Before I start this piece, which is about the future of the Daily Telegraph, I should make clear that it is written by me. When I last wrote at length about the Telegraph – rather controversially, perhaps – I appear to have caused palpitations in the heart of at least one banker. The Spectator is owned by the same company as the Daily Telegraph, namely Hollinger International. And this banker, who may have been a somewhat unsophisticated individual, formed the view that anything appearing in The Spectator about the Telegraph must carry some sort of proprietorial stamp of approval, and reflect in some way the thinking of its higher management. This is completely untrue. What appears here are only my thoughts. I have not even spoken to Conrad Black, chairman of Hollinger International, or Dan Colson, chief executive of the Telegraph Group, before writing this article. Unlike the aforementioned banker, both men understand perfectly well that this column has nothing to do with Hollinger save for the fact that it happens to appear in a space in a magazine which the company owns.

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