General Election: Jeremy Corbyn says he won't lead Labour into another election

Saturday, 14 Dec, 2019

Prime Minister Boris Johnson called on Britons on Friday to put years of bitter divisions over the country's European Union membership behind them as he vowed to use his resounding election victory to finally deliver Brexit next month.

Johnson's Conservative Party has won 364 seats in UK Parliament, with just one seat left to declare.

Conservatives' British Prime Minister Boris Johnson gestures while speaking after winning his seat at the counting centre in Britain's general election in Uxbridge, Britain, December 13, 2019.

"There is certainly not another vote", she said, adding that Brexit would "get passed as an act of parliament, it will then be ratified as an global treaty and we will be out".

But he remains a deeply divisive figure, his predecessor Theresa May reportedly believes he is "morally unfit" to be PM, and he has reinvented his politics so often in his career that Britons don't really know at all whether they've elected Britain's Trump, as the U.S. president sees him, or a pro-Brexit version of Michael Heseltine, as Johnson's allies depict him.

The party lost 59 seats to end up with 203, after what Corbyn admitted had been a "very disappointing night".

The latest vote count results in Darlington showed that the Conservatives have snatched the seat from Labour, as the misery for Corbyn's party deepens.

Howver, almost half a century after joining what has become the world's largest trading bloc, Johnson faces the daunting challenge of striking new worldwide trade deals, preserving London's position as a top global financial capital and keeping the United Kingdom together.

With the clear win, leaders hailed the end of three and half years of Brexit chaos, including three delays.

Twelve month price-to-earnings ratios of United Kingdom equities are far below their 30-year average, signaling the upswing potential for the assets as and when Brexit uncertainty completely fades and fiscal stimulus kicks in.

In Burnley, Rita Spencer, 73, a Labour-turned-Conservative voter said she was "over the moon" about Johnson's victory.

The outcome of the negotiations will shape the future of Britain's $2.7 trillion (2.1 trillion pounds) economy.

European Union leaders in Brussels were to endorse a Brexit text at the end of their two-day summit, which was dominated on Thursday by climate talks. Currently, the deadline for that is the end of 2020, although the two sides could agree to an extension beyond that date.

Defying the pundits, Johnson romped to a majority government in the biggest conservative victory since Lady Thatcher in the 1980s.

Eurosceptic leader Nigel Farage also claimed to have boosted the prime minister's chances by declining to stand candidates for his Brexit Party in Tory-held seats. "It will be called Brexit but it won't really be".

As the world wakes up to the news of a landslide victory for the ruling Conservative party in the U.K.'s general election, CNBC took a look at frontpage reaction from newspapers globally.

The Labour Party had pledged to renegotiate the Brexit deal with Brussels and put it to another referendum.

The anti-Brexit majority in Northern Ireland's six counties will be obliged to sort out a complicated regime of customs checks with the 26-county Irish republic, an European Union member state, as well as with the British mainland across the Irish Sea.

The party took a string of traditionally Labour seats that had not voted Tory for decades, but many of which had backed "Leave" in 2016.

The Conservatives made major gains across Labour's so-called "red wall" post-industrial strongholds in the Midlands and north of England, where already fraying loyalties finally ruptured over Brexit.

While Johnson stayed on message, embattled opposition Labour Party leader Jeremy Corbyn was widely portrayed as sitting on the fence on Brexit and faced unprecedented criticism during the campaign for his failure to decisively tackle allegations of deep-rooted anti-Semitism in his party.

Labor leader Jeremy Corbyn resisted calls to step down immediately in the wake of his party's crushing defeat, saying a "process of reflection" was in order. "Polls shows that Labour should have been poised to take back 10 Downing Street".

Jeremy Corbyn's Labour Party was forecast to pick up 191 seats - 71 fewer than they now hold.

Meanwhile the anti-Brexit Liberal Democrats also had a dismal night, falling to just 11 seats and losing their leader, Jo Swinson. And then there's the anti-Brexit Scottish National Party, which drove Labour nearly entirely out of Scotland in 2015.

Scotland's pro-independence first minister, Nicola Sturgeon, who leads the SNP, has repeatedly said that her United Kingdom constituent nation should be allowed the right to hold a second referendum on Scottish independence - so Scotland could remain in the EU.

The EU's chief Brexit negotiator, Michel Barnier (above), said the EU was ready to "complete the ratification of the withdrawal agreement for an orderly Brexit". "We've got the opportunity to get Brexit done and get everything else that we promised as well".

Joe Biden has already trumpeted the results to argue that a radical leftist can not win a national election.