Letter: High interest rates, as an economic tool, cost the poor the most

London SE27

THE GROWING acceptance that the use of the interest rate as the chief economic weapon is dangerously flawed must be welcomed. The real tragedy is that it has taken so long for many to accept that the use of a tool which is at least amoral (putting the economy right by making the poor poorer and the rich richer) was never right. Governments should realise that one of their prime responsibilities is to protect the poor and defenceless. Passing policy to lobbies such as banks misunderstands this.

FDL Selkirk

Broseley, Shropshire