If it wasn’t dealing with minor things like the entire economy and borrowing massive amounts of money that we’ll have to pay for later, this little reversal would be funny.

David Cameron has told Gordon Brown to “be straight with the British people” and admit his plans to borrow more will mean “higher taxes tomorrow”.

The Tory leader said the PM was planning a “borrowing bombshell which will soon become a tax bombshell”.

Mr Brown said the Tories were “out of touch” as there was a consensus across Europe in favour of a fiscal stimulus.

The government is expected to unveil tax cuts, funded by extra borrowing, in its pre-Budget report next week.

Gordon Brown and Labour considering tax cuts, and the Conservatives trying to saw no to it? That’s all very backwards, isn’t it?

However, I’m pleased to say that I have a nice simple solution that’ll keep both sides happy – so Gordon can have his tax cuts (hooray!), and we don’t need to borrow it. It’s really almost insultingly simple.

You cancel the ID Card programme – then you have £5.5 billion.

Then cancel ContactPoint – £225 million.

Then leave the EU – £6.5 billion.

That gets to be a handy total of £12.225 billion. Which would be enough for a permanent tax cut of a little. You get a small amount of stimulus and leave this little part of the world considerably better off…