Union finances improve thanks to spending cuts by big unions

Overall union finances improved in 2006-07 and none of the 10 biggest TUC affiliates made a loss, according to the Certification Officer’s annual report.

The aggregate operating surplus across the 193 unions providing financial returns more than trebled to £203 million compared with just £66 million the previous year, thanks largely to big spending cuts.

TUC unions making large expenditure cuts included public services union UNISON, which made an enormous difference to its overall figures by turning an operating loss of £6.5 million into a £45.6 million surplus. Last year’s loss had been down to a first-time inclusion of pension scheme figures, which had shown an actuarial loss, but the later ones showed a surplus.

Others cutting spending dramatically included the Amicus and T&G general unions, which now form Unite, the CWU communication workers’ union and the Prospect scientific and managerial union.

For further information go to page 15. Source for table: Annual report of the Certification Officer 2007-08

Union finances 2006-07