The estimable Paul Waugh has an important post on how David Cameron could head a minority government and still accomplish most of the Conservatives' agenda. Here's his conclusion:
The point is that Government is about much more than legislation.
And as Alex Salmond has proven in Scotland (love him or loathe him),
you can rule with a minority administration and change the weather
simply by being in charge. And if you do a half-decent job in your
first few months, your popularity and natural honeymoon could well give
you a chance to get that manly, virile overall majority in a fresh
election.In summary, those who desperately want a Cameron government need not fear that a minority administration will trim its plans significantly.
And those who desperately don't want a Cameron government ought not to be deluded that a minority administration will trim its plans significantly.