Nevertheless, Sir Mervyn was no doubt on to something with his 'Beatlesonomics' analysis. Clearly George Osborne is hoping that the economy will pick up after its Magical Mystery Tour and that he won't have to say I'm a Loser or indeed that he's a No Where Man at the next election.

The government still claims that In Spite of All the Danger it is Fixing a Hole in the public finances and that things are Getting Better as they look to make savings on Every Little Thing, Here There and Everywhere.

Having Come Together in coalition, the government tells us that we're All Together Now in trying to fix the economy, although the cut in the 50p top tax rate in the last budget clearly undermined perceptions of that claim to a degree.

Still, at the Autumn Statement we were asked to Wait for an extra year (of austerity) and that We Can Work it Out. Yet tax receipts have been less than Mr Osborne expected owing to little or no growth and the Taxman in chief can be heard humming Money (That's What I Want).

But there is little sign yet of that Taste of Honey of rapid growth in the near future, and the Autumn Statement confirmed that there would be more austerity Misery for a Long, Long, Long time. Meanwhile, The Bank of England's Monetary Policy Committee decided to Let it Be on further Quantitative Easing for now at least at its last meeting - although there may be more Any Time at All.

Of course, the opposition say Slow Down the cuts and that the economy shouldn't have to Carry That Weight of overly-rapid fiscal retrenchment. They stress that they said this at the outset and Ed Balls tells George Osborne to reflect on the words I should have Known Better. Osborne replies by saying that Balls has forgotten Gordon Brown's long lost friend, Dear Prudence, just as he'd said to the previous Chancellor Oh! Darling you got it wrong.

Meanwhile business leaders say I Don't Want to Spoil the Party but tell the government that they're Crying, Waiting, Hoping for growth and say to the government Don't Let Me Down. Others in the business community - especially small firms looking for bank loans - simply say Help!

All I know is that I won't be getting my pension When I'm Sixty-Four (That'll Be the Day) and will probably have to work Eight Days a Week until much later in life - possibly until The End.

After posting this blog Professor David Bailey will Get Back to work at Coventry University Business School