SIR – Mike Foster MP is absolutely correct to write that “free markets, left entirely to their own devices, can and do fail – the cost is misery for millions”.
However, he tries to make out that only the Conservatives believe that free markets are the way forward. The truth is that New Labour has promoted the interests of the multinational corporations, privatised areas where Margaret Thatcher dared not go, and allowed social and economic inequality to continue growing.
Millions rightly blame the global rampage of the free market for the current economic crisis and don’t want to see more of the same.
Every ruling class is indulging in protectionism to try to shield itself and its interests as a national and international class from the ravages of the crisis.
We are seeing the rich and powerful both unite across borders and retreat behind them to protect their interests. This desire to protect their interests, rather than any altruistic desire to help someone else, lies behind any intervention in the economy. Mike Foster mentions a £145 tax cut for every basic rate taxpayer and an extra £60 for pensioners. What about the billions of pounds of taxpayers’ money that has been given to the banks? Let’s not let Mike Foster pull the wool over our eyes.
Luke Passey,
Worcester.
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