Four former Liberal leadership contenders still owe $576,000 in bank loans
Several of the candidates struggling to repay the five-year-old leadership loans were still fundraising as the May election approached.
By TIM NAUMETZ Published May 16, 2011
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Four Liberal MPs who lost the May 2 election still owe a total of $576,000 among them in loans for the party's 2006 leadership campaign—and their chances of drumming up donations to pay it all off have slimmed considerably.
Martha Hall Findlay, toppled by a Conservative in her affluent Willowdale riding in Toronto, said it was tough to generate contributions as MP Hall Findlay, and it can only be tougher as ordinary citizen Hall Findlay.
She and several of the candidates struggling to repay the five-year-old leadership loans were still fundraising as the May election approached. They registered contributions with Elections Canada as late as March 18, only eight days before Prime Minister Stephen Harper (Calgary Southwest, Alta.) called the vote.
"For sure it's going to be more difficult," Ms. Hall Findlay told The Hill Times, arguing a unique Elections Act cap on contributions to leadership candidates and the unusually large field of candidates, 11, have made fundraising to repay the loans comparable to searching for rare coins or lost treasure.
Anyone who has donated to any of the candidates for the contest that took place more than five years ago, and has reached their $1,100 Elections Act limit in leadership contributions for that specific contest, is prohibited from donating any more money to any of the candidates, anytime.
Ms. Hall Findlay, who lent her own campaign $125,000, said the pool of willing and available donors was being shared by 11 candidates from the outset and it has only grown smaller as the big stars—former party leader Stéphane Dion (Saint-Laurent-Cartierville, Que.) recently resigned leader Michael Ignatieff and Toronto MP Bob Rae (Toronto-Centre, Ont.)—gobbled up large donations from the largest number of donors.
"It's so difficult anyway because the pool from which to gain any more contributions for a 2006 leadership was already diminished in 2007 and 2008," Ms. Hall Findlay said. "We all pulled together to get what we could, there just isn't that much out there."
Gerard Kennedy, whose Parkdale-High Park riding in Toronto reverted to New Democrat Peggy Nash, still owes $126,963 in loans and $37,230 in unpaid claims. Joe Volpe, who lost Eglinton-Lawrence in Toronto to Conservative Joe Oliver, has a debt of $73,079. Ken Dryden, who lost York Centre in Toronto despite a last-minute rally by Michael Ignatieff and former prime minister Jean Chrétien, still owes $91,603 in loans and $122,984 in unpaid claims.
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