×

CCTV Script 07/05/15

— This is the script of CNBC's news report for China's CCTV on May 7, Thursday.

Welcome to CNBC Business Daily, I'm Qian Chen.

So the most contentious election in recent British history, culminates in today's vote.

And it pits two "personality challenged" candidates against each other.

The current prime minister, the Conservative Party's David Cameron, and Labour Party leader Edward Miliband.

Adam Posen, President of Peterson Institute for International Economics, told CNBC it will bring risk to foreign direct investment in UK if the conservative party wins.

[Adam Posen, President of the Peterson Institute for International Economics] "If they continue their commitment to hold a referendum in 2017 on Brexit, or renegociation with the EU, that would put a huge damper on foreign direct investment in the UK, as well as people willing to sight munufacturing and other products there."

However, if Labour Party wins...

Rising tax...

This is what analyst Colin Chapman has to say.

[Colin Chapman, Founder, Australian and South East Asian Strategies] "It means these non doms will have to pay some tax rather than almost no tax. We are talking about off-shore earnings here. It's gonna be a very difficult long-term thing to make effective. So I don't think this is gonna happen overnight. The thing that's gonna threaten people just as much as that is the mansion tax, the tax on the very expensive property which these people and many others in London live."

And then we have the so called king makers....these three here.

The Nick Clegg, the leader of the Lib Dems, and the current Deputy Prime Minister-- because remember at the last election, the Tories and the Lib-Dems formed a coalition government, after no party secured an outright majority.

And then... Brexit man Nigel Farage of UK Independence Party -- or UKIP.

He could split conservative votes in some key constituencies.

But the one everyone's watching is Nicola Sturgeon of the Scottish Nationals.

The SNP, which just a few months ago led the charge to dissolve Great Britain, is poised to sweep most, if not all, of Scotland's 59 seats in the British Parliament.

And this makes them very important in case of a hung parliament.

CNBC's Qian Chen, reporting from Sinagpore.

==========

GUEST LT:

ESWAR PRASAD, Senior Professor of Trade Policy, Cornell University


Follow us on Twitter: @CNBCWorld