Forum Views ()
Forum Replies ()
Read more with google mobile :
UK hung parliament risk up
|
Edition:
U.S.
Article
Save
Email
Print
Reprints
Most Popular
Most Shared
Government set to unveil offshore drilling plan
29 Mar 2010
REFILE-UPDATE 4-Mini-Big Bangs created in cosmos origins project
30 Mar 2010
Obama wants U.N. sanctions on Iran in weeks
| Video
5:11am EDT
Sex infection gonorrhea risks becoming "superbug"
29 Mar 2010
Obama announces drilling expansion for climate push
| Video
11:41am EDT
Government set to unveil offshore drilling plan
29 Mar 2010
REFILE-UPDATE 4-Mini-Big Bangs created in cosmos origins project
30 Mar 2010
Obama announces drilling expansion for climate push
| Video
11:41am EDT
States high on pot tax as budget cure
30 Mar 2010
Theme park highlights challenges facing dwarfs
| Video
27 Mar 2010
Pictures
Editor's Choice
A selection of our best photos from the past 24 hours. Slideshow
UK hung parliament risk up
Peter Apps, Political Risk Correspondent
LONDON
Wed Mar 31, 2010 9:59am EDT
Factbox
Factbox: Who are the contenders for Britain's finance minister?
9:47am EDT
Related News
UK Conservatives propose bank to fund social action
9:59am EDT
Britain's Conservative Party leader, David Cameron, listens to questions during an interview on BBC television, in Stourbridge, central England March 28, 2010.
Credit: Reuters/Jeff Overs/BBC/Handout
LONDON (Reuters) - An outright win for Britain's opposition Conservatives would suit financial markets best in an upcoming election, but economists polled by Reuters ranked the party's likely choice for finance minister poorly against peers.
World
The poll of 31 economists taken this week showed an increasing number predicting a hung parliament in the poll on May 6 and warning this was the worst result for markets.
The poll results derive from extra questions put to Reuters' regular panel of economists for its closely-watched Bank of England interest rate poll.
An outright opposition Conservative majority was seen as the best market outcome, but they were distinctly lukewarm in their enthusiasm for current Shadow Chancellor George Osborne, ranking him fourth out of five potential finance ministers.
Conservative shadow business spokesman Ken Clarke was their favored choice, followed by third-party Liberal Democrat finance spokesman Vince Cable and current Labour Chancellor Alistair Darling, all outperforming Osborne.
The predictions on a hung parliament -- given a median 55 percent and mean 56 percent chance -- was a sharp shift from a similar poll published on January 28, which showed only a 25 percent chance of no one party winning an overall majority.
Since then, opinion polls have shown the Conservative lead shrinking sharply, raising market worries an inconclusive outcome might provide policy paralysis just as ratings agencies and investors demand action on a record deficit.
Those worries have hammered sterling, which has lost some 6.5 percent against the dollar in two months. It has lost 2.5 percent against the euro at a time when the single currency has itself been battered by worries over Greece and other troubled fringe economies.
"Markets generally believe the Conservatives will act faster on the deficit, so it's no surprise that is the favored option," said Adam Cole, head of foreign exchange strategy at Royal Bank of Canada. "The main thing is to have a credible government, of whatever color."
Overall, those polled saw a median 30 percent chance of a Conservative majority, a 35 percent chance they would be the largest party in a hung Parliament, a 20 percent chance Labour would be the largest party in a hung parliament and a 10 percent chance Labour would win outright.
CIGAR-SMOKING EX-CHANCELLOR
Those polled ranked a hung parliament with Labour as the largest party as the worst outcome for markets, followed by an outright Labour majority followed by a hung parliament with the Conservatives as a largest party.
Least favored as a potential occupant of number 11 Downing Street was Ed Balls, a close confidant of Prime Minister Gordon Brown who some have speculated might replace Darling -- although Brown rejected this in a weekend interview.
The Conservatives have poured scorn on occasional suggestions they could replace Osborne -- a close personal friend of party leader David Cameron and sometimes accused of inexperience -- with Clarke. However, Cameron said earlier this month he could fire Osborne if he had to.
Osborne, Darling and Cable faced off against each other in a televised debate on Monday, with Liberal Democrat Cable widely seen coming out on top.
A former economist for oil firm Shell widely credited with partially predicting the financial crisis, Cable repeatedly polls as one of Britain's most respected politicians.
While his party is seen having almost no chance of outperforming its two larger rivals, they could hold the balance of power in a hung parliament, with Cable a potential coalition chancellor.
They, and some analysts, argue that a hung parliament would not necessarily prevent responsible policy making, pointing to similar circumstances in Europe and elsewhere. Others argue that Britain has no tradition of coalition politics and such an outcome would prove relatively unstable.
(Polling by Bangalore Polling Unit; Additional reporting by Andy Bruce; Editing by Patrick Graham)
World
More from Reuters
Private sector sheds 23,000 jobs in March
NEW YORK (Reuters) - U.S. private employers unexpectedly shed more jobs in March, dampening hopes for job growth ahead of Friday's key employment report.
Anglo Irish Bank posts $17 billion loss
Obama announces drilling expansion for climate push
| Video
EMI needs fresh cash as licensing talks collapse
Rite Aid forecast worse than expected; shares down
Irish banks look beyond "bad bank," recession
» More Top News
Coming soon: Offshore drilling
President Obama is hoping that a plan to allow oil and gas exploration off the coast of Virginia will kill three birds with one stone. Full Article
Video: Short and long term impact
Deepwater drillers have room to grow
Poll: Do you support offshore drilling?
Oil and Gas Exploration
Goodbye, Federal Reserve
Hello Fannie and Freddie. The Fed ends its $1.25 trillion mortgage bond buying binge, but there's good news for the housing market. Full Article
All okay without the Fed?
A buying opportunity?
Housing Market
© Copyright 2010 Thomson Reuters
Editorial Editions:
Africa
Arabic
Argentina
Brazil
Canada
China
France
Germany
India
Italy
Japan
Latin America
Mexico
Russia
Spain
United Kingdom
United States
Reuters
Contact Us
Advertise With Us
Help
Journalism Handbook
Archive
Site Index
Video Index
Analyst Research
Mobile
Newsletters
RSS
Podcasts
Widgets
Your View
Labs
Thomson Reuters
Copyright
Disclaimer
Privacy
Professional Products
Professional Products Support
Financial Products
About Thomson Reuters
Careers
Online Products
Acquisitions Monthly
Buyouts
Venture Capital Journal
International Financing Review
Project Finance International
PEhub.com
PE Week
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
Other News on Wednesday, 31 March 2010 Europe risks 'second league' of world economies: IMF
Want to see the iPad? So do Apple store employees
Top US commander visits Afghan frontline
CERN scientists closer to understanding Big
Palestinian killed as Israelis fire on protestors
Putin orders Russia to hunt down bombing militants
Nigeria court confirms Twitter chat ban on amputation
Burglars tunnel into French bank vault
Atom smasher opens 'new era' for science
Taiwan design house files complaint against Apple
Part of Nero's ancient palace collapses in Rome
Elephants move like 4x4s: scientists
Maliki is block in Iraq coalition merger talks
|
Berlusconi's coalition score gains in regional poll
Britain emerges from recession with new growth upgrade
Coal fuels much of Internet "cloud", says Greenpeace
Palestinian PM ploughs ahead with future state
Rights at issue as U.N. chief tours Central Asia
|
Australia reveals prototype 'bionic' eye
Google searches trigger error messages in China
Facebook veterans in venture capital spotlight
Turkey asks Germany for help if EU bid stalls
|
Colombia rebels to free hostage held over a decade
|
Nigerian airports start installing body scanners
|
2 detained for dead babies found along China river
U.N. Bhutto assassination inquiry report delayed
Thai Red Shirt protesters reject more govt talks
Thai reds refuse more talks, plan fresh weekend demo
Obama signs final healthcare changes, defends law
Iran nuclear drive in focus at G8 talks
Leaks reported at China mine days before flood
Obama signs package of final healthcare changes
Vietnam signs nuclear energy pact with US
Kashima first into AFC Champions League knockouts
US general apologises for anti-gay remarks
Top US commander visits Afghan war frontline
Journalists in China say Yahoo accounts hacked
Want to see the iPad? So do Apple store employees
|
China's Geely to spend 2.7 billion dollars buying Volvo
Kijiji begone: EBay rebrands classified site
|
Bombardier signs credit deal with China's CDB
Peru's Machu Picchu reopens
US-ENTERTAINMENT Summary
Honda to create 400 jobs in Canada
Author Stephenie Meyer to release "Eclipse" novella
China should adjust yuan before September: PBOC adviser
Maldives to host Akon's aborted Sri Lanka concert
US fund Steel Partners fails to oust Japan's Sapporo chiefs
Bordeaux uncorks blockbuster vintage, eyes China
India's Bharti clinches deal to buy Zain assets
Chinese director's film evokes civil war's cost
Work begins on Cambodian hydropower project
"Titans" Worthington fights his way to film stardom
Morgan Stanley, Mitsubishi UFJ to merge operations
Online Muslim sex shop launched in the Netherlands
Standard Chartered to raise $500 mln in India
Bruce Lee's wife, daughter open Hong Kong exhibit
Singer Badu causes stir with nude video at JFK site
|
Rip Torn exits rehab and pleads not guilty
|
Palestinian teen killed as Israelis fire on Gaza protests
Afghanistan now also world's top hashish producer: UN
Nine dead in blasts in Russia's Dagestan: police
Obama wants U.N. sanctions on Iran in weeks
|
US-TECH Summary
Iranian nuclear scientist defects to U.S.
EU subsidies have encouraged overfishing: study
Kandahar is NATO's next Afghanistan challenge
Death toll rises to 11 in south Russian bombings
|
Some Yahoo email accounts hacked in China, Taiwan
Burglars tunnel into French bank vault
What, or who, killed the last mammoths?
sidesteps report of China hack of journalists' email
Toad is a telltale for impending quakes: scientists
Putin orders Moscow bombers scraped from sewers
|
Kijiji begone: EBay rebranding U.S. classified site
Obama wants Iran sanctions within 'weeks'
'.yu' country code domain for Yugoslavia finally obsolete
China uproar over dead babies dumped near river
|
Google says China's "great firewall" blocked search
Web attacks hit Vietnam bauxite activists: Google
|
U.S. seeks 4-month Jerusalem building freeze: report
|
Muslim scholars recast jihadists' favorite fatwa
|
Haiti hopes for $4 billion to rebuild after quake
|
Afghanistan world's top cannabis source: U.N.
|
Turkey asks Germany for help if EU bid stalls
|
US wants 4-month Jerusalem building freeze: media
Mexico gang leader 'confesses' in US diplomat killing
Iranian nuclear scientist defects to US: report
Iran can't continue 'mad' nuclear race: Sarkozy
Sarkozy aims to rekindle US ties in White House talks
Obama signs final healthcare changes, defends law
Five soldiers, 25 rebels killed in Pakistan clash
China drought leaves 24 million short of drinking water
Some Yahoo email accounts hacked in China, Taiwan
|
US, China change tone but disputes lie ahead
NZ moves to change divisive shore ownership law
Australian faces 15-year term in Bali drug case
Baruto becomes first Estonian 'ozeki' sumo wrestler
Taiwan auctions 30-yr govt bond at 2.23 pct yield
Seoul shares slip, post 0.6 pct gain on Q1
Chinese interest rules the auction world
China safety body says rules ignored in mine flood
Astronaut Aldrin still "Dancing," Doherty dumped
China blames poor safety for mine disaster
S.Korea c.bank's Lee calls for better relations with gov't
S.Korea military on alert after warship sinking
Two vintage L.A. theaters saved from closure
Google pegs China search trouble to 'Great Firewall'
US churches find no salvation from bad economy
Easter eggs may be good for you, study suggests
PAKISTAN
Michael Jackson's father plans wrongful death suit
|
Astronaut Aldrin still Dancing, Doherty dumped
|
Two vintage L.A. theaters saved from closure
|
Miley Cyrus all grown up in new movie
|
Suicide attack kills seven Afghan farmers: official
Eurozone inflation sharply up to 1.5%
Google says Vietnam political blogs hacked
Bomb attack kills 13 in crowded Afghan market
Suicide bomber targets police in new Russia attack
Zardari back in spotlight in Pakistan graft cases
|
Kandahar is 'cornerstone' of Afghan war: Mullen
German jobless rate drops unexpectedly
Ericsson wins $1.3 billion India deal
Afghan peace talks end with no headway, more expected
|
12 dead in new Russia suicide bomb attack
Putin to meet top U.S. foes in Venezuela
|
Iraq's Sadrists propose vote on PM choice
|
Divided Serbia apologizes for Srebrenica massacre
|
UK hung parliament risk up
|
3 trapped gold miners drown in Philippine tunnel
Rocket prepared for Soyuz space launch
Philippines defends record after EU plane ban
N.Korea's Kim likely to visit China soon: Seoul
Ford, Microsoft align to recharge cars
|
Google: Online attacks aimed at Vietnam critics
Georgia Sen. Isakson Readmitted To Hospital
Superman Sets Super Sale Record
Stabbings, Moscow Attacks Underscore Dismal State Of Security Cameras In New York Subway
Pre-dawn Pakistan violence kills 32
Insurance Companies Agree To Adhere To New Regulations
Man Commits Suicide By Jumping Off Empire State Building
Fugitive Thaksin continues global wanderings
University Travel Ban To Haiti Keeps Florida Students From Showing Film
CERN pushes Big Bang machine to new science frontier
|
Four Dead, Six Wounded In D.C. Drive-by Shooting
China official denies cutting off water to SE Asia
Man Shoots Wife's Dog, Passes Out While Trying To Bury The Animal
Australian "Ned Kelly" painting sells for record
Some Yahoo email accounts hacked in China, Taiwan
Miley Cyrus all grown up in new movie
Michael Jackson's father plans wrongful death suit
Taiwan and China discuss trade pact
Rip Torn exits rehab and pleads not guilty
Pakistan stocks gain, foreign inflows help sentiment
Ericsson wins $1.3 bln India contract
Singer Badu causes stir with nude video at JFK site
China's CNOOC says '09 profit falls 34 pct
Google service disruption bodes ill for Chinese
Ericsson wins $1.3 billion India deal
|
Sony to sell liquid crystal display plant to Kyocera
WRAPUP 1-South Korean president cements low interest rate view
China shares mixed after a 3-day rally
Tourist falls into active volcano crater on Bali
Philippines insists its airlines safe despite EU ban
Madonna and daughter collaborate on fashion line
|
Lady Gaga back atop UK album charts midweek
|
Stephen King puts the frights into baseball
|
Australian Ned Kelly painting sells for record
|
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights