The accounts of political parties with an annual income or expenditure of above £250,000 for the financial year ending 31 December 2022 have been published by the Electoral Commission.

The results show that the SNP and Conservative show a fall in income, while the Liberal Democrats and Labour are in a much stronger position. Figures show that the Liberal Democrats attracted £1 million more in donations than it did the previous year, a sign of success and donor confidence. What is crucially important is that the party has been able to bring in a significant rise in donations at an earlier stage in the electoral cycle, allowing crucial investment in the seats we hope to win at the next General Election.

From the Guardian:

For the Lib Dems, whose profile has been raised by a series of byelection wins, total income increased only marginally, but within this, money from donations rose from £1.9m to £2.9m.

One of the things that adversely affected our income last year was having to cancel our first planned in person Conference due to the period of national mourning when the Queen died.

For the SNP and the Conservatives, things are less healthy:

In contrast, the SNP’s donation income halved from just under £700,000 in 2021 to about £350,000 last year. The party is heavily reliant on membership income, which dropped slightly but still brought in more than £2.2m of the £4.2m total.

The Conservatives’ accounts show the party spent over £2m more than it earned during 2022, with total spending of just over £33m. During the same period, donations, which are traditionally the Tories’ major source of income, fell by slightly more than this deficit, from £20.5m to £18.1m.

You can see all the parties’ accounts on the Electoral Commission website with ours here and the full documents and financial reports filed by the party here.

In their report, the party’s officers say:

We ended the financial year in an even stronger position than we stared. We hit our budget targets showing that we can manage our finances well, even in a period of great uncertainty.

Our internal operational performance continues to improve. And we have modernised many of our underlying technology systems, giving us greater capability to respond to voters’ hopes and aspirations. Despite the cost of living challenges facing every organisation with a high proportion of payroll spend, our staff satisfaction has increased to record levels.

We go into 2023 confident of sustained success in local elections in May and with eyes firmly on a General Election in 2024.

* Caron Lindsay is Editor of Liberal Democrat Voice and blogs at Caron's Musings