Banks Dole Out Cash To The Parties
The Age
Tuesday February 2, 1999
CANBERRA
Westpac bank paid out nearly $400,000 to the major political parties in the financial year before the federal election.
The bank donated $182,550 to the Liberal Party, $153,500 to the ALP and $55,500 to the Nationals, according to details of donations to political parties released yesterday by the Australian Electoral Commission.
Westpac gave the two major parties $100,000 each in the year before the 1996 election.
The donations came at a time of continuing pressure from sections of the banking establishment for the Federal Government to remove the four pillars policy that prevents the major banks from merging.
The ANZ donated $100,000 to Liberal Party coffers, $10,000 to the National Party and $23,000 to the Labor Party but others of the ``big four" banks were less generous.
The Commonwealth donated $20,685 to the Liberals and $8890 to the ALP and the National Australia Bank, a big donor to the coalition in past years, did not feature this time.
Corporate Australia and unions continue to bankroll the election campaigns of the major parties, with many big companies giving to both the coalition and the ALP.
In all, ALP branches across Australia collected $21,689,794 compared with the Liberal Party's $19,156,734.
Most huge donations came from secretive foundations.
The Free Enterprise Foundation raised $640,560, of which $630,991 was paid out directly to the coalition parties or on their behalf.
The Cormack Foundation raised $2,447,920, of which $905,000 went directly to the Liberal Party and other money went to organisations such as the conservative think tank, the Institute of Public Affairs, which got $15,000, and the Institute for Private Enterprise ($10,000).
Tobacco giant Philip Morris Ltd paid $61,400 to the Liberal Party and $54,000 to the Opposition.
The controversial Greenfields Foundation received a payment of $100,000 from the Liberal Party, which, the returns revealed, still owed it $4.5 million.
The Opposition has claimed that the low payment, well below commercial interest rates, confirmed that the Greenfields Foundation debt was a ``gift in kind" designed to neutralise an old debt to the National Australia Bank.
The lobby group, the Friends of the Pharmaceutical Industry, paid $53,000 to the Liberals, $8000 to Labor and $5000 to the Fred Nile group.
Some went out of their way to be even handed. Croissy Ltd had a bob - or rather $75,000 - each way with equal donations to the Liberal and Labor parties.
The film distribution company Village Roadshow showed no such confusion - $107,140 to the Liberals with no apparent balancing gift to Labor. Rival Hoyts Corporation found $76,000 for the Liberals and $25,000 for the ALP.
The ALP's federal secretariat received payments totalling $3,755,766.97 and the Victorian branch received $2,979,009.58.
The federal Liberals received $3,695,298.79 and the Victorian division $4,565,152.
The donations did not always translate into votes. The Citizens Electoral Council, noted for curious views about the international drug trade being run by the Queen with Zionists and freemasons promoting terrorism, proved startlingly successful at raising money.
It collected very few votes, 744 for its leader, Mr Craig Isherwood, in Victoria, but received $1,023,157.60 from its supporters.
One Nation received contributions totalling $536,000 and Australians Against Further Immigration said it received $11,094.85.
TURNING THE POLITICAL WHEELS
The big donors
* Santos Ltd
$90,500 to the ALP, $271,250 to the Liberals, $$25,000 to the Country Liberal Party in the NT and $25,000 to the Nationals.
* Westpac Bank
$182,550 to Liberals, $153,500 to ALP and $55,500 to Nationals.
* Commonwealth Bank
$20,685 to the Liberals and $8890 to the ALP.
* ANZ
$100,000 to the Liberals, $23,000 to the ALP and $10,000 to the Nationals.
* Western Mining Corporation
$130,000 to the Liberals, $30,000 to the Nationals and $30,000 to the ALP.
* Pratt Holdings
$175,000 to the Liberals and $54,000 to the ALP.
* Philip Morris Ltd
$61,400 to the Liberals, $54,800 to the ALP and $25,000 to the Nationals.
* Village Roadshow Ltd
$107,140 to the Liberals.
* Hoyts Corporation
$76,000 to the Liberals and $25,000 to Labor.
* Croissy Ltd
$75,000 to the ALP and $75,000 to the Liberals.
* Fosters Brewing
$14,240 to the ALP and $18,005.80 to the Liberals.
* Coopers Brewery
$2000 to the Liberals.
* Cormack Foundation
Raised $2,447,920 of which $905,000 went directly to the Liberals.
* Free Enterprise Foundation
Raised $640,560 and paid out $630,991 to or on behalf of the Liberal and National Parties.
* Greenfields Foundation
Received $100,000 from the Liberal Party which, the returns reveal, still owes it $4.5 million.
* Friends of Pharmaceutical Industry
$53,000 to the Liberals, $8000 to Labor and $5000 to the Fred Nile Group.
* One Nation received contributions totalling $536,000.
* The National Audit Office paid the ALP rent of $3.6 million for its offices in John Curtin House, Canberra.
© 1999 The Age