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well it all depends how it plays out. The labour party is traditionally liberal ( I was going to say socialist but most would read communist , too early to go there) but Blair did the whole 'New Labour' thing and took the party a bit to the right inorder to get them elected. The backlash from his own party is finally starting. However, I have little respect for the folks ont he benches next to him who were equally willing to sell their principles to get elected and are now switching back when the population give them the cue.
Fact is that the conservatives still have no hope in hell in being put in office for years to come so if Blair goes it will just be Gordon Brown or someone similar.
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