The result of this by-election for a new member of parliament was announced a few hours ago and saw the Coalition-partner Liberal Democrats retain the seat of Eastleigh by a majority of 1771.
This was a very good result for the Lib Dems, despite having their market share cut by 14%, and a huge sigh of relief for their leader Nick Clegg who’s been under attack of late. But it was an awful result for the Conservative and Labour parties with UKIP ( UK Independence Party ) beating them to second place with a swing of 24% in their favour.
This is particularly important given PM Cameron’s recent promise to hold an “in-out” referendum on EU membership should they win the next general election, and comes hot on the heels of a recent poll showing that one in three UK citizens favour getting out of Europe.
This result will have real consequences for the Conservatives and PM Cameron, who will face increasing pressure from his own party to deal with the ever-advancing UKIP party which could be a real vote splitter come the general election . Labour party leader Ed Miliband has also been found wanting at a time when his party should been expected to show far more strongly in this vote.
We’ve had little reaction in the Pound which is only to be expected but I do feel that the by-election outcome may well have far-reaching effect in the UK further down the line, as I’ve outlined above. Certainly a slow-burner to keep an eye on.
