The traditional political order is supposedly reasserting itself. After the Tories and Labour held successful conferences – in stark contrast to the explosive controversies that engulfed the Greens and Reform UK – there is deepening consensus that the old two-party system is coming back. But such a claim rests on the flimsiest of grounds.Both Labour and the Conservatives remain badly tainted by their recent failures in office, and their approval ratings are still at historic lows. Nor should Reform UK’s decline be exaggerated, given that in most opinion polls they are in second place, narrowly behind Labour. Only last month,...