Economy experts are predicting that our £1 will cost at least £5 or more to buy in the next few years. Inflation, taxation and something called costation will over the next few years push up the price of the £1 to well over the £5 mark.
A professor of economics at a big university told us: 'The government will soon be levying a money tax of some 200% and that coupled with the shrinking £1 and the cost of oil will all mean a weak £1.'
Not making head nor tail of his explanation we decided to consult a treasury minister who agreed with the professor. He said: 'The professor is correct in much of his explanation apart from the blame he places at the door of the government who will remain blameless in all of this.'
A union spokesperson said: 'We will be calling for a national strike in favour of our £1. We need to protect our £1's or we will face the same situation as Russia in the 80's where one week a loaf of bread cost 5 rubles and the next 100,000! No wonder they all looked miserable.'
So, if you have any spare £1's cash them in now for $1's.