UK election hangs in balance in disastrous night for PM Theresa May

MediaNewsShameless last day for the British media Jack Peat

MediaNewsShameless last day for the British media Jack Peat

British Prime Minister Theresa May's Conservative Party today suffered a major blow in the snap election after it failed spectacularly to maintain its majority in the parliament, creating new uncertainties ahead of the Brexit negotiations.

Britain's news media says Theresa May has no intention of giving up the post of prime minister even though her Conservative Party lost its majority in the House of Commons in Thursday's general election.

Alistair Campbell, Labour prime minister Tony Blair's former spokesman and a strong European Union supporter, said: "This election is a rejection of May and hard Brexit".

"Clearly if she's got a worse result than two years ago and is nearly unable to form a government, then she, I doubt, will survive in the long term as Conservative Party leader".

In ten days, Britain is scheduled to begin its crucial negotiations with Europe that are meant to work out the terms of Britain's exit from the European Union.

Mr Farron held on to his Westmorland & Lonsdale seat in Cumbria on a much-reduced majority, down from 8,949 in 2015 to just 777 now.

Political deadlock could derail negotiations with the other 27 European Union countries ahead of Britain's exit from the bloc, due in March 2019, before they even begin in earnest.

For Corbyn, the ruling party's losses showed voters had "turned their backs on the politics of austerity".

"As we prepare for government, we have already changed the debate and given people hope", he said.

You won't believe this deaf singer's 'America's Got Talent' audition
Harvey soon came to rely on muscle memory and visual tuners, learning to trust her pitch and successfully dive back into her music. "I certainly tried.

Ahead of the election, traders were "heavily stacking their cards in favor of a landslide victory for Theresa May when pricing in the United Kingdom election", said Jameel Ahmad, vice president of market research at FXTM, in a note.

Japanese bank Nomura said that based on the exit poll and on the results in the first two constituencies to declare, its election model suggested the Conservatives would end up winning 331 seats, a slim majority.

"If she had got the majority she wanted, she would have been a supreme political colossus", he said. "She's a zombie prime minister".

"While some have argued that a softer Brexit might ameliorate the downside, there is still the prospect of the contents of the Labour party manifesto", said Michael Hewson, chief analyst with CMC Markets in London. The opposition Labour Party, led by Jeremy Corbyn, was projected to win 266 seats.

May had spent the campaign denouncing Corbyn as the weak leader of a spendthrift party that would crash Britain's economy and flounder in Brexit talks, while she would provide "strong and stable leadership" to clinch a good deal for Britain.

Alex Salmond, the SNP's former leader and the former head of Scotland's devolved government, was among those who lost their seats, along with the leader of the SNP's lawmakers in the London parliament, Angus Robertson.

Labour leader Jeremy Corbyn's pledge to abolish university tuition fees was seen as having been key to encouraging a strong turnout among young voters, many of whom threw their weight behind the party.

Their former leader Nick Clegg, who was deputy prime minister during the coalition years, said the party would not prop up a Conservative government. They've more than doubled their returns in some places where the party was previously unelectable.

Latest News