UK: Political uncertainty – ING

Robert Carnell, chief economist at ING, points out that ahead of Thursday's General Election in UK, an ICM/Reuters poll showed the Conservatives on 42% of the vote, and Labour on 36%, a level at which a hung parliament becomes a distinct possibility.

Key Quotes

“The upward creep by Labour may be down to voters concerns over the National Health Service under a Conservative government. Newspapers were running yesterday with emotive pictures of a young boy sleeping on coats on the floor of a Leeds hospital. This sort of stuff plays strongly to Labour's favour, and it will be a hard criticism for PM Johnson to rebuff, so close to the election.”

“With only days until the vote, this suddenly now looks all to play for. After its recent strength, sterling could be hard hit if the polls creep further in Labour's direction, and further hung parliament, and more Brexit uncertainty re-emerge.”