Another party would rise from Labour's fall. If Labour was to die in a major way, then you would see some of the more centrist Labour MPs jumping into the Lib Dem boat, you could also see three or four smaller parties form that would probably operate under a coalition.
This is all hypothetical, mind you. If Labour was to really become unpopular, it would probably just change a lot of its policies to be closer to what the public wants (like it did in 1997).







