The problem is that a lot of small groups are campaigning under the umbrella of 38Degrees.org but 38degrees can be gagged which means that the literally millions of people that use the site are being gagged. Even the electoral commission is against the new changes. I don't think the gov't realised the consequences this bill.
The separate campaigns should be treated as such for legal purposes, then i expect the Â£400k wouldn't be a problem and the law needs to differentiate between a democratic process where hundreds of thousands of people chip in to have their voice heard vs the money of individual corporations.
And this is also an attack on unions right to represent their members political wishes.