Lord Mandelson, the brains behind the current full frontal assault on George Osborne, should remember that he has been sacked a few times before, and he can be sacked again.

The curious incident of the non-donation on the yacht is certainly damaging to the young Tory frontbencher, but the question of what the EU trade commissioner was doing with Russian oligarchs on vacation is obviously much more interesting than the 2IC from the British opposition party clamouring for donations, which is being denied but probably accurate.

I detect not just the actions of vengeance from the Dark Lord, but the activities of an utterly corrupt EU commissioner covering up the unpleasant company he keeps. More soon.