Cameron: Labour Has Lost Mandate

The Conservatives won most seats in a landmark general election but Britain was left Friday with a hung parliament as the party failed to land a knock out blow against Labour prime minister Gordon Brown.Plunged into the kind of political uncertainty the country has not experienced since 1974, Conservative leader David Cameron insisted his centre-left rival had lost his mandate to govern.But the prime minister's key allies indicated Labour, which has ruled since 1997, would try to cling to power by seeking a deal with the centrist Liberal Democrats.

In January of this year, David Cameron had a problem. Over the past few years his party had grown divided over the UK's membership in the European Union.

Jan. 6 (Bloomberg) -- Prime Minister David Cameron predicted a difficult year for the U.K. economy that will require maintaining the current mix of low interest rates and budget-deficit reduction.

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