Commons Drinks Up Just 5%

Regular readers will remember much fanfare from Bercow when he announced that, in these austere times, the cost of subsidised food and drink on the Parliamentary Estate would be rising, bringing it into line with “high-street” rivals. So the cheaper end of the real world.

Half a million quid will be removed from the subsidy, but what does that actually mean in practice? Guido’s man behind the bar whispered that for all the press releases and back slapping, the plan is to only put prices up by a meagre 5%. The Commons bars and terraces will still be the cheapest place to drink in town even after this small rise. The Guinness is half price by Central London standards, cheers.




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Quote of the Day

The FT’s Wolfgang Munchau on the “fake maths” of economic forecasts:

“The truth is that our ability to forecast the future beyond the current quarter is limited… The curse of our time is fake maths. Think of it as fake news for numerically literate intellectuals: it is the abuse of statistics and economic models to peddle one’s own political prejudice… The fakeness of the maths lies in an exaggerated inference. Economic models have their uses, as do opinion polls. They provide information to policymakers and markets. But nobody can see through the fog of the future.”

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