Rishi Sunak calls UK national election for July 4

STORY: BRITISH PRIME MINISTER RISHI SUNAK: "Now is the moment for Britain to choose its future."

:: London

British Prime Minister Rishi Sunak called a national election for July 4th on Wednesday (May 22), setting up a vote that his governing Conservatives are widely expected to lose after 14 years in power.

SUNAK: "Over the next few weeks, I will fight for every vote. I will earn your trust. And I will prove to you that only a conservative government led by me will not put our hard earned economic stability at risk..."

The election call ends months of speculation and is a risky strategy with Sunak's Conservatives trailing the opposition Labour Party by around 20 percentage points in opinion polls.

Both parties had all but kicked off campaigning, with attack lines on the economy and defence already firmly drawn.

Labour leader Keir Starmer said the vote will be an opportunity to end the chaos of Sunak's Conservative government.

"But no matter what else is said and done, that opportunity for change is what this election is about."

Sunak has tried several times to turn around his party's fortunes, recasting himself as a bold reformer, effective technocrat and most recently as someone who will (quote) "stick to the plan."

The winners of the election will have to tackle an economy that looks stuck in a rut of slow growth.

High levels of debt may limit the next government's ability to spark a significant recovery.