Below is a Venn Diagram (courtesy of the Telegraph) of where Tory, Liberal and Labour policy preferences overlap. Will Britain go orange or green?

Venn_1633095a

Gordon Brown's pledge to move on as soon as his party selects a new leader makes the future of Britain more likely to be orange than green. There's a lot that's murky right now but I suspect that electoral reform remains the stumbling block for a Cameron-Clegg coalition government. Cameron's right will not tolerate both an alliance with Liberals and a new electoral system that would ensure that there would almost certainly never be a solely Tory government in the future. Clegg's base is also extremely nervous of being coopted by the Tories in a government whose main task will be to slash public spending.

So the option of a Lib-Lab pact - as in the 1970s - is real again. If it works, I suspect it would mean some sort of move toward proportional representation - and a new era in British politics. It would also mean the entrenchment of Britain as a more European center-left social democracy - a decisive rejection of its Thatcherite re-orientation in the 1980s.

More interesting: both Labour and the Liberals are pointing to deficit reduction as their first priority. But could Clegg be prime minister? I doubt it. Here's the man I'd be looking at right now: David Miliband. But how soon could Labour switch its leader?

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