Conservative Party leader Kemi Badenoch has revealed that the party almost ran out of money following its historic election defeat last year, describing the period as one of financial and organisational crisis.
Speaking on the BBC’s Newscast to mark her first year as leader, Badenoch said she inherited a party struggling with internal turmoil and dwindling donor confidence after losing 250 parliamentary seats, the worst result in Conservative history.
“There was a point where we were at real risk of going bankrupt,Without money, a party can’t survive.”
She said much of her early work involved rebuilding trust with donors to stabilise the party’s finances.
“Keeping donors on board actually took quite a lot of my time ,time I wish I had spent out there more,” she added.
Badenoch said the Conservatives are now on firmer financial footing, allowing her to shift focus toward setting out a new policy agenda.
Her efforts culminated in an October party conference speech, where she unveiled plans to abolish stamp duty and withdraw the UK from the European Convention on Human Rights (ECHR).
Reflecting on her first year in leadership, Badenoch said she had learned to approach Prime Minister’s Questions (PMQs) less as a debate and more as theatre.
“It’s more panto than prosecution,” she said, noting that simplifying her approach and focusing on one issue at a time had helped sharpen her exchanges with Prime Minister Sir Keir Starmer.
Badenoch also dismissed speculation of internal plots against her, despite some MPs including Robert Jenrick and Katie Lam making high-profile interventions on divisive policy issues.
As of this week, backbench MPs are once again able to submit letters of no confidence, as the one-year grace period protecting her leadership expires.
The Tory leader urged colleagues to go on instinct when engaging with voters online but warned them to check new policy lines before publicising them.
Looking ahead to this month’s Budget, Badenoch said she was refocusing her party on economic issues.
She dismissed claims that Reform UK, led by Nigel Farage, had become the main opposition, arguing that the party’s ideas do not stand up to scrutiny.
“Reform is hoovering up discontent,” she said, but discontent is not a policy for government.”
