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Hung Parliament could stall economic recovery

By / 11 years ago / Latest News / No Comments

The Forum says it believes SMEs are crucial to Britain's economic recovery, with the potential to create jobs and spearhead innovation. But the not-for-profit organisation is concerned that the uncertainty and confusion caused by a hung Parliament will jeopardise this and hamper business owners' attempts to plan ahead. 

Recent Forum research found that almost three quarters (70%) of small business owners were already finding it difficult to plan for 2010, even before this morning's general election result. With a hung Parliament potentially threatening to hold up tax and spending proposals aimed at tackling Britain's record deficit, this uncertainly is likely to increase further.

Forum chief executive Phil Orford said of the election result: 'The outcome can't be changed so it is vital that the newly elected MPs put aside party politics and work together to come up with a credible system of governance.

'With the economy still in a very precarious state and a mountain of public debt to be tackled, businesses owners need our elected representatives to move away from inter-party point-scoring and show political responsibility.'

Mr Orford added: 'Small businesses are the lifeblood of UK Plc. I would urge all the political parties to do everything they can to come to a swift, workable consensus in order to secure the prosperity of Britain's SMEs and the wider economy.'

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