DAVID Cameron has been delivering dire warnings about the potential consequences of a hung parliament.

But the Tory party leader and Witney parliamentary candidate has also made clear that, should the dreaded situation arise, he will seek to act in the national interest.

His exact tactics will depend on what emerges after the votes have been counted.

If - as the polls currently suggest - the Conservatives are the largest party but do not have the 326 seats needed for an overall majority, he could make up the shortfall by negotiating with smaller groups.

For example, the DUP, which had nine MPs in the last parliament, have already indicated they would consider working with any party.

The number of independent members is also expected to rise in the wake of the expenses scandal, which may make it easier for Mr Cameron to govern - either as a minority administration or in a formal coalition.

Should the Tories fall significantly short of the mark for a majority, they will need to look seriously at whether they could work with the Liberal Democrats.

However, the two parties' policy platforms suggest they would not be the most comfortable of bedfellows.

Nick Clegg has indicated the introduction of a proportional representation electoral system would top his list of demands - while Mr Cameron has all-but ruled out scrapping first-past-the-post.

For his part, Mr Cameron has drawn red lines around his commitment to immediate reductions in public spending - but the Lib Dems have said it would be madness to cut before the recovery is entrenched.

So, even if his is the largest party on May 7, the Conservative leader could be forced to sit back and watch the centre-left axis of Labour and the Lib Dems try to make a go of it.

In that circumstance Mr Cameron might draw comfort from the fact that, with Britain facing a period of public sector austerity unknown since the second world war, the partnership would come under massive strain.

But the Conservative Party is not known for its tolerance of failure. It is far from certain that he would be allowed to stick around and wait for another opportunity.