Pete is right: the Liberal Democrats have their issue and it’s a good one. It makes sense for them to be more hawkish on the deficit and debt than either of the larger parties. That way they can present themselves as a sensible restraining influence in the event of a hung parliament that creates room for a coalition.
But who should that coalition be with? Understandably Clegg and Cable will do their utmost to avoid answering that question; doubtless they will insist that it all depends on, you know, the result.
Nevertheless, having reinvented themselves as Deficit Hawks it would, on the face of it, be absurd to the Lib Dems to climb into bed with the Labour party. Sure, they have substantial differences with the Tories (not least on europe and electoral reform) but then they difer from Labour too (not least on civil liberties – an area in which the Lib Dems, again, are much the best of the parties).
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