14 Jul 2008
The Electoral Commission has today launched a consultation on setting a standard format for the submission of political party accounts.
At present, parties and accounting units use a variety of different accounting conventions and formats as the law only stipulates what information is required. It does not say how this information should be presented.
By specifying the form and content of the returns, comparison between different parties will be made much easier and further improve the transparency of party finances.
The Commission is consulting on various proposals that include: introducing a specified format for accounts, whether accounts should show the total value of donations and whether accounts should show campaign expenditure at each election.
The consultation is being sent to every registered political party and accounting unit in the UK.
The deadline for responses to the consultation is 3 October 2008.
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For further information contact
The Electoral Commission press office on 0207 271 0704.
Out of office hours 07789 920414
Email press@electoralcommission.org.uk
Notes to editors
- The Electoral Commission is an independent body set up by the UK Parliament. Our aim is integrity and public confidence in the UK’s democratic process. We regulate party and election finance and set standards for well-run elections.
- The consultation document is available here.
- The Political Parties Elections and Referendums Act 2000 requires that parties with a gross income and expenditure of £250,000 or less (and their accounting units with a gross income or expenditure in excess of £25,000 and below £250,000) submit an annual statement of accounts to The Electoral Commission by 30 April and for more than that sum by 7 July.
- Under section 42 of the Political Parties, Elections and Referendums Act (2000) the Electoral Commission has the power to specify the form and content of the accounts that are submitted to it by political parties.
- Section 53 of the Electoral Administration Act 2006 sets out the current accounting requirements.
- Accounting units are sections of the party whose finances are not managed directly by the party’s headquarters. Like parties’ headquarters, accounting units are required to maintain accurate accounts.
