Feb 2, 2018

Guess which industry still contributes the most in corporate political donations …

We can see how major industries contributed to the political parties -- and how much the parties aren't telling us -- from new donations data.

Bernard Keane and Jane (Crikey Engagement Manager)

Politics editor / Engagement manager

The finance industry remains the biggest source of corporate donations to the major parties, but the Coalition's once potent advantage in corporate fundraising was partially erased in 2016-17.

An analysis of annual donation disclosures data from the Australian Electoral Commission showed that the finance industry gave around $857,000 to the Liberal and National parties, and just over $705,000 to the Labor Party. That was about $150,000 less than its total contribution in 2015-16. ANZ -- with a straight $150,000 donation to each side, was the biggest donor along with Macquarie Bank, which gave a total of $157,000 to the Coalition and $93,000 to Labor. Labor's share of the finance industry contribution is around the same as in 2015-16, but significantly up from 2013-15, when its share dropped below 40%.

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9 thoughts on “Guess which industry still contributes the most in corporate political donations …

  1. klewso

    Tuppence in “Hi Vizy” advertising mode?

  2. Peter Hamish

    Tis no surprise Bernard, that financial institutions are the biggest donors to the major political parties.
    Especially when you consider that the Libs, and Labor would be no different, are trying to ram a bill through the senate that gives the Govt and APRA new discretionary powers to confiscates bank deposits during times of financial crisis…alas, the “bail-in”.
    “Financial Sector Legislation Amendment ( Crisis Resolution Powers and Other measures ) Bill 2017.” Cypress was the trial run and Politicians as usual are asleep at the wheel.

    1. Syd Thomas

      I have heard about this. Apparently there has been over 2,000 submissions to politicians, urging them to throw out this legislation and see it for what it is.
      But what you did n’t spell out, is that it’s the banks, not the Govt or APRA, that will be the recipients of people’s bank deposits. And in return the deposit holders will receive worthless bonds or even worse, worthless shares.
      This Bill allows APRA discretionary powers to decide secretly whether to protect depositors or to promote financial system stability in a system that is long past saving. Which way will the politicians go?

    2. zut alors

      Whaaaaat? I must’ve been living under a rock not to have heard about this atrocious proposition. How ironic that it was a Liberal PM, Malcolm Fraser, who advised us to stash our cash under the bed where it would be safer than under an Opposition government.

      Please Crikey, more on this proposed Bill.

      1. Syd Thomas

        It’s chronic, isn’t it? Not a whimper or even an indistinct murmur from the mainstream media. The Australian people are about to have one of the greatest if not the greatest deceptions ever thrusted on them and absolutely nothing from the MSM…zilch..zero..nullity..nill…zip…FA.
        Religion is not the opiate of the masses…it’s the media.

        1. AR

          Well, the media tries to be the massage.

          1. Syd Thomas

            Yeah, but minus the “happy ending.”

    3. zut alors

      Thanks for this, Peter. Having done some online research it’s astonishing to discover nothing published in the MSM about it.

      Can’t wait to break the news to conservative pals to hear them explain their way around this potentially disastrous Bill sponsored by their beloved Coalition.

  3. AR

    And when cash is almost forgotten and regarded with suspicion, confiscation will be a snip.
    Coming soon to an empty ATM near you.

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