But if Count Binface convinces them to tactically withdraw, that would be a Loony–Bin pact

Binface's speculation to the media is that the Monster Raving Loony party may split the vote with Farage instead as that is closer to where his loyalties lie.

Their policies are obviously not compatible, I just don't see how that could work out for either party. Sure you could get more votes that way, but the honourable thing to do is to run seperately.