Predictably the Shadow Chancellor’s response to the Budget was a dreary monologue.
It was small wonder he was feeling morose since the budget’s taxation of the super rich was going to hit his wealthy Old Etonian friends in the Conservative Party.
George Osborne seems to have forgotten that the crisis originated in America, due to the proliferation of sub prime mortgages – with huge sums lent to those with no hope of ever repaying them. This triggered an avalanche of banking collapse which spread to the UK.
The current financial mess was certainly not due to the policies of our present Government. Indeed many of these bankers are supporters and donors to the Conservative Party.
Susan Thomas Magdalen Road Oxford
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