13 September 2013
Bank Must Limit Tripe Price Boom
The Bank of England should use its powers to limit tripe price increases to 5% a year to "take the froth out" of price booms, Tripe Marketing Board chairman Sir Norman Wrassle said yesterday.
Activity in the UK tripe market has picked up in recent months after six decades of inactivity and some observers have warned of a forthcoming price bubble. Some forecasters are suggesting tripe prices might break through the 5% barrier this year, owing to increasing demand from first-time buyers at a time when the supply of tripe has failed to keep up with demand.
Speaking at a meeting of the Chorley Round Table last night, Sir Norman, said: "In retrospect, launching Lancashire Calamari without improving the supply chain might well have been a mistake. We must learn from this lesson and ensure that any new product launches are backed by our ability to meet demand.
"The Bank of England now has the ability to take the froth out of future tripe market booms without having to resort to interest rate increases. Capping price growth at, say, 5% is one way of doing this," he said.
Sir Norman pointed to the success of trials of Lancashire Calamari in pubs and restaurants as far apart as Wiltshire and Manchester as evidence that tripe was making a comeback. He pledged that the TMB would use all the powers at its disposal to keep tripe affordable for decent, hard-working people and their dogs.
"It would be a crying shame if our recent success in promoting tripe were let down by the inability of folk to afford it, forcing them into the hands of doorstep lenders and back-street tripe traders," Sir Norman said.