Bankers at No 11

"Old Labour dogma" was swapped for "economic efficiency" (Inside track, 1 September), but the response to the looming recession is to hand taxpayers' money to the bankers who triggered the problems and who perpetuate them. Inflation for the less well-off is roughly 10 per cent, because most of our money goes on essentials whose prices have increased astronomically, and there is little sign of help for those of us affected in this way. Maintaining City mega-bonuses helps no one. It's a funny logic to tax the workers to reward reckless bankers but not tax the profiteers who are making squillions for our essentials. The policy is even more baffling if the idea is to avert recession.

Giving to the needy helps the economy as they are bound to spend it, but give to the well-off and it'll be stashed in an offshore tax haven. Do bankers have the keys to 11 Downing Street? They seem to have everything else.

Noel Hamel

Kingston, Surrey

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