YP Letters: Poverty debate exposes our ‘banana republic’

Debt is still a major issue in the UK.
Debt is still a major issue in the UK.
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From: John G Davies, Alma Terrace, East Morton.

Your comment on “Poverty Posers” and impoverished youngsters, continues to promote the myth that “Britain is still spending far beyond its means”, thereby implying that we cannot really afford to support them.

The actions of the Thatcher governments brought about an era of dodgy “Financial Products”, the worst of which was PPI.

It also created easy credit, with banks encouraging people to borrow money hand over fist; people who ultimately had a snowball’s chance in hell of paying off that debt.

The banks packaged these debts and sold the “products” on, effectively turning the private debts into public ones.

This let the bankers off the hook.

The poor were having to pay for the avarice and stupidity of the rich.

On top of that we have a system that encourages tax avoidance and we have a Conservative Government promising, or should that really be “threatening” to lower taxes.

How are they going to pay for essential infrastructure, be it physical or social, out of a reduced tax intake?

If we are paying peanuts in taxes, we are going to get banana republic-type services.