Hung parliament: How markets are reacting to tightening polls
- Author: Zachary Reyes Jun 04, 2017,
Jun 04, 2017, 14:40
According to BBC, opinion polls and analysts are suggesting that Labour leader Corbyn is accelerating to surpass May's lead.
However, until now no poll has suggested that the Conservatives could lose their majority in parliament.
Pollsters such as ICM and ComRes, which have the Conservatives' lead in double digits, share the Conservative candidate's view of young voters' motivation.
A failure to win the election with a large majority would weaken May just as formal Brexit talks are due to begin, while the loss of her majority in parliament would pitch British politics into turmoil.
Britain's pollsters are more dramatically divided about the outcome of this election than ever before, with the latest poll from Panelbase putting the Conservatives 15 points ahead of Labour, while YouGov on Thursday put the Tory lead at just three points.
Sterling has been bearing the brunt of increasing market tension in the build up to the election and dropped to a five week low on Wednesday morning, after a YouGov poll showed the ruling Conservative party will fall short of winning a majority.
Theresa May's first major task as prime minister was to negotiate Brexit, but her party only had a small majority in Parliament. That marks a big shift from the 20-point advantage the Conservatives had in April when the election was called. Further worry will be added by figures released Thursday which show the U.K.is now the worst-performing advanced economy in the world, with growth slumping to just 0.2 percent in the first three months of the year.
"If I lose just six (seats) then the government loses its majority and we risk Jeremy Corbyn becoming prime minister".
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.
"It's worth remembering that polling figures have been varying widely in the past few weeks, and also that polls significantly overstated Labour's position heading into the last general election", it said, in a note to investors.
"The only poll that matters is the one that's going to take place on June 8", she said on a campaign visit to Plymouth in southwest England.
But she hit back saying the electorate had to choose between May's "strong and stable" leadership or a "coalition of chaos" led by Corbyn and formed with the other parties at the debate. Brexit compelled Cameron to leave as he wanted to stay in EU.