Forget the polls, the markets should be enough to give any of us a sharp dose of The Fear. Exhibit A: Sterling, which has slumped below $1.50 today, for the first time in nine months, and on the back of what analyists are calling “deficit worries”. And Exhibit B: the UK Gilt markets, where rising interest rates suggest that investors are rapidly losing confidence in Britain’s ability to pay back its debt, just as Coffee House’s Mark Bathgate warned a few months back. Check out the FT for the full story.
Of course, I say “forget the the polls” – but this is all very poll-related. The possiblity of a hung Parliament – and, with it, the possibility of political paralysis – is preying heavily on the minds of investors. This, by itself, should give the Tory case for undiluted change a boost. But I expect Brown will reheat his full menu of “talking down the economy” soundbites, should Cameron & Co.
Britain’s best politics newsletters
You get two free articles each week when you sign up to The Spectator’s emails.
Already a subscriber? Log in
Comments
Join the debate for just £1 a month
Be part of the conversation with other Spectator readers by getting your first three months for £3.
UNLOCK ACCESS Just £1 a monthAlready a subscriber? Log in