Whitbread says that a jump in reservations at its Premier Inn business is down to cost-conscious executives trading down from grander hotels.

This follows claims that the middle classes are shopping at Aldi and Lidl - first arming themselves with Waitrose bags to carry their purchases - “staycationing” at home and rooting through charity shops for their clothes.

Meanwhile investment bankers are said to be cancelling their second BlackBerry and, for all we know, taking their Tesco sandwiches on to Ryanair.

In Premier's case, it seems somewhat improbable. Are they claiming for a room at the Grand while staying at Premier Inns, so compensating for their ravaged bonuses? Is it all an expenses fiddle?

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