As the first set-piece contest of 2014, the Year of the Referendum, all the party strategists are today trying to read the runes from Cowdenbeath in terms of September. So what does it mean for the individual parties?

LABOUR

This was an excellent result for Labour, no two ways about it. Getting more than 50% of the vote is a real morale boost, and a personal triumph for candidate Alex Rowley after the bitter disappointment of what happened in 2011 in neighbouring Dunfermline when they were so busy looking to win back the seat from the Liberal Democrats that they didn't see the SNP tidal wave coming.

In October 2013, Dunfermline was taken back with relative ease, but last night was much more comfortable. But if Labour is to stage a real comeback at Hoyrood it needs to demonstrate it can achieve this outwith its heartland.

This was a result fairly similar to 2007. What Labour needs is to get back to where it was in 2003. This was a step in the right direction.

SNP

There was never a point in this campaign when there was a sense that the SNP might run Labour close in this by-election. Coming within 1300 votes in a seat like this in 2011 was the real surprise.

The Nationalists are now showing the normal signs of a party of Government in mid-term but they must hope that their candidate, Natalie McGarry was right when she observed that Labour voters on doorstep had told here that, although they were remaining loyal to their party, they were still considering a Yes vote in September.

CONSERVATIVES

The Tories are well pleased today, increasing their share of the vote here by two points and the only party to actually increase numbers. More importantly, they were not sucked down into the contest with UKIP for the lower placings.

UKIP

They will be pleased at having beaten the Liberal Democrats into fifth place but there was still no real sign here of them gaining much traction north of the Border ahead of the European Elections. Saving a deposit in Scotland continues to elude them.

LIBERAL DEMOCRATS

This was a ghastly result for the LibDems. Their downward spiral continues, although this has never been a good seat for them.