Tomorrow's Business Today
A PR triumph for the PM
Liz Truss went on local radio today, her first public appearances since the calamitous market reaction to last Friday’s mini-budget.
By the consent of the snooty London media, this was a clear sign of cowardice.
And moreover, a PR disaster.
Unlike colleagues, I think it was rather smart.
(Before you accuse me of going mushy – I think Liz Truss is a soft-headed nutter and a danger to all of us. I’m talking about the PR optics.)
BBC Leeds presenter Rima Ahmed made a name for herself by asking the PM: “Where you been?”
On Radio Kent, someone asked: “Are you ashamed of what you have done?”
The real reason Radio 4’s Today show is cheesed off is that it expects to be the first to ask her those questions.
Over at The New Statesman, they think Truss underestimated local radio hacks.
She didn’t. She knew full well what she said would be instantly picked up and reported in the mainstream press.
That markets would react to what she said, even while Radio Nottingham mocked her “reverse Robin Hood” policies.
But since she was going to get duffed over by the media no matter what she said, why not score a few points by going local?
Listeners of BBC Norfolk might have thought, hey, she fronted up.
And she fronted up directly to us. Fair Play. And in fact, I like my tax cut. Knickers to the bond market.
Press release of the day
Two fifths of customer enquiries to retailers go unanswered, says this from CM.com.
Next, M&S and B&Q do well, the others less so.
We should remember this when retailers complain how tough conditions are. Talk to your customers!
Stories that will keep rolling
1) Is the Bank of England gilt intervention working out?
2) Is the eurozone managing inflation better than us?
3) Are fewer Covid deaths hitting returns at Dignity?
4) What is the next major asset to suffer market volatility?