Party aims to build up war chest of €5m from the wealthy

Fianna Fáil: Fianna Fáil, once again, is expected to be the biggest spender in next year's general election

Fianna Fáil: Fianna Fáil, once again, is expected to be the biggest spender in next year's general election. In 2002 the party headquarters spent a total of €1.6 million, and its candidates a further €1.9 million on their own personal campaigns.

It also pioneered the high pre-election spend tactic with expensive billboard campaigns, polling, and expensive political research and consultancy advice all taking place in late 2001 and early 2002.

This time round, in broad terms, the party is expected to spend up to €2 million on its pre election campaign, and a further €2 million during the campaign itself, financed from a €5 million fundraising drive.

The pre-election campaign includes two national conferences, the first of which was held earlier this month. Leafleting, billboard campaigns and research are also likely to form part of its pre-election spend.

READ MORE

Despite its reputation as the party with wealthy backers and supporters, Fianna Fáil has not been flush with money in recent years. The party does not publish detailed accounts, but it is believed that it still has a debt of at least €1 million, despite the sale of its city-centre headquarters five years ago.

The amount of private funding Fianna Fáil can attract remains significant. In a non-election year it might expect to raise in the region of €1 million to €1.5 million. This includes €200,000 from golf classics, €160,000 from the infamous Galway Races tent and a similar amount from an annual fundraiser at Leopardstown racecourse.

It takes just over €220,000 from its national collection, which is the single biggest fundraising source. Its national draw takes in marginally less. The remainder is made up of Cairde Fáil, a dog racing night and one-off donations.

The absolute amount of one-off donations the party attracts in a non-election year is unknown, as the majority are believed to be of €5,000 or less in value. Last year the party declared €69,000 in donations of more than €5,100 in value which it had to declare.

Since last year, however, the party has put in place a new fundraising committee, headed by Eircom's chief financial officer Peter Lynch, with an aim of raising a war chest of up to €5 million, mainly from wealthy individuals.

Mr Lynch and his voluntary fundraising team have been targeting wealthy individuals for donations of anywhere between €500 and €6,000, through private fundraising dinners and direct contacts. The majority of the donations to date have been under the €5,000 declaration mark.