WE are fortunate to have Gordon Brown as our Prime Minister in these difficult financial times because he expertly understands that the way out of a depression is to borrow and to spend.
This may sound daft, but is not.
When in a hole stop digging. Get out of the hole first of all and that is exactly what borrowing and spending will do in the short term. In the long term we will no doubt pay off our debt by an increase in taxes but remember the long term may be very far away and as Lord Keynes once said: “In the long run we are all dead.”
Such measures as cutting council tax as proposed by the Conservatives would only make our depression worse. Why? Because such a cut would also result in a cut in local services making our depression all the more depressed.
JIM DAVIES Buller Street Swindon
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