At the end of today, the Tory party will have had a terrible night – perhaps losing as many as 1,000 councillors in England, compared with a worst-case projection (by Tory peer Rob Hayward) of 800 defeats.
But that may not end up being the big news: it is not exactly a revelation that vast numbers of Tory supporters are incandescent that the Prime Minister has failed to deliver Brexit yet.
A majority of Tory MPs wanted Theresa May to resign before yesterday’s elections; they still want her out. Nothing has changed, as she would say.
Much more significant is that Labour too is losing seats. And even though the attrition is much less than for the Conservatives, Labour should not be losing any councillors against a floundering government mid-way through a parliamentary term and given that the comparator is a 2015 poll when (under Ed Miliband) it performed poorly.
What is not yet crystal clear is precisely why Labour is doing so badly.
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