Conservatives in danger of losing majority

Associated Press

LONDON

British Prime Minister Theresa May’s gamble in calling an early election appeared Friday to have backfired spectacularly, after an exit poll suggested her Conservative Party could lose its majority in Parliament.

If confirmed, the result would lead to a period of political uncertainty and could throw Britain’s negotiations to leave the European Union into disarray. The pound lost more than 2 cents against the dollar within seconds of the announcement.

As results trickled in from hand counts of ballots, all parties urged caution in reading too much into the exit poll. During the last election, in 2015, the Conservatives did better than the exit poll predicted. Conducted for a consortium of U.K. broadcasters by interviewing voters leaving polling stations, it is regarded as a directional, but not exact, indicator of the result.

The survey predicted the Conservatives would get 314 of the 650 seats and the Labour Party 266. It projected 34 for the Scottish National Party and 14 for the Liberal Democrats.

That result would confound those who said the opposition Labour Party’s left-wing leader, Jeremy Corbyn, was electorally toxic. Written off by many pollsters, Labour surged in the final weeks of the campaign.

It also would put pressure to resign on May, who called the snap election in the hope of increasing her majority and strengthening Britain’s hand in exit talks with the European Union.

“If the poll is anything like accurate, this is completely catastrophic for the Conservatives and for Theresa May,” former Conservative Treasury chief George Osborne said on ITV. “Clearly if she’s got a worse result than two years ago and is almost unable to form a government, then she, I doubt, will survive in the long term as Conservative Party leader.”

Ed Balls, a former Labour Treasury chief, said it would hurt May’s negotiating position with Europe.