Chatting with Rupert about Treasury matters in the drawing room before bedtime when it suddenly occurred to him that right now would be a super opportunity to cap all state benefits at 1% per anum.
I was puzzled by the idea at first, but because Rupert read PPE at Oxford I thought I'd temporarily turn my gaze away from the figurine featured on antiques road show and try and work out what earth he was on about.
Rupert says it's all to do with the price of things in the shops.
He tells me that, as it stands at the moment, if prices of stuff goes up the benefits we pay, SORRY the Government, has to pay, goes up by the same abount. I think I know what Rupert's driving at now. He's on the 'phone giving *
George an earful right now saying:
"Just put a 1% cap on benefits now while inflation is next to nothing, and when we collapse the pound after Boris wins Brexit inflation will go through the roof and we won't have to pay sky-high benefits ever again...”
Can't see it working myself, but to protect the old inheritance I'd better ask Francis to buy gold at today’s price for payment in 2017/18.
Now, how much did that King Charles I figurine go for after all that?
*
George Osborne: Chancellor of the Exchequer and old-Etonian