As soon as the weekend Opinion Poll showed more Labour support, the Markets took fright and the cost of Government borrowing went up as interest rates rose. For months, the Government has been shielded from the true state of business confidence in their abilities, because the assumption has been that the Conservatives will win and rein in Labour waste and overspending. The Opinion Poll showing just a 2 point lead has shaken them out of this cosy complacency. Now we see the professional investor’s view of Labour – disastrous! Several papers pick up on Ken Clarke’s warning yesterday that a Labour election victory would panic the markets and hammer the Pound. In the Mail, a leader explains why the markets don’t trust Labour. Ken is right to point out the blunt realities. Experts investing funds for their clients including pension funds know that this Government has spent and borrowed even when the economy was doing well. Now there is not enough money left, they are printing extra money to pay for their borrowings. It is like the person maxed out on their credit card simply getting another card and another card. Borrow, borrow, borrow…print money, print money… borrow, borrow is the road to national ruin. It is the historic Conservative mission to save the day after a period of Labour recklessness and we can rein in spending, achieving better value for the taxpayer’s money, without damaging front line services. Britain can’t stand another 5 years of Gordon Brown’s Labour.
Markets take fright at Labour Opinion Poll