Rights and wrongs
Sir: As one of those centre-left weirdos who reads your magazine to see what the other side is thinking, I was surprised by your assertions regarding Britain’s wrong economic turn (‘Labour’s inheritance’, 25 July). There is a reason why Britain’s economy has grown so slowly since 2008 and it is directly related to the financial crisis you mention in the same paragraph – the bailout for which was laid on the taxpayer, resulting in the austerity agenda, both of which significantly dragged on GDP. There was a cross-party faith that the financial system would regulate itself. The same thinking applied to Margaret Thatcher’s Right to Buy policy on council houses: buy your house and let the market sort the rest. We know this has not happened with sufficient volume or affordability.
If people are turning to Burnhamism, it’s because the right has failed to put enough guardrails on the opportunities it affords.
Mark PeacheySt Helens, Merseyside
How to spend it
