The Conservatives are predicted to get 368 seats, a majority of 86, which would be the biggest for the party since 1987.

Labour is predicted to win 191 seats, the Scottish National Party 55, Liberal Democrats 13, the Brexit Party none, Plaid Cymru three and Greens one.

The exit poll, which has been correct in four out of the last five General Elections, is the first moment of election night to produce a tangible sense of where the voters stand.

If it is correct, not only has Labour lost, it would be the the worst result for the party since 1935.

The prediction is based on data collected from 144 constituencies in England, Wales and Scotland, where voters are asked to cast a second replica ballot as they leave polling stations.

Following the result Boris Johnson Tweeted: ‘Thank you to everyone across our great country who voted, who volunteered, who stood as candidates.

‘We live in the greatest democracy in the world.’

With such a significant majority, Boris Johnson is now likely to push ahead with his promise to bring his Brexit deal to a vote before Christmas and put the UK on course to leave the EU on 31 January.

The prime minister had pledged to ‘complete Brexit’ within the first 100 days of his administration and such a result will give him a commanding majority to dictate the deal that Britain wants.

Some have already expressed fears it could pave the way for a ‘hard Brexit’.

If the polls are correct, it would also mean a failure for tactical voting campaigns.

A number of polling experts had predicted a ‘tactical voting surge’ in recent days, which if early indications are to be believed, looks as though it has failed to materialise.

Shadow chancellor John McDonnell said the exit poll was ‘extremely disappointing’, adding that Brexit had dominated the campaign, while Labour’s shadow international trade secretary Barry Gardiner described the exit poll as a ‘devastating blow’.

He told Sky News: ‘It certainly doesn’t look good.’

However, Conservative Party chairman James Cleverly said: ‘I’ve always felt polls should be taken with a degree of caution’.

Mr Cleverly said he wanted to see how the rest of the night plays out.

Meanwhile, the poll will be welcomed by the SNP, who could be set for a second landslide at Westminster, after the prediction the party could win 55 seats north of the border.

With less than an hour to go before the polls closed, Tories were being urged to rush to the polls, amid fears high student turnout would affect the Conservatives.

Lengthy queues at polling stations were reported throughout the day, as millions cast their vote in the most important election in a generation.

Hundreds of students up and down the country also reported ‘clerical errors’ which meant they were unable to vote.

Voters battled through freezing temperatures this morning to have their say, as they waited outside community halls, churches and schools.

Party leaders also took to social media to urge voters to head to the polls, with Labour’s Jeremy Corbyn Tweeting: ‘You have just over an hour to save our NHS.

Boris Johnson tweeted: ‘Let’s not go back to the broken parliament we had before this election was called.

‘Let’s move forward with a majority Conservative government that can get things done.’

The first official result is expected to be announced at 11pm, as Newcastle and Sunderland compete to be the first constituency to declare a result.

At the EU summit in Brussels, leaders had been saying they hoped one of the parties would be able to form a majority government after the election.