I READ with interest Mr John Denham’s recent “In my view’’ article in the Daily Echo, in which he fully supported the current Government’s plans to borrow billions to cut taxes and embark on another public sector spending spree. At the Labour Party Conference in 1976 the then Labour Prime Minister James Callaghan said, “We used to think that you could spend your way out of recession and increase unemployment by cutting taxes and boosting Government spending. I tell you in all candour that that option no longer exists’’.
As Mr Denham will know, Mr Callaghan’s views were formed following the failure of this policy which had been practised in the 1970s with dire economic consequences for the British economy and people.
Why has the Labour party not taken note of its past failures, and why does Mr Denham feel so comfortable wholeheartedly supporting a policy that has been proven by bitter experience to have damaging long term consequences for the UK economy?
MATTHEW CHAISSE, Southampton.
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