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WHAT DOES THE ELECTION MEAN FOR BRITISH BUSINESS?

DAVID FROST | BRITISH CHAMBERS OF COMMERCE
“At this stage, a hung parliament is not the best result for business. The UK needs strong and decisive leadership at this time of global financial turmoil. It is imperative that we see an early resolution as to who is going to be occupying Number 10 and Number 11 Downing Street. The UK business community wants to see the economy back on its feet and this election result delays it further.”

ANGELA KNIGHT | BRITISH BANKERS' ASSOCIATION
"What the City wants is a clear decision on the political combination that will be running the country and a clear economic plan. The markets don’t like this stalemate and it is time that difficult economic decisions on the budget and the economy were taken. We don’t know how long it will take the parties todo a deal but it is clear that we can’t go on with an increasingly unpopular Prime Minister."

ALASTAIR NEWTON | NOMURA
"A deal needs to be brokered quickly in order that the markets can have reassurance. The economic community is looking for a balanced economic programme. What we have been left with from last night is bad for the economy and sterling, and it could get even worse for gilts. The US stock market has also been affected and it looks like the UK is heading for another situation like 1974."

HENK POTTS | BARCLAYS WEALTH
"Businesses will be in wait and see mode but it won’t have an immediate effect on their performance. Everybody wants to know what the political balance of power is going to be and then we’ll have a clear idea about the direction this country is going in.”