Paul Davies has a brilliant post (followed by some brilliant commentary) up at Make My Votes Count, in which he suggets something very much contrary to the conventional wisdom: Except in the very short run, a hung parliament could be bad for the Liberal Democrats, as could a coalition government. Even proportional representation could be bad for the long-term interests of Britain’s third party.
As Joe Patterson notes in a comment to Paul’s post, a key advantage of PR would be that it would, finally, allow us to know where the real centre of British politics lies–most likely not with the marginal voter in the marginal constituencies, which all three major parties currently fight over.
In fact, as I have argued repeatedly here at F&V, the empowering of the center (or the centre) is what makes PR the most democratic family of electoral system. Yet most of the time, advocates and opponents of PR alike speak of it as a system that empowers minority parties.