Final polls of the campaign point to a hung parliament

Final pre-election polls show the Tories around 30 seats short of a majority.

New Statesman - Polls Guide_1273093737947

Latest poll (ComRes/Independent) Conservatives 27 seats short of a majority.

22:05 UPDATE: The final poll of the night, a ComRes survey for the Independent, has the Tories unchanged on 37 per cent, Labour down one to 28 per cent and the Lib Dems up two to 28 per cent.

So, assuming a uniform swing, all of the polls published tonight point to a hung parliament. There's no sign of a late Tory surge but I expect the Conservatives will be fairly satisfied. They are confident that their strength in the marginals will give them more seats than national polls suggest.

The Tories are all but certain to emerge as the single largest party on Friday but unless, against expectations, they perform well in the Lib Dem marginals, I can't see them winning an overall majority.

If Cameron ends up around 20 seats short of a majority, I expect him to attempt to lead a minority government with the support of the DUP and other minority parties. If the shortfall is more like 30-40 then he will have no choice but to negotiate with the Lib Dems.

21:50 UPDATE: ICM for the Guardian has the Tories up three to 36 per cent, Labour unchanged on 28 per cent and the Lib Dems down two to 26 per cent.

20:06 UPDATE: It looks as if last night's YouGov poll, which had the Lib Dems way down on 24 per cent, was an outlier. Tonight's has them back up fourpoints to 28 per cent, with Labour down two to 28 per cent and the Tories unchanged on 35 per cent.

There's no sign of a late Conservative surge tonight but these polls are far from encouraging for Labour. Most show them level-pegging with the Lib Dems and two put Nick Clegg's party in front.

New Statesman Poll of Polls

New Statesman - Polls Guide_1273093992405

Hung parliament, Conservatives 27 seats short of a majority.

UPDATE: The latest Angus Reid/PoliticalBetting poll has the Tories up 1 to 36 per cent, the Lib Dems unchanged on 29 per cent and Labour up 1 to just 24 per cent. As ever, Gordon Brown will be hoping that Mike Smithson's golden rule -- that the poll with Labour in the worst position is normally the most accurate -- does not hold this time.

UPDATE: Populus for the Times has topline figures of Con 37 per cent (+1), Lab 28 per cent (+1) and Lib Dems 27 per cent (-1). On a uniform swing, that result would leave Cameron 24 seats short, a legislative handicap he would hope to overcome with the help of the DUP and others.

The first two polls of the night are out and both point to a hung parliament. An Opinium poll for the Daily Express has the Tories on 35 per cent (+2), Labour on 27 per cent (+1) and the Lib Dems on 26 per cent (-1). If repeated at the election on a uniform swing, that result would leave David Cameron 38 seats short of a majority.

Meanwhile, a new TNS BRMB poll puts the Tories down one to 33 per cent, with the Lib Dems also down one to 29 per cent and Labour unchanged on 27 per cent. On a uniform swing, the figures would leave Cameron 57 seats short of a majority.

So, like other recent polls, both suggest that the yellow tide is receding. That said, it's worth remembering how few expected to see any poll put the Lib Dems ahead of Labour the day before the election.

I'm expecting a glut of polls tonight, so stay tuned for updates throughout the evening.

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George Eaton is political editor of the New Statesman.

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The tale of Battersea power station shows how affordable housing is lost

Initially, the developers promised 636 affordable homes. Now, they have reduced the number to 386. 

It’s the most predictable trick in the big book of property development. A developer signs an agreement with a local council promising to provide a barely acceptable level of barely affordable housing, then slashes these commitments at the first, second and third signs of trouble. It’s happened all over the country, from Hastings to Cumbria. But it happens most often in London, and most recently of all at Battersea power station, the Thames landmark and long-time London ruin which I wrote about in my 2016 book, Up In Smoke: The Failed Dreams of Battersea Power Station. For decades, the power station was one of London’s most popular buildings but now it represents some of the most depressing aspects of the capital’s attempts at regeneration. Almost in shame, the building itself has started to disappear from view behind a curtain of ugly gold-and-glass apartments aimed squarely at the international rich. The Battersea power station development is costing around £9bn. There will be around 4,200 flats, an office for Apple and a new Tube station. But only 386 of the new flats will be considered affordable

What makes the Battersea power station development worse is the developer’s argument for why there are so few affordable homes, which runs something like this. The bottom is falling out of the luxury homes market because too many are being built, which means developers can no longer afford to build the sort of homes that people actually want. It’s yet another sign of the failure of the housing market to provide what is most needed. But it also highlights the delusion of politicians who still seem to believe that property developers are going to provide the answers to one of the most pressing problems in politics.

A Malaysian consortium acquired the power station in 2012 and initially promised to build 517 affordable units, which then rose to 636. This was pretty meagre, but with four developers having already failed to develop the site, it was enough to satisfy Wandsworth council. By the time I wrote Up In Smoke, this had been reduced back to 565 units – around 15 per cent of the total number of new flats. Now the developers want to build only 386 affordable homes – around 9 per cent of the final residential offering, which includes expensive flats bought by the likes of Sting and Bear Grylls. 

The developers say this is because of escalating costs and the technical challenges of restoring the power station – but it’s also the case that the entire Nine Elms area between Battersea and Vauxhall is experiencing a glut of similar property, which is driving down prices. They want to focus instead on paying for the new Northern Line extension that joins the power station to Kennington. The slashing of affordable housing can be done without need for a new planning application or public consultation by using a “deed of variation”. It also means Mayor Sadiq Khan can’t do much more than write to Wandsworth urging the council to reject the new scheme. There’s little chance of that. Conservative Wandsworth has been committed to a developer-led solution to the power station for three decades and in that time has perfected the art of rolling over, despite several excruciating, and occasionally hilarious, disappointments.

The Battersea power station situation also highlights the sophistry developers will use to excuse any decision. When I interviewed Rob Tincknell, the developer’s chief executive, in 2014, he boasted it was the developer’s commitment to paying for the Northern Line extension (NLE) that was allowing the already limited amount of affordable housing to be built in the first place. Without the NLE, he insisted, they would never be able to build this number of affordable units. “The important point to note is that the NLE project allows the development density in the district of Nine Elms to nearly double,” he said. “Therefore, without the NLE the density at Battersea would be about half and even if there was a higher level of affordable, say 30 per cent, it would be a percentage of a lower figure and therefore the city wouldn’t get any more affordable than they do now.”

Now the argument is reversed. Because the developer has to pay for the transport infrastructure, they can’t afford to build as much affordable housing. Smart hey?

It’s not entirely hopeless. Wandsworth may yet reject the plan, while the developers say they hope to restore the missing 250 units at the end of the build.

But I wouldn’t hold your breath.

This is a version of a blog post which originally appeared here.

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