Political finance reforms are important because, without such regulations, politics becomes a competition of money which will eventually drive the opposition to vie over identity politics as the “cheapest way” to compete, said academic Wong Chin Huat.

He said the public should have the same expectations of politicians as they do of any other professional occupations, as politicians should be able to compete on their ability to formulate policies and implement them.

However, even if political parties were to compete on ideas, money is still...