Welcome as Ron's statement was that he wasn't now looking for 80million,
Inflation figures out today will show the annual rate for July spiralling to more than twice the Government's target. Estimates have put the Consumer Prices Index (CPI) - the official measure of inflation - at 4.2% for the year to July, up from 3.8% in June and a new series record.
The increases will reduce the chance of an imminent interest rate cut for hard-pressed homeowners, with policymakers at the Bank of England expected to wait for more evidence of inflation peaking before easing the burden.
Crude oil topped an all-time high of 147 US dollars a barrel in the second week of July before retreating by about 25% over the following month. Oil's relentless price rise, as well as those of associated energy and food costs, have been the main driver for recent inflation growth, the CPI version of which has increased from 1.8% in September last year. The rise in the cost of living index is expected to approach the 5% mark later this year, with hefty double-digit hikes in gas and electricity bills from EDF and British Gas last month adding to the pressure.
It was reported on radio today that the effects of the credit crunch could last for another two years at least.
If the RBS group can make a loss! Oh happy days.
Of course Ron is not looking for a mortgage on a semi-detached or worried about the price of a steak in his local Tesco's, or maybe he is, but multiply what we are going through by a 1000 and you can get an idea of how tough it will be to raise funds whatever has been agreed in the past.
I've long accepted that my shareholders money has sunk into a black hole but is Ron being realistic that Kev will be playing his testimonial game at Fossetts Farm sometime in 2010?
If the worse did happen where would we go? Gillingham, Colchester, Brighton, oh dear! West Ham would be OK, I think. If we went, how long would it be for?
EEB