David Cameron will speak at 2.30pm

David Cameron has now said he will make a statement at 2.30pm.

It could be a holding statement if all the numbers aren’t in. Or it could be something clearer about how he intends to proceed.

Nick Clegg was effectively saying to David Cameron in his statement that there are three options for him: a formal coaltion, a less formal arrangement or no arrangement at all but an undertaking to govern “in the national interest”. What that means is that David Cameron would have to run things more like the SNP have done in Scotland, not like majority governments normally do in Westminster. Go with the flow a bit not rock the boat.

The Lib Dem shadow cabinet has a meeting in the diary for 8am tomorrow preceding a meeting of the whole (slightly smaller now) parliamentary party at noon. That may or may not be an irrelevance if things move at a fast pace this afternoon and David Cameron says he’s going it alone.