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David Page, Senior Economist at AXA Investment Managers (AXA IM), comments on Theresa May's announcement of an early general election.
Key points
- PM May announces intention to hold a general election on 8 June, subject to Parliamentary vote tomorrow. Labour opposition leader Corbyn agrees to election.
- Polls suggest likelihood that Conservatives increase their majority at the expense of Labour. This would secure government ability to deliver its vision of Brexit and reduce leverage of Tory back-benchers on other domestic issues.
- Election is not riskless for Tories. PM May gambles that UK vote will be on who can negotiate the better exit, not a re-visit of the Brexit vote (although this will remain a risk).
- Financial markets post...
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