Ontario PC party ran a $1.9M deficit in 2019
Ontario’s four sitting political parties have filed their annual financial returns for 2019, and some closed out the year in better financial shape than others.
The Progressive Conservatives closed out the year with over $3.1 million in the bank and recorded $4.2 million in debt on the books, with total liabilities and surplus amounting to around $3.9 million. The party also reported a nearly $1.9-million deficit.
The NDP ended 2019 with $2.1 million in cash, as well as a $2.5-million surplus and $1.25 million in debt, which the party says was paid off in January 2020.
The Liberal Party — which ranks third in the legislature but second in fundraising so far this year — had just over $1 million under its belt at the end of last year, about $2.3 million in debt, and a deficit of almost $400,000. The party’s total liabilities and surplus came in at over $2.3 million.
As for the Greens, the party reported about $927,000 in cash and no borrowings.
Parties that earned a certain percentage of votes in the last election are also eligible for the per-vote taxpayer subsidy (which is gradually being phased out as the individual donation limit increases).
The quarterly allowance is in line with party standings. In 2019, the majority PCs pocketed about $5,526,800, the Opposition NDP brought home $4,584,636, the Liberals took in $2,670,804 and the Greens earned $785,510.
For the first three quarters of 2020, the PCs have received a total of $3,852,012, the NDP got $3,195,354, the Liberals received $1,861,470 and the Greens got $437,982.