Conservatives more than doubled Liberal fundraising in 2023, which they say is a record

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Pierre Poilievre’s Conservatives blasted past other parties in fundraising last year, raking in more cash than all of the other major political parties combined, in what the Tories said was a record-breaking year.

The final fundraising numbers for 2023 were released by Elections Canada Wednesday.

The Conservatives have traditionally dominated fundraising but they beat their previous record set in 2019 by more than $4-million and for the first time since Prime Minister Justin Trudeau became Liberal Leader, the Conservatives more than doubled their haul compared to the governing party.

On Parliament Hill Wednesday, the Conservatives said the numbers show Canadians are ready for change, while the Liberals tried to play down the results but acknowledged they have more work to do.

The Conservatives raised nearly $35.3-million in 2023, according to reports filed with Elections Canada. The Liberals placed a distant second in fundraising efforts, bringing in just $15.6-million in the same time period.

The Bloc Québécois raised $1.8-million last year, the NDP $6.9-million, the Green Party $1.9-million and the People’s Party of Canada raised $1.6-million. Only the Greens and the People’s Party raised less in 2023 than in the previous year.

The massive gain in donations for the Conservatives coincided with a significant jump in support for the party, according to public opinion polling. The party has held a double-digit lead in the polls since September, and raised more money in the last quarter (between October and December) than the NDP did in the entire year.

In the fourth quarter, the Conservatives raised $11.9-million, according to the Elections Canada filing.

“These results prove support for my common sense plan to axe the tax, build the homes, fix the budget and stop the crime,” Mr. Poilievre said in a press release.

His MPs credited their leader for the results and said it shows Canadians are ready for a change in government.

“I think it’s great, I’m not sure the Prime Minister does,” said B.C. Conservative MP Dan Albas.

In each of the last three election years, the Conservatives also out-fundraised the Liberals but were not able to translate that to a win. However, since 2014, the Conservatives have never clocked such a significant margin over the Liberals.

Until a last-quarter fundraising bump for the governing party, the Liberals had been on track for their worst fundraising year since Mr. Trudeau became Leader. The party raised $5.8-million in the last quarter.

Health Minister Mark Holland dismissed the Conservative fundraising record, accusing the party of making a “great profit” by exploiting people’s fears and selling “overly simplistic, snake oil solutions.”

He went on to compare the Conservatives and Liberals with the “fun parent” in a family versus the “bad guy.” The former, Mr. Holland said, tells their kids what they want to hear and that “all their problems aren’t their fault” while the latter delivers tough love.

“Yes, it’s a harder route. It’s a harder route to plow to be responsible, to put up your hand to try to make things better.”

In a statement, Liberal Party spokesperson Parker Lund pointed out that the governing party tends to spend much less than the Official Opposition in their fundraising efforts, meaning Liberal supporters get “far more value for their donations.”

The lopsided fundraising, though, leaves the Conservatives better positioned ahead of the next election, scheduled for 2025.

The Liberal Party has yet to launch an extensive ad campaign against Mr. Poilievre, a decision that has drawn significant criticism from Liberal supporters and some backbench MPs. In its response to The Globe, the Liberal Party did not say whether the substantially lower fundraising numbers will hold the Liberals back in their efforts to combat Mr. Poilievre, adding they won’t comment on their advertising strategy. Last year the Conservatives spent at least $3-million on an ad buy.

The Conservatives also raised more in each quarter of last year than the NDP did for the entire 12-month period. Still, Deputy NDP Leader Alexandre Boulerice said his party will have a “great campaign, whatever the amount of money we have.”

The Greens hit a 10-year fundraising low in 2023, but spokesperson Kevin Dunbar said the party believes the “end-of-year fundraising numbers indicate that the tide is turning.” The party’s fourth-quarter fundraising was nearly double each of the previous quarters.

The Bloc declined comment Wednesday.