Hung parliament - what next?

It’s the worst possible result for the city and financial services. The only thing that has resulted on the morning after the 2010 general election is a whole host of unanswered questions and uncertainty, which could well result in paralysis at the heart of Westminster. The Conservatives will be the largest party and David Cameron has already claimed that Labour has lost its mandate to govern.

The Liberal Democrats have polled appalling despite consistent momentum throughout the campaign, but could well retain a king-making role as the deal making and negotiations begin. The timing is bad too. Overnight the global markets took a battering and any plans to introduce financial reform and the kind of strong leadership needed to push it through looks set to be hindered by the hung parliament.

The big questions now; Who to lobby? Who will regulate? What will change? What it means for sensitive legislation? And what exactly does it mean for your clients? These are the questions that many business leaders are waking up to this morning. The hope is that some kind of resolution is reached quickly and amicably and before uncertainty turns to crisis and contagion.

For more, click: General election latest.