As we know, British Prime Minister Jim Callaghan tried to stitch together a confidence and supply deal with the Liberals in March 1977, but failed because the Liberals demanded a referendum on proportional representation.
What if Callaghan succeeded in creating a Lib-Lab Pact? The obvious answer is that you avoid the May 1977 election, and Thatcher's short, unhappy tenure, but how do you think Callaghan would have managed if he'd had more time?