I hate to tell you I told you so, but I told you so. I said the only way the Conservatives would win a working majority in the House of Commons was for them to be radical. They weren’t, and now we have a hung parliament.
As I write, deals are being hatched. Tomorrow, the horse trading will start in earnest and the voters will definitely not get what they voted for. Despite all the frantic deals, agreements made will collapse like a deck of cards, and then an election will have to be called. Some commentators say we will all be visiting the polling booths within twelve months. I’m confident the next general election will be in the autumn.
There is a cost to the nation whilst this uncertainty is played out. The markets will not have confidence in the government. There could be a run on the pound. Billions are likely to be wiped of the value of shares. It will be difficult for the government to borrow more cash at a good interest rate. Britain will be heading down a Grecian road, marked cul-de-sac. Meanwhile, in a manner Nero would be proud of, our politicians will not tackle government debt, and will fiddle whilst the UK burns.
The voters are not happy with any of the parties, and have voted accordingly. With an unpopular prime minister, and the government finances in an appalling state, I think it is fair to say the Conservative Party has succeeded in snatching defeat from the jaws of victory.