The Labour Party experienced a decline in membership over the past year, even as it achieved remarkable financial success, according to the recently published annual accounts by the Electoral Commission.

As of the end of 2022, Labour’s membership stood at 407,445, indicating a drop of nearly 25,000 members compared to the previous year.

This decline is notably below the peak membership recorded in 2019, when the party boasted 532,046 members.

Despite the membership setback, the party managed to attain significant financial gains, reaching some of its highest income levels outside of an election year.

Impressively, Labour raised £47.2 million in funds and achieved a surplus of £2.7 million.

This turnaround follows a loss of £5.2 million in 2021.

Party treasurer David Evans attributed this financial improvement to “difficult decisions” that led to cost reductions.

He also highlighted that membership income exceeded expectations due to the addition of new members and an enhanced retention rate.

Conservatives Face Financial Loss Amidst Turbulent Year

Conversely, the Conservative Party encountered a financial loss of £2.3 million, characterizing the year as “turbulent.”

Donations decreased by £2.4 million compared to the previous year, with party officials attributing this reduction in part to the delay of “donor pledges moving into 2023.”

While the party does not publicly disclose its total membership count, income from membership fees experienced a slight decrease, falling from £1.99 million to £1.97 million.

Approximately 170,000 individuals were eligible to participate in the summer leadership election in the preceding year.

Liberal Democrats Face Deficit and Modest Membership Increase

In 2022, the Liberal Democrats reported a deficit of £753,789, which encompassed a loss of £185,839 arising from the cancellation of the party’s annual conference following the passing of Elizabeth II.

Nevertheless, the party observed a slight rise in membership, growing from 94,706 to 97,493.

SNP’s Financial Deficit and Decline in Membership

The SNP (Scottish National Party) registered a deficit of £804,000 in 2022, a result that the party asserted was consistent with other years when nationwide elections took place.

Additionally, the party witnessed a substantial decline in membership since the conclusion of 2021. Membership figures decreased from 103,884 to 82,598 by the end of 2022.

Furthermore, the subsequent months saw a further reduction, reaching 73,936 by the conclusion of June 2023.