The opportunities for Cameron and Clegg in Eastleigh are as great as the dangers

Clegg has a chance to prove the Lib Dems won't be wiped out in 2015 and Cameron a chance to show how the Tories could win a majority.

The resignation of Chris Huhne as an MP heralds perhaps the most politically interesting by-election of this parliament. His Eastleigh constituency, just outside Southampton, is that most intriguing thing: a coalition marginal. His majority in 2010 was 3,864 over the Conservatives, with Labour a distant third. While the Guardian's Jonathan Freedland yesterday, set out the "problem for all parties" this by-election poses, it also presents some great opportunities.

Ipsos MORI’s latest poll in January had support for the Liberal Democrats at the lowest level recorded since 1990, on just eight per cent, with UKIP on nine per cent, the highest rating we have ever recorded.  At the other end, Labour had a 13-point lead over the Conservatives. Of course, this is the national picture and locally things can be very different, but it does illustrate the low ebb from which the Liberal Democrats will begin the by-election campaign.

This will be the first time since the formation of the coalition that the two parties will seriously do battle against each other for a Westminster seat. It may well prove a dry run for the general election as we get to see just how the two governing parties will set out their stalls. 

The Lib Dems have held Eastleigh since 1994 when they took the seat from the Conservatives in, appropriately enough, a by-election. At the four general elections since then, the Liberal Democrat majority over the Conservatives has never been more than 4,000. It was high on the Conservatives’ list of target seats in 2010 and will be again in 2015.

The opportunity then presents itself for the Tories to show that they can win seats from the Lib Dems at the next general election. If David Cameron and his party are to win a majority, it is seats like Eastleigh that will need to turn blue. The spoils of victory would bring a much-needed morale boost to the party and help to settle recent rumours of challenges to Cameron's leadership. 

The opportunity for the Lib Dems is also great. Winning a closely fought by-election against the Conservatives would be a huge boon to a party apparently struggling so badly in the polls. It would provide a shot in the arm for members, activists and their leaders. Nick Clegg and his team would have proved that the Liberal Democrats have not been wiped out by forming a coalition with the Conservatives and that they can hold seats at the general election.

For Ed Miliband and Labour the temptation must be to sit back, save valuable resources and watch the Tories and the Lib Dems tie themselves in knots campaigning against each other.

Since the 1994 by-election, when Labour came second, they have been less and less competitive in Eastleigh. In 2010, they won just 9.6 per cent of the vote (compared to the Liberal Democrats’ 46.5 per cent). However, think what a good performance, however unlikely, could do for Labour. Even coming second, as they did in 1994, would surely have Conservative and Liberal Democrat strategists staring at the 2015 drawing board. Miliband, a leader who has not quite convinced his own party's voters yet (only 53 per cent of Labour supporters are satisfied with his leadership compared to 75 per cent of Conservatives for Cameron), would show Labour has gained ground in areas where it was previously uncompetitive. 

In that 1994 by-election a little known Nigel Farage won just 169 more votes than Screaming Lord Sutch. Farage, now leader of UKIP, is being described as the "wildcard" in the 2013 by-election and will undoubtedly have a bigger impact on the results this time around.

But the UKIP leader has yet to decide whether he will run. The perils are obvious, if he runs and loses heavily it would slam the brakes on the momentum he and his party have been building over the last few years. A successful campaign – which does not necessarily just mean victory – would, by contrast, put further wind in the UKIP sails ahead of the general election. Farage may decide the personal risk is too great but still fully back another UKIP candidate. The opportunity for UKIP is to demonstrate that they remain a growing force in British politics.

The prospect of a strong UKIP campaign adds another dimension to the race, and allows political watchers to see the effect it can have on the other parties. We know that 43 per cent of UKIP voters voted for the Conservatives in 2010. So, will UKIP be successful in persuading Conservatives to actually vote for them and in large enough numbers to impact on the result? It is also the first electoral test for the Tories since Cameron’s promise of an in/out EU referendum. How will that impact on UKIP’s support, and what they campaign on? A damp squib of an election for UKIP could well vindicate Cameron’s decision to make the pledge.

In 2010, UKIP won just 3.6 per cent of the vote, but by-elections are unusual and can produce surprise results. Would George Galloway have won in Bradford West last year had it been a general election? Probably not, and it does not necessarily point to further success for the Respect Party in 2015. All of which throws up the prospect of another "unusual" result in Eastleigh which tells us nothing about the next general election.

This by-election is different though. It may not tell us who will win the general election but it will help to shape the narrative for all the parties, either inflating or deflating their political balloons, however temporarily. It will also give us a glimpse into some of the more intriguing aspects of 2015: how will the coalition parties fight each other? What impact will UKIP have on the outcome? Fortune though, favours the brave. There is a great deal to be won in Eastleigh for those who want it.

N.B. It is worth noting that this by-election came about because Chris Huhne asked his wife to take his speeding points; in 2006, 12 per cent of UK drivers said they would ask a friend of relative to take speeding points for them if they were facing a ban. 

Tom Mludzinski is deputy head of politics at Ipsos MORI

For the first time since the coalition was formed, the governing parties will do battle in a Lib Dem-Tory marginal. Photograph: Getty Images.

Tom Mludzinski (@tom_ComRes) is head of political polling at ComRes

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Cabinet audit: what does the appointment of Andrea Leadsom as Environment Secretary mean for policy?

The political and policy-based implications of the new Secretary of State for Environment, Food and Rural Affairs.

A little over a week into Andrea Leadsom’s new role as Secretary of State for Environment, Food and Rural Affairs (Defra), and senior industry figures are already questioning her credentials. A growing list of campaigners have called for her resignation, and even the Cabinet Office implied that her department's responsibilities will be downgraded.

So far, so bad.

The appointment would appear to be something of a consolation prize, coming just days after Leadsom pulled out of the Conservative leadership race and allowed Theresa May to enter No 10 unopposed.

Yet while Leadsom may have been able to twist the truth on her CV in the City, no amount of tampering will improve the agriculture-related side to her record: one barely exists. In fact, recent statements made on the subject have only added to her reputation for vacuous opinion: “It would make so much more sense if those with the big fields do the sheep, and those with the hill farms do the butterflies,” she told an audience assembled for a referendum debate. No matter the livelihoods of thousands of the UK’s hilltop sheep farmers, then? No need for butterflies outside of national parks?

Normally such a lack of experience is unsurprising. The department has gained a reputation as something of a ministerial backwater; a useful place to send problematic colleagues for some sobering time-out.

But these are not normal times.

As Brexit negotiations unfold, Defra will be central to establishing new, domestic policies for UK food and farming; sectors worth around £108bn to the economy and responsible for employing one in eight of the population.

In this context, Leadsom’s appointment seems, at best, a misguided attempt to make the architects of Brexit either live up to their promises or be seen to fail in the attempt.

At worst, May might actually think she is a good fit for the job. Leadsom’s one, water-tight credential – her commitment to opposing restraints on industry – certainly has its upsides for a Prime Minister in need of an alternative to the EU’s Common Agricultural Policy (CAP); a policy responsible for around 40 per cent the entire EU budget.

Why not leave such a daunting task in the hands of someone with an instinct for “abolishing” subsidies  thus freeing up money to spend elsewhere?

As with most things to do with the EU, CAP has some major cons and some equally compelling pros. Take the fact that 80 per cent of CAP aid is paid out to the richest 25 per cent of farmers (most of whom are either landed gentry or vast, industrialised, mega-farmers). But then offset this against the provision of vital lifelines for some of the UK’s most conscientious, local and insecure of food producers.

The NFU told the New Statesman that there are many issues in need of urgent attention; from an improved Basic Payment Scheme, to guarantees for agri-environment funding, and a commitment to the 25-year TB eradication strategy. But that they also hope, above all, “that Mrs Leadsom will champion British food and farming. Our industry has a great story to tell”.

The construction of a new domestic agricultural policy is a once-in-a-generation opportunity for Britain to truly decide where its priorities for food and environment lie, as well as to which kind of farmers (as well as which countries) it wants to delegate their delivery.

In the context of so much uncertainty and such great opportunity, Leadsom has a tough job ahead of her. And no amount of “speaking as a mother” will change that.

India Bourke is the New Statesman's editorial assistant.