In the February 1974 UK general election, the Labour Party led by Harold Wilson gained 301 seats but was 17 short of a majority, resulting in a hung parliament. The Conservative Party held 297 seats. (source)
By the October 1974 election, Labour won a very small majority of 3 seats, securing 319 seats in total. (source)
The difference in majority between the two elections was therefore a shift from a hung parliament to a slim majority of 3 seats for Labour.