Hustle and cash flow

The provincial New Democrats are "now faced with a post-election cash flow crunch and debt that, while not unanticipated, was significantly more than had been expected." That's what the rank-and-file were told at the party's recent biennial convention. At the time, then New Democrat treasurer Cheryl Hewitt claimed "it was hard to tell" just how much the party dipped into the red during the campaign. But now, four months later, we have the answer to that question.

According to a fundraising letter sent to one supporter in February and seen by Public Eye, the party still has "$2 million in debt from the election" - although it's already "managed to pay off over $500,000" of that bill. The letter, which was signed by New Democrat president Moe Sihota and provincial secretary Jan O'Brien, also states "the BC NDP Executive in January put together a plan to clear the remaining debt by the end of the year." And for good reason: right now, many of the party's resources "are going to service the debt - about $100,000 in interest payments."

1 Comment

It sure gives one a lot of confidence in the ability of these political parties to handle the taxpayers hard earned money when they seem to have a problem handling their own. Both the NDP and the Liberals overspent millions in the last election. What is wrong with this picture?

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