The BBC provides the commentary on our lives, the soundtrack of the nation. It is one of the most powerful unifying forces in the United Kingdom today.

Inflation is not always the main problem, or indeed a problem at all. Sometimes, though rarely, deflation is a more serious threat, and we need to shelve many of the orthodoxies we have held so dear.

The BBC should not have a cheerleader. It should have somebody who runs the organisation in the interests of the public and that should be a chairman.

Over the last decade, - economists seemed to share a broad consensus about economic policy, with the old splits between monetarists and Keynesians apparently being settled by events. But the Great Recession of the last two years has changed everything.

It was an interesting question as to whether the BBC had a future in the digital world, and what form of market failure could justify the licence fee system.

Normally I would not recommend a book that tells you how to make money in the stock market. Most of these books are aimed at gullible folk, and they usually make much more money for their authors than they do for the investing public.

I want the BBC to be a mass market public service broadcaster still funded by the licence fee... and the licence fee is more durable than many people in the commercial sector believe.