Labour’s Treasurer Mike Payne admitted at the latest NEC meeting that Unite’s disaffiliation is draining the party’s coffers, and it will run a deficit in 2026. Admittedly Labour should be used to running high deficits by now…
According to NEC member Cat Arnold’s minutes:
“Treasurer Mike Payne said he has seen the annual accounts and they await the internal audit. Discipline will hold us in good stead for 2026, but we will not have a balanced budget but be in deficit. The Unite disaffiliation has had an impact and will have consequences.”
Unite has long been Labour’s biggest union donor. The party is clearly terrified of what happens next. As Arnold herself puts it, other unions are “considering their options”. Time to tighten the belts…
