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April 26, 2010    

BCC survey finds firms fear hung parliament

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by Kay Murchie

A survey conducted by the British Chambers of Commerce (BCC) has found that firms are fearful about a hung parliament after the general election.

A hung parliament (in which no one political party has an outright majority) would make it harder to pass legislation and undermine a fragile UK recovery.

Firms are worried about the potential impact on their business if there is no clear winner and the survey found that 65% of 300 firms questioned were either “concerned” or “very concerned”.

Just 13% of companies polled said a hung parliament could be “a good thing” for their business.

Commenting on its research, BCC director-general David Frost said: “Businesses are right to be wary about the prospect of a hung parliament.

“Instinctively, companies prefer a clear mandate to lead and govern,” he added.

“Whatever the outcome of the election, whether we have a coalition government or not, we must see a credible plan to reduce the deficit and restore confidence within 90 days.”

The findings come shortly after the Centre for Business and Economic Research cautioned that financial markets could go into “full-scale crisis” in the event of a hung parliament.

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