The degree of leverage now being reversed is on a staggering scale, and the underlying global imbalances – notably between the savers and the spenders – will require long and painful adjustment.

The worship of youth has diminished - perhaps generally - in recent years.

In my job I meet many outstanding, world class, British based companies. But we need more companies and more jobs in the companies we have.

I made friends with a boy who was a communist when I was 13 and that broadened my political views, but it also brought me into conflict with my father who was very Right-wing.

I am a bit of a lefty on some issues.

The degree of leverage now being reversed is on a staggering scale, and the underlying global imbalances – notably between the savers and the spenders – will require long and painful adjustment.

When I was a child we were sufficiently well off for me to be a picky eater and I still cannot eat vegetables cooked in the traditional British manner.