Murder is not a party game Sir: I do not
usually think it worth arguing with diehard party supporters. but I should nevertheless be interested to know on what grounds Mr Skeffington-Lodge (Letters. 3 January) considers that 'Our financial and economic position is stronger now than at any time since the war'. Our external liabilities are surely higher than at any time in history and the 'Very able Cabinet' has borrowed over £3.000 million and devalued the £ abroad (although not the £ in your pocket). In spite of borrowings our gold and dollar reserves are at roughly the same level that they have been for many years. Does your writer imply that the more we borrow, the more we devalue, the more we live above our income by spending capital (whether our own or other people's) then the better off we are? We are in surplus in the short term, but it would take a Cabinet of even higher calibre than the present one to create permanent deficits without occasional surplus periods.
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