Following the Labour Party landslide victory and the Conservative Party's catastrophic general election defeat, the Liberal Democrats have slightly fewer votes than Reform but benefitted most from the Tory collapse, surging to a record 70 MPs, including the constituencies of three former Tory PMs - Boris Johnson, David Cameron and Theresa May.
It sees a Labour prime minister in Downing Street for the first time since 2010 and a battle for the future direction of the Conservatives when Rishi Sunak stands down as leader. The Tories have lost seats they have held since the 19th or early 20th century, across the shire counties of England, with Sunak saying that he accepts responsibility for his party's overwhelming election defeat.
The Green Party of England and Wales now has four MPs, with co-leaders Carla Denyer and Adrian Ramsay among the winners. But it was a poor night for the SNP, which has been reduced to just eight MPs to date.
The Reform party has four MPs, with its leader, Nigel Farage, winning a seat in Parliament at his eighth attempt, in Clacton. In his victory speech, the UK’s newest Prime Minister, Sir Keir said: "Change begins now!
He told Labour supporters: “The country is waking up to ‘the sunlight of hope’ which was shining once again on a country with the opportunity after 14 years to get its future back". Following Labour’s win at the general election, Henrietta Brealey, CEO of Greater Birmingham Chambers of Commerce, said: “We congratulate Keir Starmer and the Labour Party on their decisive victory on a night of historical significance.
“Throughout the last 14 years, we’ve witnessed a series of seismic occurrences which have shifted the economic and political contours of the region ranging from the introduction of Combined Authority Mayors to Brexit, Covid-19 and more recently the energy crisis and its subsequent impact on inflation and interest rates.
“Right now, businesses across the country will be craving a period of relative stability so they can plan and invest for the future. Nevertheless, it’s clear the new Government will be inheriting major challenges– acute fiscal pressures, stagnant growth levels, low levels of investment and a prosperity gap between the north and south of the country that shows few signs of narrowing.
Lily Megson, Policy Director at My Pension Expert said: “A Labour victory was as close to inevitable as you could get. Yet, Starmer and his party must not be complacent. Britons have experienced a great deal of financial hardship throughout the final years of Conservative governance. Financial planning – particularly retirement planning – has been an uphill battle for many Britons.
“As such, it is vital that the incoming government work rapidly to ensure economic stability. Further, pension policy must be airtight. With nearly all results declared, Labour is projected to form the next government, with a majority of 170.
The Tories were set for the worst result in their history. They have lost more than 248 seats and are currently on 119 seats.
