PC Party financials reveal $1.5 million debt from 2015 election

Reports of the death of the Progressive Conservative Association of Alberta might only be slightly exaggerated. Financial disclosure reports submitted to Elections Alberta show the former governing party amassed a $1.5 million debt during the May 2015 election.

After reportedly nearly missing the deadline to submit its financial disclosures from the recent provincial election, the PCs posted the disclosure on its own website, which provides some detail into the overwhelming wealth of the former governing party during its failed attempt at re-election in May 2015. (The full report is now posted on the Elections Alberta website).

The disclosure report provides information about a $2,000,000 loan secured by the PC Party from the Canadian Western Bank with an outstanding balance of $1,544,866 as of July 5, 2015. Security on the loan includes a personal guarantee of $1,455,000 from a former director, who is unnamed in the document.

The report shows the PCs raised $2,802,500 in donations greater than $250 and $90,625 lower than $250 during the April 7 to July 15, 2015 campaign period. The PCs spent $4,303,969 and ran a deficit of $930,236 during the election campaign.

In response to its financial troubles, the party received significant financial transfers from some of its wealthier constituency associations, including $30,000 from Edmonton-Whitemud, $25,000 from Calgary-Elbow, $20,000 from each Calgary-Varsity and St. Albert, and $15,000 from Whitecourt-Ste. Anne.

Major donors listed on the PC Party’s financial disclosure include Richard Haskayne ($30,000), Ronald Joyce ($30,000), Ken King ($30,000), Calfrac Well Services Ltd ($30,000), MacLab Hotels & Resorts Ltd ($30,000), Matco Investments ($30,000), Christopher Potter ($30,000), Primrose Livestock Ltd ($30,000), Susan Rose Riddell ($30,000), Clayton Riddell ($30,000), Ronald P Mathison Private Banking Ltd ($30,000), Cathy Roozen ($30,000), Mike Rose ($30,000), Shane Homes Ltd ($30,000), Walton International Group Inc ($30,000), TIW Western ($25,000), CIBC ($23,750), Scotiabank ($23,750), BMO Nesbitt Burns Inc ($20,000), Matthew Brister ($20,000), Brian Michael Brix ($20,000), Grandview Cattle Feeders Ltd ($20,000), Kolf Farms Ltd ($20,000), Kelly Koss ($20,000), Mancal Corporation ($20,000), Kyle Ross ($20,000), Nancy Southern ($20,000), and Sunset Feeders Ltd ($20,000).

During its 44 years in government the PCs were able to depend on large corporate donors to help pay off campaign bills and debts, but the party has struggled after corporate donations to political parties were banned by the first law passed by the Alberta NDP Government in June 2015. Interim leader Ric McIver initially denounced the ban, but later stood with the entire nine member PC caucus in voting in favour of the bill.

The PCs will hold their annual general meeting in spring 2016 and have launched a 500-Day Plan to prepare the party for the 2019 provincial election. The PCs are expected to choose a permanent leader in early 2016.

New Unite the Right By Moving Further to the Right Group

According to a report from the Calgary Herald, a new group calling themselves “ The Alberta Prosperity Fund” has launched the latest bid to unite the two main conservative parties in Alberta. The private group is reported to have looked far to the political right for inspiration by inviting American anti-tax crusader Grover Norquist as guest speaker to a closed-door session in Calgary this week. Mr. Norquist is known for his role in pushing the Republican Party further to the political right, contributing to the deep political division in America.

The group is headed by Barry McNamar, a former vice-president of the right-wing Fraser Institute and director of the Calgary School of Public Policy. It is unclear who is providing financial support for the Fund.

Responding to the group’s formation, Wildrose Party leader Brian Jean told the Herald that “[w]e have had our lawyer send them a letter requesting that they stop telling people they have our endorsement or support.“