In the short term that won’t affect the mortgage business all that much but markets hate uncertainty and unless the situation is resolved soon and responsibly, who knows what might happen to sterling and interest rates?
Until Monday afternoon there were positive signs that a coalition government with the Conservatives supported by the Liberal Democrats was a possibility, though Clegg’s negotiating team seemed to be dragging their feet over proportional representation which as an issue wasn’t reflected in the election –otherwise surely the Lib Dems would have gained seats, rather than lost them?
But now Clegg and Brown (the Clown team) have rather put a spanner in the works with Brown’s resignation, like his stealth taxes, taking effect at an indeterminate date –imminent enough to cut a deal with another party that actually lost seats but far enough away to enjoy pulling the levers of power for just a little bit longer.
And who knows, if by some miracle things turn round sooner than expected, will the Labour faithful want to ditch him anyway?
The fact that we now face the possibility of a coalition government formed by also rans, with a prime minister who lost the election and a successor who didn’t actually participate in the televised PM debates, raises serious question marks about our constitution and how the country might be run for the next five years.
The degree of cynicism being currently exercised in the pursuit of power surpasses the cynical way that our parliamentarians feathered their own nests by blatantly exploiting their parliamentary allowances and suggests that our politicians have learnt nothing.
As a footnote to all this, our post election weekend was also marked by a celebration of VE Day and marred by the murder of a Polish teenager in Finsbury Park.
That, I thought, was a tad ironical, given that we went to war in 1939 to defend Poland, though of course we gifted that country to Stalin at a meeting in Yalta in 1944.
But these are just the anomalies of politics as was the rise of Hitler to power.
It is an often forgotten fact that he never won more than 37% of the votes in a free election. His route to power was a coalition, engineered behind closed doors, and help from the Catholic Centre Party that voted for the Enabling Law which conferred overriding powers on Hitler after he became Chancellor.