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Equities equable as gap fears grow

The investment industry says the re-election of Labour will not make much difference to equity markets but is encouraging the Government to address the savings gap.

Gartmore senior investment manager Brian Gallagher says the general election is of limited relevance to equity investors, with only a hung Parliament ever likely to provoke a significant reaction in UK markets. Research by Gartmore shows 39 per cent of private investors are ambivalent over who is in power and their relationship to the economy while 30 per cent think Labour’s third term will have a positive effect on the economy and 29 per cent feel it will prove negative.

Fidelity managing director Richard Wastcoat says the Labour victory has had little impact on markets. He is more concerned that over one in four people have no savings and says looking at ways to encourage people in this country to save should be at the top of the political agenda.

Needanadviser.com director Ashley Clark says: “I do not believe that pension simplification is going to defuse the demographic timebomb. The Government needs to invest in grassroots education to avoid the future burden in terms of tax.”

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