Gordon Brown’s decision to step down from the leadership of the Labour party is the right decision at the right time, taken for all the right reasons.

The assessments, valedictories and criticisms of Gordon Brown’s time as prime minister are in the process of being written; in truth no accurate illustration can be provided until economic recovery is well and truly secured. However, my immediate judgement is that Brown’s record will be held in far greater esteem in years to come than the childishly spiteful bad losers of the Tory press would today allow an anxious nation to believe.

Nor will Brown’s detractors ever acknowledge that his tenure as chancellor was the most successful this country had known for decades – some economists claim centuries – and that his life in public service has been uncommonly successful.

Whilst others will make these assessments, it is now time for Labour members of parliament and for every member of the Labour party to now train their attention upon who should lead our party. The field has yet to emerge, but is rumoured to include both David and Ed Miliband, Ed Balls, Andy Burnham and more. All have quality, all have ability and all must surely want a vigorous and expansive leadership contest. (In the years to come, Gordon Brown will surely regret the absence of a leadership contest before becoming leader. The lack of any such contest became an unintentional millstone around his – and the government’s – neck.)

Both Gordon Brown and Tony Blair are giants of the Labour movement. Their legacies are profound and will be lasting – but a new generation of Labour thinkers must now take the baton from the progenitors of new Labour and forge a new social democratic compact for our times. Above all else, for Labour to reform and repair, it is essential that the divisions associated with Brown and Blair are now exorcised from the party. Labour must move on with both speed and haste.

No sweetheart deals. No coronations. No backroom arrangements. We should lift every stone, have every argument and demonstrate both our ability and our ambition. This election has again shown that this is an overwhelmingly progressive country which needs and wants progressive government. That this reality has not delivered a Labour government is the chief conundrum that the party must now answer.

And at the end? At the end – in my view – the leader of the Labour party will be called Miliband…