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Hung parliament "worst possible result" for industry

Industry leaders call for stability following election results

Industry leaders are calling the general election outcome the “worst possible result” for the industry, saying the incoming government must bring stability and support to businesses.

The Conservatives were returned as the largest party but failed to win enough votes to form a majority government, resulting in a hung parliament. Labour made unexpected advances, picking up more than 30 seats.

Dale Parmenter, CEO of drp Group, said: “Given the election result this morning, it was the worst possible result and just adds to the instability and uncertainty.

“Politicians need to stop their petty squabbling, get real and realise that the only source of income for the UK to pay for social care, education and alike comes from business and trade.

“They need to protect and look after important sectors like ours, which pumps billions of pounds into the economy and employs vast numbers of people. My hope is we don’t see a further drop in confidence, adding to a slowing down of our sector.

He added that above all, there must be clarity regarding how the government will handle the impending Brexit negotiations.

He said: “We need to maintain ‘business as usual’ and ensure that we do not hyper-inflate this morning’s results.”

Rick Stainton, MD of SMyle, said: “There’s so much uncertainty, that’s not good for forming a government or Brexit positioning. It looks like Brexit will have to be delayed. I wouldn’t be surprised if it’s pushed back.

“When they do have that clarity then Brexit negotiations will have to take a softer stance. You can’t go into the Brexit talks without a mandate. That could be a good thing, as a softer Brexit could be good for the industry. It’s potentially less damaging to certain trades.”

Charlotte Wilson, MD of Pure Events, said the events industry needed a stable government.

"I'm very disheartened by the result, but clearly Theresa May's campaign was ill-considered and was out of touch with the people of Britain," she said.

"What we do need now in the UK is stability and the thought of Corbyn getting anywhere near number 10 for me is utterly incredulous as he is just not a tenuous choice in my mind. This is a reaction clearly to the Brexit vote and the country not wanting a hard exit; it will be interesting to see how things pan out and how she claws back support."

Rosalind Shelley, business development director of Story Events, added: "It's hard to predict what this result will mean for the industry as a whole, but if we can take the results as a marketing example it shows that engaging with people face to face seems to be more important than ever in really inspiring people in this digital age, which is why live events are becoming a more and more essential part of the marketing mix."

Business Visits and Events Partnership (BVEP) chair Michael Hirst OBE said: "The priority for any new government will be protecting and growing the economy and business. The events sector has a major role to play in this. Whoever is in power, there's no reason why the good work of the Events Industry Board should not continue by advising government on the ways in which the value and volume of events held in Britain can be expanded. Industry representation through the BVEP will continue to focus on post Brexit growth opportunities. We hope James Heappey will resume his role in the All Party Parliamentary Group for Events and Nick de Bois will continue to lead the Events Industry Board."

  • Anonymous user 13/06/2017

    I think Charlotte Wilson of Pure Events should keep her political opinions to herself if she wants to maintain any business. I certainly wouldn't place any business with her company expressing her naïve and ignorant biases quite so explicitly. Not very professional at all. We should expect a rather more grown up approach from our businesses.

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