The political resurrection of Kevin Rudd has been a boon to the coffers of both major parties with corporate, union and individual donors reassessing an election that only weeks ago looked like a certain Coalition landslide.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
As Prime Minister Rudd travels to Melbourne on Tuesday for events including a sold-out, $10,000-a-head ''boardroom'' fund-raising dinner, senior officials from both major parties confirmed the lift in Labor's polling under him had boosted financial support for the forthcoming election.
''There has been a significant increase in small online contributions in particular,'' ALP federal secretary George Wright said. ''What is becoming clear is that many small donations can make a big difference.''
One senior Victorian Labor MP said generating money had become difficult under Julia Gillard. ''Fund-raising had been the saddest of soggy sandwich affairs recently. But that will now change.''
Insiders from both parties acknowledge that some Coalition-supporting companies had moved to ''hedge their bets'' by also donating to Labor under Kevin Rudd.
''There is certainly renewed interest in … the party as a whole,'' said Christina Smith, executive director of Victorian Labor's fund-raising arm, Progressive Business. It has added events to its calendar since Mr Rudd's return.
The Liberal Party has worked hard to build a substantial war chest since the 2010 poll, seeking to take advantage of business frustration with the Gillard government. One senior party insider has forecast an election outlay of up to $35 million in 2013.
Nonetheless, Liberal party federal president Alan Stockdale said some corporates had become complacent about an easy Coalition win over Ms Gillard, and reluctant to donate.
''I had people say to me, 'I would normally give you x, but we'll only give you half x because you're clearly going to win'.''
Among the Liberal fund-raising events planned is a campaign launch dinner at Crown Palladium on August 1 with a target of $1 million, believed to be a record for a single political event in Australia.
Gold tables around party leader Tony Abbott have sold for as much as $50,000.
Labor expects to be easily outspent by the Liberals, although it has the incumbent's advantage of government-paid advertising, as seen in recent days with the promotion of its new hard line on asylum seekers.
