A vote is held at the end of the banking debate, which results in the adoption of a policy motion promoting a more diverse financial system. The chair announces a short break ahead of the environment Q&A, due to begin at 11.30 BST.

Andrew Sparrow, Guardian's Politics blog

@AndrewSparrowtweets:, external 10 things we've learnt from the Lib Dem conference, external #ldconf

Speaking in the banking debate, Andrew Brown, a delegate from Bristol, urges support for an amendment which encourages the government to continue to support crowd-funding and peer-to-peer lending, arguing that the latter should be at the centre of a reformed financial sector. "Let's challenge the monolithic banking model that has been proven to be so deficient, and let us encourage small specialist banks, regional banks, mutual institutions and alternative financing structures," he appeals.

Matt Chorley, Political Editor, MailOnline

@MattChorleytweets:, external Clegg's speech will have no new policy announcements. But will 'take the fight' to Miliband and Cameron in strong terms, apparently #ldconf

Alisdair C McGregor, Lib Dem Parliamentary Candidate

@A_C_McGregor tweets:, external About to speak on mutualism & banking #ldconf

The traditional Lib Dem conference sing-along took place at the Glee Club last night, and it's fair to say not all the songs were entirely complimentary towards the other parties. This photo was tweeted , externalby BBC South's Peter Henley.

Image source, Twitter

Activists now turn their attention to a debate on the banking system, which is being led by Redcar MP Ian Swales, who co-chairs the party's parliamentary committee on the Treasury. The motion being considered develops Lib Dem policy on promoting a more diverse banking system, with a focus on community banking and finance.

The conference votes to adopt a policy paper calling for a fully federal system of government across the UK. It proposes a parliamentary bill to allow "devolution on demand" in England, and for a constitutional convention, with a citizens' jury at its core, to produce a new written constitution for a federal UK. The motion also calls for a £10,000 annual cap on donations to political parties, and for the proportional electoral system known as STV to be used at every level of election.

Frank Bruno, Boxer

@frankbrunoboxertweets:, external Glad mental health is making news this morning for the correct reasons #Timeforchange, #mindcharity

Norman Smith
BBC Assistant Political Editor

The pledge on mental health will be the "big announcement" of Nick Clegg's conference address. The rest will focus on what aides called "vision and values" rather than detail.

Tim Reid, BBC Political Correspondent

@TimReidBBCtweets:, external Cllr Robert Brown says Sturgeon must rule out another indyref for 10 years after "bruising, divisive, worrying" campaign #ldconf

Nick Clegg will use his speech to call for "devolution on demand" for parts of the UK, the Western Morning News reports, external. The deputy prime minister told the paper: "It really is the missing bit of the constitutional jigsaw. What I am working up at the moment is ideas on how we can enshrine in law a statutory right for local areas - whether it is the North West, the North East, the South West - to demand new powers from Whitehall."

Scottish Liberal Democrats

@scotlibdemstweets:, external .@willie_rennie says mental health must be a major priority for Scotland , external #ldconf

In the debate on UK federalism, Bristol delegate Dr Cripsin Allard questions whether England's local authorities are in a fit state to take on greater powers. He notes that more than 100 English local authorities lack the "checks and balances" of an effective opposition, citing Labour "dominance" in Manchester. He blames this on the first-past-the-post electoral system, and says it should be a key manifesto priority to introduce a proportional electoral system for local government, known as Single Transferrable Vote.

The policy motion currently being debated celebrates Scotland's decision to remain in the UK, and advocates a move to a "fully federal" UK. It also endorses votes for 16 and 17 year olds in all future elections.

Sam Macrory, Editor of Total Politics

@sammacrorytweets:, external Awful rumour from one Lib Dem MP: Clegg's speech could be up to 90 minutes long. But Clegg team promising an hour max #ldconf

Referring to Scotland, Mr Carmichael says the outgoing SNP leader and First Minister Alex Salmond has presided over "the most centralised government" in western Europe, and that the party must accept the need to cede more powers to local communities. "Their centralisation has failed and the way ahead for the future is empowerment for local communities," he adds.

Alistair Carmichael tells activists that further devolution of powers to Scotland will "unlock the progress to federalism across the whole of the United Kingdom". He reiterates that the Lib Dems will only allow progress on Conservative plans for English votes for English laws if it is based on a system of proportional representation, as has been the case for other parts of the UK, he argues.

Tim Reid, BBC Political Correspondent

@TimReidBBCtweets:, external Lib Dems may want major constitutional reform..but not on final day of conf at 9.40am. Carmichael speaking to sparsely populated hall