SNP in Hot Water: Membership Plummets and Financial Woes Escalate

The Scottish National Party (SNP) is grappling with significant financial difficulties, attributing its challenges to a marked decrease in membership and the substantial loss of MPs during the last general election. These struggles are highlighted by the party’s recent accounts, which reveal a deficit of £455,254 for the year 2024, a notable fall from a surplus of £661,568 recorded in 2023. Membership numbers have dwindled to 56,011, a drop of over 8,500 since the previous year.

Treasurer Stuart McDonald has stated that the SNP has made the tough choice to reduce its backroom staff, which is aimed at achieving significant spending reductions. In the broader context, the party has faced similar or larger deficits in past election years, such as in 2021 when it reported a deficit exceeding £750,000. McDonald reassured that steps are being taken to improve the party’s financial performance, despite one-time costs contributing to the current deficit.

The SNP suffered a major setback in the last general election, losing 39 seats shortly after John Swinney took over as leader from Humza Yousaf. Additionally, turmoil within the party intensified with former chief executive Peter Murrell being charged with embezzlement. Murrell, who recently appeared in Edinburgh Sheriff Court, remains out on bail, while Nicola Sturgeon, his estranged wife and former first minister, was arrested but later faced no further action.

In an investigation linked to these financial troubles, a £100,000 motorhome was seized, which currently shows a depreciated value of £41,284 in the party’s accounts. Remarkably, despite these financial challenges, SNP membership remains the largest in Scotland, even though it has dropped to 56,011 members from 64,525 last year.

In response to these challenges, McDonald noted an increase in donations to their highest level since 2017, amounting to £937,167 in 2024, but other income sources such as fundraising and grants have declined. Moreover, the party has made internal changes, adjusting the balance of membership income shared between the central party and branches and increasing the levy on its MPs.

The accounts reflect that income from membership fees decreased to £1,833,039, and limitations on documenting membership and donation receipts have led auditors to provide a qualified opinion on the financial records. Mr. McDonald stressed that this report does not delve into matters under the purview of the ongoing police investigation.

Overall, the SNP finds itself in a precarious situation, balancing a reduction in resources alongside efforts to stabilize its finances and rebuild its position in Scottish politics.