Labour £4.8m in deficit after redundancy payouts and membership losses

Labour merchandise on sale at the regional conference in Newcastle in February. Despite the fall in membership, the party raised more than £45m. Photograph: Ian Forsyth/Getty Images

Labour lost more than 91,000 members last year and recorded a £4.8m deficit, caused by staff redundancies, a drop in membership subscriptions and ongoing legal battles with former staff members.

But the party also raised significantly more than the Conservatives over the course of last year, bringing in more £45m compared with about £31m by the Tories.