Sometimes what is unsaid at PMQs is the most important thing of all…

Well that was a bad PMQs for Ed Miliband – the second in a row. Perhaps he hasn’t gotten back into his stride after such a long period without the weekly Wednesday joust, but whatever it is, Miliband isn’t hitting his marks at PMQs. Meanwhile Cameron – who has been jousting with world leaders this week – seemed far more o top of his game than we’ve been used to seeing him lately.

Alas the problem for Miliband was that the question he led with was a self-made trap. Labour talking about bonuses and trying to score points on city culture is an incredibly difficult line for the Labour leader to tread. Both Balls and Miliband have apologised before for Labour’s failure on banking regulation – and Miliband was quick to remind Cameron today that he had was proposed less regulation still – but that hasn’t resonated with the public. Miliband and Balls probably need to say sorry again a few more times. And louder.

Because at the moment watching two parties to royally screwed up on banking and financial regulation over a period of decades try and score points off each other, without fully appreciating the scale and scope of the mistakes they made by letting the City run wild, is nauseating. And if its nauseating for me, I can only imagine how it felt for a neutral.

The most telling moment of PMQs this week wasn’t Miliband’s interaction with Cameron though (which produced plenty of heat, but all the light of a box of wet matches) but instead a question from Paul Farrelley. The Labour backbencher asked Cameron about secret Tory plans to hike interest rates on student loans for graduates. Such a policy would affect millions.

But the answer from Cameron?

Nothing.

Sometimes what is unsaid at these encounters, is the most important thing of all…