Boris Johnson’s Conservative party has won a resounding overall majority in the United Kingdom’s snap general election. Johnson remains prime minister and should now be able to get his Brexit deal through parliament. It was the party’s most successful election since the 80s.
Jeremy Corbyn, leader of the main opposition Labour Party, announced he would not be heading another election campaign after a disastrous night.
The Lib Dem leader Jo Swinson and the DUP Westminster leader Nigel Dodds have lost their seats.
British Prime Minister Boris Johnson said things seemed to be going in the right direction when he arrived to hear the result of his own electoral vote in the west London seat of Uxbridge, an ITV reporter said.
I think this will turn out to be a historic election that gives us now, in this new government, the chance to respect the democratic will of the British people, to change this country for the better and to unleash the potential of the entire people of this country,” he added at the vote count in his London constituency of Uxbridge and South Ruislip.
Official results can be seen below:
The Conservatives’ performance points to a major reconfiguration of Britain’s political map and paves the way for Johnson to take the UK out of the EU by the end of next month, as he has repeatedly pledged to do.
David Mercer, CEO, LMAX Exchange Group, commented on the market reaction to General Election result:
The financial markets clearly appreciate the clarity this result has provided. Whilst there will likely be plenty of negotiations ahead, the UK government can now at least proceed with policy rather than being hamstrung by inertia.
Sterling rallied strongly immediately on the polls and has sold off slightly in the intervening hours after the realisation that the promise of ‘getting Brexit done’ may still be a protracted process. The FX market was orderly overnight – a far cry, but a welcome relief, from the dislocation seen after the shock of the Brexit referendum result and erroneous polls in 2016.