Nick Clegg has robbed my party of its soul - he must go now

Those on the left of the party have been treated with contempt as Clegg seeks to transform the Lib Dems into a free market sect.

I am in mourning. In mourning for my once great and principled party which, judging by the past week, believes in very little that it once held dear.

From opposition to nuclear power to being against a replacement for Trident and supporting a 50p tax rate for the highest earners, we’ve seen these and other totemic policies abandoned. It makes me think some commentators are right when they say that Nick Clegg has all but completed his transformation of the Liberal Democrats from a party which was to the left of Labour (or at least New Labour) to one that is now an annex to the Conservative Party. 

I’ve long argued that what Clegg wants to do is turn the Lib Dems into a British version of the German FDP. The free-market FDP wins a very small percentage of the vote but seems to remain permanently in government as a parasitical attachment to the conservative coalition led by Angela Merkel.

That kind of thing must surely not be the aim of the Liberal Democrats. Of course we’re pluralists and believe in working with other parties. But we shouldn’t ignore our own history and rubbish our own principles just so our mnisters can keep their hands on red boxes.

Our history brings up names like Keynes, Beveridge, and Grimond, radical social liberals. And, yes, other names such as Roy Jenkins and Shirley Williams. As councillor and London Assembly Member Stephen Knight reminded us at a fringe put on by Liberal Left at this week’s Liberal Democrat conference, our party is a successor to two fine traditions, not just liberalism but also social democracy. Some would like to wipe the SDP from our history, but others, such as Vince Cable, continue to self-define as social democrats and we will not allow that fine tradition to be forgotten.

But over and above policy matters, what has upset me most this week has been the way some in our party, including Nick Clegg, treat those on the left. We’re belittled, patronised and treated with ridicule. Like embarrassing relatives, we're tolerated but not wanted.

Perhaps the worst example of this came during Clegg’s Q&A session when, before she’d even asked a question, Clegg made belittling comments about my colleague and friend Linda Jack, the chair of Liberal Left and one of the nicest and most principled people in our party.

When Linda did ask a question, she asked Clegg whether people such as her still had a place in the party. Clegg answered by not answering; he just talked about that morning’s economy motion. Any reasonable leader, regardless of whether they agreed with a certain individual, would have said, "Of course you have a place in our party, we’re a broad church". 

He said no such thing, which makes many of us feel like he’d really quite like us to leave the party so the transformation of the Liberal Democrats from a social liberal party to an economic liberal party will be complete.

Well, I have a very clear message for Mr Clegg and his acolytes: we’re going nowhere. As Janice Turner of the Social Liberal Forum said at the Liberal Left fringe, "this is our party too." Of course we’ve done good things in government, from re-linking pensions to earnings, to enacting Equal Marriage, but we’ve also compromised and capitulated too often and acquiesced too much.

So, after three years of biting my tongue, hoping for a better day and defending his leadership, I now call on Nick Clegg to go. What residual respect I had left for him was destroyed this week by the way he and his ilk referred to and dealt with those who dared to disagree with them.

Those of us on the centre-left of our party, who I believe continue to be its mainstream, will, despite it all, continue to fight for what we believe. A couple of years ago, at a Lib Dem conference not long after the coalition was formed, Nick Clegg told delegates, "we’ll never lose our soul."

Sadly, I fear we have.

Mathew Hulbert is a Liberal Democrat borough and parish councillor in Leicestershire

Nick Clegg delivers his speech at the Liberal Democrat conference in Glasgow. Photograph: Getty Images.

Mathew Hulbert is a Liberal Democrat Borough and Parish Councillor in Leicestershire

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I was wrong about Help to Buy - but I'm still glad it's gone

As a mortgage journalist in 2013, I was deeply sceptical of the guarantee scheme. 

If you just read the headlines about Help to Buy, you could be under the impression that Theresa May has just axed an important scheme for first-time buyers. If you're on the left, you might conclude that she is on a mission to make life worse for ordinary working people. If you just enjoy blue-on-blue action, it's a swipe at the Chancellor she sacked, George Osborne.

Except it's none of those things. Help to Buy mortgage guarantee scheme is a policy that actually worked pretty well - despite the concerns of financial journalists including me - and has served its purpose.

When Osborne first announced Help to Buy in 2013, it was controversial. Mortgage journalists, such as I was at the time, were still mopping up news from the financial crisis. We were still writing up reports about the toxic loan books that had brought the banks crashing down. The idea of the Government promising to bail out mortgage borrowers seemed the height of recklessness.

But the Government always intended Help to Buy mortgage guarantee to act as a stimulus, not a long-term solution. From the beginning, it had an end date - 31 December 2016. The idea was to encourage big banks to start lending again.

So far, the record of Help to Buy has been pretty good. A first-time buyer in 2013 with a 5 per cent deposit had 56 mortgage products to choose from - not much when you consider some of those products would have been ridiculously expensive or would come with many strings attached. By 2016, according to Moneyfacts, first-time buyers had 271 products to choose from, nearly a five-fold increase

Over the same period, financial regulators have introduced much tougher mortgage affordability rules. First-time buyers can be expected to be interrogated about their income, their little luxuries and how they would cope if interest rates rose (contrary to our expectations in 2013, the Bank of England base rate has actually fallen). 

A criticism that still rings true, however, is that the mortgage guarantee scheme only helps boost demand for properties, while doing nothing about the lack of housing supply. Unlike its sister scheme, the Help to Buy equity loan scheme, there is no incentive for property companies to build more homes. According to FullFact, there were just 112,000 homes being built in England and Wales in 2010. By 2015, that had increased, but only to a mere 149,000.

This lack of supply helps to prop up house prices - one of the factors making it so difficult to get on the housing ladder in the first place. In July, the average house price in England was £233,000. This means a first-time buyer with a 5 per cent deposit of £11,650 would still need to be earning nearly £50,000 to meet most mortgage affordability criteria. In other words, the Help to Buy mortgage guarantee is targeted squarely at the middle class.

The Government plans to maintain the Help to Buy equity loan scheme, which is restricted to new builds, and the Help to Buy ISA, which rewards savers at a time of low interest rates. As for Help to Buy mortgage guarantee, the scheme may be dead, but so long as high street banks are offering 95 per cent mortgages, its effects are still with us.