Tory claims that a hung parliament – message: any parliament in which David Cameron is not PM – would cause economic meltdown have been shown to be full of nothing but hot air, to use a polite analogy. Sixteen countries currently enjoying a triple-A rating from those nefarious agencies of which ten are currently run by coalitions and 12 use a form of proportional representation. However, a report from Lombard Street Research recently showed that the most savage cuts have taken place in hung parliaments, the worst by coalitions led by David Lloyd George in 1921, Ramsay MacDonald in 1931 and under the last Lib-Lab pact in 1977. All those governments got their comeuppance and fell shortly afterwards.
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