The great losers of the heightened political battle over the past month have been the Liberal Democrats, whose poll ratings have plunged as those of the Conservative Party have soared. The party and its leader, Sir Menzies Campbell, have seemed somehow insignificant as the charismatic megafauna that are Gordon Brown and David Cameron collided and the country was led to the very edge of an election before a vacillating prime minister thought better of going to the people.

There is no doubt that many Conservative voters have sought refuge with the Liberal Democrats in recent years, being unable to cast a vote for Labour and yet disillusioned by the self-destructive tendencies of their traditional party. Sir Menzies deserved a chance to lead his party and his political instincts were as correct as those of any potential Liberal Democrat leader. Yet fractious contenders have been unable or unwilling to give him an opportunity to consolidate his leadership and he was forced yesterday to bring a short reign to an unfortunate end.

Two candidates stand poised to contest the title, Chris Huhne and Nick Clegg. If the mediocre Mr Huhne is anointed, his party is doomed to insignificance, while the clearly more capable Mr Clegg seems to understand that a combination of market economics and social conscience will have popular appeal. There is a theory that if the Lib Dems are resurgent, Mr Cameron’s rise will be halted. It is true that the Conservatives have prospered from Lib Dem failings, but it is also certain that if they win office it will be because Labour has gifted them power.