If I were a Lib Dem strategist, I would be praying that the 2015 general election delivers a hung parliament where Labour is the biggest party but needs the Lib Dems to form a government. Why not the Tories? Simply because that risks creating the image (and possibly the reality) of the Lib Dems becoming nothing more than the Euro-friendly arm of the Conservative party. And in the long term that means political extinction as their more left-leaning voters turn away after another parliament of supporting rightwing policies. On the other hand, a coalition with Labour not only allows the Lib Dems to reassert their identity, but it has the added bonus of getting the electorate more used to the idea that a third party which holds the balance of power can stay in government from one election to another.

Very interesting, but so what? Well, if I were a Labour strategist I would be using this thought process to trigger pre-election negotiations with the Lib Dems. These would be aimed at both limiting the ability of the current coalition government to impose more Tory-inspired misery on the British public and to improve Labour’s chances in 2015. To achieve this, these would be my key points in negotiations:

1.    Economic policy – no coalition is possible if the partners have wildly different views on how to manage the economy. That’s why Nick Clegg had to have his Damascene conversion on the need for massive cuts during the coalition negotiations (you remember – the one supposedly triggered by a conversation with Mervyn King, which the governor of the Bank of England didn’t remember taking place). This means that if they hope to enter a coalition with us in 2015, there is no way the Lib Dems can go into the general election still blaming Labour for the economic situation and supporting the Tory ‘too far, too fast’ cuts programme. Instead, we would need to see a significant change in their language and behaviour prior to 2015. This means stopping trying to palm off the coalition’s economic mistakes on ‘clearing up the mess Labour left’, visibly arguing for a slowing down of the austerity programme and starting to oppose specific cuts.

2.    Nick Clegg – nothing personal but, following his broken promises on tuition fees and more, he is the most vilified politician in the current government (although George Osborne is doing his best to change this) and I don’t believe that the British public would accept him staying on the frontbench of a new administration. It’s the same position we had with Gordon Brown after the 2010 election. This means that the Lib Dems will need a new leader. I don’t think Danny Alexander or David Laws are out as a matter of principle, but Vince Cable, Tim Farron or Simon Hughes would clearly be more acceptable candidates. Would this change have to take place prior to the election? I believe it would, ideally coinciding with the Lib Dems leaving the current Coalition and starting to campaign on a programme much closer to Labour’s.

3.    House of Lords reform – while Clegg’s bill was fundamentally flawed and more to do with David Cameron’s gerrymandering then genuine reform, Labour must support a properly thought-out redesign of the second chamber that makes it more accountable. Starting working jointly on these proposals now would enable us to campaign on a similar platform in 2015. In return, Lords reform and the boundary review would need to be permanently taken off the agenda for this parliament.

I appreciate that this might seem an odd debate to be having when we’re riding high in the polls and the coalition can’t seem to put a foot right. But let’s not forget that it’s midterm. As we get closer to the 2015 election we should expect both the Tories and the Lib Dems to bounce back. How high that bounce takes them will depend on what happens over the next two and a half years, but another hung parliament can’t be ruled out, and we’d do well to prepare for that eventuality now rather than in May 2015.

Rhea Keehn is a Labour campaigner and member of Progress. She tweets @RheaKeehn

Photo: The Prime Minister’s Office