Vince Cable, 69, thinks the "worship of youth" by political parties may be over

Whatever could the subtext be?

In an interview with the Financial Times today, Vince Cable made some intriguing comments about the future of the Liberal Democrats. Asked whether he would ever run for the leadership of the party, he said:

I don’t exclude it – who knows what might happen in the future.

He also said:

The worship of youth has diminished – perhaps generally – in recent years.

and hit back at attempts to portray him as far too left-wing, criticising the "macho right" of the Tories:

When I made my statement on executive remuneration and responsible capitalism, I had some of those backbenchers jumping saying this is socialism or Marxism, they just completely don’t get it.

So, to recap, Vince Cable is not ruling out leading the Lib Dems, doesn't think he's too old to do so at 69, and is keen to talk about how he speaks out on City pay and capitalism, but isn't a frothing left-winger.

Of course, none of this means he is anything less than totally supportive of Nick Clegg, who is

doing a good job and is standing up to the pressures.                                               

PS. The FT interview is well worth a read in full, if you have a subscription. There's a touching section on his two marriages and his love of "strong women:

Olympia, who died of cancer in 2001, was the first of two strong women in Cable’s life. “She would let me watch Match of the Day if I did the ironing at the same time,” the minister jokes. Rachel, the second, keeps horses in the New Forest. Today Cable wears two wedding bands on his finger.

Cable also likes working with strong women. Four out of five of Cable’s private secretaries are female, and when he recently held a meeting to discuss curbs on excessive pay in Britain’s male-dominated boardrooms, four out of the six advisers in the room were women. Cable says he does not have a deliberate policy of employing female staff, but adds: “I’ve always been comfortable working with women and I’ve had two happy marriages. Draw what conclusions you like from that.”

Vince Cable. Photo: Getty Images

Helen Lewis is deputy editor of the New Statesman. She has presented BBC Radio 4’s Week in Westminster and is a regular panellist on BBC1’s Sunday Politics.

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New New Labour: forget ideological purity – Jeremy Corbyn is building a mass appeal party

Rather than a Seventies revival, the Labour leader is creating a social democratic party giving opportunities to all parts of the population.

Does the general election result signal a new political and, dare I say it, public relations phase for Labour?

There is a consensus among commentators and MPs across the political spectrum that Jeremy Corbyn’s leadership has been a continuous struggle to revive the party’s ideological purity and rekindle its cultural and political relationship with the trade unions.

The Economist cover depicting Corbyn as Lenin with the caption “Backwards, Comrades!” encapsulated the mood about a leader thought to only offer old and sometimes toxic solutions to new problems such as the gig economy, Brexit, fintech and corporate taxation.

Criticisms about militant left politics and Seventies nostalgia exist in a political and cultural framework constructed and passionately preserved by New Labour and its proponents. New Labour was the mark of a newly reformed party that had detached itself from the politically and electorally incapacitating idea of common ownership of the means of production (known as Clause IV), and endorsed competitive market economics.

The 1996 manifesto “New Labour, New Life for Britain” set out the party’s “third way” approach to realign the free market with social justice. For New Labour, the state’s minimised role in the economy, the liberalisation of financial services and public-private partnerships can and will lead to an effective taxation system and investment in health, housing and education.

The intellectual architects of New Labour cast this ideological departure as a necessity for denouncing an alleged anachronistic and unrealistic socialist way of thinking, and effectively regaining the trust of the electorate.

Whereas Tony Blair’s New Labour embraced the free market for communicating the party’s modernisation, Corbyn subverts the logic of the free market for the same effect – to present a party fit to govern in the 21st century.

Corbyn’s leadership cannot and should not be perceived as a nostalgic return to a strong state thriving on high taxes and the provision of welfare at the expense of social mobility, entrepreneurship and ultimately electability. Instead, Corbyn’s leadership is an attempt to develop a New New Labour based on the premise of participatory democracy.

As we approach the tenth anniversary of perpetual financial crises, political volatility and consolidation programmes, citizens in the UK and across the world are frustrated with the lack of political imagination and determination.

The conviction of the efficiency of an independent market in every aspect of social life including health, housing and education prevents political leaders and policymakers from implementing radical ideas. Corbyn’s leadership and political programme highlighted the limitations of New Labour in times of crisis and distrust. New Labour has grown old, and the disbelief in socialism appears as a conservative dogma that only contributes to an ever-greater disparity between citizens and parliamentary politics.

The 2017 Labour manifesto, “For the Many Not the Few”, envisions a productive role for the state but such a role is neither restrictive nor a top-down affair. Corbyn’s New New Labour regains its legitimacy as a social democratic party – and the electorate’s trust – by striving to create opportunities on both national and local levels for all members of the population to make meaningful contributions to policymaking, and seeks to broaden the range of people who have access to these opportunities.

From crowdsourced Prime Minister’s Questions, massive mobilisation of activists inside and outside the party’s structures to the understanding of wealth creation as a collective endeavour, the Labour party has the potential to become a creative platform upon which membership, participation, individual ideas and anxieties do matter.

Progressive taxation, redistribution of wealth and nationalisation of key industries are nostalgic musings about lost political battles as long as there exist rigid boundaries between the citizen, politics and the economy. The restructuring of Labour and the redefinition of activism according to the principles of participatory democracy have enhanced the meaning of deliberation and proven that social democracy is capable of dynamic reform and renewal.

What does the future hold for Labour and its multiple ideological orientations? Condemning Tony Blair’s New Labour and praising Corbyn’s new kind of politics after beating expectations in the election is not enough. It should be the duty and aspiration of each Labour leader to formulate a New New Labour for a party that is faithful to its social democratic values and is able to govern by offering new solutions to new problems.

Dr Kostas Maronitis is a cultural and media sociologist, and lecturer at Leeds Trinity University. He is the author of “Postnationalism and the Challenges to European Integration in Greece”.