The world of business is, apparently, appalled by the actions of the 48 or more Conservative MPs who have triggered a vote of no confidence in Theresa May as Conservative leader. According to the Institute of Directors, its members are ‘tearing their hair out’ over today’s news. The message seems to be that a change of Prime Minister is an unwanted distraction when the country is already in a state of crisis.
Yet markets seem to disagree. The FTSE this morning is up by more than one per cent. However negatively bosses might see the potential end of Theresa May as Prime Minister, investors in their companies seem to be taking a rather more positive view. It is not the first time that a divergence has emerged between business leaders and investors over Brexit. Immediately following the 2016 markets plunged, yet after a few days they began to recover strongly – and indeed finished the year substantially up on where they had been on referendum day.
Get Britain's best politics newsletters
Register to get The Spectator's insight and opinion straight to your inbox. You can then read two free articles each week.
Already a subscriber? Log in
Comments
Join the debate for just $5 for 3 months
Be part of the conversation with other Spectator readers by getting your first three months for $5.
UNLOCK ACCESS Just $5 for 3 monthsAlready a subscriber? Log in