Advisers back Labour/SNP coalition in hung parliament

Laura Miller
clock

Financial advisers across the country would prefer a coalition government comprised of Labour, the Scottish National Party (SNP) and Welsh national party Plaid Cymru over one formed by the Conservatives, Liberal Democrats and UKIP, according to a poll.

Website Panacea Adviser surveyed advisers during the two weeks leading up to election day on 7 May, when Britons cast their votes for who they want to lead the country for the next five years.

The results of the poll suggest advisers' support for a more left-leaning coalition is overwhelming in the event of a hung parliament where no one party wins enough of a majority to govern alone, with 90.5% preferring a Labour, SNP and Plaid coalition.

More than 650 visitors to the adviser website voted.

The Panacea Adviser poll results stand in stark contrast to an earlier similar survey carried out by COVER's sister title Professional Adviser in early April.

Though the Professional Adviser poll asked advisers which party they would like to see win the election outright, 79% expressed a desire for a Conservative majority government, with the Liberal Democrats pipping Labour into second place with 8% of the vote.

In the event of a hung parliament, of the around 100 IFAs and paraplanners who responded, 42% backed an eventual Conservative-Liberal Democrat government.

A coalition between Labour and the SNP was the second most expected outcome, with 18% of the vote, while a Conservative majority garnered 12%. An outright Labour win was picked by a single respondent.

A total of 650 Westminster MPs will be elected, with about 50 million people registered to vote. A majority requires 326 seats.

If nobody wins outright, David Cameron will stay as prime minister and is entitled to try to form a government. If he is unable to because he lacks support, he will need to resign and let Labour try. But all that could take around a month.

As well as the general election, there are more than 9,000 council seats being contested across 279 English local authorities.

More on Adviser / Broking

The psychology of insurance

The psychology of insurance

Understanding decision-making

Jaskeet Briah
clock 23 April 2024 • 5 min read
SimplyBiz pens partnership for advisers to tackle climate change

SimplyBiz pens partnership for advisers to tackle climate change

Net Zero Financial Adviser Protocol now available to members

Jaskeet Briah
clock 22 April 2024 • 1 min read
Rosemount appoints Contractor Financial as AR

Rosemount appoints Contractor Financial as AR

Advice for contractors and the self-employed

Jaskeet Briah
clock 19 April 2024 • 1 min read

Highlights

COVER Survey: Advisers damning of protection insurer service levels

COVER Survey: Advisers damning of protection insurer service levels

"It takes longer than ever to get underwriting terms"

John Brazier
clock 12 October 2023 • 5 min read
Online reviews trump price for young people selecting life and health cover

Online reviews trump price for young people selecting life and health cover

According to latest ReMark report

John Brazier
clock 11 October 2023 • 2 min read
ABI members with staff neurodiversity policy nearly doubles

ABI members with staff neurodiversity policy nearly doubles

Women within executive teams have grown to 32%

Jaskeet Briah
clock 10 October 2023 • 3 min read