In which we praise Ian Cowie

Hurrah!

More than 20 years after Barlow Clowes went bust, taxpayers appear to have been repaid the £153m which was distributed as ex-gratia compensation to more than 14,000 investors.

No, not that bit, this bit:

But taxpayers should not break out the champagne just yet. According to the Office for National Statistics, £1 in 1988 had the same purchasing power as £2.11 today. So, in real terms, less than half the cost of Barlow Clowes’ compensation bill has been recovered.

A newspaper distinguishing between nominal and real sums.

Hurrah!

2 thoughts on “In which we praise Ian Cowie”

  1. Journalists know perfectly well this issue. When they don’t invoke it it’s not because they don’t know, it’s because it undermines their angle. In other words, deliberate deceit.

  2. KT:

    “Deceit” is alweays “deliberate.” Otherwise, the misinformation is, simply, a “mistake.”

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