British Prime Minister Gordon Brown has just resigned and Conservative Party leader David Cameron has just been invited to form a new government as Prime Minister.

Interestingly, the Conservative Party has not yet concluded its coalition discussions with the Liberal Democrats, so Brown's earlier-than-expected resignation has put the Tories firmly into the driving seat. If the LibDems don't agree to the deal the Tories have put on the table, that leaves the Tories as a minority government which could be rather short-lived if the other parties join forces against them.

The LibDem top team seem to be in favour of the deal, but some of the back-benchers and rank-and-file supporters seem more dubious. The LibDem system requires 75% of the MPs to support the deal, so it will be interesting to see if LibDem leader Nick Clegg can carry the rest of his party with him.