1:25pm Thursday 19th September 2013 in Letters
BUSINESS secretary Vince Cable has criticised the Coalition’s economic policy of cheap taxpayer-funded mortgages as unsustainable.
He rightly points out the government is creating yet another property bubble, which will burst as soon as interest rates rise. Mr Cable points out the small and modest upturn is built on more debt, proving the government has not learned any lessons from the global financial crash.
The sale of the Royal Mail is a stark admission of the scale of the Coalition’s economic failures, and a desperate attempt to find money to help pay off the deficit, which the Coalition has failed to do within its own prescribed time of five years. It is time for the UK to move away from the failed economic model, built around ever increasing house inflation, which led to huge taxpayer bailouts for high street banks.
Cllr Nigel Dix Montclaire Ave Blackwood
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