THE CONSERVATIVE Party is pressurising the Liberal Democrats to put reform of the UK’s electoral voting rules on the back-burner to focus instead on cutting billions from public spending.
During a day of often frenetic scenes in Whitehall, negotiators for the two parties finished almost eight hours of talks before 6pm with an announcement that they would meet later today, following talks between Tory leader David Cameron and Liberal Democratic leader Nick Clegg.
The pressure on the Lib Dem leader to agree a deal could intensify today, if the financial markets, so far consumed by the euro crisis, turn their attention to sterling and British government bond rates.
Strikingly, the negotiators for the parties – Conservative MP William Hague and Liberal Democrat MP Danny Alexander – laid equal emphasis on the need for economic stability and cuts in the UK’s borrowing.
A minority Conservative government, helped with “a la carte” Lib Dem support, still remains the most likely outcome, but there is no doubt the Conservative leader is interested in a stronger alliance.
Last night he went to the House of Commons to talk to Tory MPs about the discussions so as to head off any possible revolt against the terms of any deal reached.
Conservative backbenchers will meet tonight. Nicholas Brady, tipped as favourite to take over as chairman of the 1922 Committee, said he personally favoured a minority government.
“I think my inclination is more towards seeking to operate as a minority government . . . and I think that is probably the mood of colleagues,” he said.
But he issued a polite warning to Mr Cameron: “It is vitally important that we do see a far more inclusive approach in these circumstances. If you don’t have an overall majority, you need to ensure you take people with you. It is not just a matter of getting an agreement now.”
The prime minister, Gordon Brown, who was sidelined on Friday by Mr Clegg’s decision to give the advantage to the Conservatives, yesterday held a meeting with the Liberal Democrats, which was revealed by accident.
Some Labour ministers want to head to the opposition benches, though others argue that a deal with the Liberal Democrats could still be done if Mr Brown indicated that he will stand down after pushing through electoral reforms.
This would meet the Lib Dems’ main demand, unlikely to be conceded by the Tories, and yet allow Labour to argue that it had not been forced to change its leader under pressure.
Mr Brown returned from Scotland yesterday and held talks with Peter Mandelson, Labour’s deputy leader Harriet Harman and other senior figures.