SNP deficit exceeds £800,000 amidst decline in memberships and donations.

author: FutureCar Staff    

The SNP has revealed that it incurred a deficit of over £800,000 last year, primarily due to a decline in party membership and donations. This deficit is the second-largest ever recorded by the party and the largest in a non-election year. The party's accounts, published by the Electoral Commission, also indicate negative reserves of £219,629 at the end of 2022.

Over the course of 18 months, SNP membership fell by almost 30%, dropping from 103,884 at the end of 2021 to 73,936 in June. Membership income also decreased from £2,516,854 in 2021 to £2,286,944 in 2022, while reportable donations fell from £695,351 to £368,538. In total, the party recorded losses of £732,072 in 2021 and £804,278 in 2022.

The party still had an outstanding loan of £60,000 from its "executive management" in 2022, with former chief executive Peter Murrell having previously loaned £107,620 to the party in June 2021. Stuart McDonald MP, the party's treasurer, cited the rising cost of living and public concerns about the economy and job security as reasons for reduced or canceled membership payments. He acknowledged that the SNP is currently facing challenges and uncertainty.

According to the Electoral Commission, the SNP's deficit was smaller than that of the Conservatives, who recorded a deficit of £2.3 million. The Scottish Conservatives do not publish their accounts. Scottish Labour had a deficit of £123,787, while the Scottish Liberal Democrats had a surplus of £291,287. The Scottish Greens had a deficit of £28,191, while Alba recorded a surplus of £17,425.

The SNP faced a time constraint to file its accounts before the Electoral Commission's deadline after appointing new auditors in May. AMS Accountants Group took over the role after Johnston Carmichael resigned in September 2022. Additionally, a Police Scotland investigation into the SNP's funding and finances is ongoing, with former first minister Nicola Sturgeon, her husband Peter Murrell, and former party treasurer Colin Beattie having been arrested and released without charge as part of Operation Branchform.

The party recently announced Murray Foote, its former spin doctor, as the new chief executive. Foote had previously stepped down as head of communications due to a controversy regarding membership numbers. He expressed his delight at taking on the role and stated his commitment to building the campaign for independence. The SNP spokesperson acknowledged the challenges faced by all political parties in 2022 but emphasized the party's determination to balance its accounts in preparation for the Westminster election in 2024.

FutureCar Staff