Perhaps Alistair Darling’s next setpiece financial statement should be written in disappearing ink. Even before Wednesday’s decision to delay the planned increase in fuel duty, the chancellor of the Exchequer has spent much of the past months re-writing vital elements of past announcements. Practice has made the government more adept at executing climbdowns. But Wednesday’s move goes in the wrong direction.

The U-turn on raising fuel duty was at least a neater affair than some retreats. In March, Mr Darling said the 2p a litre increase in fuel tax from 50.35p a litre would not take effect in April as originally intended, but in October. Deferring it for a further six months will cost an estimated £550m.