Jeremy Corbyn has presided over a loss of Labour party membership that averages at 125 every day in 2018.
New figures show that Labour lost nearly 46,000 members last year, as the party failed to get a grip of its anti-Semitism crisis and its position on Brexit.
Despite the fall, Labour continued to have by far the largest membership of the British political parties, reporting 518,659 individual members on December 31 - a decrease from 564,443 in 2017.
With a possible General Election looming, Labour will be buoyed by membership income rising by almost £800,000 to £16.9m in 2018, according to the treasurers' report from Jennie Formby and Diana Holland.
While raising the most income, Labour also spent the most funds in 2018, according to the financial accounts of political parties.
A Labour spokesman said: “Labour is proud to be one of the largest political parties in Europe, with an active and diverse membership who are working to transform our society for the many not the few.
“Our finances are in good health and we remain on an election footing, ready to fight the election whenever it may be called.”
The Electoral Commission published details from 11 parties in Great Britain, with Labour's income amounting to £45.6 million and expenditure £46.3 million.
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The Conservatives were second with income of £34.2 million and expenditure of £36.3 million while the Liberal Democrats received £6.2 million and spent £6.5 million.
The SNP reported income of £4.7 million and expenditure of £3.6 million, and the Green Party income of £1.9 million and expenditure of £2.2 million.
Income and expenditure for most of the major parties decreased in 2018 compared to 2017, which featured a snap general election.
Labour's income was £55.7 million and expenditure £54.3 million in 2017 while the Tories raised £45.9 million and spent £44.8 million in the same 12-month period.
For the Conservatives under Theresa May's leadership, the treasurers' review from Sir Mick Davis and Alan Mabbutt said the party's income in 2018 was the "highest level ... achieved in the last 40 years, outside a general election or European election year”.
Membership income also increased from £835,000 to £1.47 million, the pair added, although membership numbers were not provided for the period.
Conservative MP Brandon Lewis, in his former role as party chairman, last month said there were 180,000 Conservative Party members during the leadership election ballot.
The Liberal Democrats reported membership numbers decreased from 97,403 in 2017 to 93,649 in 2018, although was said to be 106,000 during the recent leadership election.