What is it in the politician’s DNA which leads them to over-promise so often on so many fronts?

The most cynical answer, of course, is that ministers usually get a sweep of positive headlines when announcing big, shiny new schemes – and much less publicity when those schemes turn out to be not quite so game-changing as expected.

At the back end of 2009 I did a thorough examination of Labour’s many recession-busting initiatives for the FT newspaper. Of the 16, some had been a success, many were faltering and a few were utter failures.