Donations for Social Democrats Quintuple in One Year Skip to content

Donations for Social Democrats Quintuple in One Year

The Social Democrats received ISK 45 million (USD 349,000, EUR 262,000) in donations in 2006, five times the amount received by the party in 2005. In 2006, 15 companies sponsored the party with donations over ISK 500,000 (USD 3,900, EUR 2,900), reports.

Chairwoman of the Social Democrats Jóhanna Sigurdardóttir. Photo by Geir Ólafsson.

According to an overview released by the Social Democrats to the media on April 10, no company supported the party with a higher contribution than ISK 5 million (USD 39,000, EUR 29,000), which was provided by Kaupthing Bank, reports.

The Social Democrats also received a grant from Landsbanki worth ISK 4 million (USD 31,000, EUR 23,000) and FL Group worth 3 million (USD 23,000, EUR 17,000)

After the story on donations received by the Independence Party in 2006 broke, other political parties were urged to reveal who had supported them and by how much before new laws on funding for political parties took effect on January 1, 2007.

In 2006, the Progressive Party received ISK 30.3 million (USD 235,000, EUR 177,000) in donations from companies, compared to ISK 45 million received by the Social Democrats and ISK 80 million (USD 620,000, EUR 466,000) by the Independence Party, out of which ISK 55 million (USD 426,000, EUR 321,00) alone was donated by Landsbanki and FL Group.

According to an overview of donations to the Progressive Party published on, the highest donation which the party accepted was ISK 5 million from construction company Eykt, followed by ISK 4 million from Kaupthing Bank.

The Progressive Party also received a grant from Landsbanki worth ISK 2 million (USD 15,000, EUR 12,000) but nothing from FL Group.

A statement published on the website of the Left-Greens on April 10 reads that the party followed its own regulations on revealing all donations over ISK 500,000 in its annual statements between 2003 and 2007.

That occurred on one occasion, in 2006, when the Left-Greens received an ISK 1 million (USD 7,700, EUR 5,800) grant from Samvinnutryggingar insurance company.

Click here to read more about the controversy surrounding grants accepted by the Independence Party in 2006.

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