THE £500 deposit required to stand as a general election candidate should be scrapped to give voters a wider choice of would-be MPs, regulator the Electoral Commission said today.

Ability to pay a deposit — which is lost if the candidate fails to obtain 5 per cent of the vote — was not a “relevant or appropriate” factor in determining whether a candidate should be on the ballot paper.

The proposal is one of a series of reforms put forward by the watchdog to modernise the system for deciding who can contest elections in Britain.

“The current rules on standing for election are complex, out-of-date and difficult for candidates to navigate,” said Electoral Commission chairwoman Jenny Watson.

“We’ve listened to a wide range of views and our recommendations will make it easier for candidates to stand for election in the future, while maintaining trust and confidence in the system.”

The report recommended scrapping deposits for all elections in Britain, not just for Westminster seats.