Conservatives rate a hung parliament as an economic disaster

With the second of the three planned televised debates looming this week, and opinion polls showing an incredibly tight three-way race to the finish line between the main political contenders, parties are trying to separate themselves through various forecasts and statements. In line most recently, Tory MP Kenneth Clarke, who came out a day before the Sky News debate in Bristol to send a firm warning that a hung parliament would mean a financial disaster for Britain, leaving the country at risk of needing an International Monetary Fund bail-out.

Following the first television debate, of which outsider Nick Clegg was generally hailed as the winner, opinion polls have shown a surge in support for the Liberal Democrats, creating an even more likely perspective of a hung parliament come May 6th. This, says Conservative Ken Clarke, would be highly risky for the bond markets, causing the national currency and interest rates to reach dangerous levels. According to Mr Clarke, the lack of a government with majority support in the Parliament would send a worrying signal to the international market, possibly prompting the intervention of the IMF.

Tory rivals quickly stepped in to attack these claims, with the statements being characterized as “ridiculous”, “desperate”, “scaremongering” or a sign of panic at “losing the election”, by Labour and Lib Dems alike.

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