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Bankers take foolish risks

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Thursday, March 07, 2013
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North Devon Journal

MIKE Rath, in the letters page on February 21, is quite right to point out the hidden agenda that the Conservatives and UKIP have ("Ideals don't always work")..

They talk about reducing waste and greater efficiency in the welfare system but their real aim is to shrink public services, like the NHS.

It is a sad fact so many national newspapers, with their prejudiced reporting, try to turn ordinary people against each other by ridiculous scare stories.

If you believed everything you read in the Daily Mail, Express, Telegraph or Sun you would think that all foreigners are bogus asylum seekers.

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You would think that all benefit claimants are scroungers and shirkers. We believe the British people, in the main, are too tolerant and sensible to fall for this nonsense.

In fact, most immigrants in Britain are students who pay us good money to study here temporarily and then go back to their home countries. And most benefit claimants are people who are working but their pay is so low that the state has to subsidise them with tax credits to keep them above the breadline.

Yes, there is benefit fraud, and it needs to be minimised. It leads to a loss to taxpayers of about £1.2 billion per year. But tax evasion and avoidance by rich companies and individuals leads to a loss of about £120 billion per year – one hundred times as much. You would think that this is what governments need to focus on.

Conservative newspapers are trying to hide an important fact. They want us to believe that the economy is in a mess because there are too many benefit scroungers and too many immigrants.

In fact, the economy is in a mess because too many millionaire bankers took foolish risks with other people's money and we, the taxpayers, had to bail them out.

TOBY AND PAM EBERT,

Ilfracombe.

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  • Profile image for debonbred

    by debonbred

    Sunday, March 10 2013, 7:18PM

    “Toby and Pam Erbet should be thankful that they live in Ilfracombe which has thankfully mostly avoided the affects of mass immigration supported and enabled by the Labour party. If they lived in London or in fact most of the country nowadays they would find it difficult to find an English native.

    If they think that mass immigration is great I say to them why is there mass migration of the natives English away from the country and how can they be willing to back a party (Labour) that wilfully destroys our heritage and way of life and enforces a police state that has in effect taken away our free speech.”

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