No mad rush on sterling or at the airport

[shed driver]

Normally the risk of an incoming labour government we hear that the FTSE will plummet, sterling will do a nosedive and the airports are full of people who have said they will leave the country.

That doesn’t seem to have happened this time, is anyone here converting their wealth into gold and heading for the sun? Even Rishi has said he's likely to be MP for the foreseeable future.

SD.

[sugerbear]

I think there are a lot of reform voters buying up the newly minted crypto currency TiceCoin(tm)

[LimaDelta]

Given it was a foregone conclusion, any movement has already happened.

[IanJ9375]

shed driver said:

Normally the risk of an incoming labour government we hear that the FTSE will plummet, sterling will do a nosedive and the airports are full of people who have said they will leave the country.

That doesn’t seem to have happened this time, is anyone here converting their wealth into gold and heading for the sun? Even Rishi has said he's likely to be MP for the foreseeable future.

SD.

Daily Express or Daily Mail readers frothing this hasn't happened yet lol

[Durzel]

A couple of people I know, both of whom have second homes, are grousing that Starmer is "going to raise taxes to 70%". The guy hasn't even set foot in No 10 yet.

[mac96]

Markets may worry that not only will a Labour government try to do things they don't like, but it will also be incompetent. The former is a lot less true than it used to be (which may not be a good thing, depends what you want), and as for the latter,...well they would have to work VERY hard to be worse than the last lot. Liz Truss anyone?

[vikingaero]

mac96 said:

Markets may worry that not only will a Labour government try to do things they don't like, but it will also be incompetent. The former is a lot less true than it used to be (which may not be a good thing, depends what you want), and as for the latter,...well they would have to work VERY hard to be worse than the last lot. Liz Truss anyone?

Are Labour sufficiently different from the Tories for the markets to worry? The markets hate uncertainty and Labour don't seem to be doing anything radical.

[mac96]

vikingaero said:

mac96 said:

Markets may worry that not only will a Labour government try to do things they don't like, but it will also be incompetent. The former is a lot less true than it used to be (which may not be a good thing, depends what you want), and as for the latter,...well they would have to work VERY hard to be worse than the last lot. Liz Truss anyone?

Are Labour sufficiently different from the Tories for the markets to worry? The markets hate uncertainty and Labour don't seem to be doing anything radical.

I think that was my point! It's a long time since Labour were in any real way a socialist party. The word mainly gets used as a term of abuse by Tories.

[Durzel]

Indeed. I also find it bizarre that people talk about what Labour might do when they haven't been in power for 14 years and have had several leaders in that time. It's just irrational thinking.

[bitchstewie]

Stronger pound.

FTSE up.

[Skeptisk]

Durzel said:

Indeed. I also find it bizarre that people talk about what Labour might do when they haven't been in power for 14 years and have had several leaders in that time. It's just irrational thinking.

Labour have had 7 PMs in total over their history. The Tories managed 5 in the last 14 years.

[limpsfield]

bhstewie said:

Stronger pound.

FTSE up.

Just an observation, the pound is stronger because of a weak dollar - euro is up as well.

Market really haven't cared much, if at all, about this election. I think the US one will be a different kettle of fish.

[bitchstewie]

Sure the point is simply this hasn't been a surprise and there is no "OMG Labour".

If anything I imagine the markets will see it as a period of certainty and stability v uncertainty and chaos.

[Puddenchucker]

If this election, like some of those in the past, has taught the political parties anything, it should be: If you screw-up the economy you won't get re-elected.
People, unsurprisingly, don't like being (or feeling) worse off financially.

What we need is stability & sustainability not boom & bust. Hopefully, Labour have understood that.

Presumably there will be a Budget in the Autumn. That will be the first test of Labour's economic policy.

[thatsprettyshady]

If it was Corbyn, sure. I don't think Starmer is too much if a threat to the status quo.

[Matthen]

I think we'll have had a budget by the end of the month.

They're not going to wait till autumn.

[markh1973]

Matthen said:

I think we'll have had a budget by the end of the month.

They're not going to wait till autumn.

Unlike Truss they want the OBR on side so the Budget will be in the autumn.

[S600BSB]

markh1973 said:

Matthen said:

I think we'll have had a budget by the end of the month.

They're not going to wait till autumn.

Unlike Truss they want the OBR on side so the Budget will be in the autumn.

Correct

[bloomen]

I think I lost count of the number of times 'working people' came up in various speeches in the last 24 hrs.

Which may mean the idle rich will be at the airport sooner rather than later.