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Do incumbents in the U.K. have the franking privilege whereby they have free postage for anything they want to mail to their constituents? Members of Congress have this power (but I don’t think the President does), so incumbents could easily outspend any limit imposed by law.
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At a local level, I am allowed something in the region of 50 1st class and 100 2nd class stamps for use in my work (cannot be used for electioneering, paid for by the public purse). During the election period all expense incurred contacting the electorate must be within the spending limit, including postage. Anything that has the party ID on it, or any statements designed to promote myself electorally must be included. If a supporter lets me use their office space ( I cannot use my townhall office) I must include a calculation of how much that office space would theoretically have cost me were I to rent it. Any cost above £25 must carry a receipt and any donation above £50 must include full donator details.
The parliamentary levels are much bigger, but MPs operate within tight spending limits on postage and communications as well. Throughout their MPs are allowed to spend a certain amount, claimable as an expense from the public purse, on communications as long as they are not overtly campaign orientated: news letters and the like. During the election period, similar rules apply as to local campaigns though I am unsure of the amount allowed.
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What risks can there be in debating an important public issue with a civil tongue and mutual respect between political opponents?
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There are no risks in debating in such a manner. However, you are dealing with a political system and tools designed to promote calm can just as easily be abused as respected.