There is a suspicion that the elections in the UK just might result in a hung parliament where no party has an overall majority. In other words no party has more MPs than all the other parties put together. In such a situation, a government formed from the largest party tends to be quite nervous as it can be thrown out by its enemies if they all manage to agree.
The preferred option is for a coalition to form out of two or more parties who can swing (if all their MPs obey the party whip) an overall majority.
However in either case, the government is not as stable as it would otherwise be. Hung parliaments usually have a poor reputation because they typically do not last very long and spend more time arguing amongst themselves rather than actually doing anything constructive.
At least in the UK. In Europe, hung parliaments are common enough that coalition government is the norm rather than the exception.
The Tories – after the first “presidential” TV debate where Nick Clegg was surprisingly effective – are suddenly banging on about how dangerous hung parliaments can be. Ignoring those scum-sucking lying politicians for the moment (at least as far as we can), are hung parliaments actually good or bad ?
Well the truth is that they do not happen enough in the UK for us to know. We do know that hung parliaments in Europe are quite common and that it does not appear to be a complete catastrophe there. Of course there will be those who point at countries like Italy and ask whether we want a government as unstable as they have. But I will also point at Italy’s economy and say that it doesn’t seem to have done much harm – Italy is the 7th largest country in the world in terms of GDP.
It is entirely possible that a hung parliament in the UK will cause a momentary loss of confidence by the financial markets, although those that panic are eventually going to be counter-balanced by those with cooler heads that realise that the UK is not going to go bust just because it has a potentially unstable government. It is likely that the economic effect of a certain cloud of volcanic ash will have a greater effect than a day or two of instability in the economic markets.
If we can avoid being distracted by the probably relatively minor economic problems of a hung parliament, we can look at more interesting aspects of one.
This will be an opportunity to get a government which does not let either of the old major parties (Labour and Tory) have everything their own way. Of course a coalition government will have one or other comprising the largest part, but another party – most likely the Liberals – will have a big say.
The likely result of such a hung parliament is significant electoral reform because the smaller parties are more interested in it than the old school parties who do quite well out of our archaic and undemocratic electoral system. Sure you hear of Tory and Labour plans for electoral reform, but what they plan is tinkering around the edges, and the Tory plans revolve around making the political system cheaper with the effect of making our current system even less democratic than it is at the moment.
If the thought of a hung parliament is currently making you consider one of the big two parties, perhaps you should reconsider – a hung parliament is not quite as bad as the politicians of the big two will have you believe, and the increased chance of genuine electoral reform is worth taking that risk.