To avoid frivolous elections, each candidate during the general election puts down a £500 deposit which will be returned if they gain 5% of the vote.

After the catastrophic Liberal Democrat result this general election, they have lost over £165,000 in parliamentary deposits, with 330 candidates not gaining enough votes.

In 2010, Liberal Democrats did not lose a single deposit but this year they lost thousands of pounds due to the backlash of their coalition with the Conservatives.

As a consequence of the tuition fee rise, voters have punished Liberal Democrats for betraying their 2010 manifesto promise.

This mentality disregards the policies that the Liberal Democrats proposed, including gay marriage, voting referendum and pension reform.

One of the lowest percentage of votes was at Conservative Castle Point where Liberal Democrat Sereena Davey only got 2%.

In this election the party lost 46 seats and only won 8 in total, including the leader, Nick Clegg.

Speaking at the Sheffield Hallam, Mr Clegg said: "It is now painfully clear this has been a cruel and punishing night for the Liberal Democrats.

"The election has profound implications for the country and for the Liberal Democrats. I will be seeking to make further remarks about the implications of this election - both for the country and for the party that I lead and for my position in the Liberal Democrats - when I make remarks to my colleagues in the Liberal Democrats later this morning when I return to Westminster."

Liberal Democrats that were voted out include heavy-weights: Simon Hughes, MP for 31 years; Former Home Office Minister, Norman Baker and Ed Davey. At 10.47 they had only received 7.7% of the vote, yet in 2010 they had 23%.

The IPSOS exit poll declared that the SNP will gain 58 seats and Liberal Democrat will only have 10 and pollsters, party members and pundits were shocked.

Even Lord Ashdown who promised to eat his hat if the exit poll was true, instead swallowed his words.

The Liberal Democrats have a lot to think about their future and what is best for their party and for the country in order to pay for their coalition mistake.

These decisions will also no longer be up to Nick Clegg since do to this disastrous result he has stood down as leader of the Liberal Democrats.