Explainer-in-brief: Conservatives’ money problems
The Conservative Party is hiking its membership fees. Annual membership will go up from the current £25 to £39. The move might prove yet another point of friction in the party, with Conservative MP Justin Tomlinson calling it an “absolutely stupid idea” on Twitter.
Yet the party’s headquarters must have felt they didn’t have many other choices to pile up cash. Donations went from £5.3m in the second quarter of the year, down to £2.9m between July and September.
As part of the fundraising strategy, tickets for Conference were also up this year slightly. The early bird went from £55 in 2021 to £60 pounds in 2022, while the advance ticket saw a 10 pounds increase to £120. The standard ticket stayed at £220.
The Labour Party, on the other hand, has seen a solid flux of money as donors start to truly believe it could win the next election.