Region responds to election result
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A cold December morning was the backdrop for what Boris Johnson referred to as the “new dawn” for the country after he led the Conservative party to a historic General Election win.
The response to the Tory party securing its largest majority in a generation, was the pound rising to its highest level since May 2018, while the FTSE 100 share index and the FTSE 250 rose increased by 1.5% and 4% respectively. This on the hope of a clear majority enabling Brexit uncertainty to be cleared.
In the region the business community has been commenting.
Andy Wood at Grant Thornton in Leeds, said: “The election result provides a welcome degree of clarity for business. A strong majority government with a five-year parliament provides stability for business investment in the UK.”
Roger Marsh OBE DL, Chair of the NP11 Board and Leeds City Region Enterprise Partnership, said: “On behalf of the NP11 I would like to congratulate the Prime Minister on his election. Now we have a Government, it is more critical than ever that the Manifesto for the North remains firmly on the national agenda so that we can ensure the North can deliver for our country.
“As we move on from Brexit, NP11 and the Convention for the North have set out a roadmap to rebalance the UK’s overcentralised economy. With the support of our businesses, Northern leaders of all political stripes, and Government, we will continue to make the case for levelling-up investment to this region and focusing especially on connectivity, trade, and the North’s role in leading a green industrial revolution.”
Johnny Caddick, Director at Caddick Group, commented: “This result – and the political need to now fully support the North with world class infrastructure – will bolster confidence in regional economies which will enable more capital to flow into housing.”
Lord Jim O’Neill, Vice-Chair of the Northern Powerhouse Partnership said: “Given the nature of how the Tories achieved this victory, as well as a mandate to get Brexit done as the PM has enjoyed saying throughout his campaign, presumably he will follow through on his pledges to help rebalancing the country’s economy and focus on improving the infrastructure of the country, boosting the education and skills needed to transform those areas left behind, which means voters in the North and Midlands will be boosted by their electoral support.”
Stuart Cottee, Practice Senior Partner for Yorkshire and the North East at Deloitte said: “The return of a majority government provides an important opportunity to focus on the post-Brexit challenges the country faces – unlocking business investment, strengthening the building blocks of the economy, improving skills and raising social mobility.”