THE Bank of England states that the economy could get in trouble again due to the swift increase in house prices. Why is this happening?

I believe all this country’s economic problems are caused by greed, from big businesses right down to the working class, and in particular mortgage companies, who have the borrowers by the scruff of the neck because if they fail to make repayments the house could be repossessed – greed again.

Okay, we all want better lives and bigger, nicer properties are one way of achieving more for our families. But greed eventually bites back. Too many big companies have become big through greed by making much larger than needed profits.

I ran my own large successful construction company (until illness, then disability forced me to retire early) but in all the 34 years, I only ever wanted, and made, a profit enough to live on and survive. My reward was never being without work and a happy bunch of employees, culminating in being rewarded with large Government contracts. Years ago I worked with John Laing construction who had a simple scheme in place where the harder one worked, the bigger was the reward, which worked well on a time and motion theme.

If all business used a similar bonus scheme, their profits would increase due to getting more work done, while the employees would have more in their paypackets.

The only problem with such schemes is that standards can fall so a close watch on output is necessary.

ADRIAN TAYLOR, Duncan Close, Eynsham

 

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