WITH such a focus on business expenses, the Margin read with interest of the man sacked in Britain for £1. Terry Smith, a council worker, was accused of falsifying his travel expenses, having claimed £4.20 for a journey which his employer said should have been worth £3.12. He was interviewed and sacked for gross misconduct.

An industrial tribunal heard Mr Smith, an enforcement officer, strongly deny the charge and claim unfair dismissal. Just after he gave evidence, his employers, the North Hertfordshire District Council, agreed to pay him £10,000 compensation and £500 costs. And all for the sake of a quid.