The Conservative Party’s failure at the General Election could benefit businesses because it won’t have the power to significantly meddle with the mortgage market, Landbay chief executive John Goodall said.
Goodall (pictured) compared the situation to ex-PM John Major’s administration from 1992 to 1997, where he oversaw significant economic growth despite the Tories having a slim commons majority, which was eventually wiped out in 1996 after series of unsuccessful by-elections.
Goodall said: “The government ticks on with ministers rather than changing legislation and Budgets have to be uncontroversial.
“Bizarrely if the government does nothing it’s relatively stable. Between 1992-97 with John Major the growth in that four year period was phenomenal. ”
He also made a parallel with the administration of President Barack Obama, who struggled to get legislation through Senate while in office to change anything significantly.