Mr. Speaker, I look forward to speaking on this piece of legislation. Similar legislation has been before the House on previous occasions. This bill has gone to committee and now is back in the House. I am going to talk about some of the committee recommendations throughout my speech.
One thing we have seen recently is that Canadians have been very intrigued by and very involved in following the U.S. Democratic race, with Barack Obama now poised to battle the Republicans and John McCain. I was always taken by the number of Canadians and the number of constituents and friends who were very much interested in that race and in the enormity of the U.S. political leadership race, including the work that goes into it, the money that goes into it and the whole issue of financing around selecting a leader for a particular party, in contrast to what we do here in Canada.
Obama himself was raising in the neighbourhood of $1.5 million to $2 million each day. The burn rate was about $2 million a day, depending on whether there was a caucus or a vote at the end of that month. An enormous amount of financial resources went into the selection of that leader.
That is in contrast to what happens here in Canada. I spoke with my colleague, the member for Etobicoke—Lakeshore. Over the course of the recent leadership campaign in the Liberal Party of Canada, he was a candidate and raised in the neighbourhood of $2 million. Over the entire length of that leadership campaign he raised $2 million, while the candidates to the south in the American race would do that in a day and burn that in a day.
Looking at our entire field, I think we had nine or ten who started out. The entire cost of our leadership campaign for the candidates was $14 million. I know that it has been an issue in the House and there have been questions and points made on those debts being repaid, but $14 million is a significant amount of money in the political landscape of this country, and $12 million has been paid back so far.
Last Monday was a significant date. Those leadership candidates had to have their repayment schedules tendered with Elections Canada as we go forward. They all complied with that rule. They all complied with those conditions. Those repayment plans have been put forward and approved by Elections Canada. However, we do see a stark contrast between the American system and the Canadian system.
I had the great privilege in 2003 to be appointed parliamentary secretary to the then prime minister, Jean Chrétien. In his last year in office, he brought to Parliament and to the Canadian people a shift in the paradigm with regard to how political parties are funded in this country. It was very significant.
For years, many political parties were funded by big corporations. As for the Liberal Party itself, looking back prior to 2003, major portions of our overall budget were contributed by the banks and major corporations. Whether it was real or not, there was always this perception that any of those large donors could curry favour with the government. We can argue about whether they did or did not. I am not convinced that they did.
The banks were fairly significant contributors. The biggest issue they tried to continue to push with the government was that of being able to merge. They pushed the issue of bank mergers for years and years.
They contributed to the parties, but those mergers were never approved by the Parliament of Canada and never supported by the Liberal Party. Nonetheless, whether or not they did curry favour, it was the perception. In essence, that is really what initiated and then drove the whole process in changing the way we fund political parties.
We made that shift. We certainly reduced the amount that corporations could contribute to national campaigns and to riding associations in the preparation of their campaigns. We also reduced the ability of unions to contribute as well. There were very significant changes through 2003.
Now, with the Federal Accountability Act put forward by the current government, we know that corporate dollars and dollars provided by unions are destined not to be accepted for political contributions. There was also an outright ban on loans from associations or unions.
As I said, this legislation in front of us has come to the House before. It was referred back to committee. Some very significant amendments were proposed through committee. There are three that I want to speak about and then I want to talk about the government motions.
The first amendment was put forward by the government itself. The Conservatives put forth an amendment to allow for loans and sureties that are repaid in the calendar year to not count against donation limits for that year. That was supported by all parties.
To give an example, if person A lends candidate B $1,000 in February and then repays the loan by April, then person A would be allowed to make another $1,000 loan guarantee in that same fiscal period. It makes sense and was supported by all the parties within the committee.
A motion put forward by our party and supported by the Bloc would have amended the bill to allow for donations to be made to leadership contestants on an annual basis rather than as the current law has it. That was voted down. It was not supported by the Conservatives or the NDP. The Bloc also brought forward an amendment.
I am running out of time, but let me say that now the Conservatives are looking at gutting those amendments that were made in committee. They are looking at taking them out of the bill. We do not think that is right.
The government is looking at putting forward three of its own motions. When we send a bill back to committee and have the opportunity to draw on the testimony of expert witnesses, I think we are foolhardy not to utilize that testimony. We do not think it is prudent or wise not to use it.
When the committee makes recommendations, we should stand by them. Certainly in this case, with the three recommendations that came from committee on this piece of legislation, it is the position of our party that we would like to see them included in the legislation.
Hopefully as this debate goes forward each of the parties will have an opportunity to speak to these amendments and to the government motions. Should there be support for those three amendments from committee, I think members will see the official opposition supporting this legislation.