National Union of Students’ Group Lost £5.4 Million, Has £12 Million Pension Deficit

If the NUS is going bust it is going bust big. Last week Guido revealed how the organisation is looking at a £3 million deficit for the group in this and future financial years.” That is an understatement…

Guido can reveal that the NUS has a pensions liability of over £12.2 million, and is £1.8 million in hock to the banks.

Close examination of the NUS’s Financial Statement further reveals that in 2017 the NUS made a loss of £3.5 million, a larger deficit than last week’s letter admitted to, a more than doubling of the previous years losses. The position is worsening…

The NUS’s parent company made a total combined loss of £5.4 million. This makes the pensions liability even more grave. There is no chance of the deficit being made up by a loss making NUS.

These are the finances of an organisation that is on its last legs. If Student Unions around the country don’t want to be on the hook for this financial mess, they should seriously think about disaffiliation.

Read the shocking accounts in full here.




Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Dominic Raab wrote in his letter of resignation…

“This is, at its heart, a matter of public trust,” he told the PM, concluding: “I cannot reconcile the terms of the proposed deal with the promises we made to the country in our manifesto at the last election… I believe that the regulatory regime proposed for Northern Ireland presents a very real threat to the integrity of the United Kingdom. I cannot support an indefinite backstop arrangement, where the EU holds a veto over our ability to exit…”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.