This article is more than 2 years old

This article is more than 2 years old

Labour has broken previous donation records and raised nearly £56m in a single year beating the Conservatives by nearly £10m, official figures show.

In contrast, Conservative membership subscriptions have slumped and are half the total raised from legacies of deceased supporters, according to data from the Electoral Commission.

The figures show a remarkable change in the financial positions of the two main parties since Jeremy Corbyn became leader in 2015.

Labour raised £55.8m in 2017, while the Tories managed to raise £45.9m, also their highest ever total, as both parties financed general election campaigns.

Legacies from dead Conservative donors were double subscription fees in 2017, with just under £1.7m paid in legacies versus £835,000 from memberships.

Labour received just over £16m from membership subscriptions, according to the data, an increase of £1.6m from the previous year.

The figures, released on Wednesday morning by the donations watchdog, found that 10 parties reported having gross income or total expenditure of more than £250,000 in 2017. In total, these parties reported £125,322,000 in income and £122,194,000 of expenditure.

Labour beat its previous highest amount of £51m, which was raised in 2015, also a general election year, but one that was fought under Ed Miliband. The Tories’ second-highest amount raised in a year came in 2010, when donors gave £43.1m.

Labour also received £18m in donations from its members, while Conservative donors gave £34m, the data showed.

Even Corbyn’s critics have been surprised by the way his popularity has turned around the party’s funding model. Under Tony Blair and Gordon Brown, Labour was reliant on a small number of wealthy donors.



The party is now reliant on smaller donations from ordinary members. Labour membership soared from 200,000 in 2015 to 552,000 in January, according to reports.

Labour’s finances have also been helped by public money known as “Short money” which is given to opposition parties. This amounted to £7.43m last year.



Spending by all political parties increased by 30% in 2017 compared with the year before, the figures showed. The snap general election saw parties spend nearly £28m more than in 2016.

The Guardian disclosed last month that in the nine months from July 2017, the party raised £7.4m from donors paying a minimum of £50,000 to dine with Theresa May.

A Labour spokesperson said: “Unlike the Tories, who rely on a few super-rich donors to bankroll them, we’re proud to be powered by small donations from hundreds of thousands of people across the country.”



Liberal Democrat spending outstripped income last year, according to the Electoral Commission – the party raised £9,710,00 and spent £10,454,00. Ukip raised £1,739,000 and spent £1,939,000.