SIR – Letter writer H E Powe hit the nail on the head ‘Let’s not make the same mistakes again’ (Worcester News, August 6).

Our bankers went bust because of their lust for ever bigger bonuses.

We’re now paying for their mistakes. Our MPs have conspired to allow the banks to ‘rob’ us of proper interest rates on our savings.

We are also being taken to the cleaners on bank interest rates with 30 per cent-plus on credit cards, store cards and the like, together with interest rates in the thousands per cent for pay day loans.

Meanwhile, our politicians have been begging us to spend our savings in the high street to prevent stores going bankrupt.

We are very near the point where there aren’t sufficient wages in our economy to provide commerce with its profits and government with its taxes.

And to make matters worse, not only are our people being replaced by cheaper immigrant labour, they are also being replaced by smart machines, computers and voice recognition systems.

The only problem is that machines don’t spent money.

That ultimately dooms the entire global market economy.

If people are not paid wages, or those wages are constantly being shrunk, government cannot raise all its taxes, and commerce’s profits diminish, but don’t expect our MPs to listen.

Many of them have never done a proper job or had to live on the wages we common folk earn to support our families.

N TAYLOR

Worcester