THE GENERAL political consensus is that the Tories are heading, not just for an overall majority at the next general election, but a landslide majority.

At the risk of appearing unfashionable, therefore, let me suggest an alternative scenario: a re-elected Labour government with a working majority.

I have a number of reasons for suggesting this. First of all, as Michael Portillo pointed out at the weekend, the Tories go into the next election with fewer MPs than Michael Foot won in 1983 – 199 to Foot’s 210. So in order to win a majority of just one, Cameron has to secure a net gain of 125 seats. Assuming a mere handful of Scottish seats, that is a very big mountain to climb.

Secondly, the Conservatives’ lead in the polls seems far more to do with Labour’s unpopularity than with David Cameron’s (or his party’s) popularity. Cameron has still not sealed the deal. Now, why is that, do you think? He’s been leader for three and a half years; you would have thought that people would have made their minds up about him by now. If they have, they’ve decided they can take him or leave him.

True, the received wisdom about such things is that governments lose elections, oppositions don’t win them. But Tony Blair was genuinely popular as leader of the opposition. Cameron is not. This offers Labour some genuine hope.

Labour is lower in the polls than I can remember. We are an unpopular government. But the fact that the Tories have so far been rarely able to rise above 40 per cent in the polls suggests that all is not lost.

The Tories, the ones I speak to down here at Westminster, know this. They know the election’s not in the bag, unlike most of the people who comment on this site, whose hatred for the government is so intense, they will simply not allow themselves even to consider the possibility that Labour might yet pull back from the brink.

And perhaps they’re right. No government or party has the God-given right to govern. We may well lose. Cameron may well become prime Minister.

But I’m guessing that right at this moment you could get some very generous odds on a Labour victory. if I were you, I’d throw down a few quid. What have you got to lose?