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Letter: Local people's views are what is important - 05/02/10
I know many people don't like local politicians using the ET letters page to slag each other off. It is probably more important that we use it to find out more about what local people think about important issues.
I know many people don't like local politicians using the ET letters page to slag each other off. It is probably more important that we use it to find out more about what local people think about important issues.But I thought I should respond briefly to the recent letters about the recession from MP Stewart Jackson and Labour hopeful Ed Murphy.
Stewart is not a bad constituency MP but his memory seems to be failing him on the economics front. Yes, the Labour Government did allow massive speculation and casino banking by financial institutions to plunge us into the deepest recession for 100 years. But it is bit rich Stewart and Mr Cameron are now calling for better regulation of the banks because, up to the start of the financial crisis, they were calling for less (not more) regulation of financial markets. If their policy had been implemented the recession could well have been even longer.
There was one man who warned about massively escalating consumer debt and that companies, banks and individuals were spending money they would be unable to repay. That man was Liberal Democrat Shadow Chancellor, Vince Cable, and regretfully his warnings have been proved to be all too accurate.
It is also a bit rich Stewart lecturing the Government about borrowing excessive amounts of money, as he need look no further than Peterborough Town Hall to see a Conservative controlled council which is doing precisely the same thing. Official budget papers show that by 2011, the council will have an annual borrowing requirement of 60 million and that will cost over 5 million each year in interest and capital repayments - equivalent to a whopping eight per cent increase in Council Tax.
Other ET readers responding to the letters have rightly pointed out Labour's abysmal record in tackling poverty and the way they have become more authoritarian as their time in office has passed. But would less well off people be better off under a Tory government? I think not. We must not forget the Thatcher and Major eras: two economic recessions, three million unemployed, schools sacking teachers and a chronically under-funded health service.
We should not live in the past. But we should not forget to learn lessons from it either.
Nick Sandford
Liberal Democrat Parliamentary Candidate for Peterborough
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Thursday 24 May 2012
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