It’s a hung parliament. Conservatives has 318 seats, with only one left to be declared, and therefore cannot reach the 326 seats they need to form a majority government. Tories are in talks with the DUP to form a majority government and May will visit the Queen to propose this. May is reportedly refusing to step down as Tory party leader. The number of people registered to vote is higher than the 2015 general election.

LONDON – It is a hung parliament. Prime Minister Theresa May’s Conservative party has only secured 318 seats. There is one more seat to declare but it is impossible for the Tories to gain a majority by itself.

In order for a party to get a clear majority in government, it would have to claim 326 seats, out of 650.

Labour has done surprisingly well and the Tories have stumbled. Both the opposition and people within the Conservative party are calling for May to resign as prime minister. However, she is reportedly going to refuse to resign and is working on a coalition deal with the DUP to keep the party in power.

There are 46.9 million people registered to vote – a rise from the 2015 general election number of 46.4 million.

This was originally a live blog from 9.30 p.m. BST on June 8 until 12.30 p.m. BST, written by Lianna Brinded. The new live blog on the general election fallout from 12.30 p.m. BST is here.

1225 - MAY HEADS TO BUCKINGHAM PALACE

Prime Minister Theresa May is heading to Buckingham Palace to talk to the Queen about potentially forming a coalition government with the DUP.

buckyp1

Foto: source BBC

1215 - BRITAIN'S CREDIT RATING COULD BE SLASHED BY 2 AGENCIES

BI's markets reporter Will Martin writes:

"Two major ratings agencies have warned that the UK's creditworthiness faces a downgrade following the shock failure of the Conservative Party to win a majority in Thursday's general election.

"Both Moody's and Standard & Poor's issued statements on Friday morning saying they will reassess the UK's credit rating going forward after the result of election took an unexpected turn."

Read the full article here.

1205 - HERE IS A RECAP OF THE KEY NUMBERS IN THE GENERAL ELECTION

There is only one seat left to declare, Kensington, but here are the results:

Conservatives: 318 (seats), 13,650,900 (votes), 42.4% (vote share).

Labour: 261, 12,858,652, 40%.

SNP: 35, 977,569, 3%.

Liberal Democrats: 12, 2,367,048, 7.4%.

Green Party: 1, 524,604, 1.6%.

UKIP: 0, 593,852, 1.8%.

DUP: 10, 292,316, 0.9%

1145 - SENIOR SOURCE IN THE TORY PARTY TELLS BI WHY TORIES LOST SO MANY SEATS

BI's politics editor Adam Bienkov writes:

Theresa May's 'dementia tax' and her record on police cuts were crucial in convincing target Conservative voters that she could not be trusted with their vote, a senior Conservative campaign insider has told Business Insider.

"It completely unnerved the very Brexiteers we called the election for," the source said, speaking on the condition of anonymity, in the wake of May's failure to win an overall majority in the general election.

Read the full story here.

1129 - SHOCK RESULT LEADS TO SCHADENFREUDE

https://twitter.com/AsherGoldman/status/873055612254302208

1120 - JONATHAN BARTLEY, CO-LEADER OF THE GREEN PARTY: DUP PROPPING UP TORIES SHOWS HOW RIDICULOUS THE ELECTORAL SYSTEM IS

bbcelec1

Foto: source BBC

Bartley pointed out to the BBC that the UK's electoral system needs to change considering how the DUP has only 10 seats and 292,316 votes, yet it could prop up the Tories to form a majority government.

1116 - "THE POUND IS SET FOR A ROCKY RIDE IN THE MONTHS AHEAD"

Daniel Harden, Head of Desk at foreign exchange specialists Global Reach Partners said in a statement:

"This snap election has not only back-fired politically for the Prime Minister, it has also resulted in more turmoil on the currency markets. The Pound fell by around two per cent against the US dollar when markets opened today. Earlier it sank to its lowest level in more than a month in Asia while stocks within UK-exposed companies were among the worst performers in that region's markets.

"This is hardly the strong and stable outcome Ms May had envisaged and is a huge contrast from seven weeks ago when Sterling surged with the markets anticipating a bigger Conservative majority when the election was initially called. With Brexit talks now set to begin in earnest and Ms May saying she will hang on as Prime Minister, at least for the time being, the Pound is set for a rocky ride in the months ahead."

1111 - BORIS JOHNSON SEEMS TO BE STEPPING UP EFFORTS TO GAIN LEADERSHIP

Pundits place Secretary of State for Exiting the European Union David Davis and Foreign Secretary Boris Johnson as the only viable contenders for Tory leadership - should May resign or be ousted.

While earlier reports placed Johnson in talks with party members, sounding out his viability for a leadership bid, the latest reports show he is stepping up that effort:

1045 - UKIP WILL HAVE ITS 4TH CHANGE IN LEADERSHIP IN A YEAR

Paul Nuttall standing down as UKIP leader after the the party won 0 seats in the general election. All eyes are on who is taking over. Former leader Nigel Farage could possibly be in the running:

https://twitter.com/willmartin19/status/873112498504818688

1030 - PAUL NUTTALL STANDS DOWN AS UKIP LEADER AFTER UKIP WON 0 SEATS

nuttallgenelec1

Foto: source BBC

Paul Nuttall has announced he is standing down as leader of UKIP, after failing to secure a seat in the House of Commons.

Nuttall announced he is standing down in a speech on Friday morning.

1023 - EXIT POLLS PROF CURTICE: "REMINDER, LABOUR STILL LOST THIS ELECTION"

curtice1

Foto: source BBC

He said that despite the shock support for Labour, it has lost and it lost as badly as Gordon Brown did. He also mentions how Corbyn has been a campaigner for 40 years but has still yet to prove he can reach the prime minister position.

1012 - MAY GOING TO BUCKINGHAM PALACE AT 1230

May is going to Buckingham Palace to tell the Queen that it's possible for the Conservatives to do a coalition with the DUP.

1007 - ONLY ONE SEAT LEFT TO BE CALLED

Out of 650 seats, Britain awaits just the Kensington seat to be called - which is going through a recount as only 35 votes are in it. Here is the tally:

CONSERVATIVES: 318

LABOUR: 261

SNP: 35

LIBERAL DEMOCRATS: 12

DUP: 10

1001 - BRITAIN WON'T BE ABLE TO STOP THE CLOCK ON BREXIT TALKS

Michel barnier

Foto: sourceReuters

BI UK's senior reporter Ben Moshinsky writes:

"The UK may need to stop the clock on negotiations to leave the European Union while it sorts out a political mess, a JPMorgan analyst said, but the EU might seek to keep the original timeline.

"Meanwhile Michel Barnier, the EU's chief Brexit negotiator said that the "timetable and EU positions are clear," hinting at keeping the March 2019 deadline for the UK's exit.

"Under Article 50 of the Lisbon Treaty, the two parties, which begin talks in less than two weeks, have until the end of Autumn 2018 to agree on complex issues such as new trading arrangements, how much money is owed and the status of UK and EU nationals living abroad."

Read the full story here.

0950 - NIGEL EVANS: "WE DERAILED AND HIJACKED OUR OWN CAMPAIGN"

election1

Foto: source BBC

Conservative MP Nigel Evans says the Tories "hijacked" and "derailed" their own campaign once they launched their manifesto.

He said that the Tories spent most of their days explaining, re-clarifying, and defending their manifestor rather than properly campaigning.

He reiterated that he still supports May and that she has claimed 43% of the vote and in other times, this amount has led to a landslide victory for some.

0942 - KENSINGTON SEAT MAY NOT COME IN UNTIL TOMORROW

BBC are reporting that there are only 35 votes in it and in one of the recounts, Labour was leading. However, the constituency is pausing and doing another recount.

0932 - 2 MORE SEATS TO GO

CONSERVATIVES: 317

LABOUR: 261

SNP: 35

LIBERAL DEMOCRATS: 12

DUP: 10

0922 - EU'S CHIEF BREXIT NEGOTIATOR HINTS THAT IT'S PUTTING BREXIT NEGOTIATIONS ON HOLD

0859 - 3 MORE SEATS TO GO

CONSERVATIVES: 316

LABOUR: 261

LIBERAL DEMOCRATS: 12

SNP: 35

DUP: 10

0844 - CORBYN: "WE ARE READY TO LEAD THIS COUNTRY"

corbyn3

Foto: source BBC

Labour leader Jeremy Corbyn spoke to the BBC about Labour's shocking result and what happens next:

"What we were elected to do is to put forward a plan, which is about ending austerity in Britain, which is supporting our national health and social care services, and is about improving the lives of people in this country."

When asked if he was trying to form a coalition to form a majority in government, he responded:

"We are ready to serve this country, which is what we fought the election for. This is the programme we put forward in the election."

When it was highlighted by the interviewer that Corbyn previously said "no deals," in relation to forming a coalition with any party, he said:

"We're offering the programme that we put forward in the election. We have done no deals and no pacts with anybody."

0838 - CITI EXPECTS MAY TO RESIGN

Prominent journalists are all reporting that May will refuse to step down as PM but investment bank Citi says it thinks the prime minister will step down:

"A period of political uncertainty lies ahead. As a default, Theresa May would stay as PM and the Conservatives attempt to form a government, possibly supported by Northern Ireland's Unionist parties."

"However, following what is widely regarded as a poor campaign and failure to translate a strong lead in the polls into a larger majority in the Commons, we expect May is likely to resign."

Read more here.

0826 - THIS IS HOW MARKETS ARE REACTING TO THE NEWS

gbp

Foto: source Investing.com

BI's market reporter Will Martin writes:

"The City of London, which had widely been preparing for a Tory majority, was shocked by the result, with the pound dropping sharply as an exit poll showed that the party would fall short.

"Away from the pound, market reaction has so far been reasonably muted, with the FTSE 100 actually opening a little higher and safe haven assets like gold little moved."

Read more here.

0820 - REPORTS: TORY AND DUP TALKS OF A COALITION HAS STARTED

0819 - STILL 4 SEATS TO GO

CONSERVATIVES: 315

LABOUR: 261

SNP: 35

LIBERAL DEMOCRATS: 12

DUP: 10

0755 - HUGE BUSINESS LOBBY GROUP CBI: BUSINESSES WILL BE "STUNNED" BY THE RESULT

Carolyn Fairbairn, CBI Director-General, said in a statement:

"This is a serious moment for the UK economy. The priority must be for politicians to get their house in order and form a functioning government, reassure the markets and protect our resilient economy.

"Politicians must act responsibly, putting the interests of the country first and showing the world that the UK remains a safe destination for business. It's time to put the economy back to the top of the agenda.

"For the next Government, the need and opportunity to deliver an open, competitive and fair post-Brexit economy that works for everyone across all our nations and regions has never been more important.

"This can only be achieved if the next government doesn't put the brakes on business, remains open to the world and sets out a pro-enterprise vision.

"Firms will support the UK develop our inclusive, innovative and open economy. More than ever, the new Government must work together with business to make the most of the opportunities ahead. Firms can provide the evidence, ideas and solutions from the shop, office and factory floor to secure our future prosperity."

0740 - IT LOOKS LIKE MAY WILL REFUSE TO RESIGN

Huge anticipation for May making a speech at 10 a.m. BST today. Many thought she would announce her resignation. However, three prominent journalists tweeted that May will refuse to resign:

0730 - 5 MORE SEATS TO GO

CONSERVATIVES: 314

LABOUR: 261

SNP: 35

LIBERAL DEMOCRATS: 12

DUP: 10

0719 - ZAC GOLDSMITH RECLAIMS THE RICHMOND SEAT FROM THE LIB DEMS

0700 - TORIES ARE THE LARGEST PARTY BUT ONLY A FEW SHORT OF A MAJORITY

0650 - ALL SEATS NEARLY COUNTED

CONSERVATIVES: 313

LABOUR: 260

SNP: 35

LIBERAL DEMOCRATS: 12

DUP: 10

0637 - SCOTLAND WAS A SUCCESS FOR THE TORIES

0632 - SNP WINS FIFE NORTH EAST BY JUST 2 VOTES

0620 - THE POUND HAS BEGUN TO STABILISE

Sterling dropped sharply on Thursday evening after the exit poll initially showed that no party would win a majority in the House of Commons. At its lowest, the pound hit 1.2722 against the dollar, a fall of around 2%.

But it has now begun to stabilise:

POUND ELECTION1

Foto: source INVESTING.COM

0613 - WHAT IS A HUNG PARLIAMENT?

A hung parliament is when no party gains a majority of 326 out of 650 seats.

Confused about what a hung parliament means for Britain? Check out our guide here.

0608 - CAROLINE LUCAS HAS RETAINED HER SEAT IN BRIGHTON AS THE UK'S ONLY GREEN MP.

She increased her majority too, getting over 30,000 votes.

0557 - LABOUR'S SHADOW FOREIGN SECRETARY SAYS: MANIFESTO "CHANGED THE CAMPAIGN"

Emily Thornberry wrote a reaction for The Guardian to Labour's shock surge in support.

Here is an excerpt from the article:

"I haven't met anyone, whether on the doorstep or in the media, who thinks the Conservatives' campaign has been anything other than terrible. Empty, shambolic and at times deeply unpleasant - despite the prime minister saying she would refrain from attacking Jeremy personally. A U-turn that she U-turned on. It was sometimes hard to keep up and just emphasised again that you can't trust a word the Tories say."

0546 - TURNOUT IS FORECASTED TO BE AT HIGHEST SINCE THE GENERAL ELECTION SINCE 1997

Only 27 seats left to declare out of 650 in total.

Turnout is running at the highest for a UK general election since 1997 at at 68.6%.

0530 - IT'S A HUNG PARLIAMENT

621 out of 650 seats have been counted and while the Conservatives are in the lead, it looks highly unlikely they're going to secure enough seats for a Tory majority (326):

CONSERVATIVES: 299

LABOUR: 255

SNP: 34

LIBERAL DEMOCRATS: 12

DUP: 10

0514 - BBC UPDATES ITS FORECAST AGAIN

CONSERVATIVES: 318, - 13

LABOUR: 262, + 30

SNP: 35, - 21

LIBERAL DEMOCRATS: 13, + 5

0512 - LATEST TALLY

CONSERVATIVES: 292

LABOUR: 250

SNP: 34

LIBERAL DEMOCRATS: 11

0500 - IT'S LOOKING INCREASINGLY LIKELY MAY WILL HAVE TO STEP DOWN

Theresa May

Foto: source Photo by Andrew Parsons - Pool/Getty Images

BI UK's deputy editor Lianna Brinded writes:

When Theresa May took over as Prime Minister in July last year, the Conservatives had a majority of just 12 seats. If she had carried on as she was, the Tories would have stayed in power for another three years, until the next scheduled election in 2022.

But Britain's vote for Brexit, and lawsuits against the triggering of Article 50, surfaced disagreements within her own party about what type of Brexit deal Britain should go for. Having a greater majority would give her the strength to push her proposals through.

The polls said the Tories were unbeatable. Even in the initial part of the campaign, the polls were all in favour of a landslide Tory majority. Labour was nowhere.

But the unthinkable has happened - it looks like it's going to be a hung parliament. Her party will not have enough seats to secure a majority.

May has bulldozed the Tories out of sole power and now the autopsy of her performance begins:

Corbyn, whose Labour party is having a surge in support, called for May to step down.

Tory MP Anna Soubry told the BBC:

"That is a matter for her. It's bad. Even if she stays, she will have an extremely difficult time patching together a functioning government.

"If she goes, it sets up the stage for yet another general election later this year.

"It's an absolutely extraordinary situation, for a prime minister who is technically winning most seats to not be in a position to make a victory speech."

We still have a few seats to go but whatever the outcome May has taken the Conservative party out of power and put it in a worse position than it could ever have imagined.

She does, however, have many supporters:

0446 - LABOUR HOLDS BARROW & FURNESS BY JUST 200 VOTES

Earlier on in the polls, before voting, it looked like Labour would lose its seat to the Conservative party. However, after a recount, Labour's John Woodcock beat the Tories:

0445 - BBC UPDATES ITS FORECAST

550 results now declared. BBC updated its prediction:

[Seat change since 2015]

CONSERVATIVE: 316, - 15

LABOUR: 265, + 33

SNP: 34, - 22

LIBERAL DEMOCRATS: 13, + 5

0441 - CONSERVATIVES ARE GAINING GROUND

CONSERVATIVES: 268

LABOUR: 238

SNP: 33

LIBERAL DEMOCRATS: 10

0438 - LABOUR'S HARRIET HARMAN FOR PECKHAM AND CAMBERWELL SAYS SHE UNDERESTIMATED CORBYN

0435 - MAYOR OF LONDON TWEETS HIS CONGRATS TO LABOUR'S SARAH JONES TAKING OVER LONDON'S MOST MARGINAL SEAT

0425 - LATEST TALLY

CONSERVATIVES: 247

LABOUR: 229

SNP: 33

LIBERAL DEMOCRATS: 10

0420 - FORMER SNP LEADER ALEX SALMOND LOSES SEAT

0414 - LOOKS LIKE DAVIES HAS HELD HIS SHIPLEY SEAT

Conservative's Philip Davies has held onto his Shipley seat after all.

0411 - IT'S NECK-AND-NECK BETWEEN LABOUR AND THE TORIES

CONSERVATIVE: 225

LABOUR: 222

LIBERAL DEMOCRATS: 10

SNP: 31

0408 - BARROW & FURNESS STILL RECOUNTING

barrow3

Foto: source Business Insider/Adam Payne

0405 - LABOUR TAKE LONDON'S MOST MARGINAL SEAT - CROYDON CENTRAL

Labour's Sarah Jones beats Gavin Barwell in Croydon Central and Labour claims more scalps from the Tories.

0404- MAY'S MEDIA SUPPORTERS ARE TURNING ON HER

0400 - BARROW & FURNESS ARE RECOUNTING - THERE ARE ONLY AROUND 200 VOTES IN IT

BI's politics reporter Adam Payne writes:

"In Barrow-in-Furness it's starting to get light but it looks like we're going to be here for at least another hour, as we are having a re-count. I've been told all night that it's going to be a tight contest in this Cumbrian marginal and tight it is. There was just 207 votes separating incumbent Labour MP John Woodcock and his Tory challenger Simon Fell. It was Woodcock who was leading by 207 votes, I'm told."

0354 - HERE IS THE SPEECH MAY MADE AFTER RETAINING HER SEAT

May won by a big majority in her seat but across Britain, the Conservatives are bleeding support. Here is part of her speech after the results:

"At this time, more than anything else, this country needs a period of stability. And if, as the indications have shown, and this is correct, that the Conservative party has won the most seats, and probably the most votes, then it will be incumbent on us to ensure that we have that period of stability and that is exactly what we will do ...

"As we ran this campaign, we set out to consider the issues that are the key priority for the British people: getting the Brexit deal right, ensuring that we both identify and show how we can address the big challenges facing our country, doing what is in the national interest. That is always what I have tried to do in my time as a member of parliament and my resolve to do that is the same this morning as it always has been.

"As we look ahead and wait to see what the final results will be, I know that the country needs a period of stability. And whatever the results are the Conservative party will ensure that we fulfill our duty in ensuring that stability so that we can all, as one country, go forward together."

0350 - LABOUR AND TORIES ARE NEARLY NECK-AND-NECK ON SEATS

Conservatives: 191

Labour: 198

Liberal Democrats: 10

SNP: 27

0347 - THE BARROW AND FURNESS SEAT IS HAVING A RECOUNT

0344 - LORD BUCKETHEAD AND MR FISHFINGER GOT A FEW HUNDRED VOTES

For those reading from outside the UK - yes, these candidates are real. Across various constituencies, people put up ridiculous characters for election as a protest vote:

Here is Mr Fishfinger:

And in the Prime Minister Theresa May's constituency, Lord Buckethead:

https://twitter.com/LordBuckethead/status/873006103562473474

0338 - TALLY SO FAR

Conservatives: 176

Labour: 189

Liberal Democrats: 26

SNP: 9

0336 - BBC REPORTING LABOUR TAKES A SEAT THAT HAS BEEN TORY CONTROLLED SINCE WWI

BBC says Labour is taking the Canterbury seat from the Tories

0322 - PRIME MINISTER THERESA MAY RETAINS HER SEAT

may4

Foto: Britain's Prime Minister Theresa May and her husband Philip arrive at the count centre for her seat for the general election in Maidenhead, June 9, 2017. source Reuters

    Conservatives, 37,718. UKIP 871. Lord Buckethead 249. Lib Dems 6,540. Monster Raving Loony party, 119. Animal Welfare party, 282.

She said in a speech that "the country needs a period of stability."

Here is her speech on video:

Britain needs a "periodof stability," Theresa May says https://t.co/kIL5tjGjHZ #GE2017 pic.twitter.com/uWELHFT835

https://t.co/kIL5tjGjHZ#GE2017pic.twitter.com/uWELHFT835June 9,2017

0317 - THE TALLY SO FAR

LABOUR: 161

CONSERVATIVES: 149

LIB DEMS: 4

SNP: 25

0307 - LABOUR LEADER JEREMY CORBYN WINS HIS SEAT BY A LANDSLIDE

Corbyn undoubtedly smashed the count for the Islington North seat:

    Labour: 40,086 Conservative: 6,871 Lib Dems: 4,946 Green Party: 2,229

Corbyn said in his acceptance speech: "People have had enough of austerity politics. I am very proud of our campaign and our manifesto. People are voting for hope and hope for the future."

He also called on Theresa May to resign.

0303 - LABOUR CANDIDATE FOR BERMONDSEY AND OLD SOUTHWARK SPEAKS TO BI

BI's politics editor tells us:

"I've just spoken to Neil Coyle, Labour's candidate in Bermondsey and Old Southwark where the Lib Dems had hoped to bring back Simon Hughes to his old seat. The result is due in around an hour's time and is set to be pretty clear cut in Labour's favour according to party sources here. Coyle has been very strongly critical of Jeremy Corbyn in the past but he praised his 'cool, calm, collected' approach to the election campaign and said that the manifesto he had presented had been a big hit with Labour voters in his seat.

"He told me he was pleased when he saw the manifesto as it was one that "clearly works for the people of southwark" who he said are fed up with police cuts, NHS cuts and growing wealth inequality.

"I spoke to Coyle just after it was announced that Labour had taken former Lib Dem leader Nick Clegg's seat in Sheffield Hallam. The cheers from Labour activists here almost took the roof off.

"The Lib Dems look to be on course for a mixed night, falling short against Labour in London but making some gains in Scotland. However, Simon Hughes hopes of returning to his long-held Bermondsey seat now look dashed for good."

0259 - FOREIGN SECRETARY BORIS JOHNSON RETAINS HIS SEAT

Boris Johnson

Foto: source Manish Swarup/AP

Johnson was re-elected in Uxbridge and Ruislip South.

0258 - CABLE REGAINS HIS SEAT IN TWICKENHAM

0253 - HUGE GAINS FOR LABOUR

0247 - NICK CLEGG LOSES HIS SEAT

Nick Clegg

Foto: source Leon Neal/Getty Images

Former Deputy Prime Minister and Liberal Democrat leader Nick Clegg has just lost his parliamentary seat.

0242 - LATEST TALLY

Labour: 100

Conservatives: 75

Liberal Democrats: 1

SNP: 13

0240 - BBC'S NATIONAL SEAT PREDICTIONS

Remember, a party needs 326 seats to win a majority:

Conservatives: 322 seats, -9

Labour: 261, +29

Liberal Democrats: 13, +5

SNP: 32, -24

0235 - HOME SECRETARY AMBER RUDD CALLS FOR A 3RD RECOUNT

rudd1

Foto: source REUTERS

The Conservative party's home secretary is worried about losing her East Sussex seat.

0225 - LABOUR'S NEIL COYLE IS ALL SMILES IN SOUTHWARK

BI's politics editor Adam Bienkov updates the latest news from Southwark:

"A beaming Neil Coyle is walking around Southwark town hall embracing activists and shaking hands. Labour activists are cheering as the party wins big majorities all over the capital. Both Liberal Democrats and Conservative activists are very downbeat here. Labour look to be clearing up across London."

0024 - CORBYN WON'T BE DRAWN INTO IF HE THINKS HE'LL BE NEXT PRIME MINISTER

Jeremy Corbyn arrives at thecount in Islington North, refuses to be drawn on whether he will benext PM pic.twitter.com/UdJ4KtTTpx

pic.twitter.com/UdJ4KtTTpxJune 9,2017

0220 - ANGUS ROBERTSON IS OUT

Angus Robertson

Foto: source Jeff J Mitchell / Getty

Robertson, deputy leader of the Scottish National Party, just lost his seat to the Conservatives in Moray.

0214 - LABOUR'S WOODCOCK: RESULTS SO FAR ARE "A GREAT CAUSE FOR HOPE"

Labour candidate for Barrow & Furness, John Woodcock, tells BI's politics reporter Adam Payne:

"This is an extraordinary night. I don't think anyone can yet say what they think is going to happen but it just shows that British politics is wide open. And I think that's a great cause for hope for the future at a time when many progressive people have been disheartened and even despairing."

0210 - BIG SWINGS TO LABOUR

Labour on 55 seats to Conservatives' 34:

0201 - CORBYN IS NOW FAVE TO BE NEXT PRIME MINISTER

Smarkets betting exchange says a "remarkable election night means Labour leader Jeremy Corbyn is now favourite on the to be the next Prime Minister. Graph below shows Theresa May's tumble from a near-90% favourite to 38% in the last few hours:"

smarkets1

Foto: source Smarkets

"PM after election: Corbyn 41%, May 37%, Other 22%:"

0157 - TORIES TAKE AN SNP SEAT IN ANGUS, SCOTLAND

Conservatives take a seat from the SNP, which it has held since before the 2015 general election.

0152 - MORE RESULTS ROLL IN ...

Labour on 32 and Conservatives on 22. SNP on 4.

0149 - LABOUR IS IN A "JUBILANT MOOD" IN BERMONDSEY

BI's politics editor Adam Bienkov reports from the Bermondsey and Old Southwark seat:

"Labour activists in jubilant mood here. They think they've won easily and extended their majority. Simon Hughes unlikely to be returned to his old seat."

0144 - TORIES WORRIED ABOUT LONDON'S MOST MARGINAL SEAT - CROYDON CENTRAL

Sources tell BI that the Tories are worried about London's most marginal seat - Croydon Central - where Conservatives' Gavin Barwell only won by 165 votes in 2015.

Labour candidate Sarah Jones was a former Head of Campaigns at Shelter, and campaigned for more affordable housing and support for homeless families, as well as the NHS.

0142 - TOM WATSON: "PEOPLE VOTE FOR HOPE"

Key excerpts from Watson's speech:

"We did better than they said we would...people responded well to Jeremy Corbyn's honesty, candor and energy, just as they saw Theresa May run away from holding herself to account'

'Theresa May's authority has been undermined. She is a damaged PM who may never recover.

"May said she was a bloody difficult woman. She's turning out to be a woman finding it all too bloody difficult."

0140 - "CORBYN HAS BEEN UNDERESTIMATED BY EVERYONE, RIGHT FROM THE BEGINNING"

BI UK's editor-in-chief Jim Edwards writes:

Corbyn's machine went direct to its core constituency: Young people and former Labour voters who were alienated by Tony Blair.

"Jeremy Corbyn has been underestimated by everyone, right from the beginning. Underestimated by moderates in the Labour party who - twice - refused to believe he could lead and win. Underestimated by the opinion pollsters who routinely put him 20 points or more behind Theresa May's Conservatives. And underestimated by the traditional media who simply assumed he was this century's Michael Foot (the Labour leader in the 1980s who led the party to one of its worst results).

"Behind all that, Corbyn's machine went direct to its core constituency: Young people and former Labour voters who were alienated by Tony Blair. He went direct to them on Facebook and Twitter, gathering audiences that vastly exceed those who watch the BBC or read the Daily Mail. The turnout in this election has been a huge factor in Corbyn's favour: It looks as if the young have come out to vote in unexpected numbers.

"And it has all paid off. Corbyn has rallied his supporters and confounded his critics. He won't be dismissed quite so easily from now on."

0135 - CONSERVATIVES TAKE ANOTHER SEAT

Tories add another seat to reach 11, while Labour leads with 23.

0131 - DEPUTY LABOUR LEADER TOM WATSON HOLDS HIS SEAT

He holds West Bromich East.

Other results that have come in:

0130 - LABOUR ON 21 SEATS TO CONSERVATIVES' 9

0124 - MAYOR OF LONDON'S FORMER SEAT - TOOTING - RESULTS ARE IN

LABOUR: 34,694

CONSERVATIVES: 19,236

LIBERAL DEMOCRATS: 3,057

0121 - RUDD: "I AM HOPEFUL BUT NOT COMPLACENT"

Britain's home secretary is defending her seat in East Sussex and told the BBC that she's "hopeful but not complacent."

0116 - CORBYN: "WE HAVE ALREADY CHANGED THE FACE OF BRITISH POLITICS"

Labour leader Jeremy Corbyn issued a statement:

"I'd like to thank all our members and supporters who have worked so hard on this campaign, from door knocking to social media, and to everyone who voted for a manifesto which offers real change for our country. Whatever the final result, we have already changed the face of British politics."

0114 - TORIES TAKE ITS 7TH SEAT

0109 - MORE RESULTS FLOOD IN

For Wrexham, which the Tories hoped to gain:

    Labour: 17,153 Conservative: 15,321 Plaid Cymru: 1,753 Lib Dem: 865

Others:

0103 - THE LATEST FROM SWING SEAT BARROW & FURNESS

barrow2

Foto: source Business Insider/Adam Payne

BI's politics reporter Adam Payne writes:

"Labour activists in Barrow town hall have a spring in their step. 'I'm more confident now than I was at lunchtime,' one tells me, with a smile on his face. Meanwhile, up the Cumbrian coast, Labour has held onto Workington, and the party is confident of taking back the Copeland seat that it lost just five months ago in a by-election. On Copeland: turnout there is roughly 20% higher than at the February by-election. That is stunning."

0056 - LATEST SEAT COUNT

Conservative: 5

Labour: 10

Reminder on exit polls:

    Conservative (314 seats, -17) Labour (266 seats, +34) Liberal Democrats (14 seats, +6) SNP (34 seats, -22).

0048 - LABOUR WINS A KEY SEAT IN DARLINGTON

If Tories hoped for a substantial majority, winning Darlington would be a bellwether seat to see if they were able to do this. The Conservatives lost:

0045 - LABOUR WINS IT'S 8TH SEAT, IN WORKINGTON

0037 - THE SEAT TALLY SO FAR

Labour: 7

Conservative: 5

Latest from Basildon & Billericay, Nuneaton, Middlesborough, and Broxbourne:

0035 - FORMER LIB DEM LEADER PADDY ASHDOWN: "I SUSPECT MAY IS TOAST"

Paddy Ashdown, who served as Leader of the Liberal Democrats from 1988 until August 1999, tells ITV: "I shouldn't be surprised if the Tories just clipped it and got a majority by a small margin. I suspect Ms May is toast."

0030 - POUND IS STILL PLUNGING ON HUNG PARLIAMENT FORECAST

Pound 12.20am election night

Foto: source Investing.com

0026 - KETTERING AND NEWCASTLE UPON TYNE NORTH RESULTS IN

0020 - LABOUR SEEMS CONFIDENT IN HOLDING TAKING A NUMBER OF SEATS TORIES AND SNP

0015 - LABOUR'S EMILY THORNBERRY SAYS MAY "HAS FAILED"

Emily Thornberry told the BBC about what she thinks about Prime Minister Theresa May:

"She basically wanted to stamp out the opposition … and the country has said 'no' and the country has looked to the Labour party and we have put forward a positive alternative … so she has failed.

"It looks tonight like we could form the next government.

"It would then be up to them [smaller parties] to explain to their constituents … why they let the tories back in.

"There are no coalitons, there are no deals, either the conservatives will be the minority government … or Labour will be the minority government."

0007 - CORBYN HAS ARMED GUARDS OUTSIDE HIS HOME

Jason Farrell from Sky News reports that the "armed guards were always due to be here overnight."

0001: TORIES AND LABOUR OUTPERFORM EXIT POLLS

The Swindon North results showed an 11% increase in Labour vote in Swindon. This is an outperformance of the exit poll:

2358 - SWINDON NORTH - CONSERVATIVES WIN THEIR FIRST SEAT OF THE NIGHT

2357 - NEWCASTLE EAST RESULTS IN

LABOUR: 28,127

CONSERVATIVE: 8,866

LIBERAL DEMOCRATS: 2,574

2355 - LABOUR SOURCES TELL BI IN BARROW THAT THEY'RE SCEPTICAL THAT EXIT POLLS SHOW LABOUR WILL HOLD ITS SEAT

barrow1

Foto: Barrow Town Hall. source Business Insider/Adam Payne

BI's politics reporter Adam Payne in Barrow Town Hall where the Labour held seat was initially predicted to swing to the Tories. He told us from down-on-the-ground:

"I'm in Barrow and Furness where Labour's John Woodcock is defending his 1.8% lead. The 10 p.m. exit poll predicts Labour will hold the seat - but Labour activists here are sceptical. 'If it's right then it contradicts all of our data,' one Labour activist told me. If Labour holds in Barrow - where the Trident is produced - it'll be a remarkable result for Labour."

2350 - THE FIRST 3 RESULTS SHOW SWING IS TO TORIES - DESPITE NOT WINNING "SAFE" LABOUR SEATS

Exit polls were predicting more of a swing to Labour.

2347 - SUNDERLAND CENTRAL COUNT IS IN

Conservatives: 15,059

Labour: 25,056

Liberal Democrats: 1,777

2332 - SOURCE CLOSE TO CORBYN TELLS BI "MAY'S CREDIBILITY" IS COMPLETELY SHOT

Senior Labour source, close to Labour leader Jeremy Corbyn, tells BI's politics editor Adam Bienkov:

"If this exit poll is correct, Theresa May's credibility is completely shot. As May said herself, if she lost just six seats in this election she would not be Prime Minister."

"If exit poll is correct, Labour has had biggest increase in popular support during campaign by any party in British political history by a massive margin," the source added.

2327 - TORY SOURCE TELLS BI YOUTH VOTE HAD A "MASSIVE" TURNOUT IN BARROW & FURNESS

BI's politics reporter Adam Payne is in Barrow Town Hall for the Barrow & Furness:

2324 - 5 SURPRISING THINGS WE HAVE LEARNED FROM THE EXIT POLLS

BI's politics editor Adam Bienkov put together a guide on how we should be very cautious on exit polls. He writes:

"The poll is strongly at odds with what most polls, pundits and the parties themselves told us was going to happen. However, exit polls have a pretty good record in the UK."

Read the full article here.

2320 - THIS PICTURE OF FORMER CHANCELLOR GEORGE OSBORNE ON ITV

The old English idiom - "a picture is worth a thousand words" - can be applied here. George Osborne was the chancellor under David Cameron's leadership but was sacked by current Prime Minister Theresa May when she took over the Tory party in July last year:

osborne1

Foto: source ITV

2312 - THIS HOUGHTON AND SUNDERLAND SOUTH RESULT SHOWS EXIT POLLS WERE NOT ENTIRELY CORRECT

There was a big swing to Conservatives although Labour won the majority in this seat.

2306 - HOUGHTON & SUNDERLAND SOUTH

Labour: Over 24,000

Conservative: 12,324

Labour holds but its results is worse than before while Tories have added votes. Media is awaiting exact results and vote share but a failure on a microphone from Houghton and Sunderland South means exact numbers are not available yet.

2300 - NEWCASTLE CENTRAL RESULTS ARE IN

Labour: 24,071

Conservative: 9,134

Lib Dem: 1,812

2259 - AN ALTERNATIVE EXIT POLL POTENTIALLY SHOWS HOW YOUNG PEOPLE SHAPED THIS ELECTION

Britain's general election might produce a result few saw coming - a hung parliament - and young people voting in force may be behind it.

An alternative exit poll published by NME suggests that a massive 60% of young people in Britain voted for Jeremy Corbyn's Labour Party. Turnout among young people, meanwhile, is up 12% to 56% on the last general election in 2015.

The NME exit poll was conducted by The Stream and surveyed 1,354 18-34-year-olds.

Read more here.

2255 - THIS IS WHAT A HUNG PARLIAMENT WILL MEAN FOR BRITAIN

theresa may12

Foto: Britain's Prime Minister Theresa May on March 13. source Reuters

Britain is heading for a hung parliament as a result of Theresa May's Conservatives losing a significant number of seats, according to a stunning exit poll for the BBC, ITV and Sky.

The exit poll predicts the Tories will be 12 seats short of a parliamentary majority.

BI's politics reporter Adam Payne put together an explainer about what a hung parliament would mean for Britain. Check it out here.

2250 - LABOUR'S JOHN MCDONNELL SAYS MAY SHOULD CONSIDER RESIGNING IF THERE'S A HUNG PARLIAMENT

John McDonnell, the shadow chancellor, told the BBC that if the exit poll is right, the current Prime Minister Theresa May should consider resigning:

"If it is right, then I think her position is becoming increasingly untenable. I tell you why - if you listen to what people are saying, Theresa May promised on seven different occasions that she wouldn't go for a snap general election.

"And she went for it on the basis that she wanted to secure a mandate that she already had. People just saw through that. They saw this as an election which was for party advantage rather than the interests of the country. And it looks as though they've rejected her as a result."

2235 - BETTING MARKETS SLASH TORY MAJORITY ODDS

Betting exchange Smarkets said that following the exit polls the latest prices, with % prices shown giving an implied probability are:

    Conservative majority tumbles from 85% to 55% after exit poll suggests hung parliament. Overall Majority: CON 55%, None 43%, LAB 2% Most Seats: CON 95%, LAB 5%

2222 - HERE ARE ALL THE KEY SEAT RESULTS TO STAY UP FOR

BI's politics editor Adam Bienkov has put together a guide of all the seats to watch out for when results roll in.

For example, Sunderland Central is one of them:

    Expected declaration time: 11.30 pm Winner in 2015: Julie Elliott (Labour) Labour majority over Conservative: 11,179Swing required to win: 13.38%Conservative target seat number: 136

One of the first seats to declare will be Sunderland Central in North East England. The seat has been held by Labour since its current boundaries were formed in 2010 and should be the easiest of holds for Jeremy Corbyn's party. However, if Theresa May is on course for the sort of new Labour-style landslide that some polls at the start of the general election predicted then Sunderland Central will be our first indication. Even a close result here would spell major trouble for Labour nationally.

Check it out here.

2215 - BRITAIN'S DEFENCE SECRETARY SAYS 'EXIT POLLS HAVE BEEN WRONG IN THE PAST'

Defence Secretary Michael Fallon tells the BBC: "Let's see some actual results. These exit polls have been wrong in the past. In 2015 they underestimated our vote, a couple of elections before that they overestimated our vote."

Shadow Chancellor John McDonnell on the Tory campaign added: "It was pretty nasty, it was very nasty. It dragged us into the gutter at times. Let's put that to one side. If the result is anywhere near like this, it means that positive politics has actually succeeded."

2207 - HERE ARE THE FULL EXIT POLL NUMBERS

2203 - POUND PLUNGES

BI's markets reporter Will Martin writes:

"The British pound is dropping sharply in overnight trade on Thursday after the exit poll suggested that no party will win a majority in the House of Commons after 2017's general election.

"The exit poll, which in recent elections has proved to be a fairly accurate forecast of the official result, showed Theresa May's Conservative Party as the biggest individual party, heading for 314 seats in the House of Commons, 12 short of a majority."

Read the full story here.

2200 - EXIT POLLS ARE IN

And it looks like it's going to be a hung parliament.

2155 - RESULTS COULD BE IN EARLIER THAN EXPECTED

Usually, during a general election, which is meant to be once every five years, there are local elections too.

However since this is a snap general election, there are no local elections taking place and therefore results might come in earlier than usual.

If there is a big landslide victory, Britain can expect results from around 3 a.m. to 4 a.m. BST on June 9. However, if the race is a lot tighter, it could be a few hours after that until we know who won.

In the 2015 general election:

    Houghton and Sunderland South was the first seat to declare at 10.48 p.m. BST. A Conservative majority was not confirmed until 1.34 p.m. ET the following day.

2145 - RECAP OF TODAY'S EVENTS

The voting period is from 7 a.m. BST to 10 p.m. BST. During this period, we've had:

    Latest betting odds from betting exchange Smarkets: Today's price for a Conservative majority, with 88% the highest it reached this morning. A fight broke out between photographers trying to get a picture of Liberal Democrat leader Tim Farron at a polling station.

2130 - HERE COME THE EXIT POLLS

The exit polls will be a result of a survey of 144 polling stations across Britain, jointly commissioned by the BBC, ITV, and Sky and will became immediately available at 10 p.m. BST.

A number of other outlets are publishing their own exit polls, including popular music magazine NME.

NME says it exit poll will be a representative sample of 1,000 people, aged 18-34-year-olds between 7 a.m. to 9 p.m. BST.

NME ran a campaign in the lead up to voting day called "My Plus One" to encourage young people to vote. It said "if every person under 25 took a friend with them to the polling station today, 2,527,743 more votes would be cast."

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