Thursday, August 31, 2006

Are the Norwich South LibDems going bankrupt?

A rather detailed copy of the accounts schedule of the Norwich South LibDems makes its way into my hands which shows a rather depressing picture for the party locally, especially given its disasterous local election results.

In two years the party has seen its reserves dwindle from over £14,000 to just around £5,000 with no seeming end to the draining of resources. They are, apparently, losing around £4,000 a year as their expenditure rapidly overtakes their income. Membership is depressingly static (some claim it is actually now in freefall again) and fundraising activities have halved and continue to fall.

How much longer can this go on? Without a large council group to prop up their finances, I am led to believe that the reserves will run out in 2007 at the latest (their party survived that fate a lot longer than Norwich City Council did anyway). Unless local people are ready to start putting their hands in their pockets - and quickly - then things are looking bad for the LibDems in the City.

They have no assets, falling income, rising costs and no prospect of any upturn in electoral fortunes. A failing organisation if ever I saw one.


Anonymous said...

LOL. Well the City Lib Dems were never that good with money were they??

Antony said...

No, but the good thing is that it looks like they are worse with their own!

UPDATE: I am told that their Wensum branch is on the verge of collapse too!

Anonymous said...

But they still have 6 times the councillors the tories have! lol