Final opinion polls showed Prime Minister David Cameron's
Conservatives and Ed Miliband's opposition Labour Party almost in a
dead heat, indicating neither will win enough seats for an outright
majority in the 650-seat parliament.
"This race is going to be the closest we have ever seen," Miliband
told supporters in Pendle, northern England, on the eve of the vote.
"It is going to go down to the wire."
Cameron said only his Conservatives could deliver strong, stable
government: "All other options will end in chaos."
The Conservatives portray themselves as the party of jobs and
economic recovery, promising to reduce income tax for 30 million
people while forcing through further spending cuts to eliminate a
budget deficit still running at 5 percent of GDP.
Labour says it would cut the deficit each year, raise income tax for
the highest 1 percent of earners and defend the interests of
hard-pressed working families and Britain's treasured but
financially stretched National Health Service.
"I think Labour is best for the good of the whole country. The
Conservatives have cut spending too much," said student Abi Samuel
at a polling station in Edinburgh's well-heeled New Town.
Retiree Robert McCairley said it had been a messy campaign.
"What disappoints me is that there was too much on the National
Health Service, hospitals and schools but not enough on the deficit
- no one showed us the figures," he said.
If neither party wins an overall majority, talks will begin on
Friday with smaller parties in a race to strike deals.
That could lead to a formal coalition, like the one Cameron has led
for the past five years with the centrist Liberal Democrats, or it
could produce a fragile minority government making trade-offs to
guarantee support on key votes.
British top share index fell to a near one-month low although
election jitters failed to translate into any significant sell-off.
The two main parties have been neck-and-neck in opinion polls for
months.
The pound <GBP=> was slightly weaker but the short-term cost of
protection against swings in the pound jumped to multi-year highs.
"What is important to us is clarity as soon as possible," Andrew
Witty, chief executive of GlaxoSmithKline, Britain’s sixth-largest
company by market value, told reporters.
'DISUNITED KINGDOM'
An opinion poll released on Thursday showed the two main parties
tied, with Labour wiping out a two-point lead by the Conservatives
recorded by the same pollster earlier this week.
Of seven polls released on the last day before voting, three showed
the two main parties level, three put the Conservatives ahead by a
single percentage point, and one gave Labour a two-point lead.
Leading pollster Peter Kellner of YouGov predicted the Conservatives
would end up with 284 seats to Labour's 263, with the Scottish
National Party (SNP) on 48, Liberal Democrats 31, the anti-European
Union UK Independence Party (UKIP) two, Greens one, and Welsh and
Northern Irish parties 21.
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If that proved correct, either of the two big parties would need
support from at least two smaller ones to get laws through
parliament, as the SNP has ruled out any deal with Cameron. If a
durable government could not be formed, Britain could face political
instability and even possibly a second election.
The fractured polls show Britain's post-World War Two political
consensus -- which saw the Conservatives and Labour take turns in
government -- is crumbling as once-marginal parties in Scotland and
England steal millions of votes.
Scottish nationalists, who lost an independence referendum last
September, are likely to win the lion's share of seats in Scotland,
capturing dozens from Labour, and making Miliband's chances of
winning an overall majority much slimmer.
In England, UKIP has courted Conservative and Labour voters but is
likely to damage Cameron's chances of a majority most, despite the
Prime Minister promising an in-out referendum on Britain's
membership of the European Union by the end of 2017 in an attempt to
reassure Conservative voters considering straying.
Any referendum is likely to damage the City of London's standing as
a global financial center and unsettle markets.
Cameron has warned that Miliband will only be able to rule with the
help of the SNP, a result he says could place the United Kingdom in
peril.
Miliband has ruled out doing a deal with the nationalists, despite
their overtures to form an alliance against the Conservatives.
"If we work together we can lock out the Tories. We will work with
others across the United Kingdom, that is my pledge," SNP leader
Nicola Sturgeon said in Edinburgh.
If Cameron fails to win a majority, he could try to strike a deal
with the Liberal Democrats, a repeat of the 2010 coalition, and
possibly also with Northern Irish unionists and UKIP.
Polls opened at 0600 GMT for the United Kingdom's 48 million voters
and close at 2100 GMT. An exit poll will be published as soon as
polls close, and most results are expected in the early hours of
Friday.
(Additional reporting by Michael Holden and Estelle Shirbon, and
Angus MacSwan in Edinburgh; Editing by Catherine Evans and Sophie
Walker)
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