UK business lobby group says needs functioning government to protect economy

Britain's Prime Minister Theresa May waits to speak after retaining her seat at the count centre for the general election in Maidenhead, June 9, 2017. REUTERS/Toby Melville

LONDON (Reuters) - British politicians must get their act together and form a functioning government to protect the economy, business lobby group the CBI said on Friday after Prime Minister Theresa May’s Conservatives failed to win a majority in parliament.

With 645 out of 650 seats declared following Thursday’s vote, the Conservatives had won 314 seats and were therefore no longer able to reach the 326-mark they would need to command a parliamentary majority. Labour had won 261 seats

“This is a serious moment for the UK economy. The priority must be for politicians to get their house in order and form a functioning government, reassure the markets and protect our resilient economy,” CBI Director-General Carolyn Fairbairn said in a statement.

“For the next government, the need and opportunity to deliver an open, competitive and fair post-Brexit economy that works for everyone across all our nations and regions has never been more important.”

Reporting by Costas Pitas and Kylie MacLellan; Editing by Georgina Prodhan