Prime Minister
Theresa
May
called on Tuesday for an early election on June 8, saying the government had the right plan for negotiating the terms of Britain's exit from the European Union and that she needed political unity in London.
Below is a reaction from a selection of politicians and experts on politics and financial markets
Jeremy Corbyn, Leader Of Opposition Labour Party
"I welcome the Prime Minister's decision to give the British people the chance to vote for a government that will put the interests of the majority first."
"Labour will be offering the country an effective alternative to a government that has failed to rebuild the economy, delivered falling living standards and damaging cuts to our schools and NHS."
"In the last couple of weeks, Labour has set out policies that offer a clear and credible choice for the country. We look forward to showing how Labour will stand up for the people of Britain."
John Curtice, Polling Expert And Professor At University Of Strathclyde
"There is no doubt that the Conservatives are in a strong position in the opinion polls."
"That clearly would be enough to give
Theresa
May
a quite substantial majority."
"She's essentially saying the reason we need to have this (election) is because 'we need a government that has a clear majority that's committed to the version of Brexit I want'."
"There are divisions inside the Conservative Party (on Brexit). We'll see how they survive a general election, but the truth is the opposition is probably even more divided on the subject."
"And she's probably therefore banking that so long as this remains the central issue, the Labour Party will not be capable of fighting an effective alternative position."
Carolyn Fairbairn, Director General Of The Confederation Of British Industry
"Distraction from the urgent priorities of seeking the best EU deal and improving UK productivity must be kept to a minimum."
Adam Marshall, Director General Of The British Chambers Of Commerce
"Many business communities will understandably be concerned that attention will inevitably shift from the economy and the intricacies of leaving the EU to a potential election campaign.
"Firms will want to be reassured that the key challenges facing the economy will be front and centre throughout any election period."
Terry Scuoler, Chief Executive Of Manufacturing Association Eef
"We have significant negotiations to undertake with our partners in the rest of Europe and, doing this with a fresh and stable mandate from the country can only provide greater certainty about the future direction of travel for policy, and the potential to seek the best deal possible for the UK."
Malcolm Barr And Allan Monks, Economists At J.P. Morgan
"One implication of the holding of a new general election is that it
may
open up more negotiating time under Article 50."
"The point at which Brexit occurs can be moved back on the basis of unanimous agreement. With a new electoral mandate in place, a
May-led administration could expect to govern until 2022. We had always thought the need to 'deliver Brexit' before a 2020 general election meant that negotiations would not be extended in 2020 even if there was some mutual interest in doing so."
Gail Cartmail, Acting General Secretary Of Unite Union
"The country now has a choice between whether to vote for a Conservative party which is determined to pursue a hard, disastrous Brexit and is wedded to continuing with miserable austerity and destroying the rights and living standards of working people, or a Labour party which is presenting real, positive change based on a fairer economy and determined to ensure that on leaving the EU, jobs and communities can thrive."
Nicola Sturgeon, Leader Of Scottish National Party
"In terms of Scotland, this move is a huge political miscalculation by the Prime Minister."
"It will once again give people the opportunity to reject the Tories' narrow, divisive agenda, as well as reinforcing the democratic mandate which already exists for giving the people of Scotland a choice on their future."
Guy Lougher, Head Of Brexit Advisory At Law Firm Pinsent Masons
"The outcome could have a profound impact on negotiations and could signal a complete U-turn on Brexit. This will depend on who wins the election and whether they have a clear majority in Parliament."
"If the Conservatives are not re-elected with a working majority in the Commons it raises the possibility that any Brexit
may
be closer to maintaining continuity with the EU or might even be reversed."
Luke Bartholemew, Investment Manager At Aberdeen Asset Management
"The election should hand
Theresa
May
a much bigger mandate to stand up to the harder-line, anti-EU backbenchers who currently hold a disproportionate sway over her party's stance on Brexit.
"That would be welcomed by financial markets. There's also a decent chance of some volatility now with imminent elections in both the UK and France."
Tim Farron, Leader Of Opposition Liberal Democrats
"If you want to avoid a disastrous hard Brexit, if you want to keep Britain in the Single Market, if you want a Britain that is open, tolerant and united - this is your chance."
"Only the Liberal Democrats can prevent a Conservative majority."
Simon Derrick, Head Of Global Research At Bank Of New York Mellon In London
"For the moment at least it is not being seen as particularly a negative. I guess people see that this
may
give
Theresa
May
a better majority. It is a politically astute move and it should provide more stability going over the immediate aftermath of the exit from the EU."
David Cameron, Former Conservative British Prime Minister, On Twitter
"Brave - and right - decision by PM
Theresa
May."
Dean Turner, Economist At Ubs Wealth Management
"The muted response in sterling, gilts and UK equities suggests markets are savouring the possibility of much-needed clarity around the government's Brexit negotiation stance."
Alan Clarke, Economist At Scotiabank
"It's slightly unfortunate timing as Q1 GDP might be disappointing. But it will be worse later in the year so it is a 'now or never' decision."
Ig Group, Spread Betting Company
"The current prices in the markets reflect
May's and the Conservatives strong leads in polling data. They show a 90 percent chance of the Conservatives winning the most seats and an 87 percent chance of a Conservative majority.
Ladbrokes, Bookmaker
"May's change of heart has caught everyone by surprise, but it's looking hard to see Labour springing their own on June 8th with the Tories long odds-on for victory."