Speaking yesterday, King started to sound like one of us, subject to the whims of central bankers: “I have great sympathy with those who rely on savings. As a pensioner myself – I have recently acquired that status – you can see why I am concerned.”
The rest of the Bank evidently shares King’s concern. A body devoted to limiting inflation has been hedging its own pension bets for years – quite sensibly, given the MPC’s inability to meet its targets. The Bank’s pension fund is 94.7 per cent invested in index-linked gilts and other index-linked securities. What a relief for King, whose pension pot was worth £5.3m in 2009, when last disclosed.
■ Online entrepreneur and co-founder of the website lastminute.com Lady (Martha) Lane-Fox was giving the scoop on her digital success at one of Ben & Jerry’s business workshops this week. Lane-Fox recounted the tale of her first meeting with Gordon Brown. Sitting next to Brown at a Chequers lunch, she grilled the then Prime Minister on his favourite karaoke song – which turned out to be Love Me Do by The Beatles.
“Not many people around the country might be feeling that” was Lane-Fox’s instant response. Cue polite laughter.
■ Just over four weeks to go now until a team of brave runners from City A.M. take part in the Gherkin Challenge on 23 June. Sprinting up the steps with our finest in-house athletes will be hundreds of other City fitties. However, the race up the 38 floors to the top of 30 St Mary Axe is already proving to be a dramatic affair. The City A.M. team are temporarily a man down after a dislocated shoulder took out one team member during a rigorous office training session. Brings a whole new meaning to the mantra no pain, no gain. Money raised from the climb goes to children’s charity NSPCC: www.gherkinchallenge.org.uk