The votes have been totted up, and now the Electoral Commission is doling out the dosh. The final public funding figures were announced by the AEC yesterday, with seven parties and 15 independent candidates divvying up $49,002,638.51 between them.

Public funding payments are calculated using an indexed sum per first preference vote. At the 2007 federal election, each first preference vote was worth 210.027 cents. In order to obtain election funding a candidate must obtain at least 4% of the first preference vote.

The ALP are the big winners. They are pocketing a hefty $22,030,460.82. The Liberals get $18,133,645.07, with the country cousins picking up an additional $3,239,706.37 and the Top End lot from the CLP $169,178.85. Vegan cobblers will enjoy a bonus once the Greens cash their cheque for $4,370,920.20 and Family First get $141,016.33.

Plenty of attention is being paid to the $213,095.49 for Pauline’s United Australia Party. Uncharitable souls have already suggested that serial candidate Hanson only runs nowadays for the money, but a number of independents have also done well.

South Australian Senator elect Nick Xenophon has topped the list. He will have plenty to put through the pokies after getting $312,497.07.

Successful independent Reps candidates Tony Windsor and Bob Katter receive $110,755.64 and $68,336.48 respectively.

Gavin Priestley, who gave the Nats a run for their money in what had been Peter Andren territory gets $39,978.64 and Labor rat Gavan O’Connor has $22,115.84for his cheese fund.

When public funding was introduced in the eighties official spin said it would encourage greater diversity, but like most measure in our electoral system it has given its biggest boost to the major parties.

Initially, public funding was given to reimburse campaign spending, but concerns over paperwork lead to the removal of the requirement to present accounts and the current formula was devised.