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  1. Wealth
March 30, 2010

CISI: Hung Parliament will hurt UK

By Spear's

Four out of five financial services practitioners believe the UK economy will suffer if the general election results in a hung Parliament, a CISI survey shows.

Four out of five financial services practitioners believe the UK economy will suffer if the general election results in a hung Parliament, a CISI survey shows.

Of those taking part, 21% suggested that having no single political party with an overall majority would plunge the country into a prolonged recession.

A further 59% thought that the impact would be to delay economic recovery.

However, 12% considered that there would be no effect and 8% said a hung Parliament would provide a boost to the economy.

Comments from those taking part included: “Barely any legislation would be passed because of an ongoing blood bath created by warring political parties” and “precious time would be taken up by the parties squabbling over who gets what roles, whereas our economy requires decisive and effective action.”

But another respondent said: “The political parties would be forced to work together for the benefit of the country rather than for their own interests.”

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