What would be the political consequeneces of this parliment?

Okay, this comes from the ASB electoral systems thread:

Here's another interesting one. Convert into party list preferential voting:

Step one: You have two options, either increase the number of seats per riding thereby making the parliament in question much larger, or consolidate neighboring ridings into bigger ones, keeping the same number of seats. Either way you should have a total of six members per constituency.

Step two: Compile a list of results for every riding, give the party in first place three seats, the party in second place two, and the party in third place one.

Step three: Compile results, and determine government.

Naturally this system would only work in a country with three or more political parties. For a country with only two, like the US, have the first place party have two seats and the second place have one.

This turned OTL's results from the 2010 British election form this:

Conservatives: 307
Labour: 258
Liberal Democrats: 57
Democratic Unionist Party: 8
SNP: 6
Sinn Féin: 5
Plaid Cymru: 3
SDLP: 3
Green: 1
Alliance: 1
Independent: 1
TOTAL OF 650 seats; 326 required for majority
Into this:

Conservative 1418 (1401 + 17 from UCUNF)
Labour 1300
Liberal Democrat 955
SNP 88
DUP 35
Sinn Fein 26
Plaid Cymru 25
UCUNF (add to Conservatives) (17)
SDLP 16
Alliance 9
Independent Unionist (incl Hermon and Connor) 5
UKIP 4
RESPECT 4
Green 3
Independent Community and Health Concern 2
Blaenau Gwent Peoples Voice 2
Independent Save Our Green Belt 2
Buckinghamshire Campaign for Peoples Democracy 2
BNP 2
Liberal Party 1
Independent (Murray; Western Isles) 1
TOTAL OF 3900 seats; 1850 required for majority
What would the political results of this be?
 
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