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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Debunking Boris Johnson's claim that energy bills will be lower if we leave the EU

Why the Brexiteers' energy policy is less power to the people and more electric shock.

Boris Johnson and Michael Gove have promised that they will end VAT on domestic energy bills if the country votes to leave in the EU referendum. This would save Britain £2bn, or "over £60" per household, they claimed in The Sun this morning.

They are right that this is not something that could be done without leaving the Union. But is such a promise responsible? Might Brexit in fact cost us much more in increased energy bills than an end to VAT could ever hope to save? Quite probably.

Let’s do the maths...

In 2014, the latest year for which figures are available, the UK imported 46 per cent of our total energy supply. Over 20 other countries helped us keep our lights on, from Russian coal to Norwegian gas. And according to Energy Secretary Amber Rudd, this trend is only set to continue (regardless of the potential for domestic fracking), thanks to our declining reserves of North Sea gas and oil.


Click to enlarge.

The reliance on imports makes the UK highly vulnerable to fluctuations in the value of the pound: the lower its value, the more we have to pay for anything we import. This is a situation that could spell disaster in the case of a Brexit, with the Treasury estimating that a vote to leave could cause the pound to fall by 12 per cent.

So what does this mean for our energy bills? According to December’s figures from the Office of National Statistics, the average UK household spends £25.80 a week on gas, electricity and other fuels, which adds up to £35.7bn a year across the UK. And if roughly 45 per cent (£16.4bn) of that amount is based on imports, then a devaluation of the pound could cause their cost to rise 12 per cent – to £18.4bn.

This would represent a 5.6 per cent increase in our total spending on domestic energy, bringing the annual cost up to £37.7bn, and resulting in a £75 a year rise per average household. That’s £11 more than the Brexiteers have promised removing VAT would reduce bills by. 

This is a rough estimate – and adjustments would have to be made to account for the varying exchange rates of the countries we trade with, as well as the proportion of the energy imports that are allocated to domestic use – but it makes a start at holding Johnson and Gove’s latest figures to account.

Here are five other ways in which leaving the EU could risk soaring energy prices:

We would have less control over EU energy policy

A new report from Chatham House argues that the deeply integrated nature of the UK’s energy system means that we couldn’t simply switch-off the  relationship with the EU. “It would be neither possible nor desirable to ‘unplug’ the UK from Europe’s energy networks,” they argue. “A degree of continued adherence to EU market, environmental and governance rules would be inevitable.”

Exclusion from Europe’s Internal Energy Market could have a long-term negative impact

Secretary of State for Energy and Climate Change Amber Rudd said that a Brexit was likely to produce an “electric shock” for UK energy customers – with costs spiralling upwards “by at least half a billion pounds a year”. This claim was based on Vivid Economic’s report for the National Grid, which warned that if Britain was excluded from the IEM, the potential impact “could be up to £500m per year by the early 2020s”.

Brexit could make our energy supply less secure

Rudd has also stressed  the risks to energy security that a vote to Leave could entail. In a speech made last Thursday, she pointed her finger particularly in the direction of Vladamir Putin and his ability to bloc gas supplies to the UK: “As a bloc of 500 million people we have the power to force Putin’s hand. We can coordinate our response to a crisis.”

It could also choke investment into British energy infrastructure

£45bn was invested in Britain’s energy system from elsewhere in the EU in 2014. But the German industrial conglomerate Siemens, who makes hundreds of the turbines used the UK’s offshore windfarms, has warned that Brexit “could make the UK a less attractive place to do business”.

Petrol costs would also rise

The AA has warned that leaving the EU could cause petrol prices to rise by as much 19p a litre. That’s an extra £10 every time you fill up the family car. More cautious estimates, such as that from the RAC, still see pump prices rising by £2 per tank.

The EU is an invaluable ally in the fight against Climate Change

At a speech at a solar farm in Lincolnshire last Friday, Jeremy Corbyn argued that the need for co-orinated energy policy is now greater than ever “Climate change is one of the greatest fights of our generation and, at a time when the Government has scrapped funding for green projects, it is vital that we remain in the EU so we can keep accessing valuable funding streams to protect our environment.”

Corbyn’s statement builds upon those made by Green Party MEP, Keith Taylor, whose consultations with research groups have stressed the importance of maintaining the EU’s energy efficiency directive: “Outside the EU, the government’s zeal for deregulation will put a kibosh on the progress made on energy efficiency in Britain.”

India Bourke is the New Statesman's editorial assistant.