Could Brexit be killing UKIP financially?

Nigel Farage is the interim leader of Ukip after Diane James resigned 18 days after being appointed [Image: Independent].

Nigel Farage is the interim leader of Ukip after Diane James resigned 18 days after being appointed [Image: Independent].

A couple of related news reports are suggesting hard times lie ahead of the UK Independence Party, after it achieved its aim and voters decided to leave the EU by a narrow margin.

It seems that victory could mean death for the party, after it was revealed that it is moving out of its central London HQ – and that its own European Union funding will leave a large hole in its finances after it is withdrawn.

Party members are denying that the move out of Great Smith Street, Westminster, implies any financial pressure – according to this Independent report:

UKIP insiders have confirmed the party has vacated its central London office and no one has “bothered looking for a new one”, leaving the troubled party without a headquarters.

A spokesman for Ukip told The Independent that while the party made use of the large office on Great Smith Street, Westminster, during the EU referendum campaign, it would now be “deeply irresponsible” to continue using members’ money to fund it, given the reduced operation and staffing.

The party spokesman also dismissed suggestions they had been “kicked out” of their central London offices for financial reasons, adding that it was a “silly” claim and that some people are “talking through their hats”.

[Source: Ukip without an HQ after leaving its central London base amid claims of financial difficulties | The Independent]

But Buzzfeed News is suggesting that Brexit could mean bankruptcy for the right-wing party:

Concerns have been raised about the state of UKIP’s finances following the EU referendum, with major donors defecting to the Conservatives or threatening to form a new party now UKIP has achieved its main objective.

Now, to make matters worse, an analysis by BuzzFeed News shows just how much the party benefits from EU funding. Many support staff and a large proportion of the party’s most prominent individuals are reliant on the EU for their income, which will vanish in 2019 if the government sticks to its planned timetable for Brexit.

Collectively UKIP’s 22 MEPs can claim up to €6,072,000 (£5,400,000) a year from the European parliament to fund staff costs, with limited scrutiny of how it is spent.

UKIP’s 22 MEPs also benefit from EU-funded salaries worth €95,000 a year (£84,484) and expenses, giving them the freedom to campaign for UKIP.

The situation is made worse by the party’s struggle to establish itself in domestic politics. The only prominent UKIP politicians certain to continue to receive full-time salaries from politics after 2019 are the party’s only MP, Douglas Carswell; its two London assembly representatives; and seven members of the Welsh assembly, including Neil Hamilton.

[Source: Why Brexit Will See UKIP Lose Millions Of Pounds In EU Funding – BuzzFeed News]

So it seems UKIP will face a financial struggle if it wants to continue for the foreseeable future.

From the articles, some members seem happy to have voted for the end of their own jobs.

But in an uncertain post-Brexit world, how long will that continue?

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8 thoughts on “Could Brexit be killing UKIP financially?

  1. Christine Cullen

    Money is power. Let’s hope the lack of it means the end of them. I am sick of the way they have infected our society like a virus, either setting off racism, hate and bigotry, or at least normalising it. Horrible political party.

  2. NMac

    Pity it has taken so long for people to recognise that UKIP and its leaders are extremely unpleasant, poisonous racial bigots.

  3. Barry Davies

    I see the remainiacs are out in force with bigotted claims of racism, there is only one race of humans it is called the human race, and as long as bigots run round screaming racism there will be bigots who use that as an excuse to pretend otherwise. The comment about high level members of skip getting money from the eu is disingenuous after all as the UK’s largest party in the eu parliament they do get paid for being MEP’s and supporting Britain in that talking shop. I find it difficult to understand how wanting to have self governance is vile or poisonous or a virus, and who exactly are they traitors to? a corruption ridden democratically deficient trans national level of governance? Certainly not the UK where the majority supported their aims and objectives to leave the crumbling empire of the eu. I always say when people are talking about terrorists that one persons terrorist is another persons freedom fighter, Nelson Mandela, or Ghandi for example, or a myriad of Irish freedom fighters. It is time that people who may vile and untrue statements about members of UKIP shut up and stopped telling lies or spreading smear campaigns.

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