Something odd is happening. We’re starting to feel sorry for Alistair Darling. True, his ability to take the flak for his boss’s cock-ups is matched only by his own ability to shoot out policy decisions and ask questions later – but he has already had an entire career’s worth of problems.

His first crisis was the queues outside Northern Rock as the tripartite bank regulatory regime created by his predecessor was found wanting. Then there was the embarrassing loss of personal data of around 25 million taxpayers. Then, after months of “dithering”, he decided it was time to nationalise Northern Rock.

You’ll recall the howls of outrage at the near-doubling of capital gains tax for long-term investors and entrepreneurs (coupled with a slashing of CGT for short-term punters and speculators). Or the theft of Tory policy on ultra-high net worth non-doms, followed by a reversal of some of the more onerous compliance rules. And as companies queue up to escape the UK’s proposals for “simplified” taxation of foreign income, Darling suddenly realises it’s time to listen to the business world. Finally, his acquiescence, then fudging, then capitulation over the 10p tax band was an excruciating episode.

Now the poor man has to put up with Gordon Brown saying, “I think I can steer this economy through difficult times. I have done it before and I can do it again.” Darling must be desperately sorry that Tony Blair didn’t make Gordon wait another 12 months to become PM.

Apologies to readers whose copy of the June Issue was missing the last line of this 'Extraordinary item' owing to a typesetting cock-up!