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UK: The Labour Party has secured a landslide victory and majority in the UK General Election, winning more than 326 of the 650 seats needed to gain a majority in the UK Parliament.
At the time of writing, with three constituencies still to declare, Labour has secured 412 seats in Parliament [+211 on the previous General Election in 2019], followed by the Conservatives on 120 seats [-250 seats], the Liberal Democrats with 71 seats [+63], the Scottish Nationalist Party [SNP] with nine seats [-38], Sinn Fein with seven seats [0] and Other with 28 seats [+14].
The result was widely anticipated, with last night’s exit poll [released at 10pm BST on Thursday] suggesting that incoming Prime Minister Sir Keir Starmer’s party had won an estimated overall majority of 170 seats.
In addition, 12 Tory cabinet ministers have lost their seats, including former Prime Minister Liz Truss, outgoing Defence Secretary Grant Shapps, Education Secretary Gillian Keegan, and House of Commons leader Penny Mordaunt.
Speaking in central London overnight, Starmer told his supporters that “change begins now” and that “it feels good”.
Outgoing Prime Minister Rishi Sunak of the Conservative Party said: “The British people have delivered a sobering verdict tonight, there is much to learn… and I take responsibility for the loss.”
Stay tuned for more reaction and analysis.
Reaction to the Election results were as follows:
Kate Nicholls, chief executive of UKHospitality: “Firstly, I’d like to congratulate Sir Keir Starmer and the Labour Party on its victory in the General Election.
“We look forward to working with the new Labour Government, which during the campaign has clearly recognised hospitality’s role serving Britain and creating places where people want to live, work and invest.
“We now need to see this followed up with action in the first 100 days. Delivering on manifesto commitments to replace business rates and reform the Apprenticeship Levy would be a clear sign that the Government backs hospitality as the central pillar of the everyday economy.
“Swiftly addressing business rates would fulfil a longstanding ask of the sector and avoid a cliff-edge in April, when current relief is set to end and rates are due to increase again.
“Hospitality, with its presence in every constituency, can act as a powerhouse for driving economic growth, creating new jobs and regenerating our towns and cities. I look forward to working in partnership with the new Government to help deliver its manifesto commitments and realise hospitality’s growth ambitions.”
Brendan Geraghty, CEO, The Association for Rental Living [ARL]: “The Association for Rental Living (ARL) welcomes the Labour Party and its leader, Sir Kier Starmer, as the new government of the UK following the results of the General Election held on 4 July 2024. As the representative body for the institutionally backed, professionally managed rental living sector, the ARL welcomes Labour’s manifesto pledges to take swift action to address key housing issues including building more homes and recruiting new planning officers.
“However, the severe lack of high-quality rental homes across the UK is a key factor in the housing crisis, driving up rental levels as demand outstrips supply. The ARL calls for policies that enable homes of all tenures to be delivered at scale and pace.
• A long-term, national housing strategy based on cross-party consensus
• Well thought-through planning reforms
• Rental reform that promotes high standards
• Bring forward measures to stimulate housing supply to meet the monumental demand for homes
• Fiscal measures that encourage investment in purpose-built, professionally managed rental homes.
“Such measures are needed to unlock the long-term ambitions of the institutionally backed rental living sector, by providing clarity and confidence that will encourage long term investment in housing.
“The ARL will be writing to the incoming Secretary of State and Housing Minister setting out the key issues impacting housing delivery with recommendations to increase all forms of housing, including institutionally backed BTR. We will also be contacting the new intake of MPs to raise understanding of BTR and to highlight the role that BTR can play in meeting local housing need.
“The ARL will continue to work with government, local authorities and policymakers on behalf of its members who are delivering the professionally managed, good quality rental homes which are in such great demand across the UK.
Steve Jones, CEO of Wyboston Lakes Limited: “The arrival of a vast number of new MPs offers a major opportunity and need for the meetings and events industry to educate them about our industry and the challenges it is facing.
…”While the ‘Business of Events’ team are influencing the new government at the House of Commons and Whitehall, business travel agencies and venues should invite their MP, especially those who are new, in to meet them in the coming weeks and educate them on meetings and events as an industry so that they fully appreciate its scale, reach and significant contribution to both to the local and national economy.”
John Webber, head of business rates, Colliers: “Given the size of the landslide victory, there should be no excuse for the Labour party to avoid addressing the business rates problem or to introduce significant reform, which will help protect the high street. We urge reform, as opposed to abolition, to ensure local authorities continue to receive the stable funding they need.
“After more than 30 years of mismanagement from successive governments, we now have a multiplier which at over 50p in the pound, means a 50 per cent tax on property occupation, a complicated relief system with business rates deserts in some parts of the country and an appeal system that’s inefficient, lacking transparency and increasingly difficult for businesses to negotiate without an adviser. The current system is just not fit for purpose.
“British business deserves more. Let’s hope Labour listens to what we and other professionals and businesses in the sector have been calling for- and don’t just throw the baby out with the bath water. This is a once in a lifetime opportunity to tackle the current system: rebase the multiplier to something businesses can afford, review the relief system so that everyone that uses local services pays something, reform the appeal system and to regulate business rates advisers, so businesses are not at the mercy of rogue traders.
“We will continue our lobbying role to try and persuade the new administration to create a fair property tax that is affordable, transparent and easy to administer, encouraging businesses to expand and invest rather than downsize or even close down their bricks-and-mortar estates.”
