Monday, July 30

UKIP's cash flow crisis

So UKIP is facing an acute cash flow crisis with the Sunday Telegraph reporting John Whittaker's admission that the troubled party has between £5,000 and £10,000 left in its coffers.

Whittaker, UKIP's president and MEP for the North-West, made the admission during a court hearing as part of UKIP's battle with the Electoral Commission (the commission took legal action against UKIP over illegal donations worth more than £360,000 from UKIP donor Alan Bown). Funny, UKIPwatcher seems to remember Devil's Kitchen insisting that UKIP's accounts were all in order and that everything was in hand. Apparently not.

According to the Telegraph, UKIP received donations totalling £141,000 in 2006 compared with £1.7m in 2004 - not very surprising considering that UKIP MEP Tom Wise is under investigation for embezzling public money and former UKIP MEP Ashley Mote is on trial for £70,000 worth of benefit fraud.

Alan Bown has given more than £1m to UKIP and, now that Yorkshire multi-millionaire Paul Sykes, who bankrolled UKIP's 2004 European election campaign, seems to have pulled the plug on further funding, he is ploughing an increasingly lonely furrow. Besides, Bown may be very wealthy, but UKIP have spent over £7m over the past six years yet their only parliamentary representatives outside Brussels are a couple of ex-Tory peers in the unelected House of Lords. With the party polling around 1-2% in the UK and yet to come even remotely close in a Westminster by-election, Mr Bown could be forgiven for not wanting to throw good money after bad on a busted flush like UKIP.

1 comment:

Anonymous said...

it might have problems but at least it has money unlike labour and tory's and lib dems yet again ukip watch is only telling a bit of the story maybe if ukip watch told how bad labour and torys were doing then maybe ukip would look good but there again ukip watch cant be fair but there again when a party like ukip is growing and doing well people will always but you down. and aquestion for the owner of this site is it funded from the uk lol :) would make alot of sense