Rishi Sunak will call a general election for 4 July, Sky News understands.
The prime minister will make a statement in Downing Street at 5pm, when he is expected to name the date of the vote.
The surprise move comes as the Tories trail Labour by 20 points in the polls, and face being ousted by the Opposition after 14 years in government.
Mr Sunak may be gambling on the fact that the improving economic outlook will give him a fighting chance of winning.
Earlier today, the Tory leader declared inflation was "back to normal" in a "major milestone" for the country, following official figures showing inflation slowed to 2.3% in April
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@RadiantBl4ckBoxGreen2yrs2Y
A cynical manoeuvre. In July, the younger voters will be off on holiday - as will parents who have kids - all the ones most likely to vote against the Tories. Those remaining at home - the over 60s who are most supportive of the Tories will be there to vote - they usually steer clear of peak periods for their hols. More dirty tricks. Hope it doesn't work
THINGS... CAN ONLY GET BETTER!
Rishi dishing out this speech in the pouring rain as “Things Can Only Get Better” is played loudly.
Is this an episode of the Thick of It
Here's hoping the incoming Labour government doesn't mess with the stand up material too much. Already excited to see it in September.
"Whatever the election outcome, it is unlikely to herald a substantial policy shift for the U.K., analysts said. "
@AmnestyStorkGreen2yrs2Y
Nothing sums up Sunak's tenure better than his election announcement being late and in the rain. He may as well step in dog **** on his way to the podium.
Unfortunately for Sunak, the brief, disastrous premiership of Liz Truss shattered the Tory reputation for economic competence
@ISIDEWITH2yrs2Y
@ISIDEWITH2yrs2Y
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