Huge Gains for Left-Wing Corbyn, Major Setbacks for British PM

British Prime Minister Theresa May's Conservative party limped forward to a victory, maintaining their status as the largest party, but failing to secure the absolute majority that many expected May to have in the bag. A hung parliament is looking likely, meaning the the future of the government still hangs in the balance, complicating Conservative plans for Brexit.

RELATED: 
British Exit Poll Results: Conservatives Lose Overall Majority

The Labour Party, led by the left-wing Jeremy Corbyn, has achieved major unexpected gains after a spirited and extraordinary campaign which rejected the Conservative Party's austerity measures, and broadly appealed to youth and other sectors ordinarily disenfranchised by mainstream politics.

When Prime Minister Theresa May called the snap election, she was confident that she would secure a larger majority going forward into upcoming negotiations to withdraw from the European Union.

Early confidence on the part of the Prime Minister was dashed however, by the unexpected surge of Jeremy Corbyn in the polls in recent weeks after an enthusiastic and spirited campaign appealing to a broad base with left-wing politics.

Corbyn spoke to voters after he won his seat in Islington North. He alluded to the clear message sent during the snap election, affirming that Britains had had “enough of austerity” and their votes signaled that they were “turning their backs against” it.

As results continued to roll in, Corbyn tweeted to followers that the election had "changed politics for the better," and thanked those who voted for the Labour Party's "radical vision for a fairer Britain."

While the final votes were being tallied overnight, political editor of the BBC, Laura Kuenssberg stated, “the straws are in the wind” given Corbyn's spectacular performance. She added that the election has been a “political disaster” for May.

Contrasting with Corbyn's fiery anti-austerity rallies, May's campaign ran on a slogan of "strong and stable."

Forecasts show that the conservative party is expected to win 318 seats with labor taking 262.

The Daily Mirror published an edition of its newspaper on Thursday night referring to May's administration that read: “Hanging by a Thread.”

Now, if the exit polls and forecasts are confirmed, a coalition government will have to be formed.

The British Parliament is composed of a total of 650 seats. Exit polls indicate that 34 seats will be overtaken by Labor, while the Conservatives are expected to lose 16 seats.