But there are two problems with his latest wheeze.

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The clever wheeze that Mr Hunt had negotiated with James Murdoch of News Corporation was that News Corporation would spin off 61% of Sky News into a new independent company, which would have a new board of its own and would be funded by News Corporation for a decade.

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The Marbles' sound originated from Jimmy and Louise (Wheeze) writing and producing demo's with the other members of the band building up songs with their individual talents to create the layered electro-pop tracks MySpace users are currently enjoying.

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So Mr Moreno's latest wheeze involves responding to a vanishing current-account surplus with strict import controls, which will undermine growth.

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