Demanding the right to profit from promoting it while refusing to pay the costs is clearly indefensible.
Just as governments of the left develop institutions designed to embed their reforms and make them difficult to reverse, so should the right.
The approach towards a functional open finance ecosystem can be quicker, leaner and more agile than the EU’s.
The job now needs to be completed by shoring up workers’ incomes and firms’ revenues to as close to 100 per cent as is practical.
The Chancellor should make further provision for them. But the vast though necessary expansion of state spending will need emergency powers-type checks.
When selling these books the Treasury should make sure there are protections so that borrowers do not lose out.
Ultimately, the only way properly to determine the extent of both this and wider problems is through a full public inquiry.