Who said short-termism was a bad thing? Not when it comes to Whitehall job contracts. The rule now for top officials seems to be that the shorter your contract, the bigger your bonus – eye-wateringly big in the case of the top man at the Government Olympic Executive.

Word is that Jeremy Beeton, who came last year from Bechtel, the US construction giant, to take up the £220,000-a-year Olympic post, is being paid a bonus of almost 100 per cent – the best part of £200,000. (Taxpayers, if you have wallets prepare to open them.)