Despite a bruising election result for her Conservative party, U.K. leader Theresa May will seek permission from the Queen to form a new government on Friday, according to a spokesperson from her office.
The news indicates that she will aim to continue as party leader and prime minister despite calls for her to resign. She is due to meet the Queen at Buckingham Palace at 12:30 p.m. London time.
With the bulk of seats declared in the General Election, no party has gained a clear majority. However, Sky News reported Friday morning that the Conservatives have already contacted the DUP (Democratic Unionist Party) and agreed a coalition deal.
By 9:40 a.m. London time, May’s ruling Conservative party had won 317 seats while the opposition Labour Party, led by Jeremy Corbyn, had 261 seats. Meanwhile, the Scottish National Party (SNP) had won 35 seats, the Liberal Democrats were at 12 and the Democratic Unionist Party had secured 10. Voter turnout was at 68.7 percent, according to the BBC.
After winning his seat back in Islington, North London, early on Friday, 68-year-old Corbyn called for May to step down.
“People have said they have quite enough of austerity politics,” he said in a speech. “The PM called this election because she wanted a mandate. Well, the mandate she’s got is lost Conservative seats, lost votes, lost support and lost confidence.”
Meanwhile, Nigel Farage, the former U.K. Independence Party (UKIP) leader, has also called for her resignation. “May has failed. She absolutely has to go,” he said on Twitter on Friday morning. Farage has also indicated that he would feel forced to launch a political comeback if Brexit was under threat.
U.K. bookmakers had speculated overnight who the next prime minister could be. At one stage, the odds that Corbyn could take the leadership shortened dramatically but his Labour party now looks resigned to staying in opposition. Other names from the ruling Conversative party were also put forward, including Foreign Secretary Boris Johnson. However, with May traveling to Buckingham Palace on Friday an immediate leadership challenge looks unlikely.
Despite her resilience, May will lead a weakened government and could face pressure from both left-leaning and right-wing lawmakers. She will find it harder to push through any new rules and legislation.
Reacting to the news, Paul Donovan, the chief economist at UBS Wealth Management, said that the U.K. result is unlikely to provide “strong and stable leadership.”
“There is a risk of Euroskeptics gaining more influence. Expectations of a further election before the end of the Parliament must be high,” he said in a note on Friday morning.