General Election 2015: Regional businesses hold their breath

THE country is going to the polls today with the outcome of the General Election is expected to be a close run affair.

As opinion polls suggested neither of the two big parties, Conservatives or Labour, would  win an outright majority of 326 seats, it may well be several days before the composition of the next government takes shape.

After five years during which the Conservatives and Liberal Democrats proved that coalitions can be effective (or at least endure) – it sees highly probably that another is on the cards.

Several unknowns are also in play – how much damage the Scottish Nationalists will do to Labour north of the border, what impact UKIP will have on the Conservative vote, and whether the Liberal Democrats’ support will hold up.

If, as expected there is a hung parliament, as there was in 2010, there will be a flurry of meetings behind the scenes as Labour and the Conservatives try to pull together either a coalition or a look to run a minority government with the support of smaller parties such as the Greens, or Northern Irish parties.

Frustratingly for businesses and the wider electorate, matters could drag on for some time. According to guidance from the Cabinet Office, the first deadline for negotiations is Monday 18 May, when the new Parliament meets for the first time.

The economy was at the centre of a long and largely insipid campaign, while the Scottish Nationalist Party’s influence on the balance of power in Westminster, was another dominant theme.

For businesses economic stability and clear policies to support growth and investment are essential.

Whatever happens at the polls today, a speedy resolution is the least we should hope for.