According to a poll of economists by the Reuters news agency, a victory for the ruling Conservative Party would put the UK in the strongest position for Brexit negotiations with the EU. 14 of the 30 economists polled said that a victory for the Tories would be best for the Brexit talks. The results also indicated that a coalition government would secure the best Brexit deal for the UK.
“A coalition which represents all parties might be best placed to secure a deal with the EU. After all, if Brexit really is the biggest challenge the UK has faced since World War Two, as some people would have it, then it maybe needs a similarly coordinated response,” Peter Dixon, of Commerzbank said.
FOREX strategists predicted that a Conservative victory in the upcoming General Election would increase the value of the Great British Pound (Currency: GBP) by 1.6%. They also predicted that if the left-wing Labour Party won the election, Sterling would fall by 3.5%.
In other related news, a significant figure in the UK transport sector said that Labour’s plans to renationalize railways “don’t stack up.”
Tim O’Toole, leader of First Group, said “I don’t think the case for renationalization stacks up. You cannot get rid of what has doubled the number of people using the rail network leading to the highest volumes in 90 years. It’s unclear as to why people think (renationalization) would be a solution.”