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Consumer confidence falls as the election approaches

The Nationwide consumer confidence indicators have shown a significant fall in March with consumers concerned about the up and coming election and changes in the tax regime. The index posted its largest monthly fall since July 2008 which is something of a bitter blow for the UK government which is aiming to show an economy on the up and consumer confidence following behind.

There is no doubt that the election has caused concerns amongst UK consumers with the threat of a hung parliament in the air. The Liberal Democrat party could well become the "kingmaker" in due course although there are hopes within the Conservative camp that support will pick up ahead of the election as voters begin to understand the potential implications of a new Labour government or a Labour and Liberal Democrat alliance.

The Labour Party has recently been suggesting that voters should vote tactically in so-called swing seats where potentially Labour or Liberal Democrat candidates could fight any Conservative threat. This is a high-risk strategy because ultimately it shows a weakness in the belief of both parties in their own candidates and could be reflected in voting patterns. There is certainly all to play for at the next election no matter what the experts say!

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