SF will benefit by up to €1.2m in extra taxpayer cash after its success in the General Election
SINN Féin will see its coffers boosted to the tune of between €561,000 and almost €1.2m in taxpayer cash, depending on whether it goes into government or stays in opposition.
Meanwhile, Fianna Fáil is set to lose a large chunk of its State funding due to its seat losses in Election 2020, no matter which path Micheál Martin chooses to take.
And Fine Gael will get a slight increase in State funds if it goes into opposition.
The election results are set to have a dramatic effect on the fortunes of all the political parties in terms of how much State funding they will be entitled to.
There are two sources of State funding – money available under the Electoral Acts 1997 and the Parliamentary Activities Allowance (PAA). The Electoral Acts funding is allocated to the parties in line with the percentage of firstpreference votes they got in the last general election.
The PAA is based on the number of TDs and senators a party has. Parties in government get a third less funding in this category.
They can’t spend the money from either of the two funds directly on election or referendum expenses.
Sinn Féin could see its coffers boosted by around €1,180,000 a year to a total sum in the region of €3.6m if it stays in opposition.
That’s not taking into account additional funding it would be in line for depending on how many Sinn Féin senators are elected in the upcoming Seanad vote.
If the party is in government it would still see an increase of at least €561,000.
Sinn Féin last night said the differing sums on offer would “absolutely not” play a part on its decision on whether or not to go into government.
A statement said its aim was to form a government that builds homes, cuts rents, reduces the pension age to 65 and advances Irish unity.
Sinn Féin’s finances are in exceptionally good health following a bequest from eccentric English millionaire William Hampton. It has already benefited to the tune of €2.3m from Mr Hampton’s estate. However, it was reported by RTÉ in December that the ultimate value of the estate could be around €4.7m.
Fianna Fáil got just over
€4m in State funding in 2018 and would lose around €384,500 a year if it stays in opposition. However, it stands to lose far more – an estimated €1m – if it does a coalition deal because it lost seats and government parties get less funding than those in opposition under the PAA.
A Fianna Fáil spokesman said the issue of how much State funding the party gets has “no role in our efforts to establish a Fianna Fáil-led government”.
Fine Gael got €3.6m in State funding in 2018 and could lose around €530,000 a year if it is returned to government. Going into opposition would see it in line for around €71,000 more in taxpayers’ cash than it currently gets as it would get a boost from being entitled to the full rates under the PAA.
The Green Party would get around €865,000 extra in opposition or around €498,000 more in government. The Social Democrats would get around €244,200 extra in opposition or around €115,400 more in government.
All parties are in line for more funding depending on how many senators they have elected. Meanwhile, Peadar Tóibín’s Aontú will miss out on funding under the Electoral Acts. That’s because its 1.9pc in first preference votes is just under the 2pc threshold for the cash.
The Irish Independent’s calculations are based on the Electoral Acts funding allocated in 2018 – the most recent figures available.
The results aresetto havea dramatic effect on the fortunes of all the political parties