If the outlook of some commentators, Government ministers included, becomes any more gloomy, then it would seem we will all be living on bread and water before the year is out.

Such universal hand-wringing from those who should know better is annoying, but that does not stop me from my quest to seek value for money in Oxfordshire’s business lunch scene.

And, as I have said before, there is plenty to be had, as restaurants and other catering establishments continue to fall over themselves with offers designed to lure in the customer who may otherwise, if more experts are to be believed, spend their money at Sainsbury’s for a meal at home, rather than going out.

So it was I found myself outside the grand entrance of the Malmaison Hotel in Oxford’s Castle development. Not the sort of place you would have thought to be unduly affected by the recession.

But in my hand I was clutching a piece of paper carefully printed from the Internet which was my passport to a £29 lunch in the Brasserie.

Not exactly good value for one, you may have thought, but actually this was for two. Not only that, but it was for two courses, a bottle of wine and coffee afterwards. Could you ask for anything more? I was about to find out.

The Brasserie is in the basement of the former prison building and features a long bar where, on an evening (when this offer is still valid), it would be very tempting to blow all the money saved on the meal. But we managed to resist and took our place at a centrally-placed table, from which we could survey our atmospherically-lit surroundings.

Our waiter appeared almost immediately, proffering large menu boards and, although the choice was clearly limited, there seemed plenty to go at. As usual, we decided to be awkward and share a starter and dessert, so that neither of us missed out on the full range of courses available. But that was no problem.

Shortly afterwards, our choice of seafood salad appeared which was a surprising concoction of pickled mussels, shrimps and cockles which, unfortunately, all tasted of the vinegar in which they had clearly been steeped for some time.

“I have never seen so many tentacles in a salad,” said my companion. At least I think that was what she said and we moved on quickly.

Things could only get better and, fortunately they did. The house white wine helped drown the starter effectively and was crisp and refreshing, smoothing the way for our main course.

I had chosen shepherd’s pie which had great flavour. It came on its own, but we ordered a side dish of green beans which were deliciously fresh and crunchy.

Across the table, my companion was enjoying the beans with her trout, which was small but very tasty, with a delicately-flavoured sauce and spinach proving a healthy combination.

During the break between courses, we noted there were plenty of people enjoying lunch and taking advantage of the offer in what were relaxing surroundings with excellent service which normally come at a premium.

I was also wondering how the management could afford the cut-price fare, but when the menus returned for dessert, there was a partial explanation.

All of the food included in the offer had come from local suppliers and there were some familiar names, including Appleton-based Field Farm Fresh, Hayman’s Fisheries and the Oxford Cheese Company, both based in Oxford’s Covered Market, Jericho’s Kingston Fruiterers and Alden’s butchers of Osney Mead, Oxford.

For a hotel to have such strong local connections is admirable, and hopefully these firms are used for the full menu as well as this cut-price option, as it is good for the local economy in this recession, and also the environment, by cutting down on food miles.

I am not quite sure of the origin of the sticky toffee pudding we had chosen for dessert but it was excellent and, perhaps, the highlight of the meal. Rich and moist with a cream and toffee sauce, it literally melted in the mouth.

As well as being great value, this meal had proved surprisingly good. The portions were a little smaller than usual, and there were few accompaniments, but for an enjoyable lunch without price-related guilt, this is hard to beat.

o The £29 lunch for two runs until February 28, and can only be obtained by registering your details on the Malmaison website.