Labor and the Liberals will lose millions of dollars a year in corporate and lobbyist funds after being forced to overhaul their pay-for-access business programs in response to new political financing laws that will impose a $50,000 limit on gifts.
Both major parties run business programs for executives and lobbyists that offer varying levels of access to ministers and shadow ministers, as well as the prime minister and opposition leader, based on the amount they pay for an annual subscription.
