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A Labour Government Would Be Best for UK Markets, Investors Say
Posted
September 18, 2023
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0:57Now PlayingA Labour-led government after the next UK election would be the best result for stocks and the pound, according to a new Bloomberg survey that shows the ruling Conservatives have failed to win back the faith of global investors a year after Liz Truss’s disastrous mini-budget.
About two-thirds of finance professionals said an outright win for Keir Starmer’s center-left party or a Labour-led coalition would be the “most market-friendly outcome,” a stinging verdict on a Tory party that’s long considered itself the natural partner of business and finance.
Despite Prime Minister Rishi Sunak’s efforts to steady the economic ship since replacing Truss last year, 80% of the 227 Markets Live Pulse survey participants — who identified themselves as portfolio managers, traders and retail investors — said confidence in UK assets hadn’t fully recovered.
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