Many predicted that Labour may scrape a win in 1992, but various circumstances meant this wasn't to be, and so the Tories secured a fourth consecutive term of office. The sense of victory didn't last long, however, as Black Wednesday and the ERM fiasco followed by Maastricht meant that by '93 Labour were always ahead in the polls from them on, and John Smith was a much more popular and trusted party leader than Neil Kinnock had ever been. After Smith's death in '94, Tony Blair became leader, Labour's polling increased further still, and most of the print media started turning away from the Tories and backed Blair.
Realistically, is there any way that the Tories - with or without Major - can salvage the situation after '92 and win a fifth election victory? What would need to have happened for this to be the case, without going too far off-kilter? Is there a point of no return in OTL in which a Labour win is simply inevitable due to the Tories having been in government for so long, and the desire for change so strong?