Conservatives short of majority. Tax and spending proposals likely to be delayed

Hung Parliament confirmed; small business fears heightened

For the first time since 1974, the UK has today woken to a hung parliament, something bound to disappoint many small business owners fearful of indecision of tax proposals.

The Conservative party have won the most MPs, though have come short of taking an overall majority.

Phil Orford from the politically neutral Forum of Private Business has this morning said: “I expect many smaller businesses will be disappointed that the election has resulted in a hung Parliament.

“However, 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.

“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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