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Labour leader Jeremy Corbyn has won unlikely support for a key economic policy from a hedge fund boss. Paul Marshall, co-founder of London-based Marshall Wace, gave qualified backing for Mr Corbyn's advocacy of so-called "people's quantitative easing" to boost the economy by funding infrastructure projects. He said if used correctly it would "carry quite a lot of respectability". Mr Marshall's remarks in a Financial Times article were backed by Liberal Democrat former business secretary Sir Vince Cable.

Here is Labour's response to Tim Farron's speech, courtesy of shadow minister without portfolio Jonathan Ashworth:

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Lord Ashdown, who has been critical of Mr Farron in the past, says the leader put in a "formidable performance", saying it was "not actually a speech, it was a battle cry". For a debut effort, he says it was very impressive and Mr Farron has the capacity to be a "powerful orator", noting that he has been "growing very fast" in the past few months. The palpable good mood of the party, he suggests, is not "irrational" since the "external conditions" are very favourable, with Labour moving to the left and the Conservatives set to tear themselves apart over Europe.

No mention of hat eating this time though...

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Conservative MP Crispin Blunt suggests Germany is partly to blame for the current mess the European Union finds itself in over the refugee crisis, saying its decision to accept an almost unlimited number of asylum seekers and refugees has made it more "attractive" option for people to make the hazardous journey from Syria to Europe. 

Mr Blunt, who is chair of the Commons Foreign Affairs Committee, says the current situation throws into stark relief the problems facing the EU and the obvious need for a more "federal" approach to some of the continent's problems. As for the referendum on the UK's future within the EU, he suggests there is "no right answer" to that question but that the country must take the decision with its "eyes wide open" and in full awareness of what the consequences will be. 

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Tim Farron used his conference speech to appeal to other parties' supporters to join the Lib Dems. However, BBC political correspondent Ross Hawkins says:

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It's not been good news on the defections front for Tim Farron so far today. Earlier we heard from former Lib Dem leader Jennifer Churchill, who has defected to Labour, external. Cllr Churchill, who sits on Richmond Council in London, says Mr Farron's dismissal of Jeremy Corbyn's economic strategy was key to her decision, saying it sounds like Mr Farron is "parroting Tory propaganda".  

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Lib Dems will be "pretty happy" with Tim Farron's speech, BBC political editor Laura Kuenssberg thinks. The Lib Dems now need to recover "council seat by council seat", she says. There is, however, a word of caution on the section of the speech that got the best reception - on accepting more refugees.

Mister Smith: