I note that in the UK political parties just .. aren't allowed to run TV ads at all, but have a set of broadcast slots allocated for free to them. This certainly makes it a lot quieter. While there are serious problems with UK libel law, it also restricts ability to run the levels of overt "Jim eats puppies" libel that is seen in US elections.
Total UK spend in 2024 was about £70m or about £1 per citizen. https://commonslibrary.parliament.uk/research-briefings/cbp-...
> It is incoherent to endorse restrictions on free speech while also supporting universal suffrage.
Even in the US free speech does not allow you to simply sell fraudulent goods and services. There has to be some sort of defense in the system against lying, or the entire process just turns into competing to write the worst fantasy about your opponent.