Charles Spencer

Credit where it’s due

Charles Spencer battles the credit crunch

issue 11 October 2008

This is a time for making the most of small mercies. One of the greatest of these, as the financial system collapses around us, is the splendid joke that is Robert Peston of the BBC.

His extraordinarily camp, over-emphatic delivery would be perfect for reporting glitzy Broadway first nights but seems hilariously at odds with worldwide economic catastrophe. Peston has all the glee of the callow cub reporter rejoicing in the size of his scoop while lacking the imagination to understand the anxiety his excitable tales of doom-and-gloom might be causing others.

Like poor Mr and Mrs Spencer of Claygate, Surrey, for instance, who somehow managed to commit themselves to £40,000 worth of home improvements (double glazing and a new kitchen) just before the current crisis went big time. As I do my lengths at the swimming pool, I sometimes experience a knot of fear forming in my guts.

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