The Conservatives plan to limit lending and political cover was praised on Wednesday the NDP. Although the draft law includes conservatives, for now, spare parts new Democrat leadership candidates rigid standards, while making it more difficult for the Liberal leadership contestants to raise money.
Democratic Reform Minister Tim Uppal told reporters Lending Act liability policy "level the playing field" by prohibiting loans from corporations and unions and limiting the amounts individuals can lend or borrow from others.
The wealthy candidates or those who have access to easy money would no longer have the ability to finance their own campaigns, Uppal suggested.
"We're not that wealthy individuals who have an undue influence on the political process," he said.
Government bill would only allow political parties, riding associations, candidates and leadership contestants to obtain loans from financial institutions or political parties and mount the association themselves. Terms of mandatory disclosure in the information, such as interest rates on loans and the identity of lenders and loan guarantors also be imposed. And the candidates also would not be able to get away from unpaid loans, writing them off as donations, such as political parties and associations responsible for the money without paying.
"Every day Canadians are expected to repay loans under strict guidelines. The same can expect from their politicians," said Uppal.
NDP MP Pat Martin told The Huffington Post that he is happy with the legislation despite the parties with deeper pockets will be able to finance the candidates so that small parties can not - a move that conservatives support the benefits for now.
Elections Canada data released Wednesday shows the Conservative Party continues to have the deepest pockets. The Conservatives raised $ 18,643,508.09 for 132,438 taxpayers during the first three quarters of 2011. That's more than double its nearest competitor fundraising, liberals, who raised, $ 7,595,957.36 from 68,372 contributors in that period of time. The NDP raised $ 5,892,672.81 from 54,349 contributors, the Green Party $ 1,328,682.85 of 13,422 employees and the Bloc Québécois $ 649,747.73 of 6,615 employees. (Individuals can have more than one grant).
"It's inevitable," said Martin, the advantage of conservatives. "It needed a fallback position. Had to be a classification in which whether to put these severe restrictions in place. We must remember that the purpose is to prevent Mr. Moneybags purchase of an election."
Although Uppal told reporters he expects the NDP leadership candidates defend the "spirit" of the legislation, even if the bill is not retroactive and, unless amended, shall not apply before the party convention Leadership March 24, Martin said he hopes his fellow Democrats New to comply with the letter of the law as it exists today.
"I think he's playing dumb guy that when he took the jab," he said. "It's unfair to ask people to restructure their political campaign for a whole new legislation has been referred to."
One of the candidates of the NDP, Nova Scotia businessman Martin Singh, and was paid $ 35,000 to an interest rate of 5.5 percent.
Brian Topp, the only candidate so far has submitted a registration with Elections Canada, won a $ 50,000 loan at 4 percent interest for Creative Arts Savings and Credit Union.
The Liberals, however, face a leadership race in 2013 will have to comply with new rules.
The bill announced Wednesday the bill is exactly the same as the Conservatives tried to introduce in 2010. It limits the total amount people can pay the current limit of donation, $ 1,100 in 2011 and $ 1,200 in 2012.
And though critics have suggested that the legislation will make it difficult for the poorest people, people with bad credit and, in some cases, women become candidates, dismissed the idea saying Uppal people can get loans all types of financial institutions, such as credit unions and trusts.
Martin said the project was a good first step.
"I support this bill, I think it is a necessary modification to plug a gap of many years that we lost when we try to reform the financing of elections. We have to take big money out of politics" he said.
Conservatives, however, Martin said, could have taken the opportunity to introduce more comprehensive legislation on political funding.
"They have removed $ 2 per vote public subsidy and do nothing to change that. I'm not saying that this measure is free from politics, but is an improvement. "