Consultancy firm set up by Jim Murphy makes just £10 a day

A consultancy firm established by a former leader of Scottish Labour has made just £10 a day on average.

Jim Murphy lost his East Renfrewshire seat at the 2015 General Election. Picture: SWNS

Arden Strategies, set up by Jim Murphy in 2015 after he lost his seat at that year’s General Election, had just £3,692 in its profit and loss account in its first 12 months, according to unaudited accounts.

The former MP for East Renfrewshire is the sole director of the firm, which offers clients “insight, advice, strategy”.

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The accounts, signed, off on June 30, cover a period from October 2015 to October 2016 and state the company had net assets of £33,190 by last October, made up of £14,190 in stocks, £17,695 in monies due in to it and £1,305 in cash at the bank.

This was offset by £29,398 owed to creditors.

“I don’t think too many folk will be surprised that Jim Murphy’s special brand of ‘strategic advice’ earns him just a tenner a day,” SNP MSP Gail Ross told The Herald.

Mr Murphy reportedly named his business after the Glasgow housing estate where he grew up.