Unhedged
What elections in France and the UK mean for markets
Jul 9, 2024
FT's economics commentator Chris Giles discusses the impact of recent elections in the UK and France on global markets and finance. The podcast delves into the changes in government, economic strategies, market implications, and the importance of trust in politics. It also explores portfolio diversification, caution with election polls, and the role of the European Central Bank in stabilizing financial markets.
23:06
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Quick takeaways
- Recent elections in the UK led to a centre-left Labour government, while in France, left alliance shifts parliamentary seats.
- The reliability of opinion polls in predicting election outcomes is debated due to inaccuracies and voter turnout impact.
Deep dives
UK Political Changes and Financial Policies
The podcast discusses the recent political shifts in the UK, highlighting the election of a new Labour government and the appointment of Rachel Reeves as the first female Chancellor in 800 years. Reeves has been actively implementing changes in planning regimes to boost housing construction and infrastructure projects. However, questions arise about the government's long-term fiscal responsibility, given its stance on tax increases and debt reduction. The episode explores the potential challenges the new government may face in balancing its ambitious policy agenda with financial prudence.
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