Last year’s parliamentary elections left a significant dent in the People’s Party’s finances. The party spent a total of 70 million ISK during the election cycle — a sharp turnaround from the previous year, when it posted a profit of over 39 million ISK. When all was tallied, the party recorded a loss of nearly 39 million ISK.
The figures come from the party’s annual accounts, now published on the National Audit Office’s website. It’s the first full national-level financial report the party has been required to file, triggered by its below-par showing in the last election.
Revenue held steady at 79 million ISK — roughly in line with the year before — but expenditure told a very different story, jumping from 44 million ISK to 126 million ISK. The bulk of that increase is tied directly to the cost of running the parliamentary election campaign.
Like most Icelandic parties, the People’s Party depends heavily on public funding. Almost all of its income comes from the treasury, Alþingi, and local authorities — payments that are calculated based on electoral results. Membership fees added just 417,000 ISK to the total, which gives a clear picture of how dependent the party is on state support.
