Readers' letters: Voodoo economics are no solution

The news that Liz Truss is lifting the cap on bankers’ bonuses is consistent with her belief that tax cuts alone will magically restore economic growth.

The Tories only have one answer to problems – tax cuts, deregulation and the market. The fact this voodoo economics has never delivered prosperity doesn’t interest them.

They have abdicated their responsibility as a government, which is to regulate market failures to protect the population, because they’ve been too busy lining their own pockets and those of their oligarch donors.

There is no better example of ruinous market failure than the so-called ‘energy market,’ run by private corporations for profit alone. It doesn’t function efficiently, doesn’t serve the interests of people and business, and has failed to invest in renewable energy and technology.

The UK stands alone amongst European states in having sold off its energy assets and it did so in the service of a failed ideology. It’s why even though the prices of wholesale gas and electricity are the cheapest since 2010, energy bills have soared 85 per cent since March. It’s pure profiteering.

We’re living through the death throes of neoliberalism, an economic ideology indifferent to human suffering. Scotland’s opportunity is to build a state that prioritises its citizens’ welfare, by taking back control of its resources and establishing and enforcing regulations to save and enhance lives.

Leah Gunn Barrett, Edinburgh.

Defence spending

New Prime Minister Liz Truss seems very keen on significant increases in defence spending.Recent research by the Royal United Services Institute on promises made by Truss during her leadership campaign show that her defence spending plans will cost an eye watering £157bn.The Prime Minister needs to explain where she is going to find this colossal amount .Truss is on record as saying she does not believe in handouts, but she seems happy to give a massive handout to military generals and to help boost the profits of arms dealers.People worrying about their energy, housing and food costs will not have their life made easier by money being spent on aircraft carriers and nuclear weapons.It seems that this country urgently needs a change in direction away from massive military spending.Now seems the time to move in the direction of allocating serious resources to help people through the current cost of living crisis.

Arthur West, Scottish Peace Network

Energy crisis

The present energy crisis resulting in huge increases in our gas and electricity has revealed that very few people realised that their bills included green taxes.

Some time ago my supplier SSE showed a pie chart showing "The costs that make up energy bills". Part of the chart showed "Government environmental and social schemes 12 per cent".

However, that was removed about a year ago. As from 1 October 2022 the average energy bill for a three-bedroom house will be £2500 so green taxes would be £300 and then VAT of 5 per cent is added.

The question must be asked whether the government ordered the energy companies to remove this pie chart and keep us in the dark.

Clark Cross, Linlithgow.

Queen’s Park

When King George VI died King’s Park beside Holyrood was renamed Queen’s Park on the succession of the late Queen. I wonder if it will now be renamed King’s Park again.

Donald Lewis, Gifford.

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