Donors Keeping their Wallets Closed after Spring Election

New fundraising data paints a revealing snapshot of the current political and financial mood across Canada’s federal parties:

• Conservatives (CPC):
  • Raised $4.2 million (Q3 2025) — still the top fundraiser, but that’s down sharply from both the $28 million they brought in during the first quarter (Q1 2025) and about half of what they raised in Q3 2024.
  • This steep drop suggests donor fatigue after a massive early-year push, possibly reflecting that many core supporters already gave heavily ahead of a potential election call.
• Liberals (LPC):
  • Raised $2.9 million (Q3 2025) — a smaller decline compared to the Conservatives, but still lower than the $3.3 million raised in Q3 2024.
  • The Liberals’ earlier quarters were stronger: $13 million in Q1 2025, buoyed by their leadership race, and $7.6 million in Q2 2025. The third-quarter slowdown indicates the same summer lull affecting all parties, but it also shows their base hasn’t fully re-engaged despite political uncertainty around the fall budget.
• Bloc Québécois:
  • Raised about $100,000 from under 1,000 donors, a sharp drop from $356,000 in Q3 2024 — suggesting waning grassroots momentum or donor fatigue within the party.

Broader Implications

• The “summer slump” is typical, but the magnitude of the declines — particularly for the Conservatives could reflect exhausted donor bases after intense early-year fundraising efforts tied to election speculation.
• The Liberals’ financial position, while weaker than the Conservatives’, might still give them breathing room if they face a confidence vote on the fall budget.
• With the Liberal minority government lacking enough support to pass its budget as of now, this funding landscape could shape the timing and tone of a potential snap election.