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Jones Lang LaSalle Reaction to the 2010 General Election Result
London, 7th May 2010 – Jones Lang LaSalle’s Head of UK Retail Guy Grainger comments on the implications of the result of the General Election on the Uk’’s retail market, and the impact of no political party being able to form a majority government.
“Due to the stimulated economy and low interest rates, spending growth has returned in 2010, providing a much needed boost to the retail sector. However, the outcome of today’s election will cause a stalemate in parliamentary policy and is likely to cast doubt over the stability of two major indicators - interest rates and VAT. A hung parliament is unlikely to result in a short term increase in VAT; though it will highlight concerns over rising inflation and the likely need for interest rates to increase later in the year. What we need most now is a strong, decisive and determined government who can support the retail industry as we emerge from the recession, by protecting retailer margins and harnessing consumer expenditure.”
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