UK General Election 2017: No party secures a clear majority
In the UK General Election 2017, no party has gained a clear majority. The bulk of seats are declared and the U.K. faces a hung parliament.
According to the latest reports, Prime Minister Theresa May has won 315 seats in comparison with 261 seats of Labour Party. The reports are received by By 8:00 a.m. London time. The Labour Party led by Jeremy Corbyn asked for the resignation of Prime Minister. Reports also showed that Scottish National Party (SNP) has won 35 seats. Other results are that Liberal Democrats won 12 and Democratic Unionist Party get 10 seats. It is noticed that the turnout of voters are 68.7 percent.
The total number of seats are 650 and a party is required to get 326 seats to secure a parliamentary majority. This means, the country is now facing political negotiations between parties. The situation is a hung parliament, where multiple parties would make a coalition government. The political deadlock has put May’s political future in doubt. Moreover, the situation is also expected to hurt upcoming Brexit negotiations.
In the Asian trade, the British pound dropped. Now it slipped below the $1.27 handle and now it is at multi-month low. The pound is now down over 2.2 percent and continuing to fluctuate. At 8:00 am against the dollar, the pound is traded at $1.2665.
Labour Party leader Jeremy Corbyn called for May to step down. He said that after winning his Islington, North London seat back. The Prime Minister called this general election, as she wanted a mandate in parliament. SNP leader Nicola Sturgeon called the results disastrous for the Theresa May, but she also expressed her disappointment over the performance of party.
May gave a clear statement in her speech that the country needs stability more than anything else. This statement has a link to the comments of parties over the terror attack incidents, when both Labour Party and Conservative Party accused each other of the weaknesses.