When the Chancellor declares that it is important Prince Andrew ‘pays his way’, in reference to his living arrangements at Royal Lodge, it is difficult not to wince. For the saving at stake is, by any serious reckoning, paltry – about £367,000 a year in additional income to the Exchequer, by my calculations. Not nothing, certainly, but a rounding error in the nation’s accounts, and a curious fixation for a Minister of the Crown who has managed to turn a £20 billion fiscal gap into one nearer £50bn within a single season of ministerial arithmetic – a hole in the nation’s finances that grows every time she opens her mouth.

The above figures are not conjecture. On the most generous commercial view, Royal Lodge might yield a net £417,000 a year to the Crown Estate if rented on the open market

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