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

Treasurer's report describes last year as difficult and demanding' but says return to normal operations is expected

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.