Even now, Sunak and the Tories cannot let austerity go

This government is faced with a collapse in real incomes, spending, and its own popularity. But still it will not act

We have passed the Ides of March, and Boris Johnson is still in office. Until the start of Putin's invasion of Ukraine, the conventional wisdom held that the skids were under the prime minister: his nine political lives were almost exhausted and he was seriously threatened by the none-too-subtle manoeuvres of his neighbour, Chancellor Sunak.

Then Putin emerged as an unlikely deus ex machina and the conventional wisdom became that Johnson was once more safe. Folklore tells us it is an ill wind that blows nobody any good: this truly terrible carnage in Ukraine has prompted certain observers to say this is Johnson's Falklands".