FUNDING:THE PRESIDENTIAL election has proved a disaster for Fine Gael, not only electorally but financially.
The party’s candidate Gay Mitchell, along with three Independents, failed to get enough votes to qualify for a reimbursement of expenses.
Fine Gael re-mortgaged its headquarters in Dublin earlier in the year to create a “war chest” to fight the election. It did so in the expectation that its candidate would reach the quota for getting back their election expenses, and would probably win the election.
The party is facing a massive bill after a dismal campaign that failed to fire from the start of the campaign. Mr Mitchell said during the campaign he would be spending up to €350,000 but the final figure is expected to exceed this.
The other big loser, financially, is Mary Davis, who said during the campaign she planned to spend €350,000. Having finished last with just 2.7 per cent of the vote, she will not qualify for recoupment of any of her expenses.
Michael D Higgins, Seán Gallagher and Martin McGuinness will all qualify for reimbursement of up to €200,000 in expenses after reaching the 12.5 per cent quota provided for under the regulations.
Labour, which planned to spend more than €320,000, will still have to pay the balance of its bills. Mr Gallagher, who estimated his spending at €200,000 is unlikely to be much in debt as he did not use posters, which can cost up to €200,000 when used nationwide.
Mr McGuinness, who entered the race relatively late, is also unlikely to be facing major bills.
Dana Rosemary Scallon’s husband Damien said yesterday they “hadn’t a clue” how much her campaign had cost. “We didn’t spend too much, though, as we didn’t use posters and came into the campaign late.”
Independent Senator David Norris also failed to qualify for expenses. Although he was an early entrant into the race, he later withdrew and then re-entered. From this point, he limited his spending by not using posters or employing a large campaign staff. During the campaign, he said that if he didn’t qualify for expenses, he would lose his entire life’s savings and would be left with a considerable bank loan.