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12:41pm Wednesday 2nd January 2013 in Salisbury Letters
SALISBURY MP John Glen is right in one respect at least – the Coalition certainly isn’t borrowing its way out of debt. (View from the Commons, December 27) But this incompetent and pitiless government has been forced to borrow more and more (£8.6billion in October compared with £5.9billion at the same time last year) not to invest in the country, but in a futile attempt to climb out of the economic hole it has dug for itself.
And its only claim to any kind of economic respectability is through the dodgy and desperate accounting wheeze of grabbing the £35billion in interest payments the Bank of England received on the £375billion of gilts bought since the start of its quantitative easing programme in early 2009.
DICK BELLRINGER, Salisbury