City Investors Back Conservative's Plan to Stimulate Economy
LONDON, December 21, 2012 /PRNewswire/ --
- 62% of leading fund managers believe that the Conservative party has the most credible plan to boost the economy
- 83% of respondents believe that Labour's plans to boost the economy are weak
- 67% of respondents believe that the Coalition Government is tackling the economic crisis successfully
New research from leading spread betting and CFD provider, Capital Spreads, has found that the majority of City investors believe that, out of the big three UK political parties, the Conservative party has the strongest and most credible plan to stimulate the economy and are the best party to lead the UK from recession to growth.
According to Capital Spreads' Capital Perspectives Survey conducted in November 2012, which polled fund managers from 200 of the City's major investment houses, with collective assets under management in excess of $10 trillion, almost two thirds (62%) of respondents believe that the Conservative party are the party best equipped to deliver on their pledge to stimulate growth of the UK economy. The Conservatives economic policies were conspicuously the most well-regarded, with both Labour and the Liberal Democrats being seen as weak and ineffectual by comparison. 83% of respondents branded Labour's growth plans as "weak" along with 82% conferring a "weak" rating on the Liberal Democrats. Some investors went even further, with almost a third (32%) of respondents calling Labour's economic growth plans "very weak".
In addition, investors appear to believe that, despite the economic challenges facing the UK and the double dip recession seen earlier in the year, the Coalition Government is managing to address the economic challenges, with two thirds (67%) believing that the Coalition is implementing a credible plan to tackle the "economic crisis". This flies in the face of heavy criticism from Ed Balls at this year's recent Labour Party Conference, where the Shadow Chancellor claimed that the Coalition had no plan and no idea how to address the nation's economic woes.
Angus Campbell, Head of Market Analysis at Capital Spreads, said: "It comes as little surprise that the Tories are seen as the most pro-business political party but when asked to choose between red, blue and yellow the choices really are uninspiring and fund managers have sided with the best choice from three bad options. A pro-business government would not be fiddling around with token attempts at banking reforms in order to appease a few floating voters, but should be cutting business considerable slack especially during these tough economic times.
Certainly what is clear from these results is that the City has not forgotten or forgiven the previous Labour Government for captaining the ship when it not only run aground, but hit every iceberg in the ocean before sinking to the murky depths of the sea, the price of which we are all still paying for today."
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SOURCE Capital Spreads