Those who relish the business of business are constantly looking for angles and weighing imponderables. At this point the great uncertainty is the outcome of the general election. Some are speculating in the full sense of the word; wily entrepreneurs have always had an eye for possible changes of government when timing deals, and many with an in-built suspicion of Labour have been quietly fixing interest rates on their borrowings.
Paradoxically, concerns that a change of government could be imminent work against the Conservatives. The chancellor's hope of a resurgent economy later this year rests in large part on the long-awaited upturn in capital investment. But cautious businessmen are unlikely to commit substantial investment until the result of the election is known. If Labour is elected, a second paradox could then unfold. With the worst of the uncertainty removed, business might at last embark on the requisite capital spending and so give the new regime a flying start.