Rishi Sunak announces date for general election – London Business News | Londonlovesbusiness.com

The Prime Minister has made an announcement from the steps of Downing Street that there will be a general election on 4 July.

The Westminster rumour mill has been speculating there will be a summer election and this announcement comes as inflation numbers are now down.

On Tuesday the International Monetary Fund (IMF) has said that the UK economy will have a “soft landing” as it is growing faster than expected.

On the back of the IMF’s announcement and inflation having fallen the Prime Minister will be using this as an attempt to win the election.

The Prime Minister called his Cabinet for a meeting on Wednesday afternoon and there has been long discussions in Downing Street today.

Sunak has called the general election at a time when the Conservative Party is some 20 points behind Sir Keir Starmer.

A senior Tory MP said the atmosphere in the tea room in Downing Street is total “panic” as rumour swirl of an election.

A senior Tory MP said that calling a general election now is “madness” whilst another said “everyone is mortified.”

Reports out today have suggested that three MPs submitted letters of no confidence in Sunak to Sir Graham Brady, the Chair of the 1922 Committee.

52 MPs or 15% of Conservatives would have to send letter of no confidence before the Tories could hold a leadership contest.