The parallels between the three British political leaders preparing for the last of their intriguing general-election debates and our own party leaders are so strong, albeit on a superficial level, that comparisons are inevitable.

There's Gordon Brown and Brian Cowen, both dogged policy wonks who can't communicate, both ministers for finance whose failure to regulate the financial sector and the banks have left their reputations as prudent housekeepers of nations in tatters.

There's Enda Kenny and David Cameron, both leading contenders for the premiership, both smooth operators who lead the main opposition parties, both long enough in the game to recognise a good soundbite – but both sharing a tendency to use it too often.

And then there are Eamon Gilmore and Nick Clegg, the fresh, articulate and utterly focused new faces who have actually been around for years, but who have been sidelined in terms of access to television airtime because of the dominance of the two big parties.

The decision to include Nick Clegg and make this series of three debates a three-way discussion has literally been a game-changer.

A brilliant first-week performance, followed by a second debate in which Clegg reinforced his own assured personality and revealed policies that are an alternative to the past, have electrified the British election campaign. His impact has left the Conservative party and its powerful backers in a quandary.

Before the debates, they thought David Cameron was a shoo-in for prime minister. Now, they fear a hung parliament and coalition – anathema to the British political DNA – are a very real possibility. Politics may never be the same again in Britain and the fate of the entire political system, as well as the future of the traditional parties, could well be decided by these weekly encounters.

No wonder Eamon Gilmore has signalled he wants inclusion in the leaders' debate that has been the hallmark of our elections.

And he is right to insist he is included next time round. Given the parlous state of Fianna Fáil in the opinion polls and Brian Cowen's unpopularity as leader, few people give Fianna Fáil much of a chance of returning to power.

There is every chance that Fine Gael will lead the next government, but despite its resurgence, it is unlikely to be able to do it on its own and its most likely partner is Labour, whose leader remains the most popular of them all.

The British debates have been a success for many reasons, and not all to do with the narrow interests of the political parties. The debates have been important for democracy itself. They have re-energised interest in politics, a good thing after the way politics in Britain – and here to a lesser extent – has been tainted by the expenses scandals. Since Clegg's assured display, young people have been registering in droves to vote for the first time.

All three participants have displayed a seriousness that's often missed in the everyday cut and thrust of in-house point-scoring. And the ruthlessness of HD-live TV has meant there is no hiding place: the well-rehearsed quips look fake; the repeated mantras and sloganeering sound hollow; the chances of landing a lethal blow are remote because each party leader is so on top of his game; but surprisingly, sincerity, seriousness and honour manage to shine through.

A debate over our next general election leaders' debate has to take place. RTÉ, TV3 and TG4 need to get involved and assert their role as the fourth estate in our democracy. They need to argue on behalf of the public about how these clashes should be staged and what format they take. This isn't just a platform for party leaders. As we have seen in Britain, these debates are proving to be a modern-day democratic girder that's as important as the pamphlets and soapboxes of the 19th century.

An Irish leadership debating series of the quality we've been witnessing in Britain would be a fantastic catalyst for public engagement with politics itself.