MEGA-DONORS’ grip on British politics has increased 35-fold in a decade, anti-corruption experts have warned.

New analysis from Transparency International UK calls on MPs to amend the Representation of the People Bill to place a meaningful cap on political donations.

The share of private political donations coming from individuals and companies giving £1 million or more has surged from just 1 per cent in 2015 to over a third in 2024, the group found.

Election spending has hit a record high, with parties and candidates splashing out over £90 million at the 2024 general election — the highest amount in modern British history and nearly 80 per cent more than in 2015.

The anti-corruption organisation warned that, at this rate, over half of all political contributions could soon come from around a dozen individuals, accounting for less than 0.00002 per cent of eligible voters.

The largest single political contribution from a living donor, tech billionaire Chris Harborne’s £9m gift to Reform UK in 2025, would take the average person around 3,000 years to match, even if they donated all their savings.

The growing dependency of political parties on a shrinking pool of wealthy benefactors is increasing the risk of corruption, undue influence and foreign interference in British politics, Transparency International UK said.

While the Representation of the People Bill includes measures to counter foreign interference, Transparency International UK warned that without a cap on individual donations and a reduction in campaign spending limits, the legislation would fail to address a core driver of declining public trust.

Polling shows 84 per cent of the public believe wealthy individuals use donations to advance their own interests and two-thirds support a cap of £50,000 or less.

Duncan Hames of Transparency International said the increase in donations was not a gradual trend but a “dramatic takeover of political funding by a tiny number of ultrawealthy individuals.”

He added: “Successive governments have left campaign finance reform to languish in the long grass, but it is clear that big money is corrupting our politics. It is time for a meaningful cap on donations.

“The elections Bill is an opportunity for MPs to show they are serious about earning back the public’s trust.

“They should take that opportunity to cap donations to protect our democracy from being bought by the highest bidders.”

Transparency International UK is also calling on MPs to lower donation-reporting thresholds.