Votes net Clive Palmer's party $2.2 million in election funding from AEC

Updated

Billionaire mining magnate Clive Palmer's political party will receive $2.2 million in election funding.

Candidates who obtain at least 4 per cent of the formal first preference vote are given funding by the Australian Electoral Commission (AEC).

At last month's federal election, each first preference vote was worth around $2.48, with a first payout totalling $56,367,240.38.

The Palmer United Party's election performance has netted the party $2,202,044.07.

It won three Senate spots at the election, and Mr Palmer could also pick up the Lower House seat of Fairfax.

The result in the Queensland electorate is currently being recounted after just seven votes separated Mr Palmer and his Liberal National Party rival Ted O'Brien.

Overall, the Liberal Party will receive $23.1 million, Labor around $20 million, the Greens $5.3 million and the Nationals $3 million.

The Nick Xenophon Group, which only ran candidates in South Australia, will receive just over $600,000.

Katter's Australian Party will receive $166,711, Family First will get $103,724, the Bullet Train for Australia Party will take home $24,283 and the Christian Democratic Party will receive $8,654.

The AEC says it will authorise a second payment once the election results are finalised.

Topics: federal-elections, elections, government-and-politics, electoral-system, coolum-beach-4573, qld, australia

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