Parliamentary Voting System and Constituencies Bill

Will the noble Lord clear up one crucial issue for me, at least, and I hope for the House, about the Liberal Democrats’ approach to this referendum? They constantly refer to it as a compromise—and whether it is miserable or not is for others to decide—while several are on record as saying that it is a step in the right direction. If there is a referendum next May and the result is in favour of the alternative vote, although I hope it is not, for how long do the Liberal Democrats consider that decision to be binding?