Labour is debt-free, treasurer affirms

Labour’s treasurer, Unite’s assistant general secretary Diana Holland told Conference that she was honoured to present her report and to inform delegates that for the third year in succession the Labour Party remains Debt-Free.

Unlike the Conservative Party with its fat cat donors Diana thanked those that made being debt-free possible – the members, supporters, CLPs along with the Trade Unionists, Socialist Societies, Councillors, MPs, MSPs, AMs, MEPs, Mayors and Police Commissioners.

But before carrying on with her report Diana wanted to pay a specific tribute to Labour’s general secretary and a former Unite colleague, Jennie Formby.

“In the hardest of times”, she said, “Jennie’s commitment, professionalism and dedication, as we saw yesterday, had always been there”.

Returning to her report Diana reiterated that despite media stories Labour remains debt-free in 2019 and she was going to set the record straight.

This story she said was, “One hundred per cent untrue. We are sticking to our finance strategy. The same Finance Strategy that eliminated the legacy debt, and passed the test of three General Elections”.

Diana assured delegates that in spite of the huge pressures Labour faces and the daily shocking acts of this government aligned with pressure to turn away from political parties we are confronted with a climate of cynicism.

Achieving a Labour government to repeal the Tory anti-trade union act that is anti-democratic, anti-worker, and anti-Labour is absolutely essential.

Despite the political rhetoric of the Tories two thousand and eighteen was far from being a year of ‘strong and stable government’. We’ve had instead instability that has meant a big challenge for our Party’s Finances.

Diana explained that instead of being able to return to pre-election staffing and campaign spending, as we did after previous General Elections, the pressure has been on to remain; “General-Election ready immediately after fighting two general Elections in just two years.

“Funding these exceptional demands, in a climate of major political uncertainty, she said, has meant our finance strategy has had to be robust.

This robustness had been achieved by raising funds through donations large and small, all equally valued, all equally important.

The party had received individual donations from 33,000 people last year, on top of donations given alongside thousands and thousands of membership fees along with great support from Trade unions.

To be election ready Labour invested NOW in campaigning activity, using our campaign reserves to build support for whenever the General Election falls”.

The finance strategy explained earlier had resulted in just under 6 million pounds being donated to the Party last year.

And despite the critics who try to undermine the Party Diana reminded them that at the end of 2018, our Party was larger than the membership of the other parties put together.

It was she said a major achievement but none of this can be taken for granted and we can never be complacent. We know how the Tory Party can raise their funds and we know what we are up against.

It is because we know what we are up against that all money is measured against our priorities as a Party and a movement.   Whenever an election is called we have our “General Election Trust Fund providing us with a solid foundation of almost two million pounds, closely guarded, ready to be released only on Day 1, when that General Election is called.

Having this foundation is essential when we are going through a difficult, dangerous and divisive time for our world, we are needed to campaign and win elections at every level.

Above all to win that general election when it is called we need to come together to build the funds to do this.

Diana finished her report back with a passionate invocation as to why we need a Labour government, for parents who don’t know where their child’s next meal is coming from; workers who are treated unjustly; daily discrimination and abuse; older people fearful of how they will afford care; and because of those thousands and thousands of young people who yesterday demanded that we take greater care of their planet.

And with this final declaration to Conference, “We can change lives for the better. When the time comes, at the next General Election, we must defeat this shameful Tory Government. And really deliver for the many.”