After the fiasco of the Olympic Committee spending £400,000 on their logo, Reading Borough Council couldn't let such a monumental waste of public money go unchallenged. Our sources have revealed that a new logo has been commissioned and will be unveiled shortly.

"You can never have enough logos," said head of communications, Sally Swift. " 'Your Reading', 'Safer Reading', 'Reading 2020'; we haven't had a new one for a few minutes, so we asked our chums at a few local marketing and communications agencies to come up with a new logo for Reading and we are very pleased with the results."

Lead designer, Quentin Farquarson, from Money for Old Rope Communications told us: "I got this idea from trawling about on the internet and then asked myself what is it about Reading that really catches the public's imagination and I thought, I know it's the old shopping trolleys in the Kennet and Thames, so I added a blue swish symbolising the dumping ground of archetypal Reading streetware, the two rivers. Job's a good 'un, that'll be £100,000 please. Not bad for ten minutes work and some poncey management speak to sell the idea."