Tories rake in £6m more than Labour in political donations
2 min read
The Conservative party received almost £6m more in donations than the Labour party in the last three months of 2018, it has been revealed.
The Tories took £7.4m in large gifts in the last quarter of the year, compared to just £1.6m for Labour - a difference of £5.8m - new figures released by the Electoral Commission showed.
It marks the biggest difference in donations between the two parties outside an election period on record.
According to the election watchdogs, 13 political parties across the UK raked in more than £10.4m in donations between October and December last year.
The third biggest recipient of donations was the Liberal Democrats with almost £1m, followed by the Women’s Equality Party with £170,000.
Only sums of £7,500 or more to central parties or £1,500 or more to local parties or individuals are registered with the Electoral Commission.
It follows reports that Labour is on track to run a deficit for the first time since Jeremy Corbyn took over as leader.
The party moved into surplus in 2015 under a restructuring plan, clearing more than £25m of debts built up after Tony Blair's 2005 election victory.
But staff recruitment has reportedly now been frozen at the party’s HQ, and there have been plans for pay cuts and a pensions overhaul as the party tries to cope with the shortfall.
Louise Edwards, director of regulation at the Electoral Commission, said: “Publishing data about party donations and loans on our online database means voters can clearly see where political parties receive their funds from. This leads to a more trusted and transparent political finance system and helps ensure compliance.
“Where parties fail to deliver their return on time, and there is no reasonable explanation for such a failure, we will take a robust approach in dealing with this in line with our Enforcement Policy.”
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