This might not exactly be a golden age for Scotland’s fourth largest party, but there are worse fates right now than being a Liberal Democrat.

LibDems have several reasons to be cheerful, all of which must make the Scottish Labour Party sick with envy. They have, like Labour, a leadership contest pending but, unlike Labour, they also have a clear and obvious contender for the job.

Tavish Scott, the LibDem finance spokesman, is leadership material, a fact which has been recognised by most of the important people in the party, in Scotland and London.

He is head and shoulders, literally, above the competition, Ross Finnie and Mike Rumbles. He has, astonishingly for a LibDem MSP, a recognisable public profile, and, as he says himself, he could “give people a really positive reason to vote Liberal Democrat”.

Sir Menzies Campbell, the former party leader, said Scott had commitment, vigour, youth, and experience, and there even has been talk of dream tickets, with Scott in Scotland and the equally youthful and vigorous Nick Clegg in London.

Contrast this outbreak of harmony with the internecine squabbling of the Labour Party, none of whose big beasts in Westminster would dream of endorsing either one of their three contenders for the Scottish leadership lest they start a scrap.

Beside Labour, the LibDems look civilised and mature, a grown up political party for consenting adults.

They are also, unlike Labour, truly devolved. Run on federal lines, the Scottish LibDems are an autonomous group within the mother party, empowered to make their own decisions and not beholden to some centralised machine that dictates policy in Scotland from London.

While schismatic Labour MSPs and MPs trade barbs, LibDems in the northern and southern parliaments happily coexist. They even communicate with each other — “We will work with our Westminster colleagues”, says Scott without choking.

The deputy, and now acting, leader of Scotland’s party is Michael Moore, a Westminster MP. Imagine David Cairns, say, or Tom Harris, being acting head of Labour’s Holyrood lot while they slugged it out over the leadership.

Also in the LibDems’ favour as they re-order their hierarchy is the fact that their retiring leader departs on a relatively high note. Nicol Stephen, who is stepping down to spend more time with his family, is considered to have performed well in opposition. He has been surprisingly nimble against Alex Salmond and landed many more blows on the nationalist’s thick hide than anyone else on the opposition benches.

Unlike Labour’s Wendy Alexander, there is no taint of defeat, no dodgy donations scandal or doubts over his ability.