THE FUTILITY SCHEME

As the recession bites, the cogs in the corporate machine bite harder. One spends ever longer slaving over a hot spreadsheet, trying to create magic formulae that will stop the numbers leaking off the page. Incessant demands rain down from on high for yet more strategies and even cleverer ideas. Vast swathes of time are laid waste sitting writing reports on what one would be doing if only one wasn't forced to sit and write a report about it.

And now that the series of measures designed to reduce the cost base has been implemented, one has even more work, because there are fewer people around to help you do it. Broadly speaking, one has to work triply hard to stay standing still, and I like nothing more than being left alone to make use of the idle minute.

So when another meeting is scheduled in the boardroom to discuss trading - or to 'share ideas' - my heart sinks even lower in my Pedro Garcia shboots. Two hours carved out of my day, sitting round an enormous table drinking bad coffee is its own particular kind of hell.

I've long since given up wondering if these Kafkaesque examples of corporate comradeship were secretly scripted by Martin Lukes, as colleagues discuss amiably whether they have the required bandwidth [tr: enough people ] or if something's actionable [tr: we can get on with trying to sort it out, as opposed to get the lawyers involved], or suggest escalating an issue. I spent a lot of time drawing confused doodles in my Smythson notebook before I realised this had nothing to do with making things worse, but simply meant it should be pushed upstairs for someone higher in the food chain to deal with. One is tempted to feed in bonkers stuff, exhorting people to 'get the potato on the fork', though in this environment the response would no doubt be that they were following Atkins.

In truth, meetings here are - management-speak aside - remarkable for the rational, open, professional and timely way in which they're conducted, with plenty of emphasis on debate and frank discussion.

But lately, and particularly in the wake of the recent issues, the tenor of these meetings has changed. People no longer speak out, or up. There is no more debate, or disagreement, or sticking of the head above the parapet. There's a new meekness, a subservience, an interest in toeing the party line. But what was more astonishing than anything was the dramatic sartorial shift: at least three-quarters of the attendees were wearing suits. This is a magazine company, not the civil service: employees are used to expressing themselves through their clothes and having the freedom to wear what they want when they want, whether it's 'trying incredibly hard' high fashion or dress-down friday chino-chic. The lines between 'home' clothes and 'work' clothes had become eroded over the last 15 odd years to the point where people no longer had a work uniform. Jeans were commonplace - albeit those with a hefty price tag, and worn with fabulous shoes.

And yet, overnight, the dress code has changed, reflecting a new, cautious, serious mood.

It's not just here, it's all over town - reports suggest that even at the top end, bespoke tailoring has never been more in demand: it's one of the few fashion categories that's in double digit growth. When you're a hedge fund manager and your fund is making pots of money for the client, no one cares if you're dressed in Havaianas and a pair of cut off denim shorts. But now things are tighter, and people more risk averse, it seems only the seriousness of a made to measure suit will do to convey the seriousness with which you take the guardianship of your client's money.

It's as if some new sumptuary law has been put in place: the economy and people's uncertainty about their jobs has rendered decoration, individuality and flair in poor taste. Clothes are cut along austerity lines, in sober neutrals. Waists are nipped in. Fabric used with a parsimony not seen since Molyneux, Worth, Amies and the rest of the Incorporated Society of Fashion Designer united in 1941 to create thirty-four utility clothing designs, with the CC41 label (Civilian Clothing 1941) sewn inside.

In 1942, the British government issued the Civilian Clothing Order, which made illegal the decorating of clothing with additional buttons, embroidery, extravagant cuffs or other frills and furbellows.

But in 2009, it seems we are more self-regulating. And it's not merely 'street-fashion', a trend coming consumer up rather than designer down: the key looks on the A/W 09 ready to wear runways also had strong tones of tailored austerity chic, and with the exception of the price tag, could have come straight out of the pattern book of those 34 Utility designs.

Prada set the tone with its boiled wool dresses, with slim, belted waists and defined, tailored shoulders.

Even Lanvin took an unusually sotto voce, pared down approach to severe tailoring, albeit one with a defiantly sexy edge

And me? Despite bellyaching about the way meetings appear to be a viable alternative to real work, I'm sure I'll be as suited and booted as the rest of them before the next session in the boardroom comes around.

If you want to be seen to be waging war on economic armageddon, better make sure you're in the right uniform.