Personally, I was delighted with Ed Miliband’s speech today. His categorical “No SNP ministers in my cabinet” promise was warmly received at Ladbrokes.
Not that we have anything against the SNP, but a Labour/SNP coalition has been backed down from 100/1 to 6/1 in the last few months and was by far our worst result in the post-election government betting. We pushed the odds out to 12/1 today.
As a result, we now make a Labour minority government the favourite at 3/1. Our rules say that we settle on a coalition arrangement only if all of the named parties have full cabinet representation. A minority government is any one in which a party gets under 326 seats, but has all of the seats in the first reformed cabinet.