It was her first big announcement and was designed to show financial markets that she was willing to play hardball with the UK finances, no matter what the political cost.

Treasury calculations suggested that she would save the nation £1.4billion a year. Which sounds a lot but is nothing compared to the sums she has subsequently squandered by her inept handling of the economy.

If she’d made a better fist of things, she’d have been able to retain the Winter Fuel Payment without breaking…