View more on these topics

Election creates a hung Parliament- two IFAs fail in MP bids

The general election has resulted in a hung Parliament with the Conservative Party gaining the biggest number of seats but not enough for a majority.

The Tories have won 306 seats compared to Labour on 258 and the LibDems on 57.

Two IFAs, Philip Milton and Deborah Dunleavy, have both failed in their attempts to become Conservative MPs. Milton came second to the LibDems in North Devon, who won with a 5,821 majority, while Dunleavy came second to Labour in Bolton North East who won a 4,084 majority.

Meanwhile, Conservative Shadow pensions minister Nigel Waterson has lost his Eastborne seat to the LibDems on a 4 per cent swing. Waterson had been an MP since 1992 and has recently been spearheading the Conservative Party’s concerns regarding the introduction of personal accounts.

Royal London head of corporate affairs Gareth Evans says: “It is a real shame we are losing Waterson from the pensions debate – he is the only one who really knows all the details of the current system and the changes being proposed. If there is a Tory Government it will be very difficult for a new member to come in and pick up Waterson’s former role.”

Aviva head of public affairs Tracey Crouch has become the Conservative MP for Chatham and Aylesford, gaining the seat from Labour on an 11 per cent swing.

Ed Balls, a likely candidate in a future Labour leadership election, clung on to his Morley & Outwood seat with a majority of 1,101 on a 9 per cent swing to the Tories.

Brown was back in Downing Street this morning and used his acceptance speech in Kirkaldy last night to try and open negotiations with the LibDems regarding a possible coalition. He called for “far reaching reform to our political system -on which there is growing consensus”. However even a Labour/LibDem coalition is likely to fall short of commanding a majority in Parliament.

Conservative leader David Cameron says Labour has “lost its mandate to govern”. Speaking after holding his Witney seat, he said: “Whatever happens tonight we will stand ready to do all that we can to help bring that leadership, to help bring strong, stable, decisive and good government for our country.”

Lansons public affairs director Ralph Jackson says: “It will be the Labour politicians that determine what we are going to end up with this morning. But the clock is ticking on a second election, it may be 12 months, it may be 18 months. The big question is what kind of government can be formed, for how long and whether it can gain confidence.”


News and expert analysis straight to your inbox

Sign up


There are 3 comments at the moment, we would love to hear your opinion too.

  1. A huge swing to the Tories – but just short of the majority.

    Clearly those dependent on the welfare state and in prison could be bothered to do something yesterday (let’s hope they start making a habit of it).

  2. bob

    Along with those sitting in the House of Lords, those staying in one of Her Majesty’s hotels cannot vote.

    As for those drawing benefits – I doubt they could drag themselves away from the Jeremy Kyle show long enough to get down to the polling station…

  3. My apologies Syd – I refer to the 80,000 prioners Brown released. As for those on the welfare state – I think fear of having to work is enough motivation.

    I can see no reason that anyone would vote for Brown – an utter failure during his entire tenure as Chancellor and PM – aside from those on benefits, or blindly wearing a Labour shirt like it is the local football team.

    Brown has almost bankrupt the Country – and yes it is his part. He has encouraged spendthrift behaviour and sold the illusion that borrowing makes you wealthier!!!!

Leave a comment


Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm