Saturday, 29 January 2011

Take your pick...thoughts on inflation from an ad man and a milkman


Today's Daily Telegraph includes an interview with Martin Sorrell, boss of advertising group, WPP that focuses on the discussions at the Davos World Economic Forum. And Sorrell's conclusion?

“I don’t want to see the Bank of England put up interest rates,” says Sir Martin. “What happened in the fourth quarter shows the perilous nature of making forecasts. But I can’t see the Bank raising rates with growth having slowed. I get the sneak feeling that the West wants a bit of inflation.” 

Contrast this with a very different view, from a very different businessman - Lewis, Cullingworth's milkman. First though you need to know that Lewis had imbibed a glass or two and also that the reported speech below is bowdlerised. Anyhow, here it is:

"It's all gone wrong - tits up, hasn't it" Says Lewis. In response to my request for clarity he continues, "the economy, the government. Everything has gone up, bread's like 50% more expensive and look at diesel. People can't afford stuff - come March there'll be a real mess. We've got to get prices down."

Much though I admire Martin Sorrell, I'm with Lewis on inflation. And we could start by cutting petrol duty and scrapping the VAT increase.


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