Insights from the UK and beyond
What now for Cameron’s agenda?
The big question is what happens to David Cameron’s modernisation agenda if he has to rule with a minority government.
Cameron had a lead of around 25 points or more against Labour not so long ago. But if tonight’s exit poll is right he is now short of a majority.
Many will question Cameron’s judgement and those in the party who have always thought the move to the centre was a mistake will make their voices heard, turning their ire on advisors like Steve Hilton who came up with the Big Society.
Perhaps the most incendiary issue will be Europe. Many Tory rightwingers think the EU is evil. Cameron is going to have to pay more attention to them as they could well hold him hostage like they did John Major after 1992.