Pound surges following shock result in UK General Election

The pound surged and London’s blue chip index raced ahead following the shock result in the UK general election which looks likely to return David Cameron to Downing Street with a majority.

The FTSE 250 index - a broader measure of the UK economy - reached an all-time high as bookmaker Ladbrokes leapt 9%, as did house builders Countrywide and Berkeley and Savills and Foxtons, the estate agency chains.

Savills predicted a release of pent-up demand in the top end of the housing market, given that Labour’s mansion tax would not be introduced.

Sterling registered its biggest jump against the US dollar since 2009, while shares in banks, energy companies and house builders all fuelled a rise in the FTSE 100 as the prospect of a Labour government evaporated.

But what about you and SME’s in general?

Do you feel the same boost of confidence surrounding the results and how they will affect your business? How do you think it will it affect your customers and their behaviour?

Are you more or less confident about the future following the election?

Tweet us now @OmnitasTax or join in the conversation on Facebook – of course, if you have any queries regarding your business taxation or accountancy affairs then we are here to help. You can request a free of charge call back from our website or click here to contact us now for a free, impartial initial chat.