Theresa May calls snap general election

Prime Minister Theresa May has called a general election for June 8 as she seeks to strengthen her Parliamentary majority ahead of the negotiations to exit the European Union.

May, who has only been in office for 268 days, made the surprise announcement this morning, blaming the opposition from other political parties to her Brexit plans.

In a statement outside Downing Street, May said: “Our opponents believe that because the Government’s majority is so small, our resolve will weaken and that they can force us to change course. They are wrong.”

She added: “At this moment of enormous national significance there should be unity here in Westminster, but instead there is division.

“The country is coming together, but Westminster is not.”

The move comes despite the 2011 Fixed Term Parliaments Act which sought to remove the unpredictability about when general elections were to be held. Parliament needs to approve the early election, unusually by a two-thirds majority, and the vote will take place tomorrow.

Opposition leader Jeremy Corbyn has said the Labour Party will support the early election.

He said: “I welcome the Prime Minister’s decision to give the British people the chance to vote for a government that will put the interests of the majority first.

“In the last couple of weeks, Labour has set out policies that offer a clear and credible choice for the country. We look forward to showing how Labour will stand up for the people of Britain.”

Assuming Parliament approves, the 25-month Parliament will be the shortest since the short-lived 1974 term, which lasted between February and October.

Theresa May became Prime Minister on July 13 last year, in the wake of the EU referendum which led to David Cameron’s resignation.

Should the Conservative Party lose, she will have been in Number 10 for the shortest period – 330 days – since Andrew Bonar Law’s 211-day spell which was ended by ill-health in May 1923.

Peter Ashton, managing director of Eiger FX, said: “The political curveball delivered by the Prime Minister that a General Election will be held on June 8 provided an immediate boost to the Pound.

“The markets were quick to price in greater economic and policy stability under what they expect will be a significant majority given the weakness of the opposition.

“There is still huge uncertainty surrounding the implementation of Brexit but a strong majority party will help to provide a degree of stability while we negotiate the choppy waters ahead.”