Tories suffer local election pain, but may win London
The electoral consequences of implementing austerity are becoming apparent to the Conservative party this morning after it received a pistol-whipping in local elections across the UK.
The electoral consequences of implementing austerity are becoming apparent to the Conservative party this morning after it received a pistol-whipping in local elections across the UK.
Elections have taken place across the country although counting in Scotland only began at 09:00. In the closely watched London Mayoral elections, counting was also due to start this morning but was delayed by a power cut - on the basis of polls yesterday London could be the Tories' main bright spot with Boris Johnson expected to beat the challenge of Ken Livingstone.
In the results available so far, the share of the vote in England was split Labour: 39%, Conservative: 31%, Lib Dems: 16%. Other parties took the remaining 14%, with the anti-EU UK Independence party taking a record 13% of the vote in the areas where they stood.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
David Cameron's Tories have lost nine councils with four (Great Yarmouth, Dudley, Plymouth and Harlow) falling directly under the control of Labour.
In England Labour gained a total of 22 councils, while holding the 28 they already controlled, in Wales the party took a further seven.
A further blow for the government was the rejection of a proposal for directly elected mayors in Coventry, Bradford, Nottingham and Manchester.
BS
-
FTSE 100 hits record highs – why is it rising and will we see more gains?
Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
By Marc Shoffman Published
-
How to invest in copper
It may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
By Dominic Frisby Published