Political finance covers all funds that are raised and spent for political purposes. Such purposes include all political contests for voting by citizens, especially the
election campaigns for various public offices that are run by parties and candidates. Moreover all modern democracies operate a variety of permanent party organizations, e.g. the
Democratic National Committee and the
Republican National Committee in the U.S. or the
Conservative Central Office and the Labour headquarters ("
John Smith House", "
Millbank Tower") in the U.K. The annual budgets of such organizations will have to be considered as costs of political competition as well. In Europe the allied term "party finance" is frequently used. It refers only to funds that are raised and spent in order to influence the outcome of some sort of party competition. Whether to include other political purposes, e.g. public relation campaigns by
lobby groups, is still an unresolved issue. Even a limited range of political purposes (campaign and party activity) indicates that the term "
campaign funds" (used as subject heading in
Library of Congress cataloguing) is too narrow to cover all funds that are deployed in the political process.