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Speaker 1: Bloomberg Audio Studios, podcasts, radio news.

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Speaker 2: This is the Bloomberg Daybreak Europe podcast, available every morning

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Speaker 2: on Apple, Spotify or wherever you listen. It's Friday, the

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Speaker 2: fifth of July in London. I'm Stephen Caroll and Bloomberg's

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Speaker 2: European headquarters.

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Speaker 3: And I'm Caroline Hepka in Westminster, where Labour has won

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Speaker 3: a landslide victory, with Kiss Starmer set to be the

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Speaker 3: UK's next Prime Minister.

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Speaker 2: Ritchie Sunak takes responsibility for the devastating lass for his

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Speaker 2: party as voters turn their backs on fourteen years of

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Speaker 2: Conservative rule.

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Speaker 3: Plus a surgeon support reform. UK leader Nigel Farage becomes

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Speaker 3: an MP for the first time as his right wing

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Speaker 3: party secures a number of seats in Parliament.

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Speaker 4: Let's start with a roundup of our top stories.

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Speaker 3: Labor leader Kiss Starmer will be the UK's next prime

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Speaker 3: minister after a landslide win in the general election. The

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Speaker 3: Conservatives have suffered an historic defeat, an election that has

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Speaker 3: been as a referendum on fourteen years of Tory rule.

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Speaker 3: With the results still coming in, Labor have secured a

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Speaker 3: majority with more than three hundred and eighty seats so far,

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Speaker 3: the latest projections suggest that they will end up with

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Speaker 3: more than four hundred MP's and a parliamentary majority of

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Speaker 3: one hundred and sixty. Speaking earlier this morning, Kirs Starmer declared, victory.

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Speaker 5: We did it. You campaign for it, you've fought for it,

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Speaker 5: you've voted for it, and now it has arrived. Change

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Speaker 5: begins now and it feels good.

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Speaker 3: I have to be honest, so a tubilant kiss Starmer.

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Speaker 3: The landslide result gives Starmer a clear mandate to deliver

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Speaker 3: on his promises of planning reform, transitioning the UK to

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Speaker 3: green energy, and stimulating economic growth. However, it's clear that

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Speaker 3: a large part of the vote is also a rejection

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Speaker 3: of the Conservatives after years of chaos, rather than a

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Speaker 3: wave of enthusiasm for Labour.

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Speaker 2: The Conservatives are expected to win the lowest number of

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Speaker 2: MPs in over one hundred years, with a record number

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Speaker 2: of cabinet ministers losing their seats. Party Gate, Liz Truss's

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Speaker 2: disastrous mini budget and a surgeon inflation were all factors

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Speaker 2: in the defeat, with Rishiye Sunak, the fifth Conservative Prime

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Speaker 2: minister during fourteen years in power, unable to reverse the

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Speaker 2: party's declining popularity. Conceding defeat at the election count in

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Speaker 2: his own constituency, Sunac said he'd already been in touch

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Speaker 2: with the Labor leader.

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Speaker 6: The Labour Party has won this general election and I

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Speaker 6: have called to Keir Starmer to congratulate him on his

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Speaker 6: victory today. Power will change hands in a peaceful and

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Speaker 6: orderly manner, with goodwill on all sides. That is something

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Speaker 6: that should give us all confidence in our country's stability

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Speaker 6: and future. The British people have delivered a sobering verdict tonight.

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Speaker 6: There is much to learn and reflect on and I

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Speaker 6: take responsibility for the loss.

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Speaker 2: While Rishis Senac comfortably won in his constituency, a significant

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Speaker 2: number of ministers last their seats. Cabinet members Penny Morden,

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Speaker 2: Grand Chaps, Jillian Keegan and Alex Chock have all lost

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Speaker 2: their seats, but the Chancellor, Jeremy Hunt, was able to

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Speaker 2: hold his place in Parliament.

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Speaker 3: The other major story of the campaign has been the

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Speaker 3: rise of the right wing reformer UK Party leader Nigel

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Speaker 3: Farage won the Clacton constituency from the Conservatives, becoming an

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Speaker 3: MP after seven previous failed attempts, and Farage says the

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Speaker 3: results show a new chapter for his party.

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Speaker 7: We are going to come second in hundreds of constituencies.

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Speaker 7: How many things we're going to win, I don't know.

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Speaker 7: But to have done this in such a short space

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Speaker 7: of time says something very fundamental is happening.

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Speaker 3: Nigel Farage has been a constant fixture on the right

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Speaker 3: of British Parliament over the and politics over the past

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Speaker 3: two decades, and is seen as one of the driving

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Speaker 3: forces behind the UK's decision to leave the EU. His

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Speaker 3: entry to Parliament is likely to cause further riffs inside

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Speaker 3: the Conservatives, some saying that he should be welcomed into

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Speaker 3: their party.

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Speaker 2: Will the general election results point to a seismic shift

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Speaker 2: in UK politics. Bloomberg's UK political correspondent Ellen Milligan says

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Speaker 2: the historic defeat for the Conservatives racist question marks over

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Speaker 2: the party's path ahead.

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Speaker 8: I'm not sure it could have been worse for the Tories.

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Speaker 8: It's massive names losing their seats. Chancellor Jeremy Hunt just

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Speaker 8: clung onto his seat, but Penny Mordant, Grant Chaps Gilly

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Speaker 8: and Keegan Jacob Riesmonk incredibly senior Tories have lost their seats,

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Speaker 8: really narrowing the field as the Tory Party scrambles to

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Speaker 8: search for their future.

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Speaker 2: That's our UK correspondent UK political correspondent Alan Milligan speaking there.

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Speaker 2: They've also been gains for other parties, including the Liberal Democrats,

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Speaker 2: who so far won fifty eight seats, with results still

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Speaker 2: coming in well.

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Speaker 3: The pound has strengthened slightly against the US dollar, while

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Speaker 3: the footsy one hundred futures also pointing high as the

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Speaker 3: early results have come in, winning the confidence of investors

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Speaker 3: will be key to the new government's success. As Chancellor,

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Speaker 3: Rachel Reeves will be keen to avoid the mistakes of

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Speaker 3: the Liz truss Era Potoomberg's managing editor for FX and Rates,

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Speaker 3: Rachel Reeves. Rachel Evans says that investors have been relatively

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Speaker 3: unbothered by the party's promises during the campaign.

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Speaker 1: Fiscal restraint has very much been kind of the name

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Speaker 1: of the game throughout the election campaign. So the market

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Speaker 1: has really entered the election thinking about a low volatility environment.

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Speaker 1: Anything that comes through from a government that wants to

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Speaker 1: enact bold spending plans is really going to shake things

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Speaker 1: up because volatility has just been so low, so any

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Speaker 1: sort of shock is really going to blow out those

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Speaker 1: volatility measures.

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Speaker 3: Rachel Evans also says that the relationship with the EU

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Speaker 3: will be a key focus for markets in future to

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Speaker 3: see whether the new government can help reverse the Brexit

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Speaker 3: related hit to assets.

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Speaker 2: The economic outlook for Kris Darmer is positive. Inflation is

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Speaker 2: low and interest rates are set to full, but long

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Speaker 2: term questions remain over how to boost the UK growth

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Speaker 2: and productivity. Bloomberg's Chief UK economist Dan Hansen says people

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Speaker 2: making people feel better off will be difficult.

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Speaker 9: I think there's going to be a bit of an

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Speaker 9: economic honeymoon period if you like. What that masks, though,

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Speaker 9: is a more challenging medium term picture. One of the

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Speaker 9: big issues over the past five years has been a

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Speaker 9: lack of increase in living standards in the UK, and

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Speaker 9: that will be the big challenge for the new government,

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Speaker 9: boosting living standards, boosting productivity and getting the economy growing

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Speaker 9: at a fastest sustained rate.

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Speaker 2: Dan Hanson from Bloomberg Economics also highlights the difficult situation

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Speaker 2: for the public finances. He estimates the spending plans the

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Speaker 2: new government is inheriting already include a shortfall of twenty

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Speaker 2: billion pounds now.

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Speaker 3: Elsewhere in France, the national rally is expected to fall

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Speaker 3: short of an absolute majority in the second round of

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Speaker 3: parliamentary elections there on Sunday. The latest polls show that

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Speaker 3: the far right group and its allies are on course

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Speaker 3: to win between one hundred and ninety to two hundred

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Speaker 3: and fifty seats, falling short of the two hundred and

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Speaker 3: eighty nine needed for a majority. Blueberg Senior editor in Paris,

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Speaker 3: Phil Serafino says that coordinating rival political groups against Marine

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Speaker 3: Le Penn's party seems to be working.

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Speaker 10: The left and the center have decided that the worst

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Speaker 10: possible outcome would be a government led by the National Rally,

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Speaker 10: so they've sort of pulled together and decided to pull

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Speaker 10: candidates out of some of those races. So this tactic

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Speaker 10: is looking pretty effective, and that's why she's not happy

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Speaker 10: about it.

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Speaker 3: Our senior editor in Paris, Phil Serafino, speaking there, despite

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Speaker 3: the polling, president of the National Rally, Jordan Bardella, says

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Speaker 3: that he remains very confident, telling a debate on France

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Speaker 3: To television that people in the country want change.

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Speaker 2: In the United States, Joe Biden's Fourth of July celebrations

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Speaker 2: were overshadowed by pressure from some Democrats for the president

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Speaker 2: to drop his re election bid. So far, he's refused

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Speaker 2: to back down, and no prominent Democrats have publicly called

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Speaker 2: for him to do so. At Baxter has the latest.

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Speaker 11: The President himself has done a couple of talk shows

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Speaker 11: talking about the debate. I had a bad night, had

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Speaker 11: a bad night, and the fact of the matter is

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Speaker 11: that you know it was I screwed up.

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Speaker 12: I made a.

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Speaker 11: Mistake that on the Earl Ingram show on Civic Media.

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Speaker 11: Representative Seth Bolton of Massachusetts has become the third House

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Speaker 11: Democrat to publicly call on the President to step out,

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Speaker 11: saying he has done enormous service to the country, but

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Speaker 11: now is the time for him to let new leaders

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Speaker 11: rise up. So how long will the party take to

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Speaker 11: make the final decision? Well, Charles Myers of Signum Global

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Speaker 11: Advisor says he feels just a few days.

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Speaker 12: Things are moving a little faster than I expected. I

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Speaker 12: thought they'd have at least truth we were telling our

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Speaker 12: clients that have two or three weeks of polling before

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Speaker 12: they would have to make a decision. I thought, this

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Speaker 12: is a personal opinion. I think they've got probably another

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Speaker 12: five to six days. I think that things are moving

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Speaker 12: much faster against the President.

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Speaker 11: So far from a settled matter. Ed Baxter Bloomberg.

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Speaker 4: Radio conin HAPCROO, good morning.

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Speaker 2: You are alive in Westminster this morning on a very

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Speaker 2: important day for British politics. What is your sense of

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Speaker 2: what we're reading this morning when we look at the

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Speaker 2: results of this election.

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Speaker 3: Look, this Labor win was widely expected, but it's still

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Speaker 3: an amazingly unusual election. There were far more parties really

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Speaker 3: in the running in a lot of constituencies in the UK.

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Speaker 3: The staggering thing is simply the depths of the damning

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Speaker 3: verdict that voters in Britain have delivered for the Conservatives,

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Speaker 3: the utter failure for Isshisunak, who remember was Chancellor before

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Speaker 3: he was Prime Minister, came in barely two years ago

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Speaker 3: as PM with net positive ratings. Everybody sentally saw him

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Speaker 3: as competent. That was the word attached to him, despite

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Speaker 3: handing out billions of pounds in pandemic aid for individuals

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Speaker 3: and businesses. The overall view of the British public of

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Speaker 3: what happened was was that it was a failure that

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Speaker 3: real disposable incomes fell under the Tories over teen years.

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Speaker 3: Labour's focus now, though, I think is so interesting. It

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Speaker 3: is on delivery and on continued unity of the party.

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Speaker 3: That was the key to Keir Starmer's speech today. The

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Speaker 3: economy in the UK is improving, but actually there are

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Speaker 3: a lot of issues that the UK must grapple with productivity,

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Speaker 3: economic growth, the green transition. I mean, the list is

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Speaker 3: so long, how does Labour actually deliver that?

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Speaker 2: Well, let's get more into the scale of what we're

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Speaker 2: looking at. Will be joined by our UKPS Gladsa Alex

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Speaker 2: Beckham in just a moment, but first I want you

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Speaker 2: to go to Bloomberg's You and Partsy has been following

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Speaker 2: the results through the night for us. You and it's

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Speaker 2: just after six am here in London. Take us through

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Speaker 2: where we are in terms of the numbers.

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Speaker 13: Steven a really fascinating night later on course, for a

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Speaker 13: majority of one hundred and sixty t one hundred and seventy.

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Speaker 13: So far, so expective, but if you dig into the detail,

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Speaker 13: really interesting. Latest predictions are for an eleven percent swing

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Speaker 13: from the Conservatives to Labor That's a bit lesson you

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Speaker 13: might expect, but if you look at the distribution of

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Speaker 13: votes it is incredibly efficient. People have gone out and

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Speaker 13: found the best way to give the Tories a kicking,

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Speaker 13: and they have done it all over the country. They

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Speaker 13: voted Labor where they need to vote Labour, and they

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Speaker 13: voted Libdem where they need to vote live them. They

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Speaker 13: Live DEM's incidentally on course perhaps for their best results

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Speaker 13: in one hundred years. They've been winning basically everywhere they can.

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Speaker 13: Interesting to look at the reform vote at the beginning

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Speaker 13: the night, we're expecting them to pick up fourteen seats,

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Speaker 13: but the exit pole looking a bit dodgy on that,

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Speaker 13: perhaps four or five reform. They've been piling up loads

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Speaker 13: of votes around the country and lots of decent second

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Speaker 13: places for reform, which I think will be significant for

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Speaker 13: next time, and many of them against Labor as well.

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Speaker 13: In Scotland are thumping for the SMP. Not my words,

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Speaker 13: the words of Stephen Flynn, the S ANDP Westminster leader.

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Speaker 13: They've been losing not just in the Central Belt to

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Speaker 13: Labor as we expected, but they've been losing right across Scotland,

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Speaker 13: and the SMP perhaps on course to end up just

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Speaker 13: in single digits, really ending those years of dominance in Scotland.

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Speaker 13: The Greens having a very good night. We've actually seen

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Speaker 13: them pick up four seats, so far with unexpected gains

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Speaker 13: in Herefordshire and in East.

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Speaker 4: Anglia as well.

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Speaker 13: More cabinet ministers have lost their seats this election than

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Speaker 13: any other in history. We're told that Liz Trust's result

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Speaker 13: is looking very close as well, and very interesting this

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Speaker 13: as well. Two prominent Labor Front benchers have been knocked out.

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Speaker 13: You wouldn't expect that in an election winning year for Labor,

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Speaker 13: including Jonathan Ashworth of course on the Treasury team, the

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Speaker 13: Shadow Treasury Team. He lost his seat to an independent

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Speaker 13: and in Bristol they were knocked out by the Greens.

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Speaker 13: And where's streeting? This is quite something only one by

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Speaker 13: five hundred and twenty eight votes in Ilford North, which

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Speaker 13: is a safe Labour seat, a twenty percentage point drop

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Speaker 13: in his vote, that is against a Muslim independent candidate

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Speaker 13: who came very close to unseating him. So lots of

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Speaker 13: challenges to Labor from the Muslim voters abandoning them. But

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Speaker 13: really a fascinating election, a real splintering of the vote,

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Speaker 13: and more parties in Parliament this time around, and I

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Speaker 13: think more electoral uncertainty as we look ahead.

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Speaker 2: Okay, you and my head spinning, and I'm sure other

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Speaker 2: peoples are this morning as well. Thank you very much

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Speaker 2: for taking us through where we are at fourteen minutes

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Speaker 2: past six this morning in London.

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Speaker 3: Well, Stephen, let's also get some more analysis, shall we,

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Speaker 3: from our UK political editor Alex Wickham, who joins us. Alex,

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Speaker 3: I'm in Westminster. I was just outside. It's pawing with rain.

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Speaker 3: Rishi Sunak called this vote six weeks ago in the

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Speaker 3: point I mean, I think if he has to bring

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Speaker 3: up a black London umbrella, that's simply going to give

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Speaker 3: us the whole funereal theme for the Conservatives. UK voters

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Speaker 3: are waking up this morning to a new government. What

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Speaker 3: do you think it means? Kirs Starmer Labour's policies as

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Speaker 3: they've laid them out for Britain.

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Speaker 14: Kiss Armer is going to say that this is a

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Speaker 14: moment of change for the country. When he gives his

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Speaker 14: speech at Downing Street, we think maybe ten or eleven am,

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Speaker 14: it will all be done and dusted and it'll have

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Speaker 14: been to see the King and done all the formalities,

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Speaker 14: and then it'll give his sort of address to the nation.

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Speaker 14: He's not going to be able to promise everything is

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Speaker 14: going to get better very quickly. He's going to say

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Speaker 14: it will take time, but he'll say work starts today

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Speaker 14: and they'll get going on house building to unlock economic growth,

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Speaker 14: bring in private investment, green transition, fixing, the NHS waiting lists,

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Speaker 14: things like that that Labor has said relatively modest ambitions

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Speaker 14: for the country that after inheriting such difficult public finances

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Speaker 14: from the Tories, but nonetheless Labor will be absolutely delighted

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Speaker 14: this morning and ready to get going.

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Speaker 2: How much of a pivot is it from Starmo to

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Speaker 2: go from leader of the opposition to the leader of

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Speaker 2: a G seven country.

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Speaker 14: It's an absolutely huge change. And I think talking to

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Speaker 14: even civil servants who will be managing this transition, you

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Speaker 14: know it's hard to go into government and kiss Starmer

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Speaker 14: has in Labor party often have this view that well,

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Speaker 14: the Tories are incompetent and venal and corrupt and that's

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Speaker 14: why everything's gone wrong. Well, depending on your view, that

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Speaker 14: may be true to an extent, but also there are

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Speaker 14: very serious structural problems with the way the country is

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Speaker 14: run and governed, and various problems with the economy and

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Speaker 14: public services, and those don't just go get better just

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Speaker 14: because there's a new government and that is going to

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Speaker 14: be the big challenge for Kirstarmer. He has got a

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Speaker 14: huge mandate in terms of seats to get through the

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Speaker 14: policies that he says will improve the country in five years.

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Speaker 14: Can he make enough of a difference to make voters happy?

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Speaker 13: Yeah?

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Speaker 3: Absolutely, And the Conservatives, to be fair, face enormous challenges.

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Speaker 3: I mean some perhaps self made Brexit didn't get much

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Speaker 3: of a mention in this election cycle, but also the pandemic,

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Speaker 3: the war in Ukraine and the spike and energy prices.

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Speaker 3: How significant a loss you think this is for the Conservatives?

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Speaker 14: It is an absolute destruction of the Conservative Party. This

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Speaker 14: will looks like be the worst result for the Conservative

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Speaker 14: Party in history in terms of the number of seats

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Speaker 14: that they're going to end up winning, worse than the

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Speaker 14: nineteen oh six results was the last worst performance. Is

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Speaker 14: going to cause huge introspection, if not worse than that,

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Speaker 14: and full blown civil war over the future of the

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Speaker 14: Tory Party in terms of where they go next. Reform

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Speaker 14: is the one of the other stories of this election.

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Speaker 14: Nigel Farage's party, which is going to pick up looks

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Speaker 14: like four or five seats, but beneath that it is

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Speaker 14: second in huge swathes of seats across the country, second

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Speaker 14: usually to the Labor Party. It has stopped the Conservatives

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Speaker 14: from holding on to many seats that would have considered

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Speaker 14: safe and basically voters who want to protest against the

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Speaker 14: Tories for not fixing immigration, for not running the country

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Speaker 14: in a siufficiently conservative way to fix that over the

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Speaker 14: next five years is going to be a nightmare for

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Speaker 14: the Tories.

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Speaker 2: Look, we've talked with some of the big names of

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Speaker 2: last their seats already penny more than grand Shaps. But

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Speaker 2: I want to take a listen to one of the

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Speaker 2: senior Tory figures who did keep her seat.

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Speaker 4: This is Sweller Bravraman.

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Speaker 15: There is only one thing that I can say. Sorry,

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Speaker 15: I'm sorry. I'm sorry that my party didn't listen to you.

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Speaker 15: Conservative Party has let you down. You the great British

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Speaker 15: people voted for us over fourteen years, and we did

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Speaker 15: not keep our promises. We've acted as if we're entitled

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Speaker 15: to your vote regardless of what we did, regardless of

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Speaker 15: what we didn't do, despite promising time after time.

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Speaker 3: That we would do those things.

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Speaker 2: That's Sweller Bravman speaking after holding her Seaton Farm and Waterlooville,

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Speaker 2: alex when we listened to Sweller, Bravramen. They're that tone

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Speaker 2: coming through in quite a lot of the speeches, the

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Speaker 2: concession speeches for some that we've heard overnight as well.

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Speaker 2: Do we have an idea of what the future of

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Speaker 2: the Tory Party looks like?

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Speaker 14: I think there will be a leadership contest in the

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Speaker 14: next probably a couple of months over the summer. Kemmy Badenoch,

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Speaker 14: it looks like, is going to be a front runner

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Speaker 14: in that contest. It's interesting because a lot of right

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Speaker 14: wing Tory MPs have lost their seats, people like Jacob

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Speaker 14: Rhys Mogg in a Portillo style moment, people like Liz

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Speaker 14: Trust look under big threat. But in terms of the

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Speaker 14: candidates who could be leader, lots of the moderates like

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Speaker 14: Penny Mordan and Grant Chaps are gone and you're left

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Speaker 14: with people like Pretty Bateel, Suela Bravaman, Robert Jenrick and

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Speaker 14: you know, Kemy Badenoch. So they probably Kemy is the

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Speaker 14: front runner and that is going to be, you know,

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Speaker 14: a very interesting prospect. But you know the other question

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Speaker 14: is how relevant are the Tories, you know, how seriously

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Speaker 14: do we take them in opposition when they only ended

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Speaker 14: up with looks like maybe hundred and ten, hundred and

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Speaker 14: twenty seats by the end of this How much does

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Speaker 14: it really matter? Are they really be able to turn

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Speaker 14: it around in the next five years?

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Speaker 3: No, absolutely incredible. I mean, Kenny Baden was one of

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Speaker 3: the women in Westments that we profiled on the Bloomberg

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Speaker 3: UK Politics podcast. You know is potentially one of the

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Speaker 3: important people to watch. But as you say, how important

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Speaker 3: will will those individuals be when they are so reduced?

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Speaker 3: Look in terms of labor and the promise of change,

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Speaker 3: I mean, I want to come back to the incoming

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Speaker 3: labor government. The manifesto was very limited. I mean they

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Speaker 3: only talked about about less than ten billion pounds in

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Speaker 3: terms of tax and spending plans. Bloomberg Economics thought that

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Speaker 3: it would hardly boost economic growth. I mean, would you

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Speaker 3: expect them to deliver what are going to be some

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Speaker 3: of the first milestones?

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Speaker 14: I think you're going to hear kiss Arma say probably today.

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Speaker 14: Very honestly, just because I've got a huge majority, that

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Speaker 14: doesn't mean I have loads of money all of a sudden.

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Speaker 14: And yes we might have won big, but that does

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Speaker 14: not change anything in terms of what I can do.

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Speaker 14: So it's all well and good voices in the Labor

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Speaker 14: Party saying you need to be more ambitious, you need

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Speaker 14: to spend more money, you need to tax the which more,

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Speaker 14: you need to you know, spend more on public services,

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Speaker 14: fix them all faster. That is easier said than done.

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Speaker 14: And Kirstarma does not want to do that, and he

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Speaker 14: will not go pivot to a more radical approach in

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Speaker 14: you know, certainly in the first phase at least of

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Speaker 14: his government, he is betting on stability, private investment, and

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Speaker 14: planning reform, essentially unlocking economic growth. Economists are extremely skeptical

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Speaker 14: about that. They sort of, you know, call it a

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Speaker 14: growth miracle that he's that he's betting on. And you know,

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Speaker 14: we will have to see in a year or two

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Speaker 14: whether it's working or not, and then he will have

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Speaker 14: to reassess what he does. In terms of the first

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Speaker 14: hundred days, it is things like getting spades in the

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Speaker 14: ground to start you know, building houses. It is it

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Speaker 14: is getting gb energy this sort of investment vehicle to

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Speaker 14: try and speed up the green transition going. He's got

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Speaker 14: huge crises to deal with, things like prisons which are

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Speaker 14: essentially full and unable to keep violent criminals inside. He's

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Speaker 14: got big problems of firs one hundred days.

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Speaker 2: Okay, Alex Wickham, are you k political lecture? Thank you

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Speaker 2: very much for joining us with that. Well, let's get

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Speaker 2: more now on some of the big wins of the night,

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Speaker 2: Reform UK. Nigel Farage winning a seat in Clacton on

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Speaker 2: his eighth attempt. Bloomberg, Jack Ryan was there for that

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Speaker 2: moment and he joins us now, Jack, good morning. As

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Speaker 2: I say, Nigel was eighth attempt to win this seat,

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Speaker 2: A big moment for him.

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Speaker 16: Yeah, well, I mean I suspect this will be among

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Speaker 16: the high points of.

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Speaker 4: His political career.

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Speaker 16: As you said, he's run seven times for Westminster now

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Speaker 16: in the last thirty years. On none of those occasions

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Speaker 16: did he make the mark. Now, finally the returning officer

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Speaker 16: is calling the name Nigel Farage and he's said to

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Speaker 16: be entering Parliament for the first time and for Reform.

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Speaker 16: This is the one they absolutely had to win. It

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Speaker 16: was Nigel Farage crashing into this campaign that preceded their

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Speaker 16: pole jump. They need him in parliament. He's able to

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Speaker 16: draw like no one else in that party. I mean

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Speaker 16: that was on show at the count Center. TV cameras

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Speaker 16: and reporters from all around the world were cramming into

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Speaker 16: this center in Essex. I had to go through airport

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Speaker 16: style security to get into the place. It was. It

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Speaker 16: reminded me of what the director of Politics A Lipsos

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Speaker 16: said earl earlier this morning, which was that braj entering

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Speaker 16: the race was probably the most consequential moment of the

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Speaker 16: campaign and so yes, big moment for FRAG and a

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Speaker 16: big moment for Reform definitely.

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Speaker 2: Jack we are have been talking about Nigel Farat having

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Speaker 2: a lot of cut through with voters and the success

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Speaker 2: of the Reform Party elsewhere in the country, even the

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Speaker 2: number of seats being won, but also coming second to

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Speaker 2: Labor in quite a large number of seats as well.

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Speaker 2: Is he going to be a thorn in kerse Armer's side.

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Speaker 16: Well, this is certainly what he was hinting at, or

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Speaker 16: not even hinting at directly saying in his post victory

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Speaker 16: speech that now reformers in second place and a lot

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Speaker 16: of the country and Labor is the next target. They've

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Speaker 16: already defeated the Conservatives and left them in the rearview mirror.

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Speaker 16: I'm not so sure that Labor will see Reform as

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Speaker 16: a major threat. It's true that it comes second in

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Speaker 16: a lot of seats to Labor, but it appears as

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Speaker 16: though their main pool of support is twenty nineteen Conservative voters,

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Speaker 16: not Labor. And so really I think the fundamental threat

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Speaker 16: Reform poses is to the Conservative Party they will not

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Speaker 16: want to go into the next election. Was Reform on

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Speaker 16: their right flank pulling ten percent or fifteen percent to vote.

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Speaker 16: So I think probably the discussion about what to do

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Speaker 16: about Farage have already begun, but I reckon they're a

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Speaker 16: bit more frantic in the Tory tent.

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Speaker 3: Yeah, I mean, I think it was very interesting in

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Speaker 3: the taxi on the way over here. The taxi driver

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Speaker 3: was saying, well, Nigel Faraje, he shut things up, didn't he.

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Speaker 3: That does seem to be the view essentially, but it

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Speaker 3: wasn't just Farage. It's also that Richard Tice got in

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Speaker 3: Lee Anderson, who of course went from being the deputy

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Speaker 3: chairman of the Conservative Party over to Reform. So there's

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Speaker 3: a number, you know, they they're going to have a

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Speaker 3: number of seats. As you say, I want to touch

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Speaker 3: on the controversies that they've faced, accusations for example, of

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Speaker 3: racism against a Reform UK campaign. Is how controversial, are they.

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Speaker 16: Well, I mean, this is something that's dominated headlines for Reform.

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Speaker 16: In the final days of the campaign. There was a

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Speaker 16: seemingly endless number of stories of candidates who were revealed

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Speaker 16: to have made extreme racist or homophobic homophobic comments online

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Speaker 16: or in person in previous years or even during the campaign,

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Speaker 16: and Reform appeared to have shifted their line on this.

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Speaker 16: At first they dismissed it as a few bad apples,

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Speaker 16: but as that outline I think became harder to maintain,

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00:24:42,720 --> 00:24:47,320
Speaker 16: they moved on to putting it on their relative and experience,

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Speaker 16: and also putting blame on their vetting company, which Brad

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00:24:50,920 --> 00:24:55,159
Speaker 16: said stitched them up. So after the count he appeared

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Speaker 16: to acknowledge this again, he acknowledged some of the organizational

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Speaker 16: problems the party had had had said he wanted, as

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Speaker 16: he said, throughout the idiots. But I suppose for critics

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Speaker 16: Reform they would wonder whether this string of commons represents

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00:25:10,880 --> 00:25:13,719
Speaker 16: a real strain of sentiment within the party.

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Speaker 2: Okay, Jack, Ryan and Clacton, thank you very much for

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Speaker 2: joining us. With the rise of Nigel Farage into Parliament

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Speaker 2: for the first time, winning the seat there one of

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Speaker 2: a number of wins for the Reform UK Party this

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Speaker 2: morning in Caroline. Really, that's one of the key stories

481
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Speaker 2: of the election today.

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Speaker 3: Yeah, absolutely, before UK may also have won more votes

483
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Speaker 3: than seats, but I think they are going to be

484
00:25:36,280 --> 00:25:38,800
Speaker 3: immensely important. And the other point I'd make is on

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Speaker 3: their election manifesto. You know, it was a scene as

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Speaker 3: pretty dubious. The IFS thought that it was questionable because

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Speaker 3: they actually had huge spending and tax plans. They promised,

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Speaker 3: for example, to slash NHS waiting times in two years

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Speaker 3: without really the money to back it. So it's also

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Speaker 3: their policies that I think are going to be very

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Speaker 3: important because they will surely get more of an airing

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Speaker 3: and more attention in this next parliament.

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Speaker 2: This is Bloomberg Daybreak Europe, your morning brief on the

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Speaker 2: stories making news from London to Wall Street and beyond.

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00:26:17,000 --> 00:26:19,680
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00:26:22,800 --> 00:26:25,520
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Speaker 3: I'm Caroline Hepka and.

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Speaker 4: Europe