Angela Rayner plans to bring in a new law on party funding before the next general election

The issue of foreign interference through donations came to the fore amid reports Elon Musk had been considering giving Reform $100 million before he fell out with Nigel Farage

Angela Rayner has told MPs that she plans to bring in a new law governing party donations and election rules before the next general election expected in 2029.

The deputy prime minister told the Housing, Communities and Local Government Committee in the Commons that voters “need transparency” on where party funding is coming from.

The issue was raised in the wake of concerns over foreign interference after it was mooted that X social media platform owner Elon Musk might give Reform UK $100 million.

Currently the law would allow for a foreign national to give huge sums of money to a party which could alter the course of an election and political landscape in the UK. While Reform leader Nigel Farage and Mr Musk have had a spectacular falling out this week over far right activist Tommy Robinson, the concerns over money pouring from America to aid Farage still remains.

Ms Rayner was giving her first session of evidence to the select committee since being given the housing, communities and local government brief which includes the management of elections which are overseen by councils.

Angela Rayner gives evidence to a Commons committee (House of Commons/UK Parliament/PA Wire)

She was pressed on the issue of party funding by newly elected Kensington and Bayswater Labour MP Joe Powell.

Ms Rayner said: “We have to make sure that elections are transparent, and donations, are transparent within our system. We continue to look at that and making sure that we have the systems in place that people have confidence in.

“We want to enfranchise people into exercising their votes and we've looked at both our ideas as part of that and supporting that process. But equally we want to see transparency in the process of where donations come from. And people are very clear about that and that the rules are followed.”

Pushed on when legislation might come forward, Ms Rayner noted that the proposed Bill was not in the first King’s speech. However, she committed to bringing forward before the next general election expected in 2029.

“I certainly would want to do that as soon as possible. Certainly before the next general election,” she said.

“I get frustrated that people feel disconnected from politics and politicians. I want people to to be engaged with that process and to have confidence in our political system. And that’s what we’ll be hoping to achieve.”