Britain may be heading for hung Parliament

Prime Minister Theresa May could lose control of parliament in Britain'sJune 8 election, according to a projection by polling company YouGov, raising the prospect of political turmoil just as formal Brexit talks begin.

The claims have been made by Castle Point Labour candidate Joe Cooke, which come as a seat projection by pollster YouGov suggested that the United Kingdom could be heading for a hung parliament, with Labour making gains and Theresa May's Tories suffering losses.

Despite the Labour fightback, the Conservative Government still dominates all United Kingdom 2017 betting markets outright, with a Tory "Most Seats" victory heavily backed at 1.07 (93% of outcome).

The Daily Telegraph newspaper's rolling average of the last eight polls put the Conservatives on 44 percent, Labour on 36 percent, the centrist Liberal Democrats on eight percent and the anti-EU UK Independence Party (UKIP) on five percent.

YouGov used a complicated method to work out its latest figures, not based on a single poll, but on the responses of 50,000 people who have taken part in other YouGov polls.

That would have uncertain consequences for Britain's $2.5 trillion economy, and future government policy on everything from government spending and corporate taxation to bond issuance.

May will be seeking to regain the upper hand for her party before voters take to the polls to vote for the new government in the general election on June 8th.

As a result, the pound trimmed some of its losses to trade 0.1% lower against the dollar for the session.

In a speech on Tuesday in Wolverhampton in central England, home to one of the Conservatives' target seats, the prime minister sought to pivot the debate back to Brexit.

The Tories would still be the largest party in a hung parliament even if Labour finished ahead of them in the share of the vote.

Ed Miliband, the former Labour leader, who suffered a disastrous result at the 2015 election despite predictions of a hung parliament, replied to the research on Twitter.

May revealed her party manifesto on May 18 and has since come under fire for proposed reforms to social care and school funding.

A survey conducted by YouGov for The Times has suggested that Theresa May may fall short of a majority, in a shocking blow to the Conservative party.

The Conservatives have now raised £9.5m during the General Election campaign, compared to £3.4m for Labour.

However, it has a very wide margin of error, saying the Conservatives could get anywhere between 274 and 345 seats meaning they could also increase their majority.

  • Zachary Reyes