WHILE I welcome George Osborne’s announcement that he will invest £5bn in schools, science and transport projects, I question the need to pay for it with even more cuts.

Since 2009 the UK Government has, through a system called quantitative easing, created £375bn basically out of thin air to give to the banks to cover their losses, caused basically by gambling on stock markets and bond markets.

£375bn is the equivalent of approximately £6,000 for every man, woman and child in the country. That doesn’t come at no cost to plebs, eventually it filters down to affect the ‘pound in your pocket’ through inflation, taxation and the devaluation of the pound.

However, another £5bn to cover public investment would hardly be noticed and would be a far better alternative than further cutting services like the NHS and, by doing so, increasing unemployment.

R LEE

Burford Road

Witney