It has been a remarkable few days since the general election. With a hung parliament threatening great instability, the Conservatives and Liberal Democrats have finally tied the knot in a new departure for British politics. But what does this mean for the economy? Initial indications are that the deficit reduction plan will push ahead sooner rather than later, but the Tories may give some ground in areas such as inheritance tax. The exact composition of the cabinet is still to be decided but one thing is certain - Labour are out of office. Gordon Brown has resigned not only his premiership, but also his leadership of the Labour party. Probably the biggest question remains to be answered - is it possible for the right and left extremes of both parties to work towards a common goal? There are certainly significant areas of policy divide, but a new fixed term arrangement may help bring some stablity. Exciting times.Wednesday, 12 May 2010
We have a new government!
It has been a remarkable few days since the general election. With a hung parliament threatening great instability, the Conservatives and Liberal Democrats have finally tied the knot in a new departure for British politics. But what does this mean for the economy? Initial indications are that the deficit reduction plan will push ahead sooner rather than later, but the Tories may give some ground in areas such as inheritance tax. The exact composition of the cabinet is still to be decided but one thing is certain - Labour are out of office. Gordon Brown has resigned not only his premiership, but also his leadership of the Labour party. Probably the biggest question remains to be answered - is it possible for the right and left extremes of both parties to work towards a common goal? There are certainly significant areas of policy divide, but a new fixed term arrangement may help bring some stablity. Exciting times.
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