Surplus To Requirements

Never mind the Prime Minister, or the Leader of the Opposition. When is the Chancellor of the Exchequer going to resign?

Following the abandonment of the illiterate proposal to run a budget surplus as an end in itself, the Government now has no economic policy whatever.

Imagine if John McDonnell had said that he intended to tax more than he spent, and that in perpetuity.

But remember, the policy that has today been abandoned is supported by every Labour MP who voted to express no confidence in Jeremy Corbyn.

Indeed, not that anyone could have been expected to have noticed, it was in fact the policy of the Labour Party in the twilight period between last year's General Election and the election of Corbyn as Labour Leader.

If Corbyn's enemies had their way, then it would be the policy of the Labour Party again. Even though it had been abandoned by the Government.