First set of 2023 financial accounts for political parties published
First set of 2023 financial accounts for political parties published
Financial accounts of political parties and accounting units, with income and expenditure of £250,000 or less, have been published today by the Electoral Commission. The accounts are for the year ending 31 December 2023.
323 political parties in the United Kingdom reported their financial accounts as being within this threshold.
Details of parties and accounting units with income and expenditure over £250,000 will be published in due course.
Hannah Brown, Head of Registration, Compliance and Transparency, said:
“All political parties must keep financial records and submit annual statements of accounts to us. Publishing this data helps voters see the money that political parties spend and receive. This is a vital part of delivering transparency in political finance in the UK, and in enhancing public confidence and trust in our democratic processes.”
The 10 parties that reported the highest income or expenditure between £50,000 and £250,000:
| Party | Income | Expenditure |
|---|---|---|
| Ashfield Independents | £81,287 | £83,333 |
| Communist Party of Britain | £246,930 | £181,997 |
| English Democrats | £19,567 | £90,333 |
| Hersham Village Society | £5,939 | £132,292 |
| Socialist Party (Northern Ireland) | £78,425 | £76,678 |
| The Socialist Party of Great Britain | £203,872 | £119,433 |
| Traditional Unionist Voice - TUV | £47,053 | £71,234 |
| UK Independence Party (UKIP) | £88,812 | £93,877 |
| Ulster Unionist Party | £191,614 | £207,006 |
| Upminster and Cranham Residents Association | £76,489 | £69,524 |
The full financial accounts for each of the 323 political parties with income and expenditure of £250,000 or less are available on the Commission’s website.
Accounting unit income and expenditure
Political parties may register 'accounting units’ with the Electoral Commission. These are constituent or affiliated units of a political party, including constituency parties, which have separate finances from the main party.
Accounting units are only required to deliver an annual Statement of Accounts to the Electoral Commission if either their total income or total expenditure is over £25,000. 434 accounting units in the UK reported income and expenditure between £25,000 and £250,000.
Total income and expenditure of accounting units by party:
| Party | Income | Expenditure |
|---|---|---|
| Alliance - Alliance Party of Northern Ireland | £131,221 | £131,221 |
| Conservative and Unionist Party (GB) | £12,087,338 | £12,405,297 |
| Conservative and Unionist Party (NI) | £26,264 | £14,209 |
| Co-operative Party | £29,409 | £24,784 |
| Democratic Unionist Party - D.U.P. | £223,094 | £235,402 |
| Green Party | £1,077,581 | £1,066,092 |
| Labour Party | £2,841,368 | £2,178,653 |
| Liberal Democrats | £7,825,174 | £7,337,154 |
| Plaid Cymru - The Party of Wales | £342,887 | £296,265 |
| SDLP (Social Democratic & Labour Party) | £92,523 | £93,630 |
| Ulster Unionist Party | £122,683 | £129,655 |
The financial accounts for all accounting units published today are available on the Commission’s website.
Comparisons with previous years
Below are the total sums of the financial accounts for political parties and their accounting units that fell under the £250,000 threshold in the two previous financial years:
Political parties
| 2023 | 2022 | 2021 | |
|---|---|---|---|
| Income | £2,197,446 | £2,641,865 | £2,751,698 |
| Expenditure | £2,292,623 | £2,312,165 | £2,623,378 |
Accounting units
| 2023 | 2022 | 2021 | |
|---|---|---|---|
| Income | £24,799,532 | £20,821,605 | £21,752,851 |
| Expenditure | £23,912,361 | £21,893,438 | £22,496,445 |
Figures comparing the latest financial accounts for political parties and their accounting units with those for 2022 and 2021 provide a general comparison and do not necessarily compare the same parties and accounting units. The income and expenditure of parties and accounting units vary each year, so they may fall into different reporting thresholds.
Late submissions
41 political parties and accounting units that were expected to have income or expenditure under £250,000 failed to submit their accounts before the deadline of 30 April 2024. Where parties and accounting units have delivered their accounts late we may take appropriate and proportionate action in line with our Enforcement Policy.
Political parties and their accounting units with income or expenditure in 2023 of more than £250,000 were required to submit their audited accounts by 7 July 2024. These will be published in due course.
Ends
For further information please contact the press office on 020 7271 0704 or email [email protected]. For outside office hours call 07789 920414.
Notes to editors
- The Electoral Commission is the independent body which oversees elections and regulates political finance in the UK. We work to promote public confidence in the democratic process and ensure its integrity by:
• enabling the delivery of free and fair elections and referendums, focusing on the needs of electors and addressing the changing environment to ensure every vote remains secure and accessible
• regulating political finance – taking proactive steps to increase transparency, ensure compliance and pursue breaches
• using our expertise to make and advocate for changes to our democracy, aiming to improve fairness, transparency and efficiency
The Commission was set up in 2000 and reports to the UK, Scottish and Welsh parliaments. - Accounting units with income and expenditure that are either £25,000 or less are not required to submit their accounts.
- The fact that a statement of accounts has been placed on the Commission’s website should not be taken to indicate that the Electoral Commission has verified or validated it in any way.
- Figures for income and expenditure have been rounded. Please see our online database for exact amounts.
- Details of how failures to submit a statement of accounts by the deadline have been dealt with in the past can be found in our publication of closed cases.