Just a handful of providers offer them, including Co-operative Insurance and NFU Mutual. Monmouthshire Building Society is paying 4.25 per cent on balances of £10, while Kent Reliance and Safeway are both paying 4.20 per cent. They offer higher rates of interest than other savings accounts, plus returns are tax-free. You can invest up to £3,000 each tax year in a cash ISA, many of which require no notice, allowing you to get your hands on your money in an emergency.

“People who benefit from these short rallies are the frenetic anoraks who trade daily or those who drip-feed money monthly,” says Mr Urquhart Stewart. “We’re emphasising the need to be very stock selective,” he says. At the moment, it’s like a trampoline.”Even so, the case for having some equity exposure is still strong. One of the most serious is declining consumer confidence, which in the US has fallen to its lowest level since October 1993. With the war against Iraq in its second week, hopes of a short conflict have faded.

But Tom Saxlund believes that even reading is good for your skiing. In summer, fitness is the thing.”This might sound too active for the average summer break, when the idea of lying beside a pool with a good book could be more appealing. Martin Jefferies, a sports therapist and ski teacher who holds stretch workshops at Natureworks in central London, finds this unsurprising. Tackling that can be a good thing.”Year-round skiing is possible, of course; for example, on the glaciers at Tignes or Hintertux, or in the southern hemisphere in New Zealand or Chile But these tend to be expensive options A more modest alternative is to go to an artificial slope. When skiing, your technique can go out of the window because you are frightened. This kind of activity is popular with those who are committed to their skiing. It’s a great place – plenty of fresh air and hot sunny weather.”Some winter-sports fans often forget that there is plenty to do in the mountains in summer, too.

“I tend to take my holidays during the winter – quite a lot of us do that,” says Vanessa Fisher from the Ski Club of Great Britain. Despite excellent conditions in many resorts, the snow can’t last for ever, and as soon as the Easter holidays are over, we shall be putting away our skis for this season, and turning our minds to summer holidays. Disabled parking in the grounds.Claridge’s, Brook Street, London W1 (020-7950 5491; ); double rooms from £370. Full disabled access to the exhibition.Eltham Palace, Eltham, London (020-8294 2548; .uk). Then watch the staff roll up the rugs as the Piccadilly Dance Orchestra presents tunes from the 1920s, 30s and 40s.