Labour to blame

Published on 07/07/2012 00:00

In response to Walter J Allan (Letters, 5 July), after a decade of punishing success with ever higher taxation and burdening business with red tape, the 
Labour government decided to reward failure by bailing out failed banks with money expropriated from successful businesses.

Not only that, but those companies that were deemed to have been too successful were threatened with further expropriation in the form of windfall taxes. This economic policy can be succinctly described as “basic 
idiocy”. As for the banking collapse, Labour played its part by engineering a credit-fuelled boom by means of having the central bank recklessly expand credit, leading to the inevitable bust. It therefore follows that both Gordon Brown and Alistair Darling have no credibility in matters of economics and any proposals
from them should be rejected.

Bruce Crichton

Victoria Road

Falkirk