Can the Conservative Partys success in the inter-war period be explained largely in terms of splits among its rivals?

It is true that during the inter-war period, the Conservative Party were exceptionally successful in elections, while the rival parties appeared to be split.  The Liberals were declining, and appeared to be making very little effort to court those voters that would have saved this.  There were also divisions among the party leaders.  Despite the rise in popularity of Labour, the party still appeared to be split at times, and lacked the experience of being in Government at a time when crisis called for this.  However, it is wrong to say that the Conservatives success during this time was largely down to these splits in the Liberals and Labour.  Politics is controlled by many different things, and these are changing all the time….(short extract)