THE Government says this year is going be particularly hard as cost of living rises, wages freeze and jobs are lost. We will all have to tighten our belts.

Of course, some will have to tighten their belts more than others. Those on ordinary incomes will need braces as well and a bit of string for when they pawn their belt.

However, I suspect the wealthy will hardly feel a thing when it comes to feeding the family or being able to afford a pint. Everything is relative. As two pieces of news illustrated in this age of recession.

The first was that the most expensive block of flats in the world have gone on sale in London. The penthouse at Hyde Park was bought for £135 million and a one bedroomed flat in the complex is going for £65 million.

The second was that when footballer Jermaine Pennant moved from Spanish club Real Zaragoza to return to Britain to play for Stoke City, he left his £98,000 Porsche, with personalised number plate, at the railway station to get a train home, and forgot about it. Five months later, he was notified it was still accumulating parking tickets.

Recession? What recession?