Credit: Anthony Johnson

NUS Predicted to go Bankrupt in Spring

A recently leaked document indicates that the National Union of Students could bankrupt themselves by the middle of spring next year.

This is the second major leak from the NUS this month. A previously leaked letter from the president of the organisation, Shakira Martin, had shown that they had a deficit of around £3 million, Martin wrote they needed to “get our house in order”. The letter can be viewed below:Image may contain: Paper, Label, Advertisement, Poster, Letter, Page, Text, Document

The most recent leak suggests that crunch-time for the union may come much sooner than expected. Guido Fawkes obtained the full damning financial report, suggesting the organisation may be totally bankrupt by April. Cash available to them will fall to -£39,000 in April, and the full £3 million by June. The NUS had previously had access to an overdraft of £500,000; this, however, ran out on the 5th of November, and has not been renegotiated.

In order to tackle the impending insolvency, a “Strategic Conference” was held by the organisation in order to discuss potential options for their survival. Many of those attended seemed to be deluded about their current financial state, with some referring to the deficit as “alleged”, and others arguing that the priority should be lobbying the government and universities:

At least one individual on Twitter seemed concerned about the lack of regard for the seriousness of the situation from his comrades:

An NUS spokesperson gave a statement to iNews:

We can confirm that the NUS is taking measures to address a number of governance-related challenges. The boards, officers and executive team are agreed that we need to deliver fundamental corporate, democratic and financial reform by Summer 2019.

Ciaran Murray

About Ciaran Murray

Ciaran Murray is the Founder of Sabre’s Edge Media.

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