It's not a "failed election" the UK is heading for per se, it would simply work as intended by the current law. It's just that the predictable results are anything but favourable for the Tories.
Those Tories have been against changes to the system for ages. Now that they notice that without methods of proportional representation they will be out of jobs after the next election, this kind of change suddenly looks good.
We are committed to a referendum on the voting system for the House of Commons. An independent commission on voting systems will be appointed early to recommend a proportional alternative to the first-past-the-post system.
The problem is people also don't want Labour, it's just the lesser evil, so instead of voting pro labour they're voting anti Tory. Id call that a failed election.