Nick Clegg’s strategy to boost social mobility targets unpaid internships, a nice illustration of the incongruities that can arise in coalition government. As recently as February, his Tory partners were busy auctioning internships in City banks and hedge funds at a £400-a-head fundraiser.

Clegg doubtless reasons that one does what one can. And his central premise is unarguable, particularly with regard to the professions: ‘For too long, internships have been the almost exclusive preserve of the sharp-elbowed and the well-connected [and]... can rig the market.’

Unimprovably put. And lest we be accused of political bias, it behoves us to recall the internship landed by one Euan Blair in the US House of Representatives. Ancient history undergraduates at Bristol University are rarely given a leg-up like that.

It is welcome then that magic circle firm Allen & Overy is among many high-profile businesses to agree to offer placements and pay the minimum wage or ‘reasonable out-of-pocket expenses’ for any work done in their offices.

All law firms should do the same – and especially the City giants.

However, there’s an elephant in the room here which it would be perverse to ignore.

In the context of the massive debts which poorer students must now accrue just to get an undergraduate degree, the deputy prime minister should not be surprised if his grand strategy meets with a distinctly lukewarm reception.