Rock groups and pop artists are said to be dismayed at the decision by many major record labels to impose a blanket 25% cutback on all of their outgoings.

EMI, whose owners Terra Firma are rumoured to be planning to drop the label, was the first to reveal the quantitative easing measures that would see all facets of the their business – including groups – reduced by a quarter in size.

Quietus sources suggest that the move by EMI to impose a reduction in the size of their acts is causing friction in resurgent pop duo Pet Shop Boys. Neil Tennant is insisting that his partner Chris Lowe part with his legs and be fitted into a Davros-style wheelchair as he does little moving about onstage. Lowe is said to be furious with Tennant's grandstanding.

The move is even affecting the independent sector. Despite their current unknown label status, Oxford based brainboxes Radiohead grasped the concept immediately, with Thom Yorke announcing: "Since Kid A we've followed a progressively more electronic based sound so, unfortunately, it makes sense to let our second guitarist Ed O'Brien go. And Jonny Greenwood below the knees."

Elsewhere, confusion reigned in the Oasis camp when it was revealed that Liam Gallagher did not have a firm grasp of the concept of "25%". Robbie Williams is also said to be extremely concerned.