Liberal Democrat leader Nick Clegg said today that the Conservative Party had the “first right” to attempt to form a government in the “national interest”.
As he arrived to cheers from supporters on the steps of the Liberal Democrat headquarters in Westminster this morning, Mr Clegg said it was now for the Tories to prove themselves capable.
"We're in a very fluid political situation with no party enjoying an absolute majority," he said. "As I've said before it seems to me in a situation like this, it's vital that all political parties, all political leaders, act in the national interest and not at narrow party political advantage.
"I've also said that whichever party gets the most votes and the most seats, if not an absolute majority, has the first right to seek to govern, either on its own or by reaching out to other parties.
"And I stick to that view. It seems this morning that it's the Conservative Party that had more votes and more seats but not an absolute majority. And that is why I think it is now for the Conservative Party to prove that it is capable of seeking to govern in the national interest."
The latest declared results, for 617 of the 650 constituencies, show the Conservatives have won 291 seats, Labour 248, the Liberal Democrats 51 and other parties 27.
Indications are that the Conservatives have fallen short of winning the 326 seat majority required to form a government, meaning Mr Clegg may find himself in the position of kingmaker.
Earlier, Mr Clegg expressed his disappointment at his party's poor showing. "We simply didn't achieve what we hoped," he told his supporters after sweeping to victory in his Sheffield Hallam constituency with an increased majority.
"This has obviously been a disappointing night for the Liberal Democrats. We simply haven't achieved what we'd hoped. I'm nonetheless proud of the way we conducted the campaign. I think we conducted a positive campaign - full of hope, full of optimism," he said.
He said this "engaged a lot of people" in the election campaign, even if they didn't then go on to vote for his party.
"Whatever happens in the next few days, weeks, months, I will be guided by the values and principles on which we fought this election - of fairness in our society, responsibility in providing stability and growth to the economy ... and real change to the way we do politics."