John Haran questioned the need of a 21st century economic model for present circumstances, though the background is unchanged since the Thirties.

Getting into debt is similar for governments and households, but the available remedies differ.

Regular monthly overspends, the deficit, build up expensive indebtedness worsening the monthly deficit. Careful consideration of spending cuts and the need to increase income is essential by both.

However, the ability to increase income to ease the problem varies.

Households have few options with the present employment situation.

Governments have many options by way of taxation.

The increased personal allowance for the lower paid is welcome, but surely tax rates should have been increased for others.

Furthermore the substantial tax reduction made to the richest in our society is demonstrably immoral. While one regrets the dreadful problems of the third world, charity begins at home and the increase in the overseas aid budget, while too many of our own people are relying on food banks, is deplorable.

Les Harrington
St Mary’s Drive