From the point of view of anti-socialist, freedom-loving voters, this is the third best possible outcome to the Labour leadership contest. It is the best one we could reasonably have hoped for.

The unions' choice has prevailed and Labour is now led by a dour, snooty, charmless man. Television viewers were immediately presented with gleeful (and off-putting) trade union leaders welcoming their man with hyperbole about opposing the "assassination" of public services.

Labour is moving leftwards under the control of its paymasters. Odd Ed will play badly with the Labour heartlands. He will play even worse in Middle England. The bookmakers immediately lengthened the odds on Labour to win the next election.

This is the best news in British politics for a long while. Like Mr Milliband himself, I would like to thank the members of the Labour Party for electing him.