Tories are the best bet for our industry
Posted on April 26th 2010
With the election campaigns in full swing it feels like a good time to air my views about which party is likely to serve the mortgage market the best.
I have Labour comfortably in third place as there is no logic that can convince me that the party will do anything different in the future than it has done in the past. Labour’s inability to put forward a concrete plan as to how we pay off our national debt is seriously concerning. The fact that their new buzz words are ‘new politics’ says it all.
Nick Clegg’s performance on TV last week was pretty impressive and a jump in the polls reflects that, but I can’t see much that suggests that the Lib Dems will do anything useful for the mortgage market and being good on TV doesn’t necessarily mean that he will be good at leading the country. However, I think Vince Cable is very credible and if he was willing to become a Conservative he would make a great Chancellor.
I put the Conservatives in the lead as far as the mortgage market is concerned for one main reason and I believe it is the No1 issue. A credible plan to pay off our national debt is mission critical; unless we convince the IMF, the rating agencies and the international community that we have this under control the chances are that our international credit status will come under pressure. This will lead to an inevitable and uncontrolled increase in interest rates and as I have said before, the two big things that we should be worrying about are interest rates and unemployment.
