2017 campaign will be party’s most frugal in years, with insiders predicting only £7m will be raised.
Labour is expecting to spend less than half as much as the Tories on the general election campaign amid a drive for money donations from its 500,000 members.
Insiders said Labour had already raised around £3.8m for a possible poll when Theresa May announced a snap election two weeks ago. The party added that it had since received £1m in small donations.
Fundraising efforts will continue among union backers and its members. Officials hope this will bring at least another £3m. But private donations from wealthy figures have failed to materialise, Labour insiders said.
The Conservatives consistently spend close to the £19m general election spending limit, and are currently in the middle of a spending drive among their wealthy donors.
One Labour insider said their party would probably raise £7m in total…
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