Nick Clegg attends a press statement in German Ministry of Economy on November 26, 2014 in Berlin. Photograph: Getty Images.
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Why the TV debates would hurt the Lib Dems

Without a distinctive message to offer, Nick Clegg's party could be left looking irrelevant. 

For the Lib Dems, the 2010 TV debates were a boon. Although they couldn't sustain the dizzy heights of "Cleggmania", the party won a million more votes than in 2005, despite the fading of the Iraq factor and the close contest between the Conservatives and Labour (making it theoretically easier for the big two to squeeze them). True, the Lib Dems won five fewer seats but they would likely have performed even worse in the absence of the debates. 

Should the face-offs be repeated, however (and David Cameron remains notably equivocal), the Lib Dems will now likely be among the losers, rather than the winners. The proposed 7-7-2 format is perhaps the worst outcome they could have hoped for. As Cameron somewhat cruelly noted during a recent session of PMQs, the Lib Dems, despite their role in government, are now being treated as a "minor party". Rather than taking his place alongside the PM and Ed Miliband in a repeat of 2010's three-way (as he hoped), Nick Clegg will now be one among many in the two proposed seven-ways (featuring the three main parties, Ukip, the Greens, the SNP and Plaid Cymru).

For the Lib Dem leader, this is a baleful fate. His party's election pitch has been defined by splitting the difference between Labour and the Tories, vowing to gift the former a "spine" (through greater fiscal conservatism) and the latter a "heart" (through greater social justice) in the event of another hung parliament. Had Clegg won a place in the proposed three-way, that moderating message may well have resonated with voters who don't trust Labour with their money, or trust the Tories with public services. 

But it is far harder to deliver on a stage crowded with seven participants. Next to Ukip, the Greens (currently eating into the party's base) and assorted nationalists, the Lib Dems will struggle to stand out. It is precisely this lack of distinction that has troubled figures on the party's left, such as Tim Farron, and on its right, such as Jeremy Browne, both of whom, in different ways, have called for a more radical affirmation of liberal values. As Browne told me when I interviewed him last year: "I don’t think you want to stand up and say, 'Vote for us, we’ll split the difference between the two parties. Vote for us, we’ll modify them.' I don’t think that is a compelling pitch ... If you go to church, you might be happy to hear a bit about the fundraising appeal to mend the roof but you go to church because you want to hear about God."

Sidelined in the seven-way, and locked out of the two-way, the danger for the Lib Dems is that the debates would leave them looking more irrelevant than ever. 

George Eaton is political editor of the New Statesman.

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Is anyone prepared to solve the NHS funding crisis?

As long as the political taboo on raising taxes endures, the service will be in financial peril. 

It has long been clear that the NHS is in financial ill-health. But today's figures, conveniently delayed until after the Conservative conference, are still stunningly bad. The service ran a deficit of £930m between April and June (greater than the £820m recorded for the whole of the 2014/15 financial year) and is on course for a shortfall of at least £2bn this year - its worst position for a generation. 

Though often described as having been shielded from austerity, owing to its ring-fenced budget, the NHS is enduring the toughest spending settlement in its history. Since 1950, health spending has grown at an average annual rate of 4 per cent, but over the last parliament it rose by just 0.5 per cent. An ageing population, rising treatment costs and the social care crisis all mean that the NHS has to run merely to stand still. The Tories have pledged to provide £10bn more for the service but this still leaves £20bn of efficiency savings required. 

Speculation is now turning to whether George Osborne will provide an emergency injection of funds in the Autumn Statement on 25 November. But the long-term question is whether anyone is prepared to offer a sustainable solution to the crisis. Health experts argue that only a rise in general taxation (income tax, VAT, national insurance), patient charges or a hypothecated "health tax" will secure the future of a universal, high-quality service. But the political taboo against increasing taxes on all but the richest means no politician has ventured into this territory. Shadow health secretary Heidi Alexander has today called for the government to "find money urgently to get through the coming winter months". But the bigger question is whether, under Jeremy Corbyn, Labour is prepared to go beyond sticking-plaster solutions. 

George Eaton is political editor of the New Statesman.