Published On: Tue, Apr 18th, 2017

Prime Minister Theresa May Announces Early Election on June 8

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In an unexpected statement British Prime Minister Theresa May has stunned the political world on Tuesday when she called for an early election on June 8. Under current legislation, the next election was not scheduled to take place until 2020.

Theresa May is seeking a stronger mandate from the Brits in talks over leaving the European Union, saying it was the only way to guarantee political stability for years ahead as Britain negotiates its way out of the European Union.

Theresa May said in a surprise statement outside her Downing Street office: “I have just chaired a meeting of the cabinet where we agreed that the government should call a General Election to be held on the 8th of June. It was with reluctance that I decided the country needs this election, but it is with strong conviction that I say it is necessary to secure the strong and stable leadership the country needs to see us through Brexit and beyond.”
According to Reuters the pound strengthened by almost half a cent against the dollar as Theresa May spoke, reflecting investor relief that earlier rumors of a shock resignation did not transpire. Ten-year British government bond yields rose slightly.
May’s Conservatives, who were split on the issue of European Union membership ahead of last year’s referendum, have a small majority in the House of Commons, with 330 of the 650 seats. Far ahead of Labour, the main opposition party, led by Jeremy Corbyn, at record low levels, according to BBC opinion polls.

May said this was a one-off chance to get an election done while the EU was agreeing on its negotiating position.

“The government had the right plan to negotiate Brexit” She said, and there would be no change of course.

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