In that context yesterday’s 15,000 crowd (2,000 down on last year) is final proof that it doesn’t work.Far better to accept yesterday as just a cracking afternoon’s racing and to inject all the grand titles and high powered promotion into a day which needs a relaunch and is at a far more suitable time for [...]

The main conclusion was that there was little difference, but if anything, the Treasury’s record overall was marginally better than the average of independent forecasts.These findings were confirmed by a recent independent study which concluded: ‘There does not appear to be any forecaster who could claim to have been correct in both the boom of [...]

They also activated an agreement whereby the Bank of England will, in effect, have unlimited access to marks supplied by the Bundesbank which it can use to support the pound.Normally, such open-ended credit is only available to currencies trading at their floor within the ERM.The tensions in the system grew more widespread yesterday when the [...]

You don’t budge – you certainly don’t call the police – if you hear shots.’Someone else told me that in the mid-Eighties all university students with KwaZulu bursaries were summoned to Chief Buthelezi’s office and ordered to sign a pledge of loyalty to Inkatha. British workers are also consumers of goods, investors in houses or [...]