Charlie Whelan has given an interview to Will Straw’s pro-Labour Left Foot Forward blog. Worth a read.
He claims the Tories are carrying out an anti-union “witch hunt”. Read more >>
Nomura bank have kindly pulled together this excellent chart of stock market reactions to the past nine elections. Most striking is the 18 per cent plunge in UK equities following the 1974 hung parliament. We’ve heard a lot about these political risk haunting the capital markets. But equities are also one to watch, particularly given the bullish turn of late. Nomura tell their clients there is a 35 per cent chance of a hung parliament. For some it will be good reason to follow the old adage ‘sell in May and go away’.
Mea culpa. I missed the most interesting angle on the Stalybridge and Hyde selection yesterday; the exclusion of James Purnell’s anointed successor, Johnny Reynolds. He is now back on the shortlist after an intervention by both Purnell and Lord Mandelson.
Mandelson’s action re-opened the shortlist. Or so Tom Watson (who is heavily involved in the selection procedure) has said in a statement to The Times, adding, curtly: “I know of no rule that allows for an appeal once the panel has decided the shortlist.” Another rejected candidate, Glyn Ford – ironically from Unite – is now also seeking an appeal. Read more >>
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