Not everyone is touched by new spirit
May 12 2010 by Andrew Hebden, The Journal
WE are living in unprecedented times politically, and not just in the sense that, nearly a week after we went to the polls, we are still - at the time of writing - no nearer knowing who will form our new government.
Among the many unfamiliar characteristics of our new politics is the spirit of cooperation exhibited between the three major parties as they wait to find out whether they will be neighbours or rivals in the new-look House of Commons.
Many people, not least those in business, will be hugely frustrated that it is has taken so long for the talks to reach some form of conclusion. But, as many commentators have remarked, we did choose to elect a hung parliament and this consensual style of politics is what we can expect in the new era.
Any comment I make on the ongoing talks risks being out of date by the time you read this, such is the fast-changing nature of the negotiations. For the good of the UK economy, however, what is clear is that a definitive outcome needs to be reached soon, especially as the eyes of global markets will increasingly be cast in our direction. There are signs that the markets are getting jittery about the stalemate in Westminster.
Even in a region where we are particularly vulnerable to the imminent swingeing public sector cuts, the fear of not knowing what lies around the corner feels as paralysing as the reality threatens to be.
And so, searching for some distraction from the 24-hour political coverage in the newsroom as we await for the proverbial white smoke to emerge from the chimney of the Liberal Democrat headquarters, I found some light relief on the Financial Times website yesterday.
I was amused to read of comments, apparently made by easyJet founder Sir Stelios Haji-Ioannou, regarding the airline’s departing chief executive Andy Harrison, who is taking the top job at Premier Inn-owner Whitbread.
“Stelios thinks Andy Harrison is over-rated,” a source “close to Stelios” told the FT, adding that the only thing that increased during his tenure at the airline was the size of his bonus and not their profits.
“Stelios feels sorry for Whitbread shareholders,” the source went on. “If Andy Harrison applies the same philosophy he will cut the dividend to zero, agree a contract to build 300 Premier Inns across the Continent and five years later the share price will be about the same.”
It seems the spirit of consensus and goodwill hasn’t extended as far as the easyJet boardroom.
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