For a party so badly scorched by its experience of power, and with only a fifth of the seats it held three years ago, the Liberal Democrats had some cause for optimism as they gathered in Bournemouth this week. In Vince Cable they have a new yet experienced and well-respected leader. The vote for Brexit gave them a renewed sense of purpose and encouraged a surge in members, taking their numbers to over 100,000. Despite their poor showing in this year’s general election, they boast a markedly stronger parliamentary team, including Sir Vince, his deputy Jo Swinson and newcomer Layla Moran.

The leader highlighted their two opportunities in his speech on Tuesday. Labour’s divisions over the EU created the Liberal Democrats’ opportunity with remainers; but the more recent evolution of its policy gives them hope that a hard Brexit can be avoided if “political adults” work together. Though Sir Vince has pledged that his party will not be “Ukip in reverse”, he hopes its pro-European stance will place it on the right side of history, as opposition to the Iraq war did.

Secondly, the party believes that the radicalism of left and right have left a space which it can capitalise upon when enthusiasm for Jeremy Corbyn fades: “What hope cannot do is make 2+2=7,” Sir Vince warned. But it will take more than an offer of “hope and realism” to detoxify his party for those who remember the compromises of coalition. Reclaiming the party’s record in government, as he sought to do, will not be easy – one reason his predecessor Tim Farron did not try. The Lib Dems understand they cannot make the political weather: instead, they are holding their nerve and hoping the clouds will soon part. Sir Vince made the obligatory declaration that the time for waiting is over. But he acknowledged that his long career within and without politics has taught him the importance of endurance. He will need it.