Second FF source says party has €1.5m debt

A SECOND senior Fianna Fáil source has indicated that it has debts approaching €1.5 million despite official denials from the party.

According to the source, the party has seldom been out of the red in its recent history, but the level of its debt increased steeply last year because of three costly electoral campaigns involving the party.

Describing three campaigns in one year as “unprecedented”, the source said the party was not unduly concerned about the debt and pointed out that the level of debt has been higher. At one stage during the late 1980s and early 1990s, it had reached a figure of £2 million (€2.54 million), a debt that was later largely cleared.