Well...
Labour, Blair's party, is socialist, a bit like the Democratic party in the USA. It's been in power for several terms under Blair and has still got the edge - if there were an election tomorrow, they'd win. Again. Despite the fact that Blair is the least liked leader of the three main parties.
The Conservatives have gone all liberal with a young and dynamic leader, David Cameron. Under his lead the party has regained some degree of credibility which has been vacant for a LONG time now. They don't oppose the Iraqi war but they do oppose the way in which we were taken into it. They are environmentally concerned; there is no party as right wing as the Republicans in the UK with any power really.
The Liberal Democrats, traditionally the third party, opposes the Iraq war. It is currently led by Sir Menzies Campbell, a decent experienced man who I really respect. Lately, they've been gaining support in a significant way and now have the chance to replace the Conservatives as the main opposition. They are true or grassroots liberals, meaning that they are most concerned with freedoms (contrast with socialists who are most concerned with equality or conservatives who are most concerned with, well, conservatism!)
Basically, it's a volatile time. Anything could happen!
Rich::