Businesses have more faith in the two main opposition parties to drive the economic recovery than the present government, but no party has yet emerged as a clear frontrunner, a new poll has found.
The survey by business analysts Lindsell Marketing polled more than 1,000 businesses of different sizes from across the UK.
When it comes to perceived economic competence, UK businesses place the
Conservatives and the Liberal Democrats on a par, significantly ahead of
Labour, the research found.
When asked which of the three main political parties they felt were most likely to give businesses the kind of intelligent support needed to enable a lasting economic recovery, the Tories came out on top with 30% of the vote.
The Liberal Democrats came a close second with 27%, while just 17% of businesses thought that Labour was most capable of bringing the UK back to strong economic growth.
However, the remaining 26% thought none of them were competent enough to manage the recovery successfully.
According to Lindsell Marketing, the poll shows evidence of the ‘Clegg effect’ (the recent surge in Liberal Democrat support in opinion polls following Nick Clegg’s strong performances in the leaders’ debates) on business. The analysts said the Conservatives had a clear lead when the same question was asked in a survey back in December 2009 (the Tories received 43% of the vote, with Labour in second place on 18% and the Lib Dems on 17%).
Paul Lindsell, managing director of Lindsell Marketing, said business leaders' opinions had not been canvassed enough during the run-up to next week's election.
“Pre-election polling naturally concentrates on the full electorate. Yet this time round, we face a £159bn government deficit – the size of which doubled between 2006 and 2008, then doubled again in a single year into 2009,” he said.
“The folk who are going to generate the economic growth which reverses this appalling situation are the country’s businesspeople. Not only should their collective voice therefore be heard, but the electorate will also be critically interested in their expert opinion on which party they feel most competent to get the country back in the black.”
The research also showed clear regional divides when it came to businesses’ political preferences. Conservative strongholds were seen in the Midlands and the South East; the Lib Dems performed strongly in the North East, South West and the East of England, while Labour did well in Scotland.
Small businesses, with one to 49 employees, favoured the Tories, whereas smaller corporates (with 250-2,499 employees) preferred the Liberal Democrats.
With many commentators predicting a hung parliament, Lindsell Marketing said policy analysts should be looking at how the main political parties can work together on economic regeneration initiatives.
“Given the results of our business poll, which so definitively places
the Tories and Lib Dems neck and neck in front, policy analysts and
advisers in both leading parties should be working even harder to find
the common policy ground which would provide the basis for a viable five
year plan to balance the nation’s books,” added Lindsell.
© Crimson Business Ltd. 2010