THE Chancellor has cut bank base rates by a quarter of a percentage point to 6.5 per cent. Mortgage rates are now at their lowest level for nearly 30 years.

The building societies responded by cutting their home loan rates. Mr Charles Tower, the managing director of Abbey National's retail division, said: "This will be a welcome Christmas present for new and existing mortgage customers and is good news for the housing market."

So we have a bit of seasonal cheer on the economic front which will be welcomed by everybody.

Well, almost everybody. Gordon Brown, the shadow chancellor, commented: "The cut in rates was a sign of economic weakness, not strength." Tell that to the customers who will now be paying less.

I'm getting fed up at the antics of the dour-faced Mr Brown who rejoices when there is bad news on the economic front and tries to pour scorn on any good news.

Mr Brown is more interested in playing party politics than seeing a prosperous and thriving Britain.

D PEARSON, Vice-Chairman, Blackburn Conservatives, Kendal Street, Blackburn.

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