The UK election is today, Thursday, 4 July 2024.
The Labour Party is set to win in a landslide.
This via Goldman Sachs, in summary (from a much longer piece) of the economic outlook under the new government:
- Taken together, we would look for slightly stronger near-term growth and slightly higher inflation under a Labour majority than current government plans.
- In particular, we would see a growth upside of about 0.1pp in each of 2025 and 2026, which would likely marginally increase wage growth and inflation.
- The implications for the BoE would likely be limited, but with risks of slower rate cuts if Labour delivered a sizeable increase in the Living Wage.
