Conservatives: A Hung Parliament Puts Politics Behind Closed Doors

George Osborne explains why a hung parliament would represent a change for the worse, not a change for the better.

Speaking at a press conference alongside Jeremy Hunt, Osborne released a briefing on the problems a hung parliament would cause.

He also revealed that the Conservatives had given their next Election Broadcast to another party - The Hung Parliament Party.

"A vote for the Hung Parliament party", he said, "is a vote for politics behind closed doors; indecision and weak government; a paralysed economy; yet another election; and very possibly, waking up on the 7th of May to find out that Gordon Brown is still in Downing Street".

In terms of how a hung parliament will affect British politics, Jeremy Hunt said that rather than bringing about a new politics it would plunge us into the politics of the 1970s, with horse-trading and deals behind closed doors instead of transparency and reform.

In terms of how it would damage our economy, Osborne said a hung parliament "poses very real risks" for our economic stability and prospects for recovery. He cited what happened to the stock market, inflation, and interest rates after the last hung parliament in 1974.

"For five years Britain was condemned to weak government and economic instability", he said. "Britain cannot afford a repeat of that experience".

Today the British Chambers of Commerce published a poll of their members showing two thirds are concerned about the potential impact of a hung parliament.

Forecasts by the Centre for Economics and Business Research published at the weekend show that a hung parliament would lead to higher mortgage rates and a falling pound – even in their best case scenario.

"That would mean higher costs for families", Osborne said. "Higher fuel prices, more expensive foreign holidays and higher mortgage payments – potentially by more than £1,000 a year".

"That's why we are campaigning so hard for a Conservative majority. Because only a Conservative majority guarantees change for the better. And only a Conservative majority can secure the recovery."