Letter: King Canute games fail to bring back confidence

Sir: The Chancellor has repeatedly stated that there would be no devaluation, we would stay in the ERM, the recession has bottomed, etc, etc.

Now that his veracity has been established, can we take heart from his statement that he will not resign?

Yours etc,

J. M. A. KILBURN

Aylesbury, Buckinghamshire

18 September