In an interesting commentary on the YouGov website, one of the UK's top psephologists - Peter Kellner - postulates some 2015 election scenarios that see the Lib Dems end up with just 19 MPs.
In it he states:
"Until the recent elections I assumed that the Lib Dems would regain some ground as next year’s election approached. Even if they remained well below the 24% they scored in 2010, most of their MPs would enjoy enough local support to minimise their losses.
"Now I am not so sure. That is, I still think that the Lib Dems could claw their way back to around 14%; but there is now a chance that they will remain stuck on around 8%."
And on 8% - the best scenario for the party is just 23 seats.
Kellner also turns perceived wisdom on its head that a narrow Labour lead equates to a small overall majority, stating "Labour must also abandon its hopes of winning an overall majority with a narrow lead in the popular vote. Depending on Lib Dem performance and the precise size of the Tories’ sophomore surge, Labour’s lead needs to be at least 3% and possibly 5%."
In it he states:
"Until the recent elections I assumed that the Lib Dems would regain some ground as next year’s election approached. Even if they remained well below the 24% they scored in 2010, most of their MPs would enjoy enough local support to minimise their losses.
"Now I am not so sure. That is, I still think that the Lib Dems could claw their way back to around 14%; but there is now a chance that they will remain stuck on around 8%."
And on 8% - the best scenario for the party is just 23 seats.
Kellner also turns perceived wisdom on its head that a narrow Labour lead equates to a small overall majority, stating "Labour must also abandon its hopes of winning an overall majority with a narrow lead in the popular vote. Depending on Lib Dem performance and the precise size of the Tories’ sophomore surge, Labour’s lead needs to be at least 3% and possibly 5%."