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In the midst of a recession, with cutbacks, closures and redundancies commonplace, with dustmen and street-sweepers subjected to pay cuts, we hear today two pieces of news extraordinary in their contrast: that the rich need tax cuts because they are still not rich enough (Double dip fears grow but still no plan B, 7 September), and that poor working people are having to give up work because childcare costs are greater than what they can earn. In the context of this, the recent riots and many other pointers, just what will it take to make our ruling elite see that if these are the results of the system in which we live, the system itself is fundamentally rotten? And just what value should we place on those magnificent public school/Oxbridge educations if the results are people unable to see this?
Dr Stephen Riley
Ferndown, Dorset
• The amusing point is George Osborne pleading the international economic situation in mitigation for failure to stimulate adequate growth after having poured scorn on the previous Labour administration's identical "excuse" for its own problems. The serious point he has apparently missed is that the international situation continues to deteriorate mainly because country and after country is following his example in pursuing instant, excessive austerity. The bewildering and alarming point is that the increasingly dysfunctional markets, and now apparently the IMF, demand austerity and growth at the same time. It is only a question of time before history teachers are blamed for failing clearly to teach the lessons of the 1920s and 30s.
Nigel de Gruchy
Orpington, Kent
• How much longer until politicians understand that having casino banking underwritten by government and hence the taxpayer is not in the national interest? Legislation to stop this must be introduced as soon as possible by enforcing banks to ringfence and hence separate casino banking from the rest. This could go ahead now. The US has made considerable progress in legislating and deciding how to separate banking functions. The problem of ringfencing should not be confused with that of growing the economy.
John Pickering
Labour finance and industry group
• So now we know the real reason for the failure of the economy to grow. It's the 50p tax rate, and not, as earlier thought, Gordon Brown, the bad winter weather, the Icelandic volcano, the royal wedding, the European debt crisis, Gordon Brown again, the American credit downgrade, the Arab spring, leaves on the line, riots in English cities, turbulent economic headwinds, the phone hacking scandal, and Colonel Gaddafi with Gordon Brown. Just nothing to do with me, gov.
Adrian Jackson
Hope Valley, Derbyshire
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