Friday, March 29, 2024
ADVT 
National

NDP Ended 2018 With Nearly $4.5 Million In Negative Net Assets, Return Shows

Darpan News Desk The Canadian Press, 06 Sep, 2019 08:48 PM

    OTTAWA - The federal New Democrats ended last year by going deeper into the red.

     

    The party's annual return posted to the Elections Canada website shows the party finished 2018 with about $4.7 million in assets and $9.2 million in total liabilities, meaning they ended the year with $4.5 million in negative net assets.

     

    That makes the third year in the row the party has filed an annual financial return where total assets were less than overall liabilities.

     

    The NDP ended 2017 with about $3.1 million in negative net assets.

     

    It is also the worst balance sheet since 2001, which is the earliest year for which the reports are available online.

     

    The Conservatives ended 2018 with $5.1 million in net assets and the Liberals had $1.7 million.

     

    The return shows the NDP spent about $1.4 million more than it had coming in last year, an operating deficit that is about the same as it was in 2017.

     

    The cash-strapped status of the NDP comes alongside questions about the party's ability to recruit candidates to run for office in the Oct. 21 election.

     

    NDP Leader Jagmeet Singh said Friday in Quebec City that he expects to have candidates in 302 of 338 ridings in place within the week.

     

    Melanie Richer, a spokeswoman for the NDP, said the balance sheet does not take the appraised value of the Jack Layton Building in downtown Ottawa, which the party owns and houses its headquarters.

     

    The filing shows the building and the land it stands on had an appraised value of nearly $7.9 million as of March 2018.

     

    "If Elections Canada operated like any accounting firm, that would be reflected in the net asset amount," Richer said in a statement.

     

    Richer also noted donations were up last year, a trend she said continued into the first half of 2019.

     

    The annual financial return shows the NDP received about $5.2 million from supporters in 2018, which is about $80,000 more than the year before.

     

    "We've been consistently beating our projections since the beginning of the year," said Richer.

     

    The NDP received about $2.66 million in contributions from Jan. 1 to June 30 this year.

    MORE National ARTICLES

    Uncertainty Over Start Date, Debates Ratchet Up Pre-Election Angst

    A campaign that could start at any time and a debate schedule that is itself the subject of debate are intensifying pre-election jitters in Ottawa going into the weekend.

    Uncertainty Over Start Date, Debates Ratchet Up Pre-Election Angst

    Conservatives Still Working On Candidate Harassment Policy Promised This Year

    The federal Conservatives are still working on an anti-harassment policy that would apply to candidates in the coming election campaign.

    Conservatives Still Working On Candidate Harassment Policy Promised This Year

    SEE PICS: India Pavilion At Toronto International Film Festival Inaugurated

    The India Pavilion at the 44th Toronto International Film Festival (TIFF) was inaugurated by the High Commissioner of India to Canada, Vikas Swarup.    

    SEE PICS: India Pavilion At Toronto International Film Festival Inaugurated

    1 Man Dead, 2 In Custody After Early Morning Shooting In South Surrey, IHIT Investigating

    1 Man Dead, 2 In Custody After Early Morning Shooting In South Surrey, IHIT Investigating
    The male has unfortunately succumbed to his injuries and 2 people are in custody.

    1 Man Dead, 2 In Custody After Early Morning Shooting In South Surrey, IHIT Investigating

    Spy's Eye: A Dangerous Spin To The Kashmir Narrative

    Spy's Eye: A Dangerous Spin To The Kashmir Narrative
    The abrogation of Articles 370 and 35A by the two Houses of Parliament of India with a two-third majority, led to sharp criticism from the principal domestic opposition in India,

    Spy's Eye: A Dangerous Spin To The Kashmir Narrative

    Greater Victoria Students Provided With Equitable Access To Free Menstrual Products

    Education and community partners gathered at Reynolds Secondary school to celebrate the official launch of the Greater Victoria school district’s efforts to provide stigma-free access to menstrual products for all students.

    Greater Victoria Students Provided With Equitable Access To Free Menstrual Products