Electoral Commission figures show Conservative party income dropped hugely in 2016

 
Catherine Neilan
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Less money, mo problems (Source: Getty)

Labour's income was almost double that of the Conservatives last year, new figures have revealed.

In the year that included the EU referendum, David Cameron's resignation and Theresa May's rise to power, the Tories' income has dropped from £41.9m to just £28.3m.

In fact, that's the lowest income the party has reported since 2013, Electoral Commission figures show.

Meanwhile under Jeremy Corbyn, the Labour party's income also fell, although by a much smaller margin, from £51.2m to £49.8m.

Although the number of parties reporting income or spend of more than £250,000 has gone up - 12 in 2016 compared with 10 the year before - the total income dropped by around £17.1m, while expenditure decreased by just under £21.4m.

Here's the full breakdown of the incomes for 2016:

Party

Income

Expenditure

Labour Party

£49,840,000

£43,324,000

Conservative and Unionist Party

£28,303,000

£27,756,000

Liberal Democrats

£8,524,031

£7,721,722

Scottish National Party (SNP)

£4,873,386

£6,174,393

UK Independence Party (UKIP)

£3,357,726

£2,992,297

Green Party

£2,165,032

£2,086,592

Women's Equality Party

£1,127,228

£1,288,415

Co-operative Party

£1,062,178

£986,218

Plaid Cymru - The Party of Wales

£739,323

£817,667

Scottish Green Party

£448,142

£629,626

British National Party

£416,533

£383,300

The Socialist Party of Great Britain

£399,225

£94,007

Both the BNP and Socialist Party of Great Britain missed the deadline for submitting their audited accounts, with the latter also failing to include an auditor's report.

And the south east regional branch of Ukip also failed to provide an accompanying auditor report with their submission.

Bob Posner, director of political finance and regulation and legal counsel, said: “The availability of these accounts are important for the transparency of political finance outside of election campaigns. People should be able to see how parties raise and spend money and be assured that their accounting is accurate and assessed by an independent auditor.

“It is disappointing that some parties have failed to comply with the requirements clearly set out in law and in our guidance. We will consider each of the failures in line with our enforcement police and may impose sanctions.”

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