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In view of developments in Scotland there is an interesting question about the bias in the electoral system. On the basis of the last election there is a bias towards Labour. I,e, if both Labour and the Tories get the same number of seats, the likelihood has been that the Tories would have polled more votes, perhaps 3-4% more. So if they get the same number of votes Labour will have won.
The conventional wisdom parroted by ignorant journalists is that this is due to constituency boundaries favouring Labour. This is true in Wales (which has on average smaller constituencies) to the tune of a few seats. It is NOT true in the rest of Great Britain, where the main reason for the bias in differential turnout (on average lower in Labour seats than in Con seats). A secondary reason is that in Con seats the average Labour vote is lower than the average Con vote in Labour seats (this is a result of the large number of LD seats and Con-Lib contests where Labour has been squeezed hard).
The extent of this pro-Labour bias may now have changed for two reasons on the basis of present polls (the differential turnout will be the same). (1) Scotland, where Labour will pile up large numbers of useless votes if there is an SNP landslide (and Con votes will be badly squeezed). (2) Con gains from LD (and Labour recovery of votes in Con-Lib contests).
It is even possible that Labour will be narrowly the second largest party but get more votes than the Tories!