From the Independent:
A struggle for power broke out today as Britain headed for a hung
with the Conservatives as the largest party but Labour refusing to
the keys to Downing Street.
As the Tories prepared to claim victory, Labour made clear it would try
hang on to power by trying to forge a partnership deal with the
Democrats. Downing Street sources said Gordon Brown would try to form a
coalition government, arguing that the sitting government has the
right to form an administration even if it is not the biggest party.
From a progressive point of view, the hung parliament is probably a good thing. The Conservatives won't have the authority to form a government and the majority of the voting population voted for a Left wing party rather than a Right wing one. If Labour and the Lib Dems can form a coalition (and they probably can) Britain stands a chance of locking out the party that aims to reverse any good the Labour party has done over the past 13 years.
The Conservative party should not be blamed for Labour's massive short comings, but virtually every Labour failure was a result of a Conservative idea. Both wars in Iraq and Afghanistan were cheer led by the Tories, the deregulation of the financial system, welfare reform and the slashing of capital gains tax were also all traditional Tory ideas that have blown up in the public's face (after being implemented by Tony Blair and Gordon Brown). Thankfully, the economic crisis has force Labour to revert to its roots as a party of economic justice and sanity, while the Tories have no solutions other than to reinstate the same policies that caused the disaster in the first place.
The election has proved two things:
1. Britain does not want a Right wing government.
2. Britain is at heart, a progressive nation.
Unfortunately, Labour has betrayed its progressive values in a quest for relevancy, and has only found them again when faced with the reality of free market capitalism's gigantic failure. It took the financial meltdown for them to get serious, and with any luck they may have just prevented the Tories from getting in and doing more damage.