Polls counsel Labour landslide as Britain votes

Good morning. It’s election day within the UK, with the Labour get together anticipated to win energy in a historic landslide, leaving Prime Minister Rishi Sunak’s Conservatives dealing with one of many worst defeats in its historical past.

A collection of opinion polls have urged Sir Keir Starmer’s get together is heading in the right direction to win a Home of Commons majority of greater than 200, beating Sir Tony Blair’s 179 majority in 1997 and giving Labour its first common election victory since 2005.

When you want a recap of the marketing campaign path, learn our abstract of defining moments from the previous six weeks, from Sunak’s soggy begin to the election-betting scandal. In any other case, listed below are some solutions to key questions you might have as Britons begin heading to the polls this morning:

After voting, be a part of FT specialists together with Inside Politics publication author Stephen Bush and Political Repair podcast host Lucy Fisher as they break down the leads to our subscriber-only webinar tomorrow at 1pm GMT+1. Register now.

Right here’s what else is going on in the present day:

• Financial information: Development buying managers’ indices are anticipated for the EU, UK, Germany and France, whereas Switzerland has its June client value index and unemployment price.

• EU-China commerce: The bloc’s tariffs on electrical car imports from China come into pressure.

• Markets closed: The US celebrates Independence Day.

5 extra high tales

1. European central bankers have warned that dangers together with commerce tensions and excessive authorities debt are piling up for the area’s economic system. On the European Central Financial institution’s annual convention this week, falling inflation and rebounding development within the Eurozone have been overshadowed by the victory of Marine Le Pen’s far-right eurosceptic get together within the first spherical of France’s parliamentary election. Martin Arnold stories from the occasion held at a luxurious lodge in Sintra, close to Lisbon.

2. Democratic state governors have backed Joe Biden regardless of polls exhibiting a pointy fall in assist for his candidacy and amid hypothesis that Kamala Harris might substitute him within the White Home race. The US president yesterday met greater than 20 influential Democratic governors, together with these seen as doable successors if he withdraws, shortly after a closed-door lunch together with his vice-president. We’ve extra from Washington as stress mounts on Biden.

• Biden’s chief fundraiser: Media mogul Jeffrey Katzenberg is dealing with blowback from Hollywood donors who accuse him of downplaying the president’s declining well being.

• Is Kamala Harris prepared?: As Biden’s assist within the get together leaks away, the vice-president is the main contender to switch him. However how will she carry out towards Donald Trump?

3. Unique: Meals from outdoors the EU is coming into Britain unchecked, customs brokers have warned. Sevington, the nation’s essential post-Brexit border management facility, has been beset by communication points and delays because it struggles to implement a controls regime, the folks stated. Brokers advised the Monetary Instances that probably dangerous animal and plant merchandise are now coming into with weaker checks or none in any respect.

4. The subsequent UK authorities ought to penalise start-ups that settle for state assist in the event that they later checklist abroad or transfer precious operations overseas, in accordance with the foyer group for British banks. UK Finance stated in a paper this week: “There’s a sturdy case for linking taxpayer helps to future commitments to utilizing UK public markets and working within the UK.” Listed below are extra particulars from the group’s paper.

5. SoftBank is set to prioritise investments in synthetic intelligence and has no plans for a direct share buyback regardless of stress for a $15bn capital return programme from Elliott. “We imagine this can be a time when new funding exercise must be going down that would be the foundation for the longer term development of SoftBank Group,” the Japanese group’s chief monetary officer advised the FT, whereas declining to touch upon any particular exchanges with the activist investor. Learn the complete interview.

The Huge Learn

Though pollsters count on France to have a hung parliament after Sunday’s vote, Rassemblement Nationwide continues to be anticipated to be the largest pressure within the Nationwide Meeting with probably the most seats. Previous-school retail politics have helped to detoxify the far-right motion based by Marine Le Pen’s father and convey the get together from fringe opposition to the brink of political energy.

Don’t miss the pre-election particular version of Europe Specific this Saturday, and submit your questions to our panel of FT specialists. Tune in for his or her responses at lunchtime on Monday.

We’re additionally studying . . . 

• Iranian election: The presidential race between a reformist and a hardliner might be determined tomorrow by the silent majority who boycotted the primary spherical of voting.

• An untold Nato story: Greater than two dozen folks spoke to Henry Foy about one of many alliance’s most chaotic episodes: when Donald Trump threatened to withdraw assist in 2018.

• Preqin deal: Founder Mark O’Hare has been catapulted into the ranks of Britain’s wealthiest folks after the sale of the UK information group for £2.5bn to BlackRock.

• AI market hype: The temper continues to be fragile as buyers wrestle to shake the sensation that issues are merely dusted in glitter, writes Katie Martin.

Chart of the day

Nearly two and a half years since Russia’s full-scale invasion of Ukraine, Europeans have extensively diverging views on how the battle will — or ought to — finish, in accordance with a survey by the European Council on Overseas Relations.

Take a break from the information

Lhakpa Sherpa, a home cleaner and mom of two, has climbed Mount Everest 10 instances, with little assist from sponsors. Simon Usborne particulars her superb double life and the even larger challenges she has overcome off the mountain.

Further contributions from Harvey Nriapia and Benjamin Wilhelm