UK Opposition Labour Leader Corbyn Calls For PM May To Stand Down

The Evening Standard editor, who was sacked from the Cabinet by Mrs May when she took office last July, told ITV: "Clearly if she's got a worse result than two years ago and is nearly unable to form a government then she, I doubt, will survive in the long term as Conservative party leader".

"Even if she retains the leadership, she's lost credibility in the eyes of Brussels in the lead-up to the Brexit negotiations, so she's in a far worse position", said Lemahieu.

"MAYHEM" screamed the headline in the tabloid Sun newspaper. "Britain on a knife edge", said the Daily Mail.

Sky News predicted the Conservatives would score somewhere between 315 and 325 seats.

The SNP's leader in Westminster Angus Robertson lost his seat to the Conservative Douglas Ross, who won 48 per cent of the vote.

Brexit talks were scheduled to start on June 19 but could now be delayed, a source of major uncertainty and concern for investors. "These exit polls have been wrong in the past".

The pound shed as much as three USA cents at one point in hectic trade, or close to 2 percent, before steadying as the results waxed and waned.

Britain is definitely heading for a hung parliament, with the Conservatives tipped to fall short of the 326 majority needed.

An exit poll after Thursday's general election forecast that May would lose her overall majority after calling an election that she meant to strength her grip on parliament.

This election, however, is complicated by that fact that Britain's European Union exit negotiations are set to being on June 19 and, without a government in place, May simply does not have the mandate to represent Britain in Brussels.

While the upcoming Brexit process was the catalyst for the vote, British citizens may be more concerned with security after recent terror attacks in both London and Manchester that killed a total of 30 people and injured dozens more. Even if the Tories squeak a majority, it looks like Theresa May is toast, adding yet more uncertainty. Some critics nicknamed her "the Maybot".

In Halifax in northern England, voter Alicia Milner, 20, said: "A lot of my family aren't voting, which I'm shocked at, just because they're tired of, exhausted by government".

May, who surprised the country in April by calling the snap election, was re-elected from Maidenhead.

Corbyn told supporters at his final rally that Labour's campaign had "changed the debate and given people hope".

Shadow foreign secretary Emily Thornberry said Labour "could form the next government" and would attempt to do so as a minority government if results allowed, rather than seeking to form a coalition with other progressive parties like the Lib Dems.

"If the poll is anything like accurate, this is completely catastrophic for the Conservatives and for Theresa May", said Osborne.

If there is a message from tonight's result, it's this: the prime minister called the election because she wanted a mandate.

In her first campaign as party leader, Prime Minister May faltered badly. The Liberal Democrats, who had formed the previous coalition government with the Conservatives, have ruled out forming a coalition this time round, making other parties such as the SNP and Wales Plaim Cymru, potential partners. They were close to wiped out in the 2015 election.

The pound fell sharply after an exit poll in Britain's election forecast that the Conservatives would fall short of a majority in parliament, raising the prospect that the country might not have a clear victor or strong government as it starts its negotiations to leave the European Union.

This essentially throws Britain's politics into turmoil while potentially disrupting the Brexit negotiations.

The key question would be this - could the Tories continue pushing for a hard Brexit, defined as a free trade deal with the EU outside the single market, the customs union and the free movement of workers?

It also proposed raising taxes for the richest 5 percent of Britons, scrapping university tuition fees and investing 250 billion pounds ($315 billion) in infrastructure plans.

  • Joanne Flowers