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Confidence in the UK economy has been hit

Even though there were signs that the UK retail sector was starting to improve at the end of 2009, today's news of a potential leadership challenge against Gordon Brown may well wipe away any goodwill and confidence built up over recent weeks. A government which is effectively out of control and a leader who would appear to be unwanted by a significant minority of MPs does not bode well for the short term.

As we have mentioned on numerous occasions, confidence is a major factor in any recovery in the UK economy with consumers playing a vital role. It will be interesting to see how the Labour Party share of the vote holds up over the next few days and indeed whether voter confidence in the UK government begins to evaporate. Despite the fact that nobody is yet suggesting we could see a snap election, there is no doubt that the rebel Labour MPs are looking to force an issue which has been on the backburner for many months.

The Conservative party has been very quiet today because ultimately Labour MPs are doing the work of Conservative activists by highlighting massive splits within the Labour party. The next 48 hours are vital for Gordon Brown's future as leader of the Labour Party and the UK government.

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