By American standards, the “Tories” (the popular name for the Conservative Party in the United Kingdom), has a platform similar to moderate republicans or conservative Democrats (supporting big government, comfortable with corporate welfare and high taxes, not overly upset about breaches of civil liberties). Anything analagous to the Tea Party (which is becoming the mainstream of the American Republican party) is considered a way out fanatic in the UK (probably becase those with such views migrated to North America a few centruies ago).
It is possible that many supporters of the Labor party as it was under Tony Blair (the “New Labour” movement) might switch to the Liberal Democrats (a merger of the classic “Whig” Liberals, and the mid-20th century “Social Democrats” who broke away from Labour when they went ultra-left period before being taken over by the aforementioned “New Labour” group). It should be noted that the two party Tories-Labour split was solid for almost 90 years (since Labour replaced the Liberals as one of the “big two” after World War I).