WE have been there before, with both Wilson and Heath.
No one can rule with a minority government. Its an abortion. Nothing radical, nothing decisive can get passed into law. Nothing gets decided, no real advancement can be made, everything is fudge and a compromise.
IF we get a hung parliament, Labour will retain power (as the incumbent governments right to), completely unable to do anything decisive about the economy, and eventually, after being defeated in multiple votes government will collapse with a year, and another election will ensue. You only need a major bill such as the Finance Bill to get destroyed by the opposition, and thats thats.
Meanwhile, the militant left wing unions (UNITE and GMB) will set about ejecting Labours Blairites and Brownites from the party , (as they have promised they can and will), and whilst labour struggles along in the minority in westminster, civil war will rip the party apart as the unions seize control and force the party back to socialist far left. Policy making and decision making will cease within the government
Meanwhile, the worlds financial markets will see the political chaos, pull the plug on our credit rating and that will be it, game set an match. The economy will collapse, and the World Bank will be forced to step in, as it did with the Wilson Government. We will then be a prime target for the EU vultures to take further control of us.
THis is not speculation, this is based on previous times in our history when we have been in this position. We are the 5th largest economy because we always have had majority governments. If you want examples of what happens to countries with minority rules, look at places like Italy, Argentina, Brazil. 3rd rate counties because they cant be ruled decisively.