Bonds of trust

IT IS not only pension funds that should be encouraged to buy bonds to fund capital projects (Perspective, 26 November). Couldn’t local authorities issue bonds to fund schemes such as, say, Aberdeen city’s controversial Union Terrace gardens?

Such projects are not “public goods” like roads, bridges, or schools but often need taxpayers’ money.

The public’s appetite for these schemes could be gauged from the uptake, like a “financial referendum”. If the public isn’t willing to put up the money, then perhaps these schemes should be shelved.

Alternatively, there could be some distribution of bonds between the public and institutions, like pension funds.

ELLIS THORPE

Old Chapel Walk

Inverurie, Aberdeenshire