The Independent Democrats (ID) are calling for a parliamentary debate over irregular transactions concerning the ruling party's funding vehicle, Chancellor house, said the ID chief whip on Sunday.

"The ID is extremely concerned over the latest allegations concerning irregular transactions on the part of the ANC's funding vehicle, Chancellor House," said ID chief whip Lance Greyling in a statement.

"The ANC is dragging its feet on the issue, said Greyling. "The ANC has continuously dragged its feet when it comes to formulating proper party funding regulations. In the court case brought by IDASA a number of years ago, the ANC argued that the issue of regulating party funding would be best dealt with through Parliament and not the courts," said Greyling.

In response to a parliamentary question by ID President Patricia de Lille last year, President Mbeki stated that political parties in Parliament should debate the issue and formulate legislation for the Executive to consider, said Greyling.

"The Independent Democrats responded to this by tabling a motion last year, calling for the establishment of an ad-hoc multi-party committee to debate party political funding and formulate recommendations.

"This motion later lapsed due to the fact that no time could be found on the parliamentary programme to debate party political funding.

The ID once again submitted this motion on the second day of Parliament this year and has subsequently been informed that there will be no time to debate any motion until the end of June," said Greyling.

He said that It was crystal clear that the ANC was not serious about regulating political party funding and nor do they appear to see the issue as being important enough to warrant a debate in Parliament.

"The ID therefore reiterates our call once again for the ANC and all political parties in Parliament to give this issue the attention it deserves, so as to halt the privatisation of our democracy," said Greyling.