ELECTION: Business reacts to Conservative win

‘Certainty’ is the key word for business after the Tories’ success in the General Election

Friday, 13th December 2019, 2:34 pm
Toby Harper, CEO of Harper James Solicitors.

Toby Harper, CEO of Harper James Solicitors, said: “Regardless of what we think about Boris Johnson and the Conservatives I think this represents a good result for business.

“At least we now have some immediate certainty around Brexit and I suspect this will be reflected by the market performance of the pound between now and the end of the year. I think the certainty on taxation will help businesses.

“The further reduction in Corporation tax has been withdrawn but at least we’ve been assured and other taxes will not be increasing. There is also the promise of a series of tax cutting measures. It will be interesting to now see what that will do for business. Hopefully it will incentivise investment in growth in the region.

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Jillian Thomas, managing director of Future Life Wealth Management.

“I think many businesses in Sheffield will now feel a sense of relief that finally we can all get on with running and growing our businesses without the constant distraction of the shambles of parliament.

“Yes, there will be challenges ahead but the thing that businesses hate more than anything is uncertainty. Hopefully we will now see an injection of more confidence that the economy will grow from here. This will allow all businesses to re-look at forecasts and plans for growth and deploy contingency funds in a way that will boost their growth, employment and have a positive impact on our local economy.”

Jillian Thomas, managing director of Future Life Wealth Management, says “hiding in a fridge is not an option and it’s time to deliver.”“On the exit polls, sterling rose by two per cent in less than three seconds, a clear indication that the iinvestment markets were bouyed by the seismic results of the General Election.

“The FTSE 100 on open rose by nearly 1 per cent, with the FTSE250 higher by over 4 per cent and have for some time been undervalued and owned. The clarity of direction will allow the deloyment of corporate accumulated cash for investment and merger and acquisitions This is positive news for investment returns in the medium/longer term, however we need to be aware that volatility could increase back to normal historic levels.

“Business now has the clarity that the UK will leave the EU by the end of January and gives corporate leaders ability to make decisions and deploy the cash retained because of political indecision. But this is just the start, which of the 50 shades of Brexit we will end up with?

"The promisary notes given to the region to support the local economy need to be followed through and must lead to rapid distribution of investment for regional transport/infrastructure projects and support of the local economy. Hiding is fridges is not an option, it is time to deliver!”