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Why is Britain’s economy so stuck? It’s the tension between what voters want and what the bond markets allow | Larry Elliott

There is no such thing as the Bond Dealers party, but there might as well be – the people who trade in UK debt exert a stranglehold over our politics

The days of two-party politics are over. When voters go to the polls in England next week, they will have five main contenders to choose from. In Scotland and Wales, the nationalists make it a six-strong race.

This fragmentation reflects the deep discontent with Labour and the Conservatives. One thing in common between the Greens and Reform UK is that they are each benefiting from a sense that radical parties are worth a punt because nothing could be worse than it is now.

Larry Elliott is a Guardian columnist

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Apr 30, 2026 Economic policy Tax and spending Economics

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