The economic illiteracy of Yvette Cooper seems to know no bounds. This is the woman who is Chief Secretary to the Treasury, remember - although it has to be said that she reminds me more and more of Rosa Klebb.
Yesterday she came out with this corker...
"We have never had a policy of targeting the Pound. Our policy has been to target inflation."
So the Pound should be left to wither. Now, call me old fashioned but last time I looked at the laws of economics they told me that a weak currency means the price of imports goes up, which leads to higher prices, therefore higher inflation.
Or does this New Labour clone think people are too stupid to work that out for themselves?