Letter: Financial mess a long term problem
Regarding "Care rather than politics" (Shropshire Star, March 27). I should explain that the financial mess left by Labour Governments in 1951, 1979 and 2010 was the cumulative debt incurred over several years and not the result of one mis-managed term of office.
Remember the note left by an outgoing Labour Treasury Minister for his Tory successor in 2010 – "there is no money left"
No government has any money of its own, only that generated by taxes of one kind or another, or by borrowing. Therefore, a government may only be caring and compassionate by using its income from taxpayers or by excessive borrowing.
Unfortunately, Labour often seems to choose the latter route to boost their spending. How can anyone run their household by continually spending more than their income?
Labour came to power in 1997 claiming that it had no need to raise taxes – and even promised not to increase the basic or top rate of income tax.
Instead, to fund Gordon Brown's ambitious plans for social engineering, the decision was made to raid pension funds to the tune of £5 billion a year – not very caring and compassionate to hardworking pensioners. In this venture, as in others such as selling our gold reserves, Mr Brown was abetted by Ed Balls, who now wishes to become Chancellor.
J W Simmons, Muxton
