Our editorial is up on the home page. Here is a key bit:
From almost any conservative angle, Britain’s election result is disappointing.
From the standpoint of a British conservative, the Tory party lost a third election and gained very little ground — less than 1 percent of the popular vote. From an American conservative standpoint, Tony Blair, who is a loyal friend of the United States, is today in a noticeably weakened political state. Though he won a third term — the first Labour prime minister to do so — he saw his majority substantially reduced and his share of the popular vote fall to a derisory 36 percent. If the British electoral system had not become so lopsidedly biased, he would have almost no majority at all.
From the standpoint of a foreign-policy conservative, Blair’s loss is a sign of weakening support for the U.S. across Europe, even in America’s most reliable ally. Blair is generally reckoned to have lost a large number of “middle-class progressive” votes (i.e., Guardian-reading, muesli-eating, electric-car-driving voters) to the Liberal Democrats because of their hostility to the Iraq war.