I’ve spent the last week glued to the television. I hardly watch any normally, so this is enough to feel pretty exhausting. There is some opposition already about the coalition government, but – for some aspects at least of the new economics – it seems to me to open up some thrilling possibilities.
Yes, I am also a Liberal Democrat (I think I ought to declare my political leanings at this point) so my heart is bound to leap a little at the thought of Liberals being in government for the first time for 65 years.
But even if I wasn’t, the cancellation of the Heathrow third runway – in the face of all those corporate lobbyists, and all that money – would be enough to make me prick up my ears.
For the emerging new economics, there are at least four areas where things may now move quite fast:
- Tackling the banks: Vince Cable will be doing more than just putting in place the banking levy, the coalition agreement has set out a path towards breaking them up – and creating a more diverse, local and mutual banking system.
- Localism: it wasn’t clear whether there was anything behind the Conservative commitment to localism. Now there is: the coalition has committed itself to large scale decentralisation of power.
- Low carbon economy: did Cameron know what this was when he used the phrase? That isn’t clear. Why did Clegg repeatedly use the phrase ‘green sustainable growth’? That isn’t clear either. It is up to us to define it on their behalf, but it is clear that the political will is there for a major shift.
- Co-production: the same applies to the so-called ‘Big Society’. It wasn’t clear if there was any thought-through policy to support it. Now there is a commitment to devolve power to communities, and – if co-production is not explicitly on the agenda – there is a hole in coalition policy shaped like co-production.
But for some of these, if not all, the political rules have now changed. Two of the new cabinet in particular now control both elements of a potential Green New Deal, Vince Cable and Chris Huhne. But if Cable acts on radical reform of the banking system, he will do so in the face of bitter opposition from the City of London and elements among bankbench Conservative MPs.
What he, and those like him, are going to need is explicit political support – as well as research, information and basic cheerleading – if they are going to be able to press forward their ambitions.
Those of us in the voluntary sector, or in campaigning NGOs, who have become used to simply demanding things of politicians, are going to need to develop a more sophisticated strategy.
We are going to encourage and then protect those ministers capable of creating a new economic revolution. Tackling the banks and building a low-carbon economy is a matter of co-production, and our side of the work starts now.