The upside for Labour is they’ve got the place to themselves.
Which is good for the markets. Markets don’t like the Greens, they don’t like the uncertainty of the Greens, and although the Greens will be there, it will be in a non-confrontational ‘don’t break the china’ kind of way.
This is FPP in all but name, and whether that’s Covid or whether that’s us deciding MMP doesn’t work who would know
But the last government was pure MMP. Three parties that muddled along with handbrakes, standoffs and the lack of progression you’d expect from a lot of behind the scenes compromise.
So the up side is you can do what you want. Down side is, do they know what they want to do really?