Strict Spending Limits Set for 2024 Presidential Candidate

News Today: Campaign spending regulations for Sri Lanka’s 2024 election unveile

An extraordinary gazette has been issued, establishing strict regulations on campaign spending for candidates in the upcoming Presidential Election of 2024. This move aims to promote fairness and transparency in the election process. According to the gazette, each candidate is authorized to spend a maximum of Rs.109.00 per elector for election propaganda activities. This stipulation equates to a total campaign expenditure limit of Rs 1,868,298,586.00, calculated based on the number of eligible electors.

The new regulations specify that 60% of the total expenditure can be spent directly by the presidential candidate, while the remaining 40% is allocated to the candidate’s political party or group. This division ensures that both the individual campaigns and the supporting political entities have a defined budget to work with, promoting accountability.

The extraordinary gazette was released under Section 03 of the Regulation of Election Expenditure Act, No. 03 of 2023. It further mandates that all presidential candidates must submit detailed reports of their election expenditures to the Election Commission within 21 days following the announcement of the election results. Failure to comply with these regulations may result in legal consequences, further emphasizing the importance of adhering to the prescribed limits.

These measures are part of broader efforts to curb excessive spending in political campaigns and ensure a level playing field for all candidates. The new spending cap and reporting requirements are expected to bring greater transparency and fairness to the election process, aligning with the democratic values of Sri Lanka.