Trade unions urge Prime Minister to cap donations after crypto billionaires give £72million to Reform

Trade unions are among those urging Prime Minister Andy Burnham to cap domestic political donations after two crypto billionaire donated £36m each to the party in the space of just 24 hours, with concerns over wealthy people exerting undue influence.

Christopher Harborne and Ben Delo donated £36m each to the party in the space of just 24 hours at the weekend. Questions have been raised over whether the donations are legal and if they would have to be returned.

Even before the current donations to Reform, the government was already looking at tightening the rules following the Rycroft Review into foreign financial influence. The government then said it would introduce a £100,000 annual cap on donations from overseas electors.

And the rules go further than simply stopping somebody living abroad from writing an enormous cheque. They would also continue to restrict some people who return to Britain, until they have been resident here for a full calendar year.

Crucially, the government intends the new limit to apply retrospectively to donations made since 25 March this year. Donations caught by the new rules and above the limit could therefore eventually have to be returned.

However, a number of Labour MPs want the government to put a cap on domestic donations, urging the government to take a second look.

Now trade unions have backed the call. On Sunday the Unite trade union said it was in favour of a cap – and the largest trade union, Unison, said it would fight attempts by billionaires to influence politics.

“For individual donors there must be a cap,” said Sharon Graham, the Unite general secretary. “I think at some point it gets beyond what people think as normal.”

Andrea Egan, Unison’s general secretary, said: “As his support dwindles in this country, Farage is turning to crypto billionaires in an attempt to undermine our democracy. The trade union movement will oppose him every step of the way.”