31 JULY 1993, Page 22

Play it again

MY DESERT ISLAND would not be com- plete without the Confederation of British Industry's record of a call for lower interest rates. This golden oldie is going round again, for the CBI wants to keep the exchange rate down. This is the same CBI which was so happy to have sterling in the ERM, so that company chairmen would not have to tire out their highly-paid brains by worrying about exchange rates. What dis- turbs me about the CBI is that it may repre- sent its members.