United Kingdom election will test markets' Brexit optimism

And if the ruling Conservatives emerge with a bigger parliamentary majority, it would be equally possible for May to ignore the pro-EU factions within her own party.

"Opinion polls have been saying that the conservatives have a huge lead over the Labour party, therefore you can view the prime minister's decision to go for a general election as a piece of cheap opportunism to get an easy victory over the Labour party".

Explaining his vote against, he said: "The key thing here is the fixed term parliament act was put in place by the Conservatives and the Liberal Democrats to give them some sort of protection against destabilisation and a general election being called before they wanted one".

Brexit Secretary David Davis and Chancellor Philip Hammond have been jointly pressing the PM to call an early vote for some time, and were informed of Mrs May's decision at a meeting on Monday.

While promising to run a "positive and optimistic campaign", she said the choice at the election was between her "strong and stable leadership" or a "coalition of chaos" led by Mr Corbyn.

British Prime Minister Theresa May has formally asked lawmakers to back her call for an early election.

Ms Sturgeon added: "But yesterday, she changed her mind, not for the good of the country, but for simple party advantage". Having promised not to get distracted by an election campaign - working out the nuts and bolts of Brexit, after all, is hard work - before the current term expires in 2020, she's now reversed herself. However, Mrs. May defended her motivation as stemming from a legitimate desire to prevent Britain from being at a disadvantage while negotiating Brexit.

The main reason for May's move is that Labour is considered very weak - Corbyn is not popular and therefore the PM sees an opportunity here.

The Prime Minister easily secured the two thirds of MPs needed to approve the early election with 522 voting in favour and just 13 against.

Nine Labour MPs voted against holding the election along with three independent MPs and one SDLP MP.

On the issue of TV debates, Mrs May said: 'First of all I'd point out that I have been answering your questions and debating these matters every Wednesday that Parliament has been sitting since I became Prime Minister'.

In the House of Commons today, Mrs May accused Labour of wanting to borrow £500billion and hike taxes to fund a spending spree.

May, previously the interior minister, took over as prime minister for David Cameron, who resigned previous year after voters said Yes to Brexit.

But Ms Davidson said: "Nicola Sturgeon has today made it clear: at this election, we face the grave danger of a weak Labour-SNP-Lib Dem alliance, headed by Jeremy Corbyn, plunging the United Kingdom into more instability and uncertainty".

Mrs May has said she will not take part in any TV leaders' debates, leading to criticism from Mr Corbyn and other party leaders that she is "running scared". He had previously said he meant to stand down in 2020.

Though May has been cautious in detailing her Brexit aspirations, traders think a big victory for her in the election could give her ammunition in dealing with those within her own Conservative Party who are urging a complete, "hard" divorce from the European Union - even if that means new tariffs and an exclusion from the bloc's huge single market.

"Labour will be offering the country an effective alternative to a government that has failed to rebuild the economy, delivered falling living standards and damaging cuts to our schools and [the National Health Service]", he said.

"They want to unite together to divide our country and we will not let them do it".

Ms Dugdale has started writing to Labour members asking them if they would like to consider being a candidate. "There should be no general election until 2020".