Sunday, January 29, 2006

Mob rule in a political wilderness

The results are in - your $1.75 in action. From the Red Star:

Voter turnout boosts party fortunes. Mainstream parties get subsidy of $1.75 per vote

The Liberals may have lost the election, but they've managed to avoid massive financial hits to party coffers.

With voter turnout up from the last election, the Liberals will get an annual Elections Canada subsidy of about $7.8 million, which the party says is "a manageable" $1.3 million or so less than it received before.

Every vote the five mainstream political parties attract is worth about $1.75 to them each year in federal subsidies under rules that govern election financing.

The Liberals received 4,477,217 votes in Monday's election, according to unofficial results from Elections Canada.
There were fears that if support for the Liberals had disastrously collapsed on Monday, the party would be sent into financial wilderness.

"We will have a debt, but it won't be nearly as much as some people have suggested. It will be a few million dollars, I would anticipate," said party president Mike Eizenga, who added that all the spending has not yet been tallied. "We think we will be able to have it pretty much retired by the end of the year."
The debt-ridden NDP looks forward to $4.5 million per year, while the leading party is expected to receive approximately $9.4 million.

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