Push to stop 'arms race' in federal election spending

There are calls for federal political donation and spending caps to curb the influence of donors. (Joel Carrett/AAP PHOTOS) (AAP)

Influential donors with deep pockets are having an effect on Australian politics as a report finds election spending has reached record highs.

Analysis by the Centre for Public Integrity, an independent think tank, found election spending had increased by almost 85 per cent in the past two decades.