Tim Watkins, Managing Partner of Randall & Payne Chartered Accountants has given his reaction to Labour’s emphatic victory.
The pound has remained stable and the markets have reacted positively to Labour’s landslide election victory.
Shares in leading companies on the UK stock exchange have risen reflecting expectations among investors of a period of stability after years of market volatility under the Conservatives.
“Labour have said they want to grow the economy and the way to do that is to give businesses consistency so we all have the confidence to invest”
Tim Watkins, Managing Partner of Randall & Payne Chartered Accountants
The top-flight FTSE 100 rose up to 0.4% in early trading after recording its best day in almost two months in the previous session.
Mr Watkins said: “The result was much as expected and mirrored the predictions since the election was called. Labour have said they want to grow the economy and the way to do that is to give businesses consistency so we all have the confidence to invest.
“For individuals there have been promises of no changes to some taxes and silence or rumour around some of the capital taxes. For now, we will just have to wait and see. At the end of the day, we have seen what happened when Liz Truss tried something different so whatever party is in power their hands are tied somewhat by the global economy these days.”
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