The current voting system is
Only first preference votes are counted initially. Anyone getting more than 50% of these is elected automatically.
The suggested system is
Only first preference votes are counted initially. Anyone getting more than 50% of these is elected automatically. If that doesn't happen, the candidate with the fewest votes is eliminated and their second choices allocated to the remaining candidates in a second round of counting. If one candidate then has more than 50% of the votes in this round they are elected. If not, the remaining candidate with the fewest votes is eliminated and their second preferences (or third preferences if they were the second choice of someone who voted for the first candidate to be eliminated) reallocated. This continues until one candidate has 50% or more of the vote in that round of counting.
Anyone else notice that the suggested system is the same as the old system - except in the situations when nobody gets a majority?
In these cases, the public get to decide what happens, by specifying their "next best" preference. This can only be better than leaving it upto politicians to form a coalition.
I'll be voting Yes, seems quite obvious.
Source:
http://www.bbc.co.uk/news/uk-politics-11243595