UK's May says early election averts clash with end of Brexit talks

Yolanda Curtis
April 19, 2017

Sterling jumped as much as 1.6 percent against the dollar on Tuesday to hit its highest levels since mid-December, after British Prime Minister Theresa May surprised markets by calling for an early parliamentary election in June.

Dunt said she's taking advantage of her 20 point lead in the polls, before the economic and political effects of Brexit are felt by the public.

It could secure her a big majority and a mandate for the Brexit negotiations, the outcome of which, as well as the subsequent political impacts, is unpredictable.

"The election should hand Theresa May a much bigger mandate to stand up to the harder-line, anti-EU backbenchers who now hold a disproportionate sway over her party's stance on Brexit", said Aberdeen Asset Management investment manager Luke Bartholemew.

The pro-Brexit, right-wing newspapers portrayed her decision as an aggressive move to strengthen her hand in the talks with the 27 other European Union members and to crush her domestic opponents.

The Tory MP praised the Prime Minister and slammed those who called the election a "period of instability".

"Instead of being at the mercy of the Brexiteers, May will now get a very, very strong mandate that will allow her to negotiate a reasonable deal with the European Union", the senior official said. President of the European Council Donald Tusk tweeted out that he had a good phone call with Theresa May.

Labour, the second-largest party in Parliament, campaigned for Britain to remain in the European Union, but Corbyn said he would respect voters' decision to leave.

It is an about-face from May's earlier statements about an early election, but it is hard to blame her for wanting to go early.

'We need innovative designs and smarter procurement approaches to solving the desperate housing crisis, renewing and expanding our schools and ensuring that we have a sustainable environment that works across the United Kingdom, ' she added. He welcomes the elections and urged his supporters to vote for Labour to fix the failing economy.

The British pound has fallen amid mounting speculation that Prime Minister Theresa May is planning to call an early general election.

"When you are trying to say "I speak for Britain", you've got to get out there and listen to what Britain says back to you and argue your case".

However, both Irish and British government sources acknowledged that the decision to go for a snap election suggested that the events in Northern Ireland were not carrying a great deal of weight with Downing Street.

The Scottish National party, which has called for a second independence referendum by mid-2019, could use the election to win a new mandate for such a vote.

By this line of thinking, a strong victory for May and her Conservative Party, which is widely predicted by opinion polls in Britain, would strengthen the hand of the prime minister who personally opposed Brexit before last year's referendum.

But she has previously said she will stay in office until the next scheduled national election, in 2020.

That motion, as set out by the Fixed-Term Parliaments Act, will require a two-thirds majority of the House of Commons.

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