British pound jumps higher after election is called

Apr 19, 2017, 01:53
British pound jumps higher after election is called

"We need a general election and we need one now", May said. He said Tuesday that Labour's election platform in June would be for a more equal society and economy, and "a Brexit that works for all".

'The Prime Minister's attempt to dodge scrutiny shows how she holds the public in contempt, ' said Mr Farron.

May made the unscheduled statement outside her office and residence in Downing Street, in central London.

As part of a half-yearly update to its outlook, the International Monetary Fund lifted its forecast for British economic growth this year to 2.0 percent from 1.5 percent in January, bringing it in line with the Bank of England but above many other forecasters.

The Conservatives only have a small majority in the House of Commons, with 330 of the 650 seats.

What is significant about the Suffolk MPs is that although all of them voted Remain, all have accepted the Brexit vote and have backed Mrs May's negotiations.

"And so tomorrow I will move a motion in the House of Commons calling for a general election to be held on 8 June". Both the Conservative and Labour Party say they want to carry out last year's vote to leave the European Union, so calling off Brexit looks very unlikely. "She talks about the national interest but I can't see that this is in anyone's interest but the Conservative Party's".

The conservatives have pulled far ahead of opposition parties in consecutive polls.

We want to hear from you - will your vote be the same as in the 2015 General Election?

With the Labour opposition weakened, May's gamble will probably pay off with an enhanced Conservative majority in Parliament - but it's unlikely to unite a country deeply split over the decision to quit the EU.

International Monetary Fund chief economist Maurice Obstfeld told reporters in Washington that the snap election might create greater short-run uncertainty, but could give greater clarity afterwards about what the British people wanted to achieve from Brexit talks.

The Liberal Democrats oppose Brexit, and Farron said he would push for as strong an association with Europe as possible - a so-called "soft" Brexit - including membership of the EU's free-trade zone, the single market. "Let's stand up for Scotland", SNP leader Nicola Sturgeon said, using a colloquial name for the Conservative Party.

The Scottish National Party now holds 54 of Scotland's 59 seats in the British Parliament, making it the third-largest party there.

European Council President Donald Tusk tweeted that he had a "good phone call" with May about the election, and the council said the bloc's Brexit plans were unchanged by the announcement.

Britain has less than two years before it leaves the EU and needs to reach an agreement on future access to European markets, the destination for most of its exports, as well as set out what controls it will impose on immigration from the EU.

The party said it had gained 1,000 new members in the hour after May's announcement. At the same time, euroskeptic hard-liners will be less able to block May from offering concessions on freedom of movement and other matters she has signaled in negotiations with the EU.

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