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Billionaires' spending to be curtailed under sweeping election reforms

The government's long-awaited electoral reforms will finally be revealed this week, leaving just a fortnight to pass them this year.

Clive Palmer's ability to spend on elections would be severely curbed under a new Labor proposal. AAP/Bianca De Marchi.

Billionaires’ spending power in federal elections would be severely cut under sweeping changes set to go to Parliament within days.

Special Minister of State Don Farrell will unveil the government’s long-awaited electoral reforms on Friday, with the package set to include caps on donations and parties' spending power.

The Albanese government intends to pass the package swiftly through the House of Representatives next week, giving the Senate four days to consider it before Parliament wraps up for the year.

Farrell has signalled his intention to negotiate with the Coalition, potentially cutting out the crossbench, and the bill’s imminent introduction is a sign Labor is confident it will pass.