Allegra Stratton and Ailbhe Rea Debate on UK Business Leadership

25 Jun, 2024

With only ten days remaining until the general election, both Labour and the Conservatives have hit polling lows today. Despite this, Labour still holds a 20.8-point lead, according to the Bloomberg poll of polls.

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At Bloomberg today, we hosted a business debate featuring Business Secretary Kemi Badenoch and her potential successor Jonathan Reynolds, with Badenoch also being a likely future Conservative Party leader. During the debate, Badenoch avoided questions about standing for leadership after a potential election defeat on July 4, mentioning that her current role has been the “job of a lifetime” and easier than being Prime Minister.

Despite her party's crisis over election bets, Badenoch clashed with Reynolds on Labour’s workers’ rights reforms, the green energy transition, and the UK-EU relationship.

Reynolds notably did not rule out Labour accepting a role for the European Court of Justice in a veterinary deal with the EU, which could ease trade friction but represents a shift from Tory policies.

Before the UK election, France faces its parliamentary election. Bloomberg outlines four potential market scenarios. Investors are wary, demanding the highest risk premium on French bonds since 2012. The most likely outcome appears to be a gridlock with the National Rally as the largest party but without a majority, which would end Macron’s economic reforms but may be less disruptive than anticipated.

Stay updated on key stories: Israel's Gaza focus shift, housing shortages' impact on politics, perks for German carmakers in China, corporate women’s challenges, Saudi Hajj deaths, and Nvidia’s sales surge. Bitcoin's price at $61,153 reflects cooling demand.

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