It is the return of the “patriotic loan”, also called “great national loan”. In April 2019, the National Rally launched a campaign to borrow money from individuals to finance its European election campaign. Bis repetita: the party to the flame is preparing to launch “a revival campaign”, according to the expression of an influential deputy. “In the coming weeks,” confirms another party executive. Potentially early October.
The Lepenist party obtained an unprecedented number of votes in the legislative elections and brought in 89 elected members of the National Assembly, a promise of substantial public funding (from 5 to 10 million euros annually). But he will still have to stick his tongue out for a few months. “We never see the end of it…” breathes the same deputy, while his party has been crumbling under debt for years. Until now, the public money due to the RN was paid in February. But for several reasons, the new allocation calculated on the basis of the 2022 legislative elections will not be paid before May 2023, at the earliest.
Pending this payment, at the Paris headquarters of the RN, Porte de Saint-Cloud, we have identified a hole to the tune of 3 million euros. Hence the return of the “big loan” to make ends meet. With an interest rate set at 5%, individuals can lend for one, two or three years, the sum of their choice, with a minimum of 500 euros. Currently, the party lists some 1,500 “lenders”.
23 million in debt
Beyond this emergency, the RN will have to settle a debate on the management of its finances. It is still in debt to the tune of approximately 23 million euros: it is possible to completely clear this debt over five years, provided that the belt is tightened on expenditure; or else to take advantage of this new financial power to increase the party’s power… but while retaining a good part of the financial burden.
The temptation to increase the lifestyle of a party that claims to have been living “on the bone for years” is strong. The debate will be arbitrated by the next president of the party, Jordan Bardella or Louis Aliot, whose name will be known during the congress on November 5th.