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Property & Financial Markets Need Definitive Election Result

May 10, 2010

Teachers Building Society hopes that a robust agreement between the political parties is reached following a historic night in British politics.

The uncertainty generated by a hung parliament is unsettling for the property and financial markets and the Wimborne-based mutual is eager to see a definitive outcome so that the economic recovery can continue.

Chief executive, James Bawa says, “What we need is stability and decisive action. Elements of all three of the main parties’ manifestos were encouraging to us, particularly the support for mutuality, and the contribution building societies make to a strong, vibrant financial services sector. Our economy needs a resolution to this election soon as anything else could be destabilising.”

While the political landscape remains uncertain for the time being, savers & borrowers will be hoping that, whatever the composition of the new government, parties will live up to their manifesto commitments.

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