We were addressed late last night by Prime Minister Cameron about the Conservative-Liberal Democrat Coalition.

Whilst Conservatives have accepted a referendum on the Alternative Vote, the Liberals have acceded to a Referendum Lock on any future EU treaties.

Both parties have agreed major tax reform and have accepted the Liberal manifesto proposal to raise the income tax threshold. There is agreement on cutting the deficit now, education reform and green issues.

One move I particularly welcome is the decision to have fixed-term Parliaments - something I have long supported. The Prime Minister stated that the next election would be in May 2015, implying that legislation would be brought in to make this a reality. Never again will election timing be used as a political instrument by Governments for their own party advantage.