Exit Polls predict large reduction in Blair majority

The exit polls (which do get it wrong as we saw in the US) are predicting Labour 37%, Conseratives 33% and Lib Dems 22%.

Assuming a uniform swing, this would reduce the majority from 159 to 66 with Labour having 356 seats, Conseratives 209 seats and Lib Dems 53 seats.

However swings are very rarely uniform, so results may vary significantly.