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Why do we need to regulate political finance
2018-06-24
- Money in politics undeniably influences the quality of democracy and governance. We need to regulate to the finance to positively control the influence.
- Money is necessary for democratic politics, and political parties must have access to funds to play their part in the political process. Regulation must not curb healthy competition.
- Money has never been an unproblematic part of the political system, and regulations are always desirable.
- Effective regulations and disclosure can help to control adverse effects of the role of money in politics, but only if well conceived and implemented.
- Effective oversight depends on activities in interaction by several stakeholders (such as regulators, civil society and the media) and based on transparency.
- More informed voters, more equal footings on which parties and candidates compete, or more equitable access to politics across socioeconomic groups.
- Regulation defines: what is to be disclosed, who is to disclose it, how often, and to what type of regulatory body.