Ric McIver pledges new fundraising plan for PC party

The interim Progressive Conservative leader is promising an update on the state of the beleaguered party's finances in the coming days.

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The governing New Democrats passed a law in June banning all corporate and union donations to political parties in Alberta.

The rules capsindividual donation at$15,000 a year.The PC partyrelied for decades on corporate donations to pay for its formidable election campaigns.

Ric McIver told CBCNews he's not worried about his party's ability to compete with the other parties in the province.

"Certainly, we have some work to do there," McIver says.

'I am optimistic'

But the leaders says his party plans to share how it will raise money for the next election soon.

"I can tell you I am optimistic. I feel good about and I think our party members that have been participating and being part of this, they're feeling pretty optimistic about the future," said McIver.

In June, McIver denounced the province's new funding rules for political parties, saying it gives the NDPan unfair advantage.

And on Thursday, the WildrosePartystole the PC stronghold of Calgary-Foothills in a byelection.The PCs dropped from than 40per cent of the votefor former premier Jim Prenticein May to 22 per cent in the vote on Thursday.

Political fundraising numbers in the second quarter of thisyear shows Alberta'sgoverning NDP took in the most money but just barely.The party slipped ahead of the Wildrose Party with help from union donations:

• NDP: $269,730
• Wildrose Party$269,356
• Progressive Conservative $259,636
• Liberal: $13,643
• Alberta Party: $5,300
• Green Party: $2,410