Recommendation 17

In this statement, the then Secretary of State said: “We will introduce an amendment to the Representation of the People Bill to place an annual cap on the total political donations that an overseas elector can make. The cap will be set at £100,000 a year. In the light of the gravity of the issues raised in the [Rycroft] report, I am not prepared to allow any window of opportunity in which malign actors based overseas can funnel dark money into our politics. The cap will therefore apply retrospectively, so it will include all donations from overseas electors received from today and all regulated transactions entered into from today … We will introduce an amendment to the Representation of the People Bill to place a moratorium on all political donations made through cryptocurrency … Subject to parliamentary approval, the moratorium will be applied retrospectively to any crypto donations received from today by any political parties and regulated entities.” 20