Even the usually dry FT is taking the piss. But lest you wonder why, see here, here and here. Putting Lord Drayson in charge of defence procurement is astounding. Or, on second thoughts, perhaps genius. The arms industry is notoriously corrupt, even the biggest defence contractors do dodgy things, Boeing, Lockheed, BAe, Dassault – taxpayers funds, politicians, big orders for big corporations, lavish expense accounts – well with that cocktail you can guess what often happens.

Could it be a form of twisted Blairite genius – a case of turning a poacher into a gamekeeper?

Incidental old joke: Q. What’s pink and hard in the morning? A. The FT crossword.