Heresy?
Sir: If The Spectator can steel itself to read through an apparent heresy and then read on, I'd like to commence by saying that Tony Benn is on the right track; but with his left foot forward and pointing in the wrong direction. Were government to acquire a large and varied investment portfolio with an eye to profit as does any normal investor, all sorts of benefits could accrue to the country. With successful investment the Government might even find itself eventually in a position in which it could abolish taxation. Initially, unemployment would present a nasty problem in certain industries on the verge of collapse but the stimulation to the economy as a whole could be so great that these local problems would be outweighed by a general improvement in industrial health.
However, to accommodate this sytem our whole outlook towards politics would have to change. The candidate for political office would have to stump for so many shares in 'Such and Such Amalgamated' or in 'So and So Ltd,' with anticipated profits of so much to be spent on such and such a hospital, road improvements, etc. This rather mad idea occurred to me while reading Gerald Frost's '. . . and other lame ducks.'
0. Matthews 71 Cranbourne Road, Northwood Hills, Middx.
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