Labor has called for tougher laws on political donations to respond to a furore over foreign interference in Australian politics, forcing a decision in Parliament on greater disclosure of party finances.

Labor foreign affairs spokeswoman Penny Wong named donation reform as a key issue in the wake of revelations that a suspected Chinese agent offered Melbourne man Bo Zhao a million dollars to run for Parliament.

Labor's Senate Leader Penny Wong named donation reform as a key issue. Credit:Alex Ellinghausen

Business Council of Australia chief Jennifer Westacott joined the warnings about foreign interference by acknowledging a "persistent threat" to employers from foreign hacking and theft.

Prime Minister Scott Morrison declared on Monday that he was willing to consider "any improvements" and "any additional matters" that might be needed to deal with interference by foreign powers.