British prime minister calls snap general election

British Prime Minister Theresa May has called a snap general election for 8 June.

She made the announcement in Downing Street after a cabinet meeting.

With a Commons working majority of just 17, and a healthy opinion poll lead over Labour, senior Tories have suggested Mrs May should go to the country in order to strengthen her parliamentary position.

Such a move would also give a mandate both for her leadership and her negotiating position on Brexit before talks with the European Union start in earnest.

Justifying the decision, Mrs May said: “The country is coming together but Westminster is not.”

She said the government has a right plan for negotiating with European Union.

She said they need unity in Westminster, but instead there is division.

From RTE.

The current 5-year fixed term should run to 2020, and will require a 2/3’s vote in Parliament to progress. This may cause significant heartburn in Labour circles in Britain!

The FT Index fell on the news.

 

 

Author: Martin North

Martin North is the Principal of Digital Finance Analytics

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