May
14 Election result bad for business?
A hung parliament and no sign of a strong government emerging in the near future is a cause for concern for many businesses. The pound, weakened as a result of the election result, is the biggest worry for many business owners.
Lack of action on the deficit could also cause markets to lose faith in the economy and put the UK’s credit rating under pressure, making it more difficult to obtain business loans at a sensible rate. This in turn would put pressure on investment and jobs.
Whilst it had looked likely that a Conservative/Lib Dem coalition was on the cards, the option favoured by many businesses, it has also emerged that the Lib Dems have been having secret talks with senior Labour Party figures. We hope for a swift resolution so that whoever is in power can start tackling the economic problems as soon as possible.