NO billionaires or millionaires, said Syed Saddiq Syed Abdul Rahman, putting to rest speculation on who will fund his new youth-focused party.

The former youth and sports minister was responding to rumours on social media that a corporate figure will bankroll the political outfit, which has yet to be registered.

“We need to start looking at genuine political reforms that weed out the influence of money politics,” he told The Malaysian Insight.

He envisions the party as a grassroots movement that belongs to the people, not one that fights for the elite.

“Once you structure a party in a very disruptive way, it will be tougher. We won’t have as much money as the other parties.”

However, he said, people should have faith in the idealism, enthusiasm and beliefs of those who work without expecting financial rewards.

“And these people who have been coming to help out, they don’t expect a single sen. They come up with their own money to support the movement.

“There are many ways we can do this. It’s time for us to disrupt the process so that we are no longer beholden to the political and corporate elite.”

Once the party has the numbers and is able to form the government, he said, it can ensure policies that genuinely take into account working-class Malaysians’ interests.

He said members approached for funds have been able to contribute as they are independent and successful in their own way.

Donations to the party are welcome, but they will be capped.

“You can donate, but you definitely can’t give RM10 million as there’s a cap. It could be RM20,000 or RM50,000… it will be up to the party leaders to decide later,” said the 27-year-old Muar MP, adding that this is to ensure there are “no strings attached” to donors.

Crowdfunding, tech disruption

The party is looking at crowdfunding and tech disruption, such as blockchain and online platforms, to raise funds.

This is possible as talented technocrats, who have successful start-ups and brilliant ideas, are on board, said Syed Saddiq.

He said there are various fundraising methods that can be used, citing as examples former US president Barack Obama’s crowdfunded campaign for the 2008 election and Vermont Senator Bernie Sanders before he dropped out of the White House race earlier this year.

“We haven’t looked into an auto-debit system. For example, each member needs to pay RM2 a month, which is auto-debited, and that amounts to RM24 per year, per person.

“Imagine if there are 100,000 members. That’s a decent amount for parties to run their headquarters and administration.”

The new party will study ways to reduce operating costs, too, he said.

He also spoke about changes that can be made to how ceramah are held.

“For example, literally anyone can invite me to speak. You organise a programme at your house, just have coffee, invite 30 people… those in your kampung.

“I’ll come for a two-hour slot, and after that, I’ll move on to a different kampung.”

This can be done in collaboration with civil society groups to ensure the people’s voice is heard and represented, he said. – September 3, 2020.