Simplify the following text for a Grade 8 native English-speaking person.
Original: It is the largest political party in the UK , and is currently the largest single party in the House of Commons with 306 seats . It governs in coalition with the Liberal Democrats , with party leader David Cameron as Prime Minister .
Simplified: They are the largest party in the British House of Commons with 307 out of 650 seats and the party leader David Cameron is the Prime Minister .