You are here: Home - Investing - Experienced Investor - News -

Political risk fears grow as UKIP wins second parliamentary seat

0
Written by:
21/11/2014
UKIP has taken a second seat in Westminster after winning the Rochester and Strood by-election, adding to concerns over the outcome of the general election next year.

The party defeated the Conservatives by 2,920 votes, securing a second seat in parliament for Mark Reckless, after winning its first seat just last month.

He collected 42.1 per cent of votes in the poll, while Conservative rival Kelly Tolhurst lagged behind with 34.8 per cent of votes.

The newly elected MP said the win proves UKIP could win the general election next May and party leader Nigel Farage (pictured) described the win as “massive”.

Last month, M&G’s bond veteran Jim Leaviss warned of the growing possibility UKIP may end up in a coalition government after the election next May, following its successful win of the first parliamentary seat.

Official polls conducted in October pointed to increasing support for the UKIP party, with data from the Guardian suggesting it could win as many as 30 constituents in the election next year.

Leaviss warned the results of the election could cause a sterling crisis: “This time it may be politics that will cause a sterling crisis. I think politics will be much more important for the UK in terms of markets and currencies than it is typically.”

Meanwhile, multi-asset managers have begun reducing their UK equities exposure on expectations the upcoming election could cause further market turbulence and deter foreign investors from allocating to the UK.

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Autumn Statement: Everything you need to know at a glance

Yesterday Chancellor Jeremy Hunt made his first fiscal statement in the role, outlining a range of tax measure...

End of Help to Buy: 10 alternatives for first-time buyers

The deadline for Help to Buy Equity Loan applications passed on 31 October. If you’re a first-time buyer who...

Moving to an energy prepayment meter: Everything you need to know

As households struggle with the soaring cost of energy, tens of thousands of billpayers are expected to move o...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week