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Conservatives remain UK's largest party but lose majority, exit poll shows

The Conservative Party of U.K. Prime Minister Theresa May won the largest share of seats in general elections June 8, an exit poll showed, but it is set to lose its majority as voters shunned her calls for a renewed mandate to tackle talks on withdrawal from the European Union.

The Conservatives are set to hold 314 seats in the 650-seat parliament, 12 short of an overall majority, an exit poll broadcast on the BBC showed. In contrast, the opposition Labour Party should win 266, the poll showed. The result would strip the Conservatives of their majority of 17 in the outgoing parliament.

May had promised to cut corporation tax to 17%, balance the national budget by 2025 and reduce net migration to below 100,000 a year. Her Labour opponent, Jeremy Corbyn, surprised many analysts by surging in the polls after promising to boost spending on health, renationalize rail and postal companies, and boost taxes on companies and high-earning individuals.