Anne Richards, chief executive of investment manager M&G Investments, said she thought the election move was due to the timing of Brexit talks, not a “potential squeeze” on real incomes.
Shadow Chancellor John McDonnell has claimed Theresa May pushed for an election before the economy “dives”.
But Ms Richards said she did not believe a potential worsening of the economy to be a factor.
Speaking on Sky News, she said: “You could make the case that there is a little bit of political expediency in going early before that economic bite hits people’s sentiment.
Anne Richards said she thought Theresa May's General Election move was due to Brexit negotiations
It certainly seems to me it’s much more to do with the timing of the Brexit negotiations
“At the moment the Conservative Party is riding very high in the polls so there’s a lot of political expediency about that but actually I don’t think that is the real reason.
“It certainly seems to me it’s much more to do with the timing of the Brexit negotiations and not wanting the potential distraction of being in quite a sensitive and difficult transition period at the same time as you’re trying to run a General Election campaign, which would be the case if she didn’t go early now.
“So I think it’s probably much more about the timing of that than it is about this potential squeeze we might see in the short term on real incomes.”
Politicians react to Theresa May's snap general election Wed, April 19, 2017
UK Prime Minister Theresa May has announced her intention to hold an early general election on June 8
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Theresa May has called for a snap general election
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He said: “The reason she’s now going for a General Election is yes, she’s putting party before country but I also think she realises people are waking up to the fact that the economy now is beginning to dive.
“You’ve seen inflation increasing, you’ve seen wages stagnating, that’s having its affect in terms of those people who unfortunately are now heavily in debt as a result of consumer spend that has been buoying up the economy over the last six months.”