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A hung parliament - What it might mean for Britain

27/04/2010

A poll conducted by YouGov this weekend placed the Conservatives narrowly in front of the other two main parties with 34%, Labour 28% and Liberal Democrats 30%. Described as a three horse race, what might a hung parliament mean for Britain?

Key concerns over a hung parliament are that the financial markets would react badly with Sterling and gilt markets being the most vulnerable with a knock on affect on FTSE companies. Uncertainty and failure to reach agreement could spark fears resulting in Sterling and British sovereign debt sell off. Kenneth Clarke warned that, “The markets will not wait for all the discussions and horse trading. Sterling will wobble. If Britain doesn’t deliver a Government a working majority, markets don’t think that we can tackle the problem, then the IMF will have to do it for us.”

No government of national unity or grand coalition of all major parties has been formed in Britain since World War Two, although there were several earlier in the 20th century.

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