Prime Minister Rishi Sunak is expected to set a date for the next general election today (Wednesday 22 May).
Speculation has been growing that Sunak will call an election for July following a cabinet meeting on Wednesday afternoon.
Ministers arrived in Downing Street, with the meeting unusually scheduled for 4.15pm.
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It's reported that the Prime Minister organised the meeting to inform ministers of his plans to call the election.
Foreign secretary David Cameron cut short a trip to Albania to return to the UK for the meeting.
A Foreign Office source told the BBC that Cameron was originally scheduled to be coming back on Wednesday evening.
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The announcement is expected to come after news that inflation has fallen from 3.2 percent in March to 2.3 percent in April.
Describing it as a 'major moment for the economy' some people have speculated that the good economical news could potentially be one reason why the prime minister has decided to trigger the election now.
Speaking about the economic boost, he said: "Today marks a major moment for the economy, with inflation back to normal.
“This is proof that the plan is working and that the difficult decisions we have taken are paying off," he said.
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“Brighter days are ahead, but only if we stick to the plan to improve economic security and opportunity for everyone.”
It's believed that the election will be called for 4 July.
The prime minister had previously said that he expected the general election to take place in the 'second half' of 2024.
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However, Sunak can call the election whenever he wishes, so long as he provides 28 days notice to both the King and to voters.
At Prime Minister's Questions earlier on Wednesday, Sunak stuck to his original word that the election would take place in the latter half of the year - so essentially any time from 1 July.
The SNP's Stephen Flynn asked the prime minister if he planned on calling the election.
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"Speculation is rife, so I think the public deserve a clear answer to a simple question," he asked. "Does the prime minister intend to call a summer general election or is he feart [scared]?"
To which Sunak said: "There is, Mr Speaker - spoiler alert - there is going to be a general election in the second half of this year."
Topics: News, Rishi Sunak