The Scottish National Party (SNP) has revealed a dramatic drop in membership numbers alongside a ballooning financial shortfall, according to its freshly published annual accounts. The party now faces a deficit of £455,254 for 2024 – down from a surplus of £661,568 the previous year – after losing more than 8,000 members in the last twelve months, bringing its total down to 56,011, less than half of its peak level tracked in 2019.
SNP national treasurer Stuart McDonald commented: “It is important to point out that a deficit of this nature is not unusual during a parliamentary election year – for example, 2021, 2017 and 2016 all saw similar or greater deficits incurred.” McDonald added that the party was forced to make “very tough” decisions regarding staff, saying redundancies had led to “substantial cuts in expenditures.” He explained the scale of the downturn in membership and staffing was “challenging” and had significantly impacted the SNP’s financial health.
The accounts show that, along with the decline in membership, membership fees have dropped from £2.1 million to £1.8 million, confirming that the party’s base is shrinking. At the same time, donations surged to £937,167, their highest since 2017. The SNP remains Scotland’s largest party by membership but has suffered substantial political setbacks, including losing 39 seats in last year’s general election—a reversal which followed John Swinney’s succession as party leader.
Notably, turmoil continues to surround SNP finances after former chief executive Peter Murrell, estranged spouse of ex-first minister Nicola Sturgeon, was charged with misappropriation of party funds. The accounts indicate the party still owes Murrell £60,000 from a 2021 loan, and the likelihood of full repayment remains uncertain.
They also show the £100,000 motorhome seized by Police Scotland during its investigation into the SNP’s finances is now worth just £41,284.
Scottish Conservative MSP Craig Hoy said the report raises “serious questions” for the SNP.
“With a deficit of nearly half a million it is clear the nationalists cannot be trusted to even run their own finances, never mind the ever-growing black hole they are presiding over in Scotland’s finances,” he stated, adding that it is “remarkable” the SNP still owes money to Murrell.
“It is now worth well over less than half of what they initially paid for it, though they claim they expect it to be released in the future,” Hoy said. “As even diehard nationalists continue to lose faith in the SNP, it sums up why we must get them out next year and finally move Scotland on from the SNP’s independence obsession.”
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A spokesperson for the SNP said: “The SNP is the largest political party in Scotland by far and it is very encouraging to see extraordinary levels of donations over the course of last year – the highest since 2017.
“Our success relies on all of our members and supporters who contribute in whatever way they can.”
