At least Labour has got the first thing right – not trying to talk up the result. And these results should persuade MPs that they can not afford the indulgence of a headless chicken tailspin.

Everybody knows there will be no change of leadership. Nobody serious wants to reopen the question, and the party’s big hitters will make that clear. The political challenge which Labour faces arises from the accumulated grievances of having been in power for eleven years, exacerbated by an economic downturn. None of that would change with a different personality in charge.

So what needs to change?

In this week's New Statesman, I argue that all minority shortlists would be a step backwards.

An alternative approach would seek to tackle barriers which candidates face across class, race and gender. Please share ideas about what that might mean in practice.

The Prime Minister is committed to an inquiry " to learn all possible lessons from the military action in Iraq and its aftermath". The commitment came in a reply to my letter, to him, arguing that the 5th anniversary of the war would be the appropriate time to announce an inquiry, Gordon Brown wrote that "there will come a time when it is appropriate to hold an inquiry" however he also states his view "that time is not now".

Michael Portillo's column in the Sunday Times reflects on why the Conservatives have not opened up a significant lead in the opinion polls: the opposition's performance on Northern Rock exposes doubts about whether they are ready to govern.

After Peter Hain's resignation, the NEC is likely to consider spending caps in internal elections. But there is no need at all for significant sums of money to be raised or spent in Labour party elections. I suggest a £500 cap on any donations, and the very lowest overall spending limits that are practicable. We would have better election contests and money saved could be spent on real politics.

David Cameron wanted to be Barack Obama last week. But is he really Mitt Romney?

It is far too early to write Hillary Clinton off. Today, she is probably still the favourite and frontrunner for the nomination. But she may not be after New Hampshire. Taking the theme of 'change' from Obama will be difficult.

In 2006, Gordon Brown asked the Fabian New Year Conference: "What is the British equivalent of the US fourth of July, or even the French 14th of July? ... What is our equivalent for a national celebration of who we are and what we stand for?" He said he had in mind giving the country a new public holiday. 2008 should be the year to make it happen, And why not choose the birthday of the NHS to celebrate this great symbol of our shared values?

The terrible news of Benazir Bhutto's assassination also marks a failure of US and western polcy towards Pakistan. The UK government should place the emphasis on backing the building of democratic institutions, not individuals whose commitment is questionable.

The Independent reports that the government has "backtracked over demands for an independent inquiry into the mistakes made in the run-up to and aftermath of the invasion of Iraq", based on David Miliband's interview in the new year Fabian Review.

This is my editorial in the new year issue of the Fabian Review, which The Observer reports this morning, on how Gordon Brown should fight back in 2008. Fabian Review is published 3rd January 2008 and is a 'World After Bush' special issue. Join the Fabians to get a copy.

This must surely be a no-brainer for a leader whose primary purpose is to show his party has changed. But Cameron must deepen his change project to rebut the charge that he is simply the pretty face for a party where too many have not changed their ugly views on race.

A new Fabian paper 'The Vision Thing' by Sunder Katwala argues that Labour will need a different campaign next time from those that have won the last three elections - and sets 'five tests' for a progressive manifesto - setting out policy proposals on inequality, democracy, the environment, civil liberties and foreign policy. What do you think should be the key issues for a progressive Labour manifesto and campaign?

Some in the Conservative Party would want to reject Cameronism and lurch right. But how many times can they try that. The only sensible response would be to deepen the Cameron project, not abandon it. And this matters to the centre-left, because political change is embedded if you convert your opponents and shift the centre-ground of politics. http://www.opendemocracy.net/ourkingdom/articles/future-of-conservatism

Commentary for OpenDemocracy, on the challenges left thinking must address in the next decade.

Cabinet rising star Andy Burnham tells the Fabian fringe that Labour should revisit its statement of aims and values, so that an inspiring mission underpins Labour's agenda for the next decade. Should Labour have a new Clause four debate? What would you put in a new Clause Four, or should we stick with the one we've got?

Douglas Alexander says that a 'long weekend' Labour conference would allow more working people to take part at the Fabian fringe. Should we do next year's conference differently?

The deputy race looks wide open after the first hustings debate between the six candidates, now all on the ballot. Hazel Blears topped the Newsnight straw poll after the event. Full transcript http://fabians.org.uk/events/hustings-07/

The full transcript of last night’s Fabian hustings event, with Gordon Brown, John McDonnell and Michael Meacher, can now be read on the Fabian website.

Whether you attended last night, saw or heard the debate on the TV or radio,  or have read the transcript, let us know what you thought?

Tony Blair's legacy is a more social democratic Britain than the government has often admitted. But Iraq means that he leaves British foreign policy in flux as rarely before. How will Gordon Brown respond?