At about the 6 month mark, the Lib Dems have taken a knock in the polls, and Labour is positioning themselves as the clear left party-- Britain's Progressive Future. Here's a good read:

The Conservatives seem relatively level, as people give them "benefit of the doubt" for now. Labour do appear to have taken some advantage, but are not quite overhauling the Conservatives yet. While the Lib Dems have clearly lost out to result in a return to their downward trend, as they appear to alienate their supporters by significant reversal on some Lib Dem policy commitments.... Their figures show that most of the Lib Dem losses come from switches to "Don't Know". This is a pretty standard "Protest Vote" pattern growing around the LibDems, rather than high levels of voters defecting to Labour (currently 15%).

The Lib Dems have stepped up to the plate to govern, and a new Age of Austerity is about to be embarked upon. Open revolt has happened within the Lib Dems over some of the measures, and the cuts are just beginning. For example, the government budget in Wales will be reduced by 12% over 4 years. Overall, the government's message:

"today is the day that Britain steps back from the brink", as he outlined the long-awaited comprehensive spending review, which he said would achieve a balanced budget and falling national debt by 2014-15 while putting public services and the welfare system "on a sustainable, long-term footing".

However, that probably assumes some sort of economic growth, which may or may not happen. People don't like the LD's as much now, and critics are hitting. That was all predictable, but what's next is more perplexing. The Lib Dems have to hope these cuts work, and growth emerges (pretty much on its own). AV voting has to occur. That's really what the LD's depend upon going forward, and it has a good shot of passing.

Particularly encouraging was reading that when voters were educated about what AV Voting is, it went from being a tie to winning easily.