London, July 12: The much-awaited announcement is here. Oxford-educated Theresa May is set to be the next British PM after a leadership contest was cut short when rival Andrea Leadsom withdrew from the race.
When May, 59, announced her leadership campaign from the Conservative Party in Birmingham, Leadsom announced her withdrawal in London. In addition to this, Angela Eagle announced her leadership bid to replace Jeremy Corbyn as the Labour Party leader.
Meanwhile PM David Cameron said that he would chair his last cabinet meeting on Tuesday and appear at his last Prime Minister's Question Time in the House of Common son on Wednesday afternoon. Following this, he will go to Buckingham Palace to resign so that May can be placed in 10, Downing Street, by Wednesday evening.
British polics has been seeing an unheavel since the June 23 vote for Brexit. While Cameron had warned of the outcome of Brexit, the people still voted in favour of it. This resulted in Cameron's resignation from the post of PM. Although his replacement was to be announced on September 9, the process was accelarated by Leadsom's withdrawal.
This, in turn, will have a positive effect on the economy as business and finance suffered severely due to the Brexit and sought after clarity. Also, Labour and Liberal Democrats demanded mid-term clarity so that a number of political issues could be settled. This may also allow the voters to mull over their Brexit decision and give them a second chance to vote. Apart from this, there is a demand that parlament should have the final say on Brexit.
Leadsom's withdrawal came after she was criticized for her statement that she had a better chance at being the PM because she was a mother and that May did not have any children.