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Brexit heavy on pound and property market and May leads three horse race

a property with patio and lawn

The selection process will ultimately be finalised by about 150,000 Conservative Party members in around September, once MPs have cut the chase down to Two horse race.


Hot From London: Many contender horse race has briefed down to three horse race after These May secured a strong lead in the first round of voting. But all knew about the race was out under the carpet after strong and negative voices about falling pound and property fund investors appeared to be panicked and taking drastic steps to halt to suspended trading at all levels.

Market seemed to extremely concerned about the impact of UK leaving the European Union, pound sterling hit new 31-year lows.

The three prominent funds investing in British property suspended trading saying too many people were rushing to withdraw their money at once.

In the first ballot of Conservative members

  • Theresa May won 165 votes
  • Andrea Leadsom, a junior energy minister, won 66
  • Justice Secretary Michael Gove was third on 48
  • Former defence minister Liam Fox only won 16 votes

Stephen Crabb, fourth with 34 votes, pulled out and threw his support behind May. Liam Fox said he would also pledged to back her.

These has increased the likelihood of Britain getting its second woman prime minister after Margaret Thatcher. David Cameron, the current Prime minister has said he will step down after Britons voted in a June 23 referendum to break away from the EU.


Theresa May, said:

"There is a big job before us: to unite our party and the country, to negotiate the best possible deal as we leave the EU, and to make Britain work for everyone.

"I am the only candidate capable of delivering these three things as prime minister, and tonight it is clear that I am also the only one capable of drawing support from the whole of the Conservative Party."


The selection process will ultimately be finalised by about 150,000 Conservative Party members in around September, once MPs have cut the chase down to Two horse race.

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