Little wonder that Alistair Darling is quaffing drinks a little stiffer than usual. The economic storm is worsening, with borrowing now reaching levels not seen since 1946.

Times are tough. And political cowards could jack it all in, give the keys to No. 10 to the Tories, and laugh when they inherit such a mess...

...but this is a time for (Brownian?) courage, the leadership we were promised.

Government borrowing cannot be sustained at this level. Costs must be cut, axes must fall. Courage must come first. The leadership we expected from the start is missing, has been undone by short-term aims without long-term vision. If the predictions are correct, the economic storm will break just as borrowing increases as the "golden rules" on fiscal prudence (remember that?) are re-written. Dominos falling onto a house of cards...