A Tory Manifesto to Move Markets
British Prime Minister Boris Johnson revealed the Conservative Party’s election manifesto yesterday, a glossy brochure of political policies proudly held high. Let’s break them down, as markets remain divided on whether deep into a new term, he’ll still be holding up these promises!
Fifty thousand new nurses and a New Year’s resolution to “get Brexit done!” were the two headline grabbers. An Australian-style points-based immigration system is also in the 56-page document, as well as freezing tuition fees, a new rail line, and net-zero emissions by 2050!
These are bold policies, like Labour’s. But economic pledges to hold back on spending mean they’re also “fully-costed,” like Labour’s. There’s no doubt that each manifesto is the other’s stark ideological opposite, and testament to today’s divisions in Britain, this coming election could set a record for so-called “negative votes” (voting against the other person).
Given Labour leader Jeremy Corbyn’s promise to hold corporations to account with tax hikes, markets will probably rise in relief of a probable Tory victory. However, speed-running Brexit could scatter sentiment on the UK’s FTSE 100 exchange. Smaller stocks nestled deep within the FTSE 250 and FTSE All-Share are likely to swing the most violently as Tory Brexit tactics unfold. BoJo’s true intentions divide bystanders. Some in the electorate wouldn’t trust him to run a Tombola!
So, with smaller parties like The Brexit Party, the Liberal Democrats, the SNP, and the Greens tipped to take votes away from the Tories, many in government opposition are determined not to let Boris off the hook. All in rival ranks to BoJo have begun forensic work on his manifesto already, looking for contentious points of debate in the small print that could trip him up over the next three weeks. If you’re British and of age, make sure you’re registered to vote. Your say could move markets!
