Labor will lose nearly 100,000 members in 2021 and end the year with a budget deficit of £5m, according to the party's newly released report. the book shows.
A massive exodus of supporters has reduced party membership from 523,332 at the end of 2020 to 432,213 at the end of 2021. Redundant packages of staff to reduce costs have contributed to the financial black hole.
His labor income from dues fell from £19.3 million in 2020 to £16.2 million in 2021, his £3.1 decrease in income was £5.2 million accounted for most of the deficit.
The size of the party's losses has increased significantly compared to his 2020, when the party posted its £1m deficit. In 2019, the party balanced its books, leaving a small surplus of £17,000.
"This has resulted in difficult discussions and decisions. Thank you for your commitment and dedication during this process.
16} “Actions taken by the party to control costs include remaining on the electoral footing for years before returning to the more traditional midterm election cycle model.One-off costs contributed to the deficit, and we had to allocate cash reserves to secure funds.”
Workers made significant layoffs last year to cut costs. rice field. The party reported 424 staff employed in December 2020, but that number had fallen to 331 by the end of 2021.
Last year's sharp decline in party membership coincided with growing displeasure withKiel Sturmer, theparty's left-wing leader.
The fears have escalated in recent months after the party leader explicitly denied his 10 policy "pledges" he made in his 2019 leadership election. Topics include public property rights, EU policy, and support for workers' industrial action.
Sir Keel's approach angered some trade unions. In February, Sharon Graham, leader of the Labor Party's largest donor, Unite, said that "remaining funding for the Labor Party is currently under review."
However, Labor has consistently outperformed the Tories in polls since last year, and the government has been downplayed by a series of despicable scandals and a lack of action on the cost of living crisis.
We have reached out to the parties for further comment.
The Conservative Party's results, also released today, achieved a surplus of £319,000 in 2021.
Tories do not post member numbers on accounts, but income from Conservative dues remains. Her £1,999,000 in 2020 is largely stable at £1,989,000 in 2021.
When the results of party leadership elections are announced, the number of active Tory members can be revealed and the number of votes cast can be compared. At the 2019 Leadership Contest.
