Speaking in response to the news that a snap election will be called on June 8, James Sage, Head of the Corporate Department at FBC Manby Bowdler, sought to reassure businesses:
“The announcement that we’ll be going back to the polls in a little over seven weeks’ time undoubtedly took many by surprise, however, businesses should not be overly concerned with the implications of this.
“Whilst elections can lead to uncertainly and a lack of confidence in the economy, the key reason behind this decision undoubtedly lies in the fact that Theresa May is keen to secure a greater majority than the government currently holds. This will, in turn, allow her to become less reliant on the Eurosceptics within the Conservative Party and assuming she does win, the Prime Minister will be well placed to deliver a softer Brexit which is likely to be welcomed by the economic system.
“Let’s also not forget that overall the economy is in a better place than many anticipated it would have been in the immediate aftermath of last summer’s referendum and a softening of the Brexit negotiations could further strengthen this.”