The Budget today could politely be described as a ‘holding operation’ until the general election is over. Only then will the consequences of the financial bailout of the insolvent banks and financial institutions start to unwind in the public sphere. Whoever leads the government, it will be messy.

A nod to Chancellor Alastair Darling who is likely to be standing up for the last time, his hair and eyebrows are holding up remarkably well bearing in mind the events of the past three years.