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21 Apr 2015
UK elections: John Major warns of "recipe for mayhem" – Investec
FXStreet (Barcelona) - Jonathan Pryor, Head of FX dealing at Investec, comments on the new developments surrounding the UK elections and further adds that the uncertainty might only add to further downside pressure for the Pound.
Key Quotes
“Moving on to the UK general election and with 16 days until the poll, Former Prime Minister Sir John Major is to claim that a Labour government supported by the SNP would be a "recipe for mayhem" in a speech today. After we heard a similar tone from former Prime Minister Tony Blair regarding Conservative plans to hold an EU referendum if in power, Sir John will use a speech in the Midlands to say a Labour-SNP government would mean families paying with "higher taxes, more debts and fewer jobs".”
“The closer we get to May 7th and whilst the polls remain close the more Sterling will feel the wrath of uncertain investors.”
“It is reported that the former Prime Minister will also say a future Labour government would be subjected to a "daily dose of blackmail" from the nationalists.”
“Could concerns over SNP influence sway those south of the border to vote Conservative? Or will a desire for change see a rise in votes for Labour and supporting parties such as the Greens? Only time will tell but one thing is for sure, the Pound will want a quick and functioning result or we could see some downside pressure in the days that follow.”
Key Quotes
“Moving on to the UK general election and with 16 days until the poll, Former Prime Minister Sir John Major is to claim that a Labour government supported by the SNP would be a "recipe for mayhem" in a speech today. After we heard a similar tone from former Prime Minister Tony Blair regarding Conservative plans to hold an EU referendum if in power, Sir John will use a speech in the Midlands to say a Labour-SNP government would mean families paying with "higher taxes, more debts and fewer jobs".”
“The closer we get to May 7th and whilst the polls remain close the more Sterling will feel the wrath of uncertain investors.”
“It is reported that the former Prime Minister will also say a future Labour government would be subjected to a "daily dose of blackmail" from the nationalists.”
“Could concerns over SNP influence sway those south of the border to vote Conservative? Or will a desire for change see a rise in votes for Labour and supporting parties such as the Greens? Only time will tell but one thing is for sure, the Pound will want a quick and functioning result or we could see some downside pressure in the days that follow.”