Letter: What we're worth

Last week (Letters, 26 October) I suggested the coalition government's appraisal of the British economy left a lot to be desired. Unfortunately, Alan Black (Letters, 28 October) disagreed, and this has caused some mirth among my friends.

I'd therefore be grateful if you'd let me state for the record, a political party or indeed anyone else who believes that an organisation's financial position can be evaluated merely by looking at one side of its balance sheet only, ie its debt, national or otherwise is a financial ignoramus.

The true picture requires an appraisal of all aspects. No picture can be complete without full consideration of all assets and income earning potential. And with regard to UK plc, the report that GDP was actually growing, without him knowing, at the very moment the Chancellor was declaring us bankrupt exposed him as financially incompetent.

Yet he came up covered in roses from the media, and back slaps from his Lib Dem colleagues as if it were his measures which had brought about the growth.

Mad? Well someone is, but it most certainly isn't me!

ROBERT VEITCH

Paisley Drive

Edinburgh