David Cameron is to give a statement at 2.30pm, and it appears, given the briefings from Tory HQ, that he will answer Nick Clegg’s call for him to form a government in the “national interest”.
However, Labour people suggest that this may just be stage one, and that Clegg is “covering himself” by initially honouring his pledge to offer the first opportunity for a deal to the party with apparently the largest mandate.
Now, it is all down to Cameron. As he consults his senior aides today, he faces the choice of whether to “sell out” on electoral reform. If he does, he may face anger from his own party. If he doesn’t, he may miss his chance to govern. In which case Clegg — who has left more options open than he seems to have done — may yet turn to Labour.