UK Election Debates Won't Feature The Prime Minister

British Prime Minister Theresa May says the result of the country's upcoming national election is "not certain" despite the fact that polls suggest her Conservative Party is heading for a landslide victory.

May also said that a commitment from the Conservatives to spend 0.7 per cent of national income on foreign aid would remain, following speculation that it would be scrapped in the Conservatives manifesto for the new election.

London is expected to finish Brexit negotiations before March 29, 2019.

May hit back that Labour offered only "bankruptcy and chaos", but denied she was complacent, saying: "We will be out there fighting for every vote".

A new poll put the centre-left party 24 points behind Prime Minister Theresa May's Conservatives, a seemingly insurmountable challenge ahead of election day on June 8.

The vote came after George Osborne announced that he intends to quit as an MP and after a Prime Minister's Questions session in which Mrs May and Jeremy Corbyn engaged in fiery clashes.

That said, although he is a notoriously poor media performer, Mr Corbyn's first major election speech yesterday showed a bit more focus and energy and will be regarded as a reasonable start.

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The Brexit coordinator also took issue with the timing of the election, calling it a "powergrab" created to "take advantage of a Labour party in seeming disarray to secure another five years of power before the reality of Brexit bites".

The lawmakers approved the proposal, 522-13, after 90 minutes of debate to move the election up three years in a bid by the Conservative Party to expand its role in government and give better clout in negotiating Brexit.

There is a strong case for a second referendum on EU membership as demanded by the Liberal Democrats and the Greens, that can be put as follows: if people had known that: (a) nearly all fellow Europeans already in Britain would continue to reside in the United Kingdom; (b) immigration would only be cut by 15%; and (c) there would be no extra £350 million a week for the NHS, would a majority have voted for Brexit? To maintain control of her backbenchers, she has decided that Britain should head for the hardest Brexit possible, without inclusion in the single market or customs union.

On Thursday, Mrs May will hold talks with Antonio Tajani, president of the European Parliament, which will have to approve any final UK-EU Brexit deal.

The election announcement caused a rally in the pound, which had fallen since the Brexit vote, amid speculation that May will be returned with a stronger mandate.

The views expressed herein do not constitute research, investment advice or trade recommendations and do not necessarily represent the views of all AB portfolio-management teams.


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