So looking at the next 4 years:
To be fair Labour is trying to do their best in a very difficult situation which is unfortunately creating an economic doom loop. The UK has a debt to GDP ratio of 96% which whilst significantly higher than other developed countries is below the average of other G7 countries. The current annual deficit is over £100 billion, current national debt is £2.7 trillion and the interest bill is £105 billion- similar to the entire education budget.
Labour can't cut spending because of the opposition from their own backbenchers (Eg WFO, PIP reforms etc). They can't increase borrowing anymore (as Liz Truss found out the hard way). S
So that leaves them with increasing taxation which further slows the economy thereby further reducing tax revenues and creating the need to increase taxes further and so on.
All of this will mean that unless there is a global economic turnaround then Labour's popularity will continue to be weak over the next four years. They are losing hard left votes to the Greens and more right leaning Labour supporters to Reform.
The Conservatives are polling low figures mainly because they lost credibility running a shit show for 13 years. However voters memories in general are short so I expect their polling figures to increase slightly up to 2024 but nowhere near enough to be able to win a majority.
The LibDems appear to have completely failed to understand the lesson of the US election that you don't win elections simply by "not being the other guy" which in their case is Reform.
The Greens are hard left and the largest unfunded policies of all parties.
Reform is not much better with the unfunded policies only second to the Greens. Where they are winning is by promising "change " or radical change. In a world where the Conservatives and Labour have simply been at the wheel of managed slow economic decline then "radical change "
is genuinely attractive to a lot of fed up voters. That said as we get closer to the election I would expect them to lose some votes to the Conservative (assuming the Tories get their act together- which is a big assumption).
Personally and looking forward to the possible changes between now and 2029 I see a Reform / Conservative coalition winning.