Has Ed Miliband got something clever up his sleeve?

How will Ed Miliband manage tomorrow if Labour does end up the second largest party but with a viable ‘anti-Tory alliance’ in the House of Commons? The Tories are trying to craft a narrative that such a government would be illegitimate, and David Cameron will give a statement early on Friday.

But there is a theory developing among some Tories who rate Miliband’s strategic skills that he could be about to produce his own clever game-changer too. He could be about to offer a significant devolution of powers to the regions, a huge transfer of power to Scotland and Wales, the elected Senate of the Nations and Regions that was promised in its manifesto as a replacement for the House of Lords, and electoral reform. This would lock in the SNP, Plaid Cymru, the Lib Dems and Ukip. It would explain why Miliband has been quite happy to rule out doing a deal with the SNP, because he would be inviting all the parties to enter his big reform tent and almost daring them not to.