Keep calm and carry on: election result must not derail industry

For the second time in seven years, the UK has woken up to the prospect of a hung parliament following the results of yesterday’s general election.

PM Theresa May announced the election on April 18, 2017 when her ruling Conservative Party had an opinion poll lead of 20 points over Labour.

With a small majority in the House of Commons, May sought to reinforce the Conservative Party’s position ahead of Brexit negotiations.

“It was with reluctance that I decided the country needs this election but it is with strong conviction that I say it is necessary to secure the strong and stable leadership the country needs to see us through Brexit and beyond,” May said. “Let us remove the risk of uncertainty and instability and continue to give the country the strong and stable leadership it demands.”

With 318 seats, the Conservatives remain the largest party in Parliament but they don’t have enough seats to form a majority government and must now seek partners to form a coalition, with Northern Ireland's DUP looking the most likely option.