On the day that the International Monetary Fund announced it was upping its growth forecast for the UK’s economy to a dizzying 2.4 per cent, the players and agents of English rugby were mulling over a rather more significant increase in the funds available for their payment – 11.7 per cent.
That's the increase in the salary cap announced by Premiership Rugby Ltd, taking the wage ceiling per club up to £5 million for the 2014-15 season.
The topic of the salary cap is an old favourite of mine. Will the latest increase mean bigger squads for Premiership sides, or will it just result in the same number of players receiving more dosh (along with their agents, of course)? My thoughts are here.