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Letter: Confidence trick by politicians
4:00pm Friday 13th July 2012 in Readers' letters
Jack Straw claimed (LT, July 5) “we’ve all been mesmerised by the alleged importance of the City of London”. What nonsense.
It was a relatively small number of politicians including Gordon Brown, Tony Blair, Peter Mandelson and Jack Straw, whilst presiding over heavy-handed legislation of trade unions, repeated to the point of tedium ‘light touch regulation on the city financiers’ in London, which was interpreted by the banks as ‘do what you like, you will have no problems from government’.
Unfortunately, the premier league deference to the rich and well-heeled shown by New Labour was the same to private financiers and contractors involved in building new public sector capital projects.
They agreed to hand over new buildings and pay private sector companies over several decades inflated repayments at colossal interest rates.
We were recently told that the total debt nationwide has risen to £300 billion with one NHS trust heading for administration and inevitably more to follow.
A massive confidence trick has been perpetrated on the British public with politicians posing in front of new buildings then disappearing when the true cost of their folly is revealed and important services are slashed to the bone.
Don Rishton, Blackburn.
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