Tes columnist and Association of Colleges chief executive David Hughes dusted off his time machine this week to travel back through the history of FE funding. His “historical flirtation” saw him tease out three conclusions:

* Memories are very short. Optimism in the late 1990s led to greater focus and investment in colleges in the 2000s, much of which has been undone in the austerity years since 2008.

* There is always a frustrating delay between political realisation of the need to invest in colleges and the money starting to flow. A major 1998 Green Paper’s promise of a greater post-16 focus only materialised in the early 2000s.

* The most important lesson from history, though, is that colleges are the natural and proper places for greater investment following tough times. They were 20 years ago, and they are now.

The Treasury may not like this last message, Hughes argues, but investing in people is what is always needed after “tough times”. Proper investment in lifelong learning is now viewed as common sense across the political spectrum and throughout education, society and business. A people’s Budget would surely recognise that. It’s just a shame Philip Hammond missed the memo.