Britain’s political establishment is indeed its weakest link, with insufficient collective self-control to take decisions that are truly in the public interest. No wonder we are in such a mess. We should never forget that while capitalists and free markets are far from perfect, politicians and regulators tend to be much worse. Our self-interested and all too human political class is as far from the ideal of the Platonic Guardian as it is possible to imagine.

Allister Heath 'Expenses scandal latest blow for sterling' City AM.