Surprise announcement from UK Prime Minister, Theresa May
We have seen the surprise announcement from the UK Prime Minister, Theresa May, that there is to be a snap General Election on 8th June. This decision represents a u-turn from the Prime Minister as she had previously stated that the Conservatives would not seek an early election that may cause instability during the Brexit process. However, the Prime Minister has said she had "recently and reluctantly" come to the conclusion that a vote was necessary as it would provide the country with certainty and stability following the EU referendum. A strong showing for the Conservative Party could arguably strengthen its hand in the forthcoming Brexit negotiations as well as provide the Prime Minister with a more powerful mandate within Westminster.
Whilst there are no immediate financial planning implications, we saw in 2016 the potential impact of surprising political events and despite polls prior to this announcement placing the Conservative Party well ahead of the Labour Party, it should not be taken for granted that this will be the eventual result. Depending on the outcome of the General Election, a further update will be provided following the vote.
This article is for information only, based on our understanding of legislation and HM Revenue & Customs practice as at February 2017 and is not to be taken as Financial Advice. Origen are not tax specialists and should you have any concerns with regards to your personal tax situation, we would recommend seeking advice of an accountant. CA1228 Exp 05/04/18
[ Date Posted: 19/04/2017 11:04:12 ]