I missed Nick Clegg's summer message. I'm slipping.
When I caught up with it yesterday, I realised that what I had missed was, rather surprisingly, genuinely important - as Guido acutely noted. (It is also, incidentally, toe curling. Clegg tries to copy Cameron's video style but he has either memorised his talk or is using an autocue. It makes him sound very odd.)
This is the second part of Clegg's reversal of Liberal Democrat strategy. Having moved the party to the right, he now announces that he intends to fight as a replacement Tory Party in Labour seats where the Tories are nowhere.
This is significant. When Clegg was elected it was generally interpreted as a problem for Cameron. I wasn't so sure. I felt that he could shift the balance of politics to the centre right.
There are, of course, a few problems with all this.
The first is whether anyone will actually notice. The second is whether it is sustainable - the Liberals are, in their gut, on the left.
But, right now, it represents a big move with potentially quite big consequences.