Interest rate cuts have an effect in stimulating an economy by directly or indirectly making someone, somewhere, spend more than they otherwise would. That extra spending increases demand and ensures that we all carry on with work to do, without us having to slash our prices or our wrists.

Some people harbour an awkward clash of feelings - homosexual attraction on the one hand and shame or embarrassment about that attraction on the other. It is well known that the mind struggles to sustain conflicting views.

I don't keep it secret that I live with my partner Gio. I'm very proud of my gayness. But there is lots I wouldn't want the press to write about me... it is a matter of regret that being gay is the most interesting thing about me.

Once we are fed, heated, housed and healthy, our extra consumption inevitably has an element of luxury about it. And once luxury enters the scene, the practicalities are in trouble, as women who wear expensive stiletto heels can testify.

It doesn't annoy me but I think of myself as a presenter who is gay, rather than a gay presenter. It's a subtle distinction, but that's how I view it.

For me, the main principle for broadcasters has to be that if people stand to benefit from an interview, they should be prepared to face some downside as well.

We escaped the last big bursting of a bubble - the dotcom bubble - with a relatively light U.S. recession. On that occasion, the world economy found its way back on track fairly quickly.