On the eve of last year’s general election result, many pundits predicted the demise of Britain’s two-party system. The likeliest outcome was another hung parliament in which one of the smaller parties — the Lib Dems or the SNP — held the balance of power. These same pundits pointed to the steady decline in membership of the two main parties, as well as the success of insurgent parties in the European and regional elections, as evidence of this sea change.