Market Research and Analysis

Daily News
May refuse to resign, will get on with the job
British Prime Minister, Theresa May

The photo shows the British Prime Minister, Theresa May.

British Prime Minister, Theresa May had resisted calls to resign and had stated she is getting on with the job on Sunday, after the result of the election ended up with her losing the majority and a hung Parliament declared.


During her interview with Sky News, May denied being shocked about losing the parliamentary majority and stated instead she is feeling that there is a job to be done and the public would want to ensure that the government is getting on with the job.


When questioned about whether she would serve a full term as the prime minister, she stated that like she had said during her campaign, she intends to serve a full term if reelected. However, she added, her current action is actually getting on with the immediate job.


May had announced her new cabinet over the weekend and there are no changes among her top team. Damian Grey, former work and pensions secretary however, had been named the first secretary of state and her deputy.


She had also appointed Michael Gove as the environment and agriculture minister after sacking him as the justice minister less than a year ago.


However, two of her top aides, Nick Timothy and Fiona Hill have resigned. Both had served May as her co-chief of Staff and had been targeted upon by members of the Conservatives Party for their party’s poor result at the polls on Thursday.


The new government is to present their legislative programme to parliament on June 19 and May and the Conservatives are rushing to secure their position after losing the majority with just 318 out of 650 seats in the House of Commons.


May hopes to win the support of Protestant Democratic Unionist Party (DUP) in Northern Ireland who had won 10 seats in the election.


According to DUP leader, Arlene Foster, she and May had very good discussions so far and she would be going to London on Tuesday to meet May.


Defence Secretary, Michael Fallon stated that they are not looking at forming a formal coalition with DUP instead seek a so-called confidence and supply deal where they would vote on key votes such as the budget, defence issues and Brexit.

Risk Warning:

There is a substantial risk of loss in trading commodity futures, option and off-change foreign currency products.
Read our General Risk Disclosure.