Nick Clegg and Ed Miliband attend a ceremony at Buckingham Palace to mark the Duke of Edinburgh's 90th birthday on June 30, 2011 in London. Photograph: Getty Images.
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Whisper it, but there's almost nothing Labour and the Lib Dems disagree on

Compared to the New Labour years, the degree of policy overlap between the two parties is remarkable.

Yesterday's PMQs bout between Harriet Harman and Nick Clegg was one of the most quietly revealing for months. Berated by Harman over the Lib Dems' support for the NHS reforms, the bedroom tax and the abolition of the 50p tax rate, Clegg chose not to respond by defending his party's conduct or by dismissing Labour as a juvenile opposition unprepared for "grown up" government. Instead, he devoted almost all of his time to condemning the last Labour government: "the party of 40p [tax], sweetheart deals in the NHS, the party of Fred Goodwin, and the party against apprenticeships". 

Clegg's nostalgia for the pre-2010 era is understandable. Back then, the Lib Dems were able to draw a series of progressive and politically beneficial dividing lines with Labour: the Iraq war, civil liberties, tuition fees, electoral reform, tax, banking regulation and NHS privatisation. But owing to Ed Miliband, these differences have expired. In his first speech as Labour leader, which I described at the time as "a love letter to Lib Dem voters", Miliband condemned the Iraq war ("I do believe that we were wrong"), denounced New Labour's approach to civil liberties ("government can itself become a vested interest"), criticised the introduction of top-up fees ("stuck in old thinking about higher and higher levels of personal debt"), the refusal to tax the rich fairly and the "light touch" system of financial regulation ("responsibility in this country shouldn’t just be about what you can get away with.") Far from being the party of 40p, sweetheart deals in the NHS and Fred Goodwin, Labour has become the party of 50p, anti-privatisation deals in the NHS and Glass-Steagall.

Compared to the Blair-Brown years, the degree of policy consensus between Miliband and Clegg's parties is remarkable. The Labour leader's support for an in/out EU referendum following any new transfer of powers from Britain to Brussels (a stance identical to that of the Lib Dems) is the latest in a long list of areas where the reds and the yellows have converged. Both parties now support: 

- A referendum on EU membership the next time any powers are transferred (and support for an "in" vote)

- The introduction of a mansion tax on property values above £2m 

- The reduction of the voting age to 16 

- The removal of Winter Fuel Payments from wealthy pensioners 

- A 2030 decarbonisation target 

- An elected House of Lords

- Greater oversight of the intelligence services 

- Radical devolution from Westminster to local authorities and city regions

- Party funding reform

- An end to unqualified teachers in state schools 

- A ban on for-profit free schools 

- Tougher banking regulation and the potential separation of banks' retail and investment arms 

- A mass housebuilding programme, including new social housing 

- The Human Rights Act

After all of these, the remaining differences between the parties (with the possible exception of deficit reduction and electoral reform) are largely trivial. Labour, for instance, has pledged to reintroduce the 10p tax rate, while the Lib Dems are committed to a higher personal allowance of £12,500. The Lib Dems are resolutely opposed to Miliband's planned energy price freeze. But it is easy to imagine the parties coming to an agreement ("we'll give you your energy price freeze if you give us our £12,500 personal allowance") in the event of coalition negotiations.

While it suits both sides to play up their differences for political purposes (the retention of Lib Dem defectors is crucial to Labour's election chances), the reality is that, beyond the bluster, there is now very little they disagree on. As party president Tim Farron (and the party's likely next leader) told me last year: "I think he [Ed Miliband] is somebody who is genuinely of the Robin Cook wing of the Labour Party, from their perspective what you’d call the 'soft left'. Somebody who is not a Luddite on environmental issues, somebody who’s open minded about modernising our democracy, somebody who’s instinctively a bit more pluralistic than most Labour leaders and a bit more internationalist as well." Certainly it is impossible to imagine Clegg, or any other Lib Dem, ever delivering a Labour-facing version of his 2013 conference speech in which he listed 16 Conservatives policies he had blocked.

What is now clear is that it would be far easier for Labour and the Lib Dems to come to an agreement in 2015 than it would be for the Tories and the Lib Dems to do so. And if, as is possible, both of the main parties win enough seats to form a majority government with Lib Dem support that may prove very significant. 

George Eaton is political editor of the New Statesman.

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An unmatched font of knowledge

Edinburgh’s global reputation as a knowledge economy is rooted in the performance and international outlook of its four universities.

As sociologist-turned US Senator Daniel Patrick Moynihan recognised when asked how to create a world-class city, a strong academic offering is pivotal to any forward-looking, ambitious city. “Build a university,” he said, “and wait 200 years.” He recognised the long-term return such an investment can deliver; how a renowned academic institution can help attract the world. However, in today’s increasingly globalised higher education sector, world-class universities no longer rely on the world coming to come to them – their outlook is increasingly international.

Boasting four world-class universities, Edinburgh not only attracts and retains students from around the world, but also increasingly exports its own distinctively Scottish brand of academic excellence. In fact, 53.9% of the city’s working age population is educated to degree level.

In the most recent QS World University Rankings, the University of Edinburgh was named as the 21st best university in the world, reflecting its reputation for research and teaching. It’s a fact reflected in the latest UK Research Exercise Framework (REF), conducted in 2014, which judged 96% of its academic departments to be producing world-leading research.

Innovation engine

Measured across the UK, annual Gross Value Added (GVA) by University of Edinburgh start-ups contributes more than £164m to the UK economy. In fact, of 262 companies to emerge from the university since the 1960s, 81% remain active today, employing more than 2,700 staff globally. That performance places the University of Edinburgh ahead of institutions such as MIT in terms of the number of start-ups it generates; an innovation hothouse that underlines why one in four graduates remain in Edinburgh and why blue chip brands such as Amazon, IBM and Microsoft all have R&D facilities in the city.

One such spin out making its mark is PureLiFi, founded by Professor Harald Haas to commercialise his groundbreaking research on data transmission using the visible light spectrum. With data transfer speeds 10,000 times faster than radio waves, LiFi not only enables bandwidths of 1 Gigabit/sec but is also far more secure.

Edinburgh’s universities play a pivotal role in the local economy. Through its core operations, knowledge transfer activities and world-class research the University generated £4.9bn in GVA and 44,500 jobs globally, when accounting for international alumni.

With £1.4bn earmarked for estate development over the next 10 years, the University of Edinburgh remains the city’s largest property developer. Its extensive programme of investment includes the soon-to-open Higgs Centre for Innovation. A partnership with the UK Astronomy Technology Centre, the new centre will open next year and will supply business incubation support for potential big data and space technology applications, enabling start-ups to realise the commercial potential of applied research in subjects such as particle physics.

It’s a story of innovation that is mirrored across Edinburgh’s academic landscape. Each university has carved its own areas of academic excellence and research expertise, such as the University of Edinburgh’s renowned School of Informatics, ranked among the world’s elite institutions for Computer Science. 

The future of energy

Research conducted into the economic impact of Heriot-Watt University demonstrated that it generates £278m in annual GVA for the Scottish economy and directly supports more than 6,000 jobs.

Set in 380-acres of picturesque parkland, Heriot-Watt University incorporates the Edinburgh Research Park, the first science park of its kind in the UK and now home to more than 40 companies.

Consistently ranked in the top 25% of UK universities, Heriot-Watt University enjoys an increasingly international reputation underpinned by a strong track record in research. 82% of the institution’s research is considered world-class (REF) – a fact reflected in a record breaking year for the university, attracting £40.6m in research funding in 2015. With an expanding campus in Dubai and last year’s opening of a £35m campus in Malaysia, Heriot-Watt is now among the UK’s top five universities in terms of international presence and numbers of international students.

"In 2015, Heriot-Watt University was ranked 34th overall in the QS ‘Top 50 under 50’ world rankings." 

Its established strengths in industry-related research will be further boosted with the imminent opening of the £20m Lyell Centre. It will become the Scottish headquarters of the British Geological Survey, and research will focus on global issues such as energy supply, environmental impact and climate change. As well as providing laboratory facilities, the new centre will feature a 50,000 litre climate change research aquarium, the UK Natural Environment Research Council Centre for Doctoral Training (CDT) in Oil and Gas, and the Shell Centre for Exploration Geoscience.

International appeal

An increasingly global outlook, supported by a bold international strategy, is helping to drive Edinburgh Napier University’s growth. The university now has more than 4,500 students studying its overseas programmes, through partnerships with institutions in Hong Kong, Singapore, China, Sri Lanka and India.

Edinburgh Napier has been present in Hong Kong for more than 20 years and its impact grows year-on-year. Already the UK’s largest higher education provider in the territory, more than 1,500 students graduated in 2015 alone.

In terms of world-leading research, Edinburgh Napier continues to make its mark, with the REF judging 54% of its research to be either world-class or internationally excellent in 2014. The assessment singled out particular strengths in Earth Systems and Environmental Sciences, where it was rated the top UK modern university for research impact. Taking into account research, knowledge exchange, as well as student and staff spending, Edinburgh Napier University generates in excess of £201.9m GVA and supports 2,897 jobs in the city economy.

On the south-east side of Edinburgh, Queen Margaret University is Scotland’s first university to have an on-campus Business Gateway, highlighting the emphasis placed on business creation and innovation.

QMU moved up 49 places overall in the 2014 REF, taking it to 80th place in The Times’ rankings for research excellence in the UK. The Framework scored 58% of Queen Margaret’s research as either world-leading or internationally excellent, especially in relation to Speech and Language Sciences, where the University is ranked 2nd in the UK.

In terms of its international appeal, one in five of Queen Margaret’s students now comes from outside the EU, and it is also expanding its overseas programme offer, which already sees courses delivered in Greece, India, Nepal, Saudi Arabia and Singapore.

With 820 years of collective academic excellence to export to the world, Edinburgh enjoys a truly privileged position in the evolving story of academic globalisation and the commercialisation of world-class research and innovation. If he were still around today, Senator Moynihan would no doubt agree – a world-class city indeed.

For further information www.investinedinburgh.com