The British Prime Minister, Gordon Brown, called today for an election on May 06, making the announcement from his residence in London after visiting the Buckingham Palace to ask Queen Elizabeth II to dissolve the Parliament April 12.
The uncertainty revolving the outcome of the election is adding negative pressure on UK markets and on the pound due to mounting expectations for a hung parliament, which will be the first in 36 years.
The 59-year-old premier will be undergoing his first nationwide test as UK leader, where the election race between his Labour Party and Conservatives is growing very tight, and according to YouGov Plc survey David Cameron's opposition leader is ahead in the polls over Labour.
The economy is the center of the general election, especially as Britain's longest recession on record and the huge deficit burden have driven Britons to the edge of their seats. Nonetheless, as the economy starts to recovery gradually and turning a page in the first quarter of this year, Brown managed to bridge the lead gap with Cameron and seemingly it will be a tough race this year till the very end.