THE current economic climate fostered by the credit crunch continues to play havoc with jobs, services and savings, affecting not least the good people of Bury and the surrounding area. Clearly we are fortunate in witnessing the regeneration taking place in the town centre, though I have grave misgivings regarding the loss of a number of historic sites including the Hornby buildings.

Some people still blame Mrs Thatcher for our current problems but, after 12 years in power, the buck must stop firmly at the door of New Labour.

Tony Blair started the revolution in 1997, aided and abetted by his sidekick Gordon ‘goodbye to boom and bust’ Brown. Despite introducing many welcome measures, not least the minimum wage, Blair and Brown courted big business and were instrumental in saddling up to high finance and City cronies. A culture developed of quick profits based on debt and greed. Their efforts were amplified by greedy MPs of various political hues claiming everything from tampons to moat maintenance.

Despite or because of New Labour’s efforts the gap between rich and poor is now wider than ever.

The biggest scandal is surely British pensioners who are clearly the poor relations of Europe.

To top it all, Joe Public ploughs millions of pounds into failed institutions while bankers and speculative City sharks sail off into the sunset, fading away like the smile on the Cheshire cat.

Talking of which, has anyone seen Bury North MP Mr David Chaytor recently?

Peter Frankland Glenboro Avenue Bury