FG and FF want funding details withheld

Plans to force political parties to publish full financial accounts annually are facing resistance from Fine Gael and Fianna Fáil, who have expressed concerns about the implications for local branches.

The Standards in Public Office Commission (Sipo) has proposed new guidelines for parties on publishing full details of their books and accounts every year.

This will include detailed disclosure of income, expenditure, assets and debts — including loans — by all political parties. The proposals also include the introduction of financial reporting system by local party organisations — which are believed to be significant sources of political funds. It proposes a transitional arrangement for 2014 to 2016 to allow the amalgamation of party branch finances into the national accounts.