May gets the go-ahead for 'snap' United Kingdom election

"The likely possibility of Prime Minister Theresa May strengthening her party's majority as a result of the general elections on 8 June has alleviated some hard Brexit fears, with markets now pricing in a softer Brexit ending", said FXTM research analyst Lukman Otunuga.

The leader of the main opposition Labour Party, Jeremy Corbyn, pressed May in Parliament Wednesday to take part in a televised debate ahead of the election, but May maintained she had no interest in doing so.

Highlighting policies which will be at the heart of the party's manifesto, Mr Corbyn said: "I want a Labour government that builds council housing", he said.

They also say that a big victory for May will dilute the influence of those lawmakers pushing for a "hard Brexit" as well as strengthening May's overall negotiating stance.

MPs voted by 522 votes to 14, a majority 509, after debating the proposal in parliament.

Britain's benchmark stock index dipped into negative territory for the year on Wednesday, as investors worry that a stronger pound saps the foreign-based revenues for numerous FTSE 100's multinational companies.

Corbyn will accuse the Conservatives of presiding over "seven years of broken promises" on wage growth, funding for the National Health Service and schools, and on environmental protections. The Labour MP for Middlesborough South said "irreconcilable differences" with the party's leadership had led to his decision. "We look forward to showing how Labour will stand up for the people of Britain".

Mr Corbyn retorted: "We welcome the general election but this is a Prime Minister who promised there wouldn't be one, a Prime Minister who can not be trusted. The choice at this election is already clear".

The House of Commons has voted in favour of Prime Minister Theresa May's plans for a snap general election on 8 June.

"With the Brexit negotiations expected to finish in March 2019, it would take away the pressure of a general election coming up in 2020".

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She claimed a large Conservative majority would strengthen the Government's hand in getting a good Brexit deal and provide "strong and stable leadership in the national interest".

It had been hoped talks could start by the end of that month, but EU Commission spokesman Margaritis Schinas said Wednesday that "the real political negotiations" with Britain would not start till after the June 8 election.

Melanie Leech, chief executive of the British Property Federation, said the election should give whoever wins a clear mandate to negotiate the future relationship with the EU.

"So trying to get the parties to focus on other issues will be futile and businesses should instead push to see what they would take to the negotiating table in terms of new trade deals with the European Union and access to skills".

Standing in Downing Street before a packed press gallery, May said Britain needed stability and strong leadership at this time. She said the political divisions "risk our ability to make a success of Brexit".

Liberal Democrat leader Farron said that broadcasters should hold debates anyway, with an empty chair in May's place.

She said: "This is a UK-wide election that will have major implications for Scotland, and only Labour or the Tories can form the next government". UKIP no longer has any Members of Parliament.

Mr Williams said: "Despite the concerns about more uncertainty, the macro impact on the United Kingdom economy of the election is unlikely to be too dramatic".

The question is whether Jeremy Corbyn's current poll ratings act as a counter-balance to what will presumably be a much-stronger Labour local campaign than two years ago.

He added: "She could also become more unbending; we don't know".

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