U.K. Prime Minister Theresa May called for an early election on June 8, seeking a personal mandate and parliamentary backing to take her through Brexit talks. The pound surged. The Conservatives have a 21-point poll lead and May — who became prime minister without an election — is betting she can extend the slim parliamentary majority her predecessor won in 2015. May said the existing schedule for an election in 2020, just after the deadline for an exit deal with the European Union, posed a threat to a successful Brexit. The pound strengthened to the highest this year on the expectation that May will be able to extend her majority and silence critics on both wings of her party. An election victory may also make it easier for the government to make concessions in EU talks, and could reduce the risk of the U.K. leaving without a deal, according to Eurasia Group.
… Unlike almost all her predecessors, May cannot simply ask the queen to dissolve parliament and call an election. A 2011 law passed by Prime Minister David Cameron during his coalition government with the Liberal Democrats means there are two circumstances in which there could be an early election: If two-thirds of the House of Commons votes for one or if the government loses a no-confidence vote and a new administration fails to win a confidence motion within 14 days.
In her statement May said she was taking the first course of action. “Tomorrow I will move a motion in the House of Commons calling for a general election to be held on the June 8,” she said. Her office said that if this is passed, Parliament will dissolve on May 3.
Full Article: May Chases an Early U.K. Election in Gamble for Brexit Unity – Bloomberg.