COMMENT: ICSM Credit’s Ian Carrotte hopes for a decisive result in the USA election as ‘we’ve got enough economic uncertainty as it is’

COMMENT: ICSM Credit’s Ian Carrotte hopes for a decisive result in the USA election as ‘we’ve got enough economic uncertainty as it is’

With the pandemic cutting a swathe of redundancies, liquidations and business failures through the economy, the uncertainty of a looming no deal with the EU on January 1, plus the worst recession since the 1980s what we don’t want is a contested USA election.

Those are the views of ICSM Credit’s Ian Carrotte who is frustrated by the leaders of the free world with the way they are handling the economy.

“Both the democrats and the republicans have lined up teams of lawyers to argue over every last ballot paper if the result is close,” he said. “the idea that the result could be decided in the courts and thus delayed for weeks is the last thing we need. We’ve got enough economic uncertainty as it is.”

He said the old adage of when America has a cough Britain catches a cold is as true as ever – especially now we are no longer in the EU.

“I hope whoever wins the US election gains a clear mandate as uncertainty is bad for business,” he continued. “And there is the small matter of trying to negotiate a trade deal with America. I don’t have a favourite but we do need stability in the world markets as many of ICSM members import and export to the USA.”

In terms of the economy Trump has promised an income tax cut and said he will issue tax credits to incentivise American firms to keep jobs and manufacturing in the USA. Meanwhile Biden said he will increase income tax for the very rich to fund public services and up the minimum wage to $15.

“It’s a different system to the UK,” explained Ian Carrotte. “To win you need the electoral college votes of each state which are roughly in proportion to each state’s population. In total you need 270 out of the 500 or so on offer to win with the biggest states like California and Florida vital due to their large populations and number of college votes.”

He said there should be a fairly good idea of who is in the lead by breakfast time UK time on Wednesday.

About ICSM Credit

ICSM Credit has more than four decades of experience as a credit intelligence group whose members gain inside information about firms in trouble allowing them to avoid bad debts and rogue traders. To join costs less than a tank of fuel - while at the moment there's a special free temporary membership offer during the Covid-19 crisis which gives access to free legal letters. ICSM also has an effective debt collecting service which has a global reach - ask for details from Paul.

For details about ICSM Credit call 0844 854 1850 or visit the website or email Ian at on how to subscribe and to join the UK’s credit intelligence network to avoid bad debts and late payers. Follow ICSM Credit on FaceBook, Twitter and YouTube and Ian Carrotte on LinkedIn.

To keep up to date subscribe to the FREE ICSM Credit Newsletter to hear all the latest insolvency news and to see who has gone out of business click on the orange panel on the top left of the home page of the website or send an email to

For details for the work of the journalist Harry Mottram visit

Tel 0844 854 1850 ___ Fax 01454 327 355
Privacy Policy   © ICSM All Rights Reserved