Nigel Farage becomes MP in Clacton and leads Reform UK into the election

Nigel Farage has announced his return to the frontline of politics, standing as a candidate for MP in Clacton, Essex, and his leadership of the Reform UK party. Farage’s return comes as the election campaign intensifies and major parties unveil their key promises.

In his announcement, Farage vowed to lead a political uprising, criticizing the current state of the country and the impact of immigration on housing and living standards. “I intend to lead a political uprising. Nothing in this country works anymore. We are in decline. This can only be turned around with courage,” he said. He positioned Reform UK as the ‘voice of the opposition’, following on from its central role in the Brexit referendum.

Farage’s move adds a new dynamic to the election, with his participation in the first seven-person debate of the campaign, hosted by the BBC. The debate will feature key figures including Penny Mordaunt, Angela Rayner and representatives from other major parties. The debate, moderated by Mishal Husain, will start at 7:30 PM and will last 90 minutes.

Farage explained that his decision to stand as a candidate was influenced by conversations with disillusioned voters who urged him to stand. He expressed guilt for not standing up for these individuals, saying, “I couldn’t help but feel like I was letting them down.”

Launching his campaign tomorrow afternoon, Farage aims to reinvigorate political discourse and address the concerns of those who feel neglected by the current political class.

Economic responses and expert opinions

John Choong, senior equity research analyst at Investing insiders noted: “While the FTSE has yet to react to the news, government bond yields fell slightly as a result of the announcement. While markets like a hung parliament because policies are harder to implement, giving investors and traders more certainty, current polling shows this is unlikely to happen as Labor is on course for a landslide victory within a month. That said, a lot can change in a month, and there’s always the possibility that the polling data is wrong. If a reform and conservative coalition is indeed formed, there is a possibility that markets will respond more favorably to that outcome than a Labor majority. After all, the previous coalition government between Cameron and Clegg generated a return of 7.6% per year, higher than any Tory Prime Minister in the 2000s apart from Sunak. Furthermore, Labor’s performance since 1986 has been dismal, with a negative return of -0.2% per year when they were in power between 1997 and 2010.”

Daniel Wiltshire, actuary and IFA at Wiltshire wealth added: “This news will not move the markets. A Labor victory is already priced in and it only adds to the argument that the Tories are toast.”

Farage’s return marks an important moment in British politics, with potential implications for the election outcome and future government policy. As the campaign progresses, his influence and the reaction of voters and markets will be closely watched.