Now change finally begins

Even after the exit polls had predicted, correctly, a hung Parliament, the Tory leader was still confident that his party would secure an overall majority so it could immediately deliver the change, and renewal, that Britain so needs.

He was to be denied this. And when he made his "big, open and comprehensive" offer to the Liberal Democrats to establish a new deal for the country, including seismic concessions on electoral reform, he had no reason to believe that Nick Clegg's party would court a defeated, and rejected, Labour Government so assiduously – even though these overtures precipitated Gordon Brown's resignation.

Mr Brown's farewell last night, even before the Tories and Lib Dems had reached a final political settlement, was deeply humble and personal.

It was also indicative of a man whose dedication to serve was only eclipsed by his pride in his young family, but who, as a leader, was clearly ill at ease with the trappings of office. His devotion to his wife and young sons was as palpable as his admiration for the Armed Forces who served with distinction under his leadership.

Yet, after another tumultuous day, the public interest finally prevailed and Mr Cameron, as leader of the party that won the most seats and most votes, was finally becoming PM and forming a government.

The precise terms of the Conservatives' pact with the Liberal Democrats were still unclear, given the fast-paced nature of yesterday's handover of power once Labour conceded defeat in its desperate quest to build its own progressive alliance.

Away from Downing Street, however there was an overwhelming sense of relief that New Labour's reign had ended, given its fiscal irresponsibility.

It would also have been intolerable if Labour had circumvented the electorate's verdict and been able to elect a second successive Prime Minister without a public mandate.

It was also mistaken of the Liberal Democrats – a party which has promised a clean break from the "old politics" – to believe they could have sold this set-up to an incredulous nation. Thankfully, they saw sense once they realised the scale of division within Labour's defeated ranks.

Yet, while one can understand the party's cherished desire for

electoral reform, the at times farcical nature of these talks may have caused serious damage to the lasting reputations of both the Liberal Democrats and Mr Clegg.

Having promised to put the national interest first, and repeatedly claimed that the only "kingmakers" were the British electorate, the Lib Dems two-timed the Tories by entering into secret talks with Labour. They tested the public's patience to breaking point when it was abundantly clear that Mr Cameron was the only person who could form a government.

As such, one of the first decisions facing the new Prime Minister will have to be a judgment on the extent to which he will be able to trust the Liberal Democrats – and how much power they will be afforded – following the animosity and turbulence of the past 36 hours.

This is fundamental. Having, in many respects, proven his statesmanlike credentials in recent days, Mr Cameron needs to be able to put in place a government that can begin cutting the national debt – the legacy bequeathed by Mr Brown.

It is also important, given the economic backdrop, that the precise arrangements of the final coalition deal are placed in the public domain so the new government has the best chance of enduring the test of time.

One reason New Labour eventually unravelled is because no one knew the details of the infamous deal struck between Tony Blair and Mr Brown in a London restaurant in 1994. The uncertainty was allowed to become destabilising and politically poisonous.

Then, the future of one party was at stake.

Today, Britain's immediate future is on the line – one in which the country must overcome a record deficit, the fallout from the global financial crisis and achieve public sector reform.

It will require unprecedented levels of political co-operation and consensus as Mr Cameron and Mr Clegg, the Sheffield Hallam MP who will command a pivotal Cabinet role, come to terms with the monumental upheaval that has now taken place at Westminster.

Few incoming governments have faced such an invidious inheritance – and it has now fallen upon these two men to repay the faith placed in them by the electorate. We wish them well.