May 2015 possibilities - what do you think?
It is already pretty much guarenteed that no party can win a majority so we will either have a coalition government consisting of one of the 2 largest parties and a lesser party, however, at the moment it only looks as though, again, Lib Dems will have enough seats to do that.
Labour + Lib Dems = Labour lose lots more grass roots voters who despise the Lib Dems which will cripple them in 5 years time. If this does happen, however, it would be potentially the first time the second and fourth parties with most amount of votes would form a government. Very unrepresentative.
Tory + Lib Dems = More of the same - but will Clegg still be the leader, or will a new leader go against this?
According to polls, UKIP could win anywhere between 20-40 seats which won't put them into a position to bargain for a coalition, however, they have already ruled out forming a coalition with the Tories (perhaps because they know they won't win enough seats) and UKIP/Labour is, of course, a no go.
Possibility number 2 is that we see a minority government. Both Labour and Tories could win enough votes to see them form a minority government in which all decisions have to voted through the house (invcluding through the opposition) which would see A) quite an unproductive party and B) probably a very quick vote of no confidence from the house forcing another general election.
In conclusion, I would argue that 'winning' this election, ie. being in government in one form or another could be damaging for both Labour and Tories. If either decide to coalition, you could see a large number of votes lost in 2020. If either decide to form a minority government, they could be voted out of power within a year. Now of course, Cameron and Miliband want to win the election as their jobs depend on it. However, I think many of the back-benchers within the parties would rather stay in opposition to rebuild for the election after.