There will, of course, be a last-minute rush to the shops for seasonal treats; there always is, even in the darkest of times. But this year’s will be restrained. Falling house prices and rising unemployment, once just topics for discussion by commentators, are now harsh realities across Britain. Interest-rate cuts that were meant to boost confidence have not been passed on in full. And the availability of unsecured credit (plastic) is shrivelling. Everywhere, it seems, the debt boom is over. Everywhere except in the Government.