Is Nick Clegg forgetting something?

Today at the Press Gallery lunch, Nick Clegg attacked Ed Balls’ suggestion from this morning that the government should introduce a temporary VAT cut, calling it “a whopping great big multibillion-pound unfunded tax cut.”

Thank goodness this video isn’t still doing the rounds, eh?

Why does Nick Clegg now favour the bombshell so much that he doesn;t want to see it reversed, even temporarily?