Will changes to lobby rules really mean greater clarity?

When I sent the pound plummeting towards 1:1 parity with the US dollar in January 1985, after briefing the Sunday lobby, everyone soon knew the culprit. The press forgot about the unattributable nature of lobby briefings and blabbed. I had said extremely accurately, if very unwisely, that ’this Government will not throw good money after bad defending the pound’. It didn’t. You can’t buck the market. So interest rates were raised decisively - as they should have been earlier.

by Sir BERNARD INGHAM, Express

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