- Reaction score
- 5,973
- Points
- 1,260
And the saga of Liberal Party of Canada financial mismanagement continues from Dion through Ignatieff to Trudeau according to this article which is reproduced under the fair Dealing provisions of the Copyright Act from the Ottawa Citizen:
http://www.ottawacitizen.com/news/Coyne+owes+after+failed+Liberal+leadership/9038515/story.html
The Liberal party of Canada knew, going in, that the $75,000 entry fee would be a problem for most leadership contenders but it, the Party, is so desperate for money that it imposed the fee anyway.
The simple fact is that too few Canadians give a damn* about the Liberal Party ~ not enough, anyway to support it financially.
_____
* A damn being defined as caring enough to spend even $10.00 for a party membership.
http://www.ottawacitizen.com/news/Coyne+owes+after+failed+Liberal+leadership/9038515/story.html
Coyne owes $61,000 after failed Liberal leadership bid
BY GLEN MCGREGOR, OTTAWA CITIZEN
OCTOBER 15, 2013
OTTAWA — The Liberal Party appears headed for a repeat of the 2006 fiasco over unpaid leadership campaign loans, with one candidate in this year’s race already reporting a large debt she has been unable to pay off.
Financial reports published by Elections Canada on Tuesday show that long-shot leadership contender Deborah Coyne’s campaign still had $61,000 in unpaid loans outstanding after the vote wrapped.
Coyne, a lawyer, was able to fundraise only about $44,000. The rest of the money to finance her campaign came from loans Coyne made to herself in the amount of $75,000 at a 5 per cent interest rate.
The $75,000 entry fee required of the party was responsible for much of Coyne’s debt, the return shows.
She has repayed only $13,800, according to the report filed in May.
Coyne now faces the onerous task of raising money to finance a campaign she has already lost — the same circumstance that befell six candidates in the 2006 leadership race, including winner Stephane Dion.
The story was an ongoing embarrassment for the Liberals under Dion and later, Michael Ignatieff, as they passed the hat at fundraisers while facing a restriction of a $1,100 limit on donations from each supporter.
Liberal MP Hedy Fry and former MPs Joe Volpe and Ken Dryden, who both lost their seats in 2011, faced steep debts that they couldn’t pay down seven years after the leadership race ended.
Although the Liberals were found in breach of election finance rules, the Commissioner of Canada Elections Yves Côté admitted this summer that there wasn’t any action he could take against them under the current legislation.
Several other 2013 leadership contenders whose returns are not yet public are also expected to show unpaid loans.
By contrast, Justin Trudeau’s winning campaign was a juggernaut, raising more than $2 million in donations while spending $1.4 million, without incurring any loans.
Liberal MP Joyce Murray borrowed $50,200 to fund her campaign but repayed all the money, her return showed.
© Copyright (c) The Ottawa Citizen
The Liberal party of Canada knew, going in, that the $75,000 entry fee would be a problem for most leadership contenders but it, the Party, is so desperate for money that it imposed the fee anyway.
The simple fact is that too few Canadians give a damn* about the Liberal Party ~ not enough, anyway to support it financially.
_____
* A damn being defined as caring enough to spend even $10.00 for a party membership.