The Liberals will be announcing the creation of a $750,000 trust fund to cover any ill-gotten sponsorship money the party may have received, CTV News has learned.

Robert Fife, CTV's Ottawa bureau chief, told Newsnet the money won't be disbursed until Justice John Gomery completes his report, expected some time in December.

"But they want to put this money in a trust fund to ensure they will pay back any money that may have gone into the Liberal Party's coffers from the sponsorship scandal."

Fife noted the opposition parties had passed a resolution calling for such an action, but the Liberals ignored it.

Asked how the party arrived at the figure, Fife said that might be the amount of money that made it into the Liberal Party.

"I'm assuming their lawyers have gone through the receipts and records ... but it could be less," he said.

Steven MacKinnon, the Liberals' national director, confirmed the story to Newsnet.

Asked if the $750,000 was enough, he said, "Well, three-quarters of a million dollars is an awful lot of money."

After consulting with party representatives monitoring the inquiry, "we think this is a very generous set-aside by the Liberal Party of Canada," he said. 

The issue of a trust fund came up again during Wednesday's question period in Parliament.

"The only way Canadians can be sure that the Liberals are not campaigning with dirty money is to put the Elections Canada subsidy in trust," said Conservative MP Rahim Jaffer.

"Or maybe, Mr. Speaker, it is their intention to buy another election campaign using that dirty money."

The Gomery commission has heard testimony of undeclared cash payments to the Liberal election campaign in Quebec.

"Once again the prime minister has always been clear on this, and the party has been clear on this, that if funds were received inappropriately, they will be returned to the Canadian taxpayer and we will do that when the Canadians have in fact all of the facts," Public Works Minister Scott Brison said in response to Jaffer.