding of political parties at taxpayer expense.
In New South Wales, donation caps were introduced at the level of $5,000 because the $5,000 of a billionaire is worth exactly the same as the $5,000 from the fish and chip shop owner.
It will strengthen donation disclosures by lowering the disclosure threshold to donations of $1,000 and requiring more timely disclosure, helping the public see who funds parties.
Most significantly, the bill will impose caps on political donations, aiming to reduce both the risk and perception of undue influence and corruption from political donors.
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