Cabinet nod to jack up Presidential and other election deposits

The Cabinet of Ministers approved increasing the deposits required for candidates vying for the Presidential polls.

“The move aims to adjust the financial requirements in alignment with the contemporary socio-economic and political landscape,” Cabinet Co-Spokesman and Minister Bandula Gunawardena said at the post-Cabinet meeting media briefing yesterday.

According to the approved amendment, candidates affiliated with recognised political parties will now be required to deposit Rs. 2.6 million, while independent candidates must deposit Rs. 3.1 million. 

The decision, rooted in the Presidential Elections Act No. 15 of 1981, reflects the Government’s acknowledgment of the need for periodic updates to electoral regulations to ensure relevance and fairness in the electoral process.

In addition, the decision includes adjustments to security deposits for candidates participating in General Elections, as well as Local Government and Provincial Council elections. 

For general elections, the security deposit for candidates affiliated with recognised political parties has been set at Rs. 11,000, while independent group candidates must deposit Rs. 16,000.

Similarly, in the context of local government and provincial council elections, the security deposit requirements have been revised. 

“Candidates representing recognised political parties will now need to deposit Rs. 6,000, whilst candidates from independent groups are required to deposit Rs. 11, 000,” he said.

Furthermore, the amendment extends to other electoral arenas, including the Parliamentary Elections Act No. 1 of 1981 and the Provincial Councils Elections Act No. 2 of 1988. 

Accordingly, candidates contesting under recognised political parties in Parliamentary and provincial council elections will also see an increase in deposit requirements.

“The proposal to this effect submitted by Justice Minister Wijeyadasa Rajapakshe, emphasised the importance of aligning electoral regulations with the evolving dynamics of society,” Gunawardena justified. 

The decision to elevate deposit thresholds has sparked debates among political circles, with some expressing concerns about potential barriers to entry for candidates, particularly those from less affluent backgrounds. 

On the other hand, proponents argue that the measure could help deter frivolous candidacies and promote more serious contenders, ultimately enhancing the quality of political discourse and representation.