The tally has ended for the 2015 UK general election. It quickly push several issues to light, such as potentials for two referendum in the coming year.

The tally has ended for the 2015 UK general election. Conservative under PM David Cameron leadership managed to gain unexpectedly large number of seats, more than what was expected by analysts and polls. It quickly push several issues to light, such as potentials for two referendum in the coming year, that is a referendum related to whether UK will exit European Union (the so-called Brexit), and a repeated referendum where Scottish will vote on whether Scotland will secede from the UK or not.

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Of the 650 seats available in the election, the incumbent, Conservative Party won the most with 330 seats while Labour stood as its runner-up with 232 seats and Scottish National Party (SNP) became the second runner-up with 56 seats. On the other hand, 2010 election's second runner-up, Liberal Democrat (LibDem) fell from grace by gaining only 8 seats and dropped to fourth place. Meanwhile, UK Independence Party (UKIP) that was lauded as the best newcomer strangely only managed to gain 1 seat despite receiving more votes than SNP and LibDem. Similar experience suffered by Green Party who gained more or less equal number of votes with SNP, but got a mere one seat in the Parliament.

UK Election Result2015 UK Election Result (Final)

 

1. Referendum On Brexit In 2017

It is public knowledge that UK membership in the EU is not a popular decision among its citizens. Supporting Brexit cause has helped UKIP rose to prominence. In response, during the last campaign, PM David Cameron also promised to hold referendum to decide whether UK will stay in the EU or get out of it, if his party wins the election. The issue has became a critical talk for both the Euro and Pounds. Of course, if Cameron later choose to forego his promises on account of the EU making some compromises with the UK, then the issue will recede. However, if we may estimate from Pounds response toward Conservative's victory, it appears that the market has quite a liking on Brexit.

 

2. Referendum On Scottish Independence (Again)

Back in 2014, the Scottish has held a referendum on whether they will stay within the UK or secede. In the occasion, the No voters obtained narrow win with 55%. Even so, in the recent election, the SNP that carries Scottish independence mission gained absolute win in Scotland (see the bright yellow area on the map above). It indicates Scottish belief in their future independence. SNP leader and rising politician, Nicola Sturgeon, also indicated their desire to contest for wider Scottish authority for Scotland and seek a repeat referendum on Scottish Independence.  

 

3. Stability Now, Turmoil Later

The victory of the Tories ensures that there will be no significant changes in regard of economic policies and budget allocation. The current Austerity regime will go on and decisions may be reached quickly as it will be difficult for the tight-fisted Labour to fight against such a large gap in the parliament. However, speculations about Brexit referendum will rife in the market from now onwards. This is potentially disturbing for trade relationships between the two regions and at some point may disrupt the two's economic performance as well as their respective currency's exchange rate.