An attempt to halve the limit on candidates' expenses to $250,000 per seat in the geographical polls in May was rejected.
The amendment to the election rules, tabled by Bruce Liu Sing-lee of the Association for Democracy and People's Livelihood, was voted down 24-12.
Mr Liu's amendment also sought to lower the limit for functional and election committee elections.
He warned that the election would become a privilege of the rich under the proposed $500,000 limit.
A five-seat constituency, like New Territories East, will have an expenditure ceiling of $2.5 million.
Noting that the Government only managed to get 70 per cent of eligible voters to register, Mr Liu said the expenses limit should be cut accordingly.
He was supported by independent Andrew Wong Wang-fat and the Democratic Alliance for the Betterment of Hong Kong. Mr Wong said the limits for the 1995 polls should form the base of this year's limits before a comprehensive review was conducted.
