The Quebec Liberal Party, which is struggling to mobilize donors, recently borrowed $4.7 million from its buildings to pay for its campaign expenses, our Bureau of Investigation discovered.
• Read also: Once Kings of Election Finances, Liberals Now Last
The training directed by Dominique Anglade has taken out a mortgage on two buildings it owns in Montreal and Quebec.
On August 17, it notably borrowed $3.6 million from the National Bank, with the building that serves as its head office, on Queen Street in downtown Montreal, as collateral.
The building was previously debt free. The Liberal Party of Quebec (PLQ) bought it for $3 million in cash in 2015, after the sale of its former headquarters on Waverly Street for more than $6 million.
During its August 17 visit to the notary, the QLP also borrowed just over $1 million from a building on Wilfrid-Hamel Boulevard in Quebec City.
Photo Stevens Leblanc
The Liberal Party of Quebec has also mortgaged another building belonging to it located on Wilfrid-Hamel Boulevard in Quebec City, for $1.1M.
On Monday, our Bureau of Inquiry revealed that compared to the four other major parties, the PLQ is dead last in terms of popular financing.
For example, it has collected three times less than the Coalition Avenir Québec since the beginning of the year, about two times less than the Parti Québécois and Québec solidaire, and $200,000 less than the Conservative Party of Québec.
Borrow to pay
The PLQ, on the other hand, has the advantage of being able to borrow against its buildings to pay for groceries. It is the only one of the five major parties that claims to own buildings and land.
Julie Martel, director general of the PLQ, assures that the training presented a plan to repay everything “in less than 6 months”.
“We had to set up a payment facility for the electoral campaign […] and we chose to use our buildings,” she explains in an interview.
Ms. Martel takes the financial situation of her party “very seriously”.
“What I want, at the end of the day, is for my boss to have everything she needs to do the campaign she wants to do,” she promises.
“This is the first time I’ve heard that they are going to mortgage real estate in Montreal to campaign,” observes Éric Montigny, professor of political science at Laval University.
According to him, the PLQ has the advantage of being able to draw on its “old-won”.
Mr. Montigny recalls that a party “can be refused its official accreditation if it does not reimburse its campaign debts” in less than 120 days. This loan therefore gives the PLQ additional leeway.
Thinking to sell
The PLQ even opens the door to selling its buildings in the medium term, in the context of post-pandemic telework.
“There will be a reflection to have after the next election, explains Ms. Martel. If we sell the hotlines, we will have to relocate. »
Less money locally
- The delicate financial situation of the Liberal Party of Quebec could be felt in some local associations, recognizes the CEO of the party.
- “There are associations which, rather than having $35,000 Where $40,000will perhaps have a little less,” agrees Julie Martel.
- “All our candidates will have their sign, their door hanger, everything they need,” she assures us, however.