A busy October? Er, no
With all due respect to Jesse, I think the reason he's mentioned the story and no British bloggers have is, aside from it being Saturday, that he's not aware of some of the traditions of the British media. Specifically, this article is a fine example of that great British journalistic tradition known as the 'arse' (as in 'bunch of' or 'talking out of') which, of course, helped create the American dramatic tradition of the 'ass pull'.
What happens here is that a political journalist hasn't got a story to file. Having chased up all her sources who hadn't fled to the country for the weekend, there's still nothing to report so the journalist goes to the number one source for tabloid articles and pulls a story out of her arse. It fills a few columns, generates a nice dramatic headline and, most importantly, isn't going to get anything even approaching a confirmation or denial from Downing Street so people can say 'see? it might be true!' no matter how unlikely it may be.
Journalists' arse stories are similar, but not identical to, stories pulled out of a spin doctor's arse. An example of the latter is this week's front page in the Mail On Sunday proclaiming that 'Blair almost sacked Brown four times' - a story purely intended to try to show who's the boss in the Blair/Brown relationship, with no necessary relationship to the truth.
Of course, I could be entirely wrong, and there might be an election in October, but I seriously doubt the possibility. Labour are likely to do badly in June's elections, and an October election plan relies a bit too much on the Government having a good summer with nothing going wrong and everyone realising at some point over the next few months just how good for them the latest budget was. An October 2005 election is possible - indeed, I've already heard rumours of that being Blair's favoured date, but they may come from the same source as these latest rumours - but going to the country in October 2004 could easily be spun by the Opposition as a show of weakness rather than strength. After all, Major managed to run the country for almost five years with a majority that started at 21 and kept shrinking so surely Blair can run the country for four years with a majority eight times larger?