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With polls suggesting a heavy defeat, UK Prime Minister Rishi Sunak has announced a snap general election will take place on July 4th.

The PM is set to name the early summer polling date in a Downing Street statement imminently, according to widespread reports from Westminster.

It comes after 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.

Additional reasons why Sunak may have decided today is the right time to call an election include the fact that the economy grew 0.6% in the three months to March, also technically meeting a pledge, and his Rwanda legislation has made it through parliament.

However, all is not well at all.

As The FT reports, polls now puts the Conservatives on 23 per cent, matching the nadir of Liz Truss’s brief premiership in 2022.

Deputy PM Oliver Dowden in particular has been pushing for a summer election, she says.

Earlier today, Sunak said during PMQs:

In summary: For the Conservatives who believe that it is right to go earlier, the argument would be that things aren't going to get much better.