High-stakes gamble could leave the losers €500k out of pocket
PRESIDENTIAL candidates who lose out can be left with a half-million euro hangover, the election rules will warn. The draft guide puts the spending ceiling at €750,000 but the most they can recoup is €200,000.
Candidates who spend more will be committing a criminal act.
The high cost of the campaign is why candidate Gavin Duffy said he will take a full salary should he be elected.
Only candidates who win a quarter of a quota – about 250,000 votes out of a likely number of a million votes – will be reimbursed.
And there are some very strict funding rules. For instance ‘expenses by “other persons” on a candidate’s behalf are regarded as donations.’ But loans are not, if they are at normal commercial rates.
The watchdog has also issued warnings on what cannot be claimed as expenses and even issued a list of items ‘which are not regarded as election expenses and which were accounted for, incorrectly, as election expenses at previous elections’.
These include: ‘thank you’ adverts after polling day; a free post service given to all candidates; removal of election posters after polling day; ‘thank you’ cards, leaflets, newsletters, etc distributed outside of the election period; and a ‘close of poll’ party.