Political parties spent $418 million in the 12 months up to the 2022 federal election, according to Australia Electorial Commission numbers.
Clive Palmer’s United Australia Party with $123 million was the second biggest spender, behind the Coalition's $132 million in but ahead of Labor’s $116 million.
Independents spent about $21 million.
The Grattan Institute analysis shows where the money came from:
The Grattan Institute's Kate Griffiths, deputy program director, and Iris Chan, fellow, write that the 2022 election is the first federal election since 2010 where the party with the biggest wallet didn’t win.
"Money matters in Australian elections because it helps spread political messages far and wide," they say.
"But political parties remain highly dependent on a small number of powerful individuals, businesses, and unions, to fund their campaigns.
"In the shadowy world of donations and lobbying, this dependence creates enormous risks of private influence over public decision-making."
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