Tens of thousands quit Labour in first membership drop under Corbyn
Writing in the accounts, Labour's general secretary Jennie Formby and treasurer Diana Holland said there had been an increased income from the membership in 2018, adding that the party was in a state of"election readiness".
"The removal of the Tories outright majority in 2017 and uncertainty around the Brexit negotiations created an opportunity to positively target spending in a non-election year," they wrote. The documents also show that Labour had the largest income and expenditure of all the parties in 2018, taking in £45m and spending £46m.A Labour Party spokesperson said:"Labour is proud to be one of the largest political parties in Europe, with an active and diverse membership who are working to transform our society for the many not the few.
"Our finances are in good health and we remain on an election footing, ready to fight the election whenever it may be called." Accounts for the Conservative Party do not give a specific figure for members, but show income from them increased from £0.8m in 2017 to £1.5m in 2018.
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