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Federal political parties have received $1.1 billion from hidden donors in a trend towards greater secrecy over two decades, says a new report that warns of dangerous failures in the system meant to expose vested interests.
A handful of dominant players have increased their sway over federal politics by making one-quarter of all donations over the period, led by mining magnate Clive Palmer as well as Liberal and union funds.
Big time political party donor, Clive Palmer.
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In a damning assessment of the disclosure regime, the not-for-profit Centre for Public Integrity says voters are being denied crucial facts about who has paid for influence with about $3 billion in party income over two decades.
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The property industry has ramped up its political donations to a fresh peak that takes its total funding to $54.2 million over the past two decades, finds new analysis that calls for curbs on the way big companies buy influence.
The donations rose to $5.7 million in 2019 in a long-term trend towards greater spending on the major political parties, handing federal Liberals about twice as much as Labor.
Westfield co-founder Frank Lowy is among the property developers leading the list of donors over two decades.
Credit:Louise Kennerley
Billionaire property developers including Westfield co-founder Frank Lowy, Harry Triguboff of Meriton, John Gandel of the Gandel Group and Lang Walker of the Walker Group are among the top 10 donors over two decades.