Liberal Party financially bankrupt too?

As most of you have probably heard by now, Elections Canada released the figures of the submitted 2004 returns of the Conservative Party, the Liberal Party, the NDP and the Bloc. The report noted that the parties raised $10.9 million, $5.2 million, $5.2 million, $897,000 respectively for the fiscal year of 2004, an election year.

Not only did the Liberals raise less than half of the amount compared to the Conservatives, they raised the same amount as the NDP. Also, the Conservative cash came from 68,382 donors, and that of the Liberals came from 17,429 donors. The Conservatives are showing some real grassroots support, a trend that has continued from 2003.

But what you might not have heard is that the Liberal Party of Canada is in serious financial trouble. The party took out $35 million in loans during 2004, according to Elections Canada.

The report further states that the Liberals have $75,000 in outstanding bills to Bell Mobility, Delta Hotels and PricewaterhouseCoopers.

The party took out $35 million in loans last year and they only raised $5.2 million? Perhaps its the Liberals who don’t want an election right now. Not only do they fear being punished for their state of moral bankruptcy, but it seems that they are financially bankrupt as well.

Remember too that they owe a few more hundred million dollars to the Gomery trust fund.