“Dear, oh dear.” Seldom has a monarch voiced the sentiments of the nation more accurately than King Charles III, receiving Liz Truss in audience this week. So parlous has the state of British governance become that it is impossible to find even an approximate precedent. Black Wednesday, 30 years ago, looks like a hiccup, compared to the fiscal and political anarchy that now grips the United Kingdom.

Kwasi Kwarteng, with Etonian stoicism, has fallen on his sword, sacrificed to save the Truss government. Whether his departure will be sufficient to keep Liz Truss in office remains to be seen. It seems unlikely. Things are moving fast.