Is there scope for fallout in the coalition?
The Queen's speech yesterday saw a variety of different acts and comments which have caught the eye of many financial experts this morning. However, it is the absence of a timetable for political voting reform which many believe could undermine the coalition in the short to medium term. There is also talk that the Conservative party appears to be winning the tax debate with suggestions of "lower taxation" in the future.
In reality, much of the Queen's speech had already been leaked to the press and there were few surprises in the actual speech itself. There is no doubt that the main problem at the moment is the budget deficit which needs to be addressed as soon as possible as well as a significantly weakened financial position for the UK as a whole. It seems as though David Cameron has "hit the ground running" but there is speculation about the potential for unrest within the coalition.
Many experts are waiting for the "honeymoon period" for the Conservative/Liberal Democrat coalition to end and internal bickering to begin. This will be the last thing that the UK economy needs at this moment in time and there are hopes that David Cameron can in some way at least keep the coalition together for the next 12 months.
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