GM Thought of the Week
Theresa May calls for a General Election
As of 18th April 2017, Theresa May has issued a motion in the Commons calling for a General election to take place in less than 2 months’ time: June 8th 2017.
The key reason for this decision appears to be that her opponents may jeopardise the Brexit negotiations, so an election will help regain control and allow for some level of unity in Westminster.
In contrast to previous elections with the short turnaround time it will mean that each party only has a short period of time to campaign before the election takes place.
By contrast the 2015 general election it was the most expensive in history: the Conservatives raised £38m and Labour £32m. Across the previous recorded year of 2016, it is understood that Labour have raised £21.7m, the Conservatives £19.5m, Lib Dems £6.425m and Scottish National Party £1.5m. So will this have an effect on the outcome whereby Labour may have more of a lead because of the financial backing?
Potentially not the case….following a string of recent polls conducted in March by the Electoral Calculus with a base of 10,000 votes, The Conservatives are in the lead which will make good reading for Theresa May. This was further backed up by a YouGov poll for the Times which put the Conservative lead at 17% ahead of Labour with 42% of the votes.
As of this morning, following the announcement of the election, the pound has jumped to a 10 week high against the dollar so calling a surprise election during Brexit negotiations and with nearly 2/3 of the vote following Labours backing, this is looking like a beneficial move by the Prime minister.
Lauren Coombs, Acting Managing Director.
Source: The Guardian/ The Financial Times