Good analysis of the election by Michael Barone. What would been the result had it been May against Corbyn as in a presidential election?
http://www.washingtonexaminer.com/barone-breaking-down-theresa-mays-disastrous-night/article/2625473
The Conservatives' idea was that if the 2015 Ukip vote, 12.9 percent of the popular vote, went solidly for Conservatives, that would propel them even farther ahead of their 2015 plurality of 38 to 31 percent over the Labour party. But the returns overall show that Ukip's plummet to irrelevance produced more in the way of gains for Labour than for Conservatives. The Conservative percentage of popular vote, as I write, is up 5.6 percent, while Labour's is up 9.5 percent.
The election heralds a return toward the traditional two-party politics of Britain. As those 2015 number show, Britain has had relatively low percentages for the two major parties. This year, the Ukip vote has plummeted to 1.9 percent of the popular vote. It's a classic example of what happens to a political movement when it achieves its goals: voters discard it and move on.
Thus in the United States when conservatives (mostly) achieved great policy success on crime and welfare in the 1990s, those issues stopped working from Republicans. Similarly, the Liberal Democrats who in 2015 lost the great majority of their seats after serving in the coalition government with David Cameron's Conservatives, have also not bounced much back, except in Scotland where they (but less than the Conservatives) won seats from the Scottish Nationalists, who had won 56 of 59 Scotland's seats in 2015. Jeremy Goodall, a commentator on Sky News, noted that the two major parties each won more than 40 percent in the last election, in the 1970s, before the United Kingdom joined the European Union, and that they have done so again only now that Britain decided to leave the European Union. Coincidence?
The Labour party also benefited from the widespread assumption that they had no chance to win. For many voters, that meant you could vote for a party led by the astonishingly leftist—and terrorist-sympathizing and antisemitism-sympathizing—Jeremy Corbyn, without really putting him in control of the government. I suspect this helped him with Remain voters in upscale districts, especially in metropolitan London and the very high-income areas in the south of England who voted for Remain.