Reuters - Video

Edition: U.S. | U.K. | IN | CN | JP

The Exchange

UK economy is election battleground

Monday, April 27, 2015 - 02:11

With just 10 days to go before polls open in the UK, the rival parties have been unveiling their plans to keep the economy in fighting form. But, as Sara Hemrajani reports, the markets seem indifferent despite the election uncertainty.

▲ Hide Transcript

View Transcript

A passionate pledge from David Cameron. The British prime minister is driving home his message on the economy by focusing on small businesses. SOUNDBITE: UK Prime Minister, David Cameron, saying (English): "The ambition is to be a country based on the right values, on the values of work, on the values of effort, on the values of reward following that effort. That is what we need to succeed. So if you dream of going on your own and starting a business, I am on your side." Cameron unveiled the Conservative party's plans for supporting entrepreneurs. The range of measures includes lower corporate taxes, less red tape and improved broadband connections. With just 10 days to go before voting opens, the health of the British economy has taken centre stage. Labour leader Ed Miliband is turning his attention to the housing market, vowing to help first-time buyers. Still neither party seems to be making much headway in the polls, indicating another coalition government may be likely. But that uncertainty isn't rattling investors - in fact the UK's financial markets have remained fairly calm. Charles Stanley's Jeremy Batstone-Carr. SOUNDBITE: Charles Stanley chief economist, Jeremy Batstone-Carr, saying (English): "The UK's major political parties are committed to, by and large, the same ultimate goal - debt and deficit reduction. How that is achieved of course is a major differentiator, but as far as global investors are concerned, it would appear that the major parties' commitment to fiscal rectitude suggests that the potential scope for a destabilising, market unfriendly administration, that might perhaps focus more on increasing taxation, increased spending, is comparatively limited." But nervousness over parliament could set in after the vote on May 7 should the Scottish nationalists hold the balance of power. With its long term goal of independence for Scotland, the SNP's influence on policy would raise questions about the future of the UK. So too would a referendum on EU membership promised by Cameron if the Conservatives win a second term.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

UK economy is election battleground

Monday, April 27, 2015 - 02:11