RPI. OR CPI. BROWN'S DILEMMA.

We're not referring to resting in peace here, more to do with conning the punters about inflation. Six years ago the former Chancellor removed mortgage repayments from the instrument against which was calculated the inflation rate. This was known as the Retail Price Index. Brown's excuse was that we should be more aligned with Europe regarding the assessment of inflation. This is virtually impossible because, on the continent, fewer people purchase their own homes. By introducing the Consumer Price Index, we were supposed to feel much better off. It is inevitable that many people would be taken in by this sleight of hand.

We are, however, going to reach a point in the future when all the bargains become history and inflation will appear like an uncontrollable apparition. Should Brown still be around at this point he will want to reinstate mortgage repayments, as they will be in the doldrums for the unforseeable future.





WE HOPE HIS WRIGGLING DAYS ARE OVER