After having repeatedly suggested that she was not interested in asking the UK voters to give her a mandate as Prime Minister, on 18th April Theresa May announced that there would be a General Election on 8th June. The machinations of contemporary politics mean that so many key announcements are leaked in advance, however this one took markets by complete surprise. Despite this though, could it be that this is one of the most predictable general elections in living memory? We look at the key factors to be aware of during the campaigning, the polling, the key stances of the major parties and what the outcome could be. We also analyse the reactions on major financial markets and why we should still be concerned by the outcome for the snap 2017 UK General Election.
Why is the election being held now?
This can depend upon your political standpoint. Theresa May said that she wanted Westminster to not stand in her way of Brexit negotiations and for that reason, she called an early election. Her opponents claim opportunism with a disruptive and divided Labour Party, in addition to going back on her word. Furthermore, critics also suggest that the part of Westminster standing in her way were actually the hard line Brexiteers on her own backbenches.
Realistically the reasons are varied but are mainly for Mrs May to gain control over her party: