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Want to know what "hung parliament" and "first past the post" mean? Read on.
But the spin has begun and David Cameron's circle has been giving unattributable quotes to journalists indicating their man could demand the right to set up a minority government based on winning more popular votes as well as the most seats. As of today, this is the most likely scenario. Like Heath in 1974, Cameron could set up a loose coalition government with the Ulster Unionists, try and pass some popular legislation, like rescinding Labour's expensive and unloved plans for everyone to have bio-metric identity cards, and build on that momentum to call another election in the autumn in the hopes of winning his outright majority. Cameron has to be careful though: Heath tried the same thing in October 1974 — and lost.
There is a third possibility: The Conservatives close with a rush and win a majority.
But if you follow the wisdom of crowds you would have to say that is unlikely. As of now, most wagers at sports betting sites in Britain are still on the Conservatives as the largest party in a hung parliament. Come Friday, we might get a chance to see how long Sir Gus's guidelines last.