What does it mean to lose your deposit in the General Election?

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THE first three results of election night saw Liberal Democrat candidates lose their deposits – but what does that mean?

Every candidate standing in the General Election must pay a deposit of £500, which is forfeited if they fail to gain five per cent of the vote in the constituency in which they are standing.

The deposits are designed to put off candidates who are not serious about running in the election from standing.

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