Remember when Theresa May was a loser?
She screwed up by calling an early general election, and then led a terrible campaign.
As a result, Labour ended its civil war and rallied round its leader - while the Tories lost their majority in the House of Commons.
What a blunder! It’s no wonder some Conservatives were calling for her to go.
But times have changed. Somehow, Mrs May’s stock has risen. There’s even talk about her leading the party into the next general election, which may not be until 2022.
It’s partly because Brexit seems to be going well. The EU has agreed, at last, to talk about a trade deal and it’s becoming easier to imagine the UK leaving in March 2019 without everything descending into chaos.
Mrs May also handled the nerve agent attack in Salisbury well, and created an international coalition of countries taking action against Russia, which is believed to be behind the incident.
There’s another reason why Conservatives are feeling happier.
The 2017 general election result suggested it was possible that, at some point, Labour could win power - and make Jeremy Corbyn Prime Minister.
Some Tory MPs felt their party needed to act to ensure this could never happen. They argued that repairing their party was a long and difficult task, and it couldn’t even begin until there was a new leader.
Therefore, they argued, the Conservatives should install a new leader as soon as possible.
However, fear of Mr Corbyn has reduced. There’s a sense that some of the shine has rubbed off him.
Even before the huge row over anti-Semitism gripped Labour last week, some Conservatives were wondering whether the nation had reached “peak Corbyn”, meaning his popularity would only decline from here.
They should beware of becoming overconfident.
It’s easy to forget what a poor state Labour was in before the last election - divided and angry.
That didn’t stop the party doing much better than expected when voters went to the polls.
But there is one ray of hope for the Conservatives.
It seems the party has finally realised that the nation is sick of austerity, and wants a little cheer and optimism instead.
Theresa May’s announcement that the Government wants to find a long-term solution to the NHS funding problem is one sign of that.
The Government’s U-turn over scrapping housing benefit for people aged 18 to 21 is another. All credit to Labour MPs who campaigned for this.
Mrs May seems to realise austerity’s time is over. If she sticks to her guns on that front, and delivers a successful Brexit too, then Conservatives may be justified in feeling hopeful about their future.