Phillip Wickenden: The political map has been redrawn

'The market is not pricing personalities. It is pricing discipline'

clock • 6 min read

The local elections did not change the tax code - they changed the probability distribution sitting underneath every long-range plan, writes Phillip Wickenden

Eight weeks ago, in this publication, I argued that Gorton & Denton was not the by-election it looked like. Not a slap, not a tantrum, not the kind of mid-term wobble that gets over-interpreted for forty-eight hours. It was, I suggested, a structural fracture - Labour's old coalition unbundled by two opponents at once. Reform on the culturally conservative flank. The Greens on the progressive one. The old red umbrella no longer keeping both electorates dry. The local elections were the test of whether that diagnosis travelled. It did. In England, Labour lost more councillors than it n...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Advised clients want more personal investment communication

Advised clients want more personal investment communication

Four in ten say comms focused more on product than goals

Jenna Brown
clock 12 November 2026 • 3 min read
How economic abuse manifests itself in pensions, mortgages and protection

How economic abuse manifests itself in pensions, mortgages and protection

Second in a three part series

Shelley Read
clock 11 November 2026 • 5 min read
Celtic FP founder launches online admin platform for advisers

Celtic FP founder launches online admin platform for advisers

‘Developed by people who understand the industry’

Jenna Brown
clock 10 November 2026 • 2 min read