Thank goodness we can have a run on the pound when we need one

Martin Vander Weyer looks ahead to next week’s Pre-Budget Report and reflects on George Osborne’s contentious remarks about the devaluation of sterling. It looks like Gordon Brown is getting away with his borrowing binge — leaving the Tories isolated

On Monday afternoon I rang a distinguished City economist and asked him a rather technical question about the relationship between issuance of gilt-edged stock and movements in the dollar-sterling exchange rate.