Wot - No R word here says BBC

Sister Moonshine from the album Challenge, What Challenge by Supertramp.
I would have used The Meaning but I can't find a decent video of it

Mandy and that nice Mr Campbell must have on the blower to their old pals at the BBC to explain to them that the R word is forbidden. There is no R word and they must not use the R word. They will have explained that under Labour the R word it is not a R word but a "downturn", this is because as we know under Brown there is no possibility of "Boom and Bust". Also they are now turning a Crisis into a "Challenge". So officially for the BBC Friday when the latest figures appear it it will be a Downturn day rather than a R word Day. Will it also be D-Day for Brown.

As Matthew Parris says in the Times

Corporate challenge

Crisis? What crisis? I'm looking forward to catching out BBC newscasters and editors using that word. From tomorrow there is to be a corporation-wide ban on broadcast references to any “economic crisis” when discussing what our Government might prefer to call the “global financial challenge”. In place of “crisis” BBC staff have apparently been instructed to say “downturn” - the same word, incidentally, that Cabinet ministers are pointedly employing in place of “recession” or even “coming recession”. Friday is D (for Downturn) Day in corporation-speak.

Move along now no bias at the BBC.

Now that we've come to the crunch... | Matthew Parris - Times Online