Labour’s disaster was expected, the failure of the LibDems to make significant progress is a bit of a surprise, it will be a cause of great satisfaction in CCHQ and for the Cameroonies. It will be a great cause of excuse making in Cowley Street. The truth is the LibDems have got a lemon for a leader.

After their best result for a quarter century, the Tories are now favourite at the bookies to be the biggest party at the general election, but such are the quirks of the electoral system it will probably still require the support of the LibDems to form a government. Ideally from the Tory perspective the LibDems limp to the election, undermining the electoral support of Labour oop North and in Scotland. Then an Orange booker takes over the LibDems and sits in a Tory cabinet.

Of course Cameron could lead the greatest revival of a political party in modern history and form a True Blue government, but Guido isn’t betting on it.