Last year, Toye announced its full-year results on April Now if Regional Trends is right, the south east English enjoy the higher standard of living. Hender- son’s other two trusts in the area, Japan Special Situations and Pacific Smaller Compa- nies, will continue as before. Their babies are more likely to be born healthy and each working person has fewer peo- ple to support The Germans will suffer inevitably far more car crashes, and win be nearly twice as likely to be working in factories those nasty, noisy places , some- thing the English gave np years ago. The UK government is about to award the Bowman communications contract for the British army, which would be profitable to Racal later this decade; and Che group has won some exciting orders in its avi- onics division to put tele- phones in aircraft What is most encouraging for share ho ld e rs Is that Racal has started to squeeze large quantities of cash out of what was a fairly relaxed organisa- tion before demerger.

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The per capita income works out at around four times the national average, although the many stern signs around the gn warning against tax evasion suggest that material success has not made people any more willing to share their spoils with the state. They are instinctively defensive players and prefer to play a tight restricting game.

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In the short run, reported earnings could con- tinue to deteriorate. Is it possible that there are hidden passions and secrets here? This means that the low- paid scheme member ends up with a combined state and occupational pension higher than his or her final salary.

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