London - British Prime Minister Theresa
May called on Tuesday for an early election on June 8, saying it
was the only way to guarantee political stability for years
ahead as Britain negotiates its way out of the European Union.
The pound strengthened by almost half a cent against the
dollar as May spoke, reflecting investor relief that earlier
rumours of a shock resignation did not transpire. Ten-year
British government bond yields rose slightly.
"I have just chaired a meeting of the cabinet where we
agreed that the government should call a General Election to be
held on the 8th of June," May said in a surprise statement
outside her Downing Street office.
"It was with reluctance that I decided the country needs
this election, but it is with strong conviction that I say it is
necessary to secure the strong and stable leadership the country
needs to see us through Brexit and beyond."
She said she would introduce legislation on Wednesday to
pave the way for the early election. Under current legislation,
the next election was not scheduled to take place until 2020.
May's Conservatives, who were split on the issue of European
Union membership ahead of last year's referendum, are currently
far ahead of Labour, the main opposition party, according to
opinion polls.
May said this was a one-off chance to get an election done
while the EU was agreeing on its negotiating position.
She said the government had the right plan to negotiate
Brexit, and there would be no change of course.