Despite its worsening poll ratings, the party remains confident of holding most of its 56 seats.
The party won just 0.9 per cent of the vote. But it remains confident that it can win where it is incumbent.
Both of the main parties see political advantage in going it alone if they win in 2015.
The unmistakable impression left by the Lib Dem leader's speech was that he is preparing to depart the stage.
The Lib Dem president calls for "active, ambitious, liberal government".
They forgot about the importance of competence and trust, and took their existing vote for granted.
Having previously praised the Labour leader, the Lib Dem president says he has failed to change his party.
Labour could finish first on seats but second on votes, and the Lib Dems could finish third on seats but fourth on votes.
They need to focus on winning tactical votes from Labour supporters to hold on to their MPs.
Lib Dem MP and former minister says "It’s essential that that choice is one that the party has".