The Conservative party raised a record amount in 2024 — and spent even more

The federal Conservatives raised a record amount of money in 2024 and ramped up their spending in a major way ahead of the federal election, according to records filed with Elections Canada.

The Tories brought in $42 million in donations and another $5 million in membership fees last year.

They also spent just shy of $50 million, with a large chunk of that going to advertising, research and polling.

By late December, the Conservatives appeared poised to form the next government as their sustained attacks on then-prime minister Justin Trudeau, then-NDP leader Jagmeet Singh and the federal carbon price seemed to resonate with many Canadians.

Conservative strategist Fred DeLorey says that while he's not concerned by the amount the party spent, he hopes the party is taking a hard look at how it spent that money.

The Conservatives are the only party to file an annual financial statements with Elections Canada so far; all the other parties filed for an extension.

Picture Courtesy: THE CANADIAN PRESS/Gino Donato