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Sunday 09th of May 2010
May 7, 2010    

Hung parliament looking increasingly likely

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by Kay Murchie
”Hung

There is further economic uncertainty today after a hung parliament looked increasingly likely in the early hours of Friday.

The news sent the pound falling by 1.5 cents overnight, from above $1.51, to trade as low at $1.4596 at one point - a 12-month low.

A hung parliament (in which no one political party has an outright majority) would make it harder to pass legislation and undermine a fragile UK recovery.

The last time an election produced no overall Government majority was in 1974, when Harold Wilson was forced to create a minority Labour Government.

According to Sky News, the latest projection puts the Conservative Party on course to win 309 seats, followed by Labour on 259 and the Lib Dems at 54.

The estimated result would see the Tories missing out on the 326 MPs needed for an overall majority by 17 seats.

However, there is certain to be public outrage at the result after hundreds of people were turned away from polling stations across England last night, following a higher than expected turnout.

Voters in London, Sheffield, Newcastle, Manchester and Birmingham were left queuing outside polling stations, even after they closed at 2200 BST.

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Tags: , , , general election, , , majority, , uncertain