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Instability 'bad news for business'

Instability in terms of job losses and pay freezes are likely to have a detrimental impact on the UK economy and on local businesses in particular, it has been claimed.

Anne Mitchell, spokesperson for UNISON, said threats to UK jobs could result from the ongoing uncertainty about who will make up the next government and this could have a knock-on effect that people become less inclined to spend due to these issues.

She commented: "With uncertainty, people are reluctant; they don't want to spend their money, so that is going to have a knock-on effect on local businesses."

Ms Mitchell added that job losses will be inevitable in the months ahead and this too could harm businesses.

According to a recent YouGov poll on behalf of Amaze, more than a third of small and medium enterprise decision-makers believe a hung parliament would be the worst outcome for the economy (36 per cent) and reduce or delay investment (33 per cent).