Letter: Labour in denial over cash crisis

Letter: The Labour Government's pre-Budget report is a statement which is to let the country know what they intend to do to correct the financial crisis they allowed to happen.

It gives the impression they are still in denial.

An example would be of the main bread-winner losing their job, coming home and announcing it to the family and saying "do not worry, carry on spending. I know we have no money, but someone will pay it back in the future".

It does not matter what you do to earn a living, the principle is the same. I was born and bred on a farm. Like any other business, all day-to-day running of the farm was done to meet future demands.

Any Government that fails in its duty to balance the books is failing the country, by being in denial you only add to the problem.

You could look at the taxation of the country like a farmer reaping his harvest to feed his animals through the winter having 20 per-cent less than he needs he is left with three choices: sell some stock, buy more food in or ration the food to last the winter.

Not with this Government; they print more money! They are making grand statements about being fair and spreading the burden, I fail to see any evidence of this. It must be the only Government to have robbed senior citizens of so much of their income.

The Chancellor proposes a "bonus tax" that is not worth the paper it is written on.

Gordon Brown created a false housing market and now he is trying to create another one with 0.5 per cent interest rates. We are being brain-washed into thinking a rise in housing prices is a good thing. Since when has inflation been good for the country?

I have always been against high interest rates but the balance now is the wrong way.

Peter W Breeze

Wellington