What Titanic logic
CHARLES RUSHTON’S support of austerity is analogous to the captain of the Titanic deliberately seeking out an iceberg (Letters, December 24).
What economic sense does it make to remove money from the economy at a time of mass unemployment and economic stagnation?
There’s no need for austerity, as evidently the UK is extremely wealthy. National wealth is £7 trillion as opposed to a combined deficit and national debt of about £1.4 trillion, which has grown under Tory austerity.
These figures do not include the UK’s share of offshore accounts estimated at £20 trillion globally for all nations.
The UK property market has £4 trillion locked into it affecting disposable cash. The over-charging of tenants further constricts disposable income.
Defective UK housing policy requires huge welfare payments exacerbating the north/south divide with mass unemployment and homelessness.
We should stimulate our economy with intelligent policies to unlock cash from property, reduce high rents, build millions more homes and properly tax offshore accounts.
Robbing the poor to pay the rich is not justifiable or sensible, Mr Rushton. It’s dumb.
Tom Scaife, Manor Drive, York.
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