LIVE: Pound rises after Labour’s landslide election win as investors await what comes next

Emma Jones CBE, Founder and CEO of Enterprise Nation, comments on what a general election victory for Lbaour could mean for small businesses:

We are particularly encouraged by Labour’s recognition of the crucial role that entrepreneurs, start-ups and small businesses will play in realising its vision of a more prosperous Britain. Supporting small businesses means more innovation, more quality jobs and local economic revitalisation.

The Labour Party manifesto included a number of promises that align with our members’ priorities, as outlined in our manifesto for small businesses. The commitment to reform the outdated corporate tax system is a positive step towards a fairer model for all businesses.

We are also pleased to see Labour’s plans to tackle payment delays, improve access to public contracts for SMEs and boost exports through targeted advice and a clear trade strategy. These initiatives have the potential to significantly support the growth and success of small businesses.

The promise to ensure access to banking services on high streets through fast-track banking centres is another positive measure that could contribute to wider high street regeneration efforts.

As the Labour Party prepares to take power, we look forward to working closely with the new government to help make its mission of economic growth a reality. We stand ready to offer our expertise and represent the voices of entrepreneurs and small businesses as these important policies are developed and implemented.

Ben Ritchie, Head of Developed Markets Equities at Abrdn, comments on the Labour Party’s election victory:

A landslide victory provides the kind of clarity and stability that stock markets need in an increasingly volatile world.

Labour’s pro-growth agenda is key to generating the tax revenues needed to fund public services, and private capital plays a vital role in supporting investment.

If the new government does its job well, companies with significant exposure to the UK economy should benefit the most, providing a boost to companies in the FTSE 250 and FTSE Small Cap indexes in particular. With a little more patience, investors could finally be rewarded.

A key priority for the new Government should be to make UK stocks more attractive to domestic and international investors.

One of the quickest and most effective ways to achieve this is to scrap stamp duty on UK shares, which would make the country more competitive, reward savers and attract much-needed foreign investment.