I'm John Bachelors with my colleague Joseph Sternberg. He's in London. He writes political

economics column for the Wall Street Journal editorial page. and there is an election on July 4th and it's

surprising only in that it is not changed since it was first called.

The labor led by Karest Armour is avowedly ahead by so much it doesn't look like a real poll.

I think it's somewhere in the 40s.

And the conservatives who've been in power for 12 or 13 years the close behind. Joe right now, Kirstirmer is measuring the drapes. Well, he's

measured the drapes. So he's prepared to move into number 10. What will that

mean immediately? What is your anticipation? Well there's some

uncertainty about what labor and power is going to mean because their campaign

strategy has been to try to avoid campaigning as much as possible.

I think that the dynamic of this election has been that after 14 years in power,

the Conservative Party is so unpopular that it was all but inevitable that they would lose and the only thing that

labor needs to do is not scare voters.

And I think that Kir Stormer has been very good at that.

So he has scaled back what probably

would have been some of their most problematic policies.

There are hedging on tax increases.

We probably won't see the sort of tax rises that you would

ordinarily expect from a labor party government.

They've scaled back some of their green ambition, so you probably won't see all of the ruinously expensive net zero climate policies that you would expect from ordinarily from the labor government.

But I think that we're going to come in on sort of an uncertain period where he,

Labor is going to have to figure out what they want to do and they have internal divisions

...