FF hit by €1.5m debt as donations laws kick in

FIANNA FÁIL has run up debts of €1.5 million following three costly electoral campaigns last year that severely hit the party’s finances.

An informed party source confirmed to the Irish Examiner that the combination of last year’s General Election and the abortion and Nice referenda had left the party facing debts approaching €1.5m.

One of the reasons behind the dramatic downturn in the party’s financial situation has been the impact of legislation introduced last year that capped corporate donations to the party at €6,350. Previously the party had been able to rely on large donations from business interests to a much greater extent than its political rivals.