HAROLD Wilson (who for younger readers was a Labour Prime Minister in the 1960s and 1970s) is remembered for his off-the-cuff remarks. Perhaps the most famous is “a week is a long time in politics”. Indeed!

On Monday I travelled to London to a meeting of Liberal Democrat peers for a briefing on the latest position – a deal offered by the Tories but not yet good enough.

Most of us urged our team of negotiators to talk seriously to Labour in spite of the real problem that Lib-Lab does not add up to a majority in the new House of Commons. Many of our MPs were urging the same thing.

By late Monday evening, when we held a joint meeting with our MPs, Gordon Brown had resigned as Prime Minister. And our team had met with the Labour team only to find, with dismay, that they seemed unable or unwilling to negotiate seriously.

Further talks the next day collapsed after so many senior Labour MPs went on TV to denounce the whole idea of a Lib-Lab agreement. Meanwhile, the Tories offered more concessions including a referendum on a change to the voting system, and the deal was agreed.

It was signed and sealed late on Tuesday when a joint meeting of over 100 MPs, peers and members of our Federal Executive voted to accept it, with only one vote against.

To be honest, we were astonished by how much the Conservatives had given away. Of course it’s not a pure Liberal Democrat document, it’s a compromise, but it’s far, far better than the only practical alternative which was a minority Conservative government free to go to the country again in October.

I returned home for a couple of days briefing and consulting Liberal Democrats in Lancashire, on the phone and at feedback meetings. The mood is of astonishment, anxiety about what the future holds, but overall genuine support and admiration for Nick Clegg and his team – and a determination to make it work.

On Sunday, with a delegation from Pendle, I travelled to Birmingham for our Special Conference where the coalition agreement received the overwhelming endorsement of 1,500 leading party members.

An extraordinary and historic week. Now for the hard work.