Has Cllr Nigel Dix forgotten that it was a Labour-controlled government who actually caused the recession by following a pro-capitalist neo-liberal economic strategy which favoured the big-business corporate élite?

Corporations kept their profits high by allowing workers’ wages to stagnate.

The problem of how workers could afford commodities was solved by allowing them to have easy access to credit.

A housing bubble was created so that high house prices meant that people could borrow against the cost of their homes.

When the bubble burst with the great subprime default, we had a credit crisis. Casino capitalist speculators and the banks lost billions. The Labour government then bailed them out with public monies!

While we plebeians pay for the mess with forced austerity, the crooks who created it are continuing to keep their snouts in the expensive lifestyle trough! Cllr Nigel Dix should perhaps check out Graham Turner’s revealing book The Credit Crunch and stop talking pure unadulterated garbage!

Terry Banfield, Cardigan Crescent, Cwmbran