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If your voting system is First Past the Post, then yes. With the Jeffersonian Method or full Proportional Representation then you might get a 50/50 split of Liberal and whatever the second party is.
 
That could be solved by making socialists support political reform as well as social reform.

yes. it doesn't make sense to say democratic socialists / social democrats oppose political reform, when in RL they obviously did. it's ok for communists to oppose, it would make it more realistic if centre-left and centre-right democrats support political reform while extreme right and left don't.