Hung Parliment UK Elections

Well I said I would report back when the UK Election results were in and they are all but in now and I have to say that the predictions were almost exactly right.

The results as they stand show no clear winner by majority. David Cameron and the Conservative Party have at the time of writing 306 seats, Gordan Brown and the Labour Party have 254 seats and Nick Clegg and the Liberal Democrats have 54 seats. There still a few more constituencies to declare their results but not enough to change the over all standings and not enough to give David Cameron a majority.

So the UK now has a “Hung Parliament” and the horse trading has already begun. Gordan Brown has stated that the door is open for Nick Clegg to come and talk to him, whilst less than 40 minutes later in a televised statement David Cameron told the world that he was already in conversations with Nick Clegg. So now the games begin, it is widely speculated that ultimately David and Nick will join forces to form a majority government as long as some of the major manifesto differences can be ironed out and compromises reached.

The markets are not reflecting at the moment the unstable nature of this situation but this will only be the case for the short term until something solid is decided.

In the mean time because there is no majority government Gordan Brown as incumbent is entitled to stay put if he so wishes.

I’ll bring you more news as and when an outcome is reached.