Guido enjoyed reading the speech Tony Blair made to the Communion and Liberation conference in sunny Rimini, where he warned that the “case against a purely individualistic or materialistic philosophy has to be made”. Tony spoke on a stopover after enjoying being a guest on the $150 million Rising Sun, a five-deck mega-yacht owned by American software billionaire Larry Ellison, anchored off the Sardinian coast.

So the news that Connaught Square properties are down some 20% since the Blairs paid £3.5 million for their mansion terrace, and another £1.5 million for the house behind, won’t worry the materialism rejecting Tony.

He’ll just do another half-a-million quid speech and take another million quid investment bank directorship…