The NDP has done well wielding the balance of power over the past year, and seems disinclined to lose its leverage by triggering an early election. Horwath has hinted that she is in no hurry to bring down the Liberals and will try again to make minority government work. Hudak’s Tories remain mired in debt and may be content to keep their powder dry as they reorient themselves rightward with neo-con policies appealing to bedrock Tories.
And an economic turn-around absolves many sins. We're probably not there yet in Ontario, despite what the last couple of month's jobs data look like, but the longer a OLP government can hang on, the likelier it will arrive while they're in power and they'll get credit. Remember, though, if there is a 2013 election: its only Tim Hudak.