Could This Be the U.K.'s Worst Election Ever?
Mar 18, 2015 10:06 AM EDT
By The Editors
Pity the fiscally responsible, socially tolerant British voter, a believer in openness to the world and its markets, who is looking for a party to support in the U.K.'s national elections on May 7. There are no good options.
Wednesday's annual budget release marked the start of campaigning in earnest, pitting Conservatives' claims that without them economic recovery will collapse in a flood of deficit spending, against Labour's warnings of impending doom for the nation's health and other services. Both claims are familiar, but in this contest the usual certainties of the U.K.'s ancient two-party democracy won't apply. Many outcomes are plausible: Choose from a variety of coalition or minority governments led by either Labour or the incumbent Conservatives. All they have in common is that none of them is any good.
The Conservatives, driven by their isolationist wing, have promised a referendum by 2017 on leaving the European Union. Having cracked open the EU's exit door, Prime Minister David Cameron has said he hopes to close it again by campaigning for the U.K. to stay -- but only if he has first "reformed" the EU. The trouble is, the EU may not want to be reformed at the U.K.'s direction. Most business leaders think leaving the EU would be bad for the country, and they're right.
Worse, the Tories are unlikely to get enough votes to rule alone. They might have to cut a deal with the surging U.K. Independence Party. UKIP is fanatical about leaving the EU, as well as anti-immigrant to the point of paranoia. Its leader, Nigel Farage, has expressed admiration for Russian President Vladimir Putin. Enough said.
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http://www.bloombergview.com/articles/2015-03-18/could-this-be-the-u-k-s-worst-election-ever-