SNP'S £800K SLUMP

Struggling party suffers biggest-ever annual deficit

- CHRIS McCALL

THE SNP plunged into the red as it made a loss of £800,000 during Nicola Sturgeon's last full year in charge, it has been revealed.

Figures from the Electoral Commission show the Nats recorded their largest-ever deficit in 2022 as they dealt with a slump in membership.

The loss came despite not having a Westminster or Holyrood campaign to pay for.

The party spent just over £5.05million but pulled in just £4.25million, resulting in a deficit of £803,659. The deficit stood at £732,072 in 2021.

The latest losses left the party with negative reserves of just over £219,000, down from £585,000 in the black.

The losses were caused, in part, by a steep drop in membership numbers and donations.

The SNP's national treasurer admitted the first months of 2023 had also "presented significant challenges following the resignation of Sturgeon as leader and the election of Humza Yousaf as her successor.

Stuart McDonald said in his annual report it was "important to return the party to surplus as we build towards the next general election".

He insisted "neither this deficit, nor the balance sheet were out of keeping with other years in which nationwide elections were fought", with council elections having taken place in 2022.

SNP membership has dropped almost 30 per cent over the last 18 months to stand at a total of 74,000 in June.