Rae wins this leadership race
Next week's deadline is fast approaching for former Liberal leadership candidates to notify Elections Canada whether they need an extension to pay off campaign loans.
Bob Rae reportedly closed down his books today, loans all paid, with a surplus of $17.52.
Michael Ignatieff needs more time. He sent out a letter today to Liberals, saying:
"My debt started at about $800,000. On June 3, when Elections Canada requires all of the leadership candidates to file returns, I will be reporting the significant progress that I have made with your help. I don't quite know where I'll be on that day - some contributions are still in the pipeline or are being processed by the party - but I will not be fully paid off by the deadline. I am within striking distance and expect to pay off the debt completely by the end of the summer."
We'll probably have a better idea of all the outstanding debts early next week. Rae and Carolyn Bennett are the only two who won't be asking for more time.