Labour move branded 'disingenuous' as Starmer seeks to strengthen overseas donations rules: 'He's worried about Reform!'

Following an hour-long meeting with Musk at Donald Trump’s Mar-a-Lago resort, Reform UK leader Nigel Farage described the occasion as "great" and "historic".

Following the meeting, Downing Street has claimed that work has begun on tightening the rules on foreign nationals getting involved in British politics.

The Prime Minister's spokesman said: "You have got the legislative priorities for the parliamentary set out in the King's Speech. The commitment remains as it the manifesto to protect democracy from threats to foreign interference by strengthening the rules around donations to political parties."

Criticising the move on GB News, Bailey claimed that the decision has been driven by Labour's "worry" for Reform's growing popularity.

He added: "The real thing this shows is that Labour are worried about Reform," Bailey said during the interview.

"Labour used to think that Reform was only the Tories problem. Now they're looking at how unpopular Keir Starmer is, where that popularity is going and they're beginning to worry about Reform."

Bailey attributed Elon Musk's awareness of Labour to the party's activists' involvement in American politics.

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"That's the only reason Musk knows the Labour Party exists, because they were in America campaigning against his party," Bailey said.

The Conservative peer suggested this was a direct consequence of Labour activists campaigning against Trump.

He added: "So of course, he feels like he needs to respond. And what this is, this is the reward Labour have reaped for so many Labour Party activists going over and campaigning against Trump so happily."

Bailey also warned that any move to reform political funding could lead to increased scrutiny of Labour's financial relationships.

He concluded: "The most disingenuous thing about this is the timing.

"If this was between elections and nobody had offered a big donation to anybody else, then it'd be a much easier question to have."

Bailey added: "People wouldn't want to spend one pence on funding political parties, so let's be clear about that.

"So if you're going to talk about reforming political funding, then people will start to look at the Labour Party's relationship with Union funding. That will come across."