On the 8th June, voters across the country went to the polls to elect their local MP.
The results have changed the makeup of the UK’s Parliament and Government. We have a hung Parliament.
Given this uncertainty the Greater Birmingham Chambers of Commerce will be working hard to represent businesses and press the urgent need for robust leadership and a rock solid approach to Brexit negotiations and domestic policy.
No one party has over half of the seats in House of Commons. This means that the Conservatives are faced with three choices: rule as a minority Government, seek to form a coalition or call another General Election.
Parliament will meet for the first time on the 13th June, the Queen’s Speech (which will introduce the new Government’s proposed legislative agenda for this Parliament) is scheduled for the 19th June. Brexit negotiations are also due to start on the 19th June. This means that there is a pressing need for confirmation of how the UK will be governed moving forwards.
For businesses this means more uncertainty. More “we don’t knows” that can make planning for the future difficult. This uncertainty is why we saw a fall in the value of the pound in immediate response to the result. It remains to be seen whether it will have an impact on investment and hiring decisions.
Many local businesses have already weathered the political uncertainty caused by Brexit and the original announcement of the General Election with positivity and confidence. Our Quarterly Business Report has been recoding record levels of confidence in recent months. We are currently collating the results for Q2 2017. This will help us understand the impact of this General Election result. You can take part here.
On a national level we will be working closely with the British Chambers of Commerce to take our message to the heart of Westminster. We will be championing the need for stability and creating the conditions that businesses need to flourish.
On a local level we will shortly be writing to all newly elected MPs in our region to share our General Election Manifesto and invite them to meet to discuss how we can work together to make the region the best possible place to do business and attract talent and investment.
Source: Turnout statistics - BBC News
Edgbaston: Preet Gill (Labour)
Erdington: Jack Dromey (Labour)
Hall Green: Roger Godsiff (Labour)
Hodge Hill: Liam Bryne (Labour)
Ladywood: Shabana Mahmood (Labour)
Perry Barr: Khalid Mahmood (Labour)
Northfield: Richard Burden (Labour)
Selly Oak: Steve McCabe, (Labour)
Yardley: Jess Philips (Labour)
Burton: Andrew Griffiths (Conservative)
Chase: Amanda Milling (Conservative)
Lichfield: Michael Fabricant (Conservative)
Tamworth: Christopher Pincher (Conservative)
Meriden: Caroline Spelman (Conservative)
Solihull: Julian Knight (Conservative)
Sutton Coldfield: Andrew Mitchell (Conservative)