Mr. Speaker, during the most recent Liberal leadership race, in order to help pay for the campaigns, the Liberal leader and other Liberal candidates were given millions of dollars in loans from wealthy and powerful individuals.
Under the Canada Elections Act, candidates can receive loans during a leadership race. However, these loans must be paid back within 18 months or they become illegal donations. The 18 month deadline is June 3.
Therefore, the former Liberal leadership candidates have exactly one week to pay back the millions of dollars in loans they took out from their elite backers for their leadership race.
This also means that Elections Canada has one week to decide if it will give the Liberal Party special treatment by extending the payback deadline.
Will the Liberal leadership contestants miss their loan repayment deadline, thereby ignoring contribution limits and breaking the law, or will Elections Canada give special treatment to the Liberal Party by extending the payback deadline?