Britain's Strange Election About Nothing
(Bloomberg View) -- Britain's vote on Thursday is set to be a textbook example of the limits of elections. When choices are clear, and articulated by strong leaders, elections can move politics forward. When choices aren't clear, and parties don't know what they stand for, votes resolve nothing.
Six weeks ago, U.K. Prime Minister Theresa May's call for a snap election made sense. With her popularity high and her Labour Party opponents in disarray, she hoped to strengthen her position in Parliament, undercutting her party's euroskeptic hard-liners and making it easier for her to negotiate the terms of Britain's divorce from the European Union.
Things haven't gone according to plan. New terrorist atrocities have sidelined discussion about Brexit, such as it was. May has waged a weak campaign and seen the once-commanding lead of her Conservative Party evaporate. A Labour win still looks unlikely, but anything less than a big Tory victory will leave May diminished, and the outlook for Brexit even more muddled.
Fact is, on the two main issues -- Britain's exit from the EU and the persistent threat of Islamist terrorism -- there isn't much difference between the main parties. The Labour opposition isn't promising to reverse Brexit, only to make it less disruptive. (It hasn't said how.) On counterterrorism policy, both parties have deplored the attacks with equal conviction and run up against the same familiar, intractable trade-offs between security and civil liberties.
All of which has lent a strange air of near-irrelevance to Thursday's vote. Issues of world-historical import bear down on British voters -- and the election has had almost nothing to say about them. Instead, the parties have been squabbling about May's so-called dementia tax and Labour's half-baked economic plan.
Taking the parties' programs at face value, the Tories make a far better case. Yet it's come down to a confidence vote on the two leaders, May and Jeremy Corbyn. At a moment of great political stress, Britain finds it has little confidence in either.
--Editors: Clive Crook, Michael Newman.
To contact the senior editor responsible for Bloomberg View's editorials: David Shipley at davidshipley@bloomberg.net.
For more columns from Bloomberg View, visit http://www.bloomberg.com/view.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.