Asset Balance Revealed: These Parties Sit on a Huge Mountain of Debt
The parties published their asset balance for the first time on January 1. The key date is December 31, 2023 - before the start of the super election year 2024. Interestingly, while ÖVP and SPÖ already went into the election year in debt, the other parliamentary parties reported bank balances in the millions. Financially particularly well-equipped was the FPÖ, which according to its accountability report had 8.1 million euros in reserve at the end of 2023.
Parties Present Asset Balance for the First Time
The new transparency rules for parties came into effect in 2022 and are now being applied for the first time to the accountability reports for the year 2023. Until now, parties only had to report how much money they earn and spend each year. Now, for the first time, assets and liabilities (i.e., assets and debts) must also be reported, as well as which banks the loans are with.
FPÖ, Greens and NEOS with Million Credit Balance
FPÖ, Greens and NEOS are well prepared for the election year. All three parties report credit balances in the millions, no bank debts and comparatively low other liabilities. The FPÖ has a positive "net wealth" of 8.2 million euros in the balance sheet, of which 8.1 million euros are bank credit. The last loan repayments were reported by the FPÖ for 2022 (1.1 million euros).
The Greens report assets of three million euros. Here, bank credit of 3.1 million euros is offset by only minor provisions and liabilities of 184,000 euros. The situation with the NEOS is somewhat more complex, as in addition to bank credit of 2.1 million euros, several million euros in current assets as well as receivables and liabilities within the party organisation are also included in the balance sheet. However, the bottom line is that the NEOS also have a positive net wealth of three million euros.
ÖVP and SPÖ Heavily Indebted
The situation is different for the ÖVP and SPÖ. Both parties have already started the election year 2024 with debts. Despite years of debt reduction, the ÖVP still reports loans amounting to 3.3 million euros from Raiffeisen Bank International (RBI) and almost two million euros in other liabilities. On the credit side, the ÖVP only lists assets of just under one million euros. In total, the ÖVP thus has a "negative net worth" (i.e., debts) of 5.65 million euros.
The SPÖ claims to have reduced its bank debts from six to four million euros in 2023. In addition, the SPÖ (like the ÖVP) has high provisions, among other things for severance payments. Deducting bank balances and intra-party receivables, the SPÖ thus has total debts of 3.0 million euros. In 2023, the SPÖ paid a good 295,000 euros in interest for this, while the ÖVP reports interest payments of 282,000 euros. The report does not reveal which institutions the federal SPÖ's loans are with. However, the Viennese SPÖ reports two loans of 1.2 million euros each from the party-affiliated Association of Viennese Workers' Homes.
Audit Office Checks Submitted Documents
Given the high election campaign expenses, it is unlikely that the parties' financial situation has significantly improved in 2024. More precise details will only be revealed with the publication of the next accountability reports in a year's time. Until then, the Audit Office must check the documents submitted by the parties for 2023. Because for the first time, unverified reports were published. The smaller parties have also submitted their balance sheets - with the exception of the KPÖ, which according to the Audit Office wants to catch up in January.
(APA/Red)
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