For five years, the Centre for Public Integrity has advocated to get rid of “big money” in politics. Caps on donations and campaign spending are central to any major reform.

Labor, with the apparent approval of the Coalition, has introduced a bill to address this problem. On Wednesday, it passed the House, and next week it is expected to be approved by the Senate. The regime will not come into practical operation until 2026 but its swift passage in the next few days, Labor tells us, will enshrine this important reform in our laws immediately.

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The bill reduces the threshold at which donors must disclose their contributions from $16,900 this financial year to $1000. It also implements speedier disclosure. Rather than voters waiting up to 19 months to learn who has donated to whom, monthly donation disclosures will be required. Once an election is called, donation disclosures will be required within seven days — and within 24 hours in the week before and after polling day.

These transparency improvements are welcome, and the government should be commended for them. Otherwise, however, the bill raises significant concerns – both in terms of process and substance.

The fact that it is set to proceed in the absence of a parliamentary inquiry is alarming, considering its complexity and significance. Independents David Pocock and Kate Chaney have said this is a secret deal, a “stitch-up” to subvert parliamentary process and enshrine the incumbent duopoly in a manner that threatens proper democratic principles.

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