May wins election but loses majority

British Prime Minister's Conservatives projected to be largest party but fall just shy of the threshold needed to form a majority.

Arutz Sheva Staff , | updated: 05:04

Theresa May
Theresa May

British Prime Minister Theresa May's Conservative is projected to win the parliamentary elections but fall short of a majority.

An updated forecast from the BBC released early Friday morning said that the Conservatives would win 322 seats, four shy of the the 326 threshold needed to form a majority.

The updated forecasts gave the Labour party, led by Jeremy Corbyn, 261 seats.

Exit polls released shortly after polls were closed gave the Conservatives 314 seats, with the Labour party winning 266. The Liberal Democrats won 14 seats in those polls, while the UKIP did not win any.

The polls closed at 10:00 p.m. Britain time on Thursday evening (midnight Israel time). The final results are expected by Friday afternoon.

Soon after the exit polls were made public, the Liberal Democrats said they would make "no pact, no deal, no coalition" with either Labour or the Conservatives in the event of a hung parliament.

On the flip side, Conservative Defense Secretary Michael Fallon cautioned against reading too much into projections "before we have had a single actual result", according to the BBC.

Labour's John McDonnell agreed that it was too early to call the result, but added that if the poll was correct it would "change the nature of politics" in the UK.

Corbyn, for his part, did not express disappointment at the results, tweeting, “Whatever the final result, our positive campaign has changed politics for the better.”

Meanwhile, the pound fell sharply in value after the exit poll was published to as low as $1.27, down about two and a half cents from its level late on Thursday.

Elections in Britain take place according to a district majority method, whereby each district receives one MP.

The candidate receiving the most votes in his or her district goes on to represent the district in parliament. The method makes it relatively easy for the larger parties to obtain an absolute majority in parliament.

The elections took place following a series of terror attacks in Britain in recent weeks.

The two recent major attacks were those in Manchester two weeks ago, where 22 people were killed in an explosion following an Ariana Grande concert. Another attack took place on Saturday night at the London Bridge, where seven people were murdered.