The federal Liberals say they’re debt-free, 14 months after the election

The federal Liberal party says it’s debt-free, roughly 14 months after sweeping to power in 2015, thanks largely to new members who signed on as supporters during an aggressive fundraising campaign.

In a letter to the party’s national board, party president Anna Gainey says the Liberals paid off the remaining $1.9 million it still owed from the election campaign that put Justin Trudeau in the prime minister’s chair.

READ MORE: Tories call for investigation into Liberal cash-for-access fundraisers

The letter, sent to board members late today, says the debt was paid off as of last month, and also notes that the party has enlisted an additional 50,000 members since opting in May to waive membership fees.

The Liberals spent a little more than $40 million during the campaign, Liberal national director Jeremy Broadhurst estimated shortly after it was over.

2:29 Liberals continue to be attacked over doing business at fundraisers

• Liberals continue to be attacked over doing business at fundraisers
• Liberal government denies Morneau’s $1500 per ticket event was a secret fundraiser
• Liberals under fire for fundraiser with Justice Minister Jody Wilson-Raybould
• Trudeau denies government business discussed at party fundraisers
• Ambrose continues to hammer Trudeau over pay-for-play fundraisers

Previous Video

Next Video

Since then, the party has been emailing supporters and potential donors at every turn, encouraging them to out-donate the Conservatives, who had shown they were adept at garnering grassroots support.

Gainey says the fundraising paid off, with the Liberals surpassing the Tories with individual donations from 35,000 people through six consecutive quarters, averaging $43.26 each.

“Our strong grassroots fundraising efforts, the elimination of our campaign debt in 2016, and the 50,000 Canadians who have joined us as new registered Liberals are all important milestones that ensure we are starting off 2017 as a fast-growing and ever more inclusive political movement,” she writes.

Gainey attributed the sharp increase in party memberships to a decision taken at the Liberal biennial convention in Winnipeg to eliminate fees.

READ MORE: Liberal fundraisers being investigated by lobbying watchdog

The Conservatives revealed last May that they spent $42 million during the 2015 campaign, but had already paid off a $28-million loan by then, using a combination of tax and Elections Canada rebates and party fundraising.

Elections Canada had capped spending by the major national parties for the 11-week campaign at just under $55 million each.