The Governor of the Bank of England, Mervyn King, has written to the Chancellor of the Exchequer, following the news that the Consumer Price Index has risen by 3.3%. According to Treasury rules, the governor must write an explanation if the rate of inflation exceeds 3%.
Mervyn offered a variety of reasons for the rise, including “It wasn’t me, it was some big boys from another bank”, “I haven’t got my PFI kit”, “The dog ate my economic forecast” and “I’ve got a verucca.”
Mr Darling is said to be very cross, and will either make Mervyn write out “I must not tell the truth” a thousand times, or write a letter to his parents.
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