From the Revd Paul
Nicolson
Sir, - In Who Runs this
Place, Anthony Sampson reflected in 2004 on the changes that
have taken place since 1965 (when he wrote The Anatomy of
Britain): "Most people of great wealth show a remarkable lack
of interest in using their money to improve the lives of others.
Above all, they feel much less need to account for their wealth,
whether to society, to governments or to God. Their attitudes and
values are not seriously challenged by politicians, by academics or
the media, who have become more dependent on them. The respect now
shown for wealth and money-making, rather than for professional
conduct and moral values, has been the most fundamental change in
Britain over four decades."
Since 2004, the people of
great wealth seem to have drifted even further away from
understanding or caring about the financial hardship of 20 per cent
of their relatively powerless fellow British citizens. An
unregulated free market in money-lending flooding a housing market
in short supply with easy money was a big factor in lifting house
and land prices. It evolved into the 2008 crisis and created the
Wonga problem.
High interest charged
against the already low incomes means massive bills against
inadequate incomes already hit by cuts and caps, and rent and
council-tax arrears. The problem of money-lending, which is wider
than, but includes, Wonga and other lenders, needs governmental
action, and cannot be solved by parishes' running credit
unions.
PAUL NICOLSON
Taxpayers Against Poverty
93 Campbell Road
London N17 0BF
From the Revd Larry
Wright
Sir, - As the Archbishop of
Canterbury has pointed out, credit unions are more ethical,
accountable, and economical, when compared with the likes of
Wonga.
As a member of our local
credit union - which had its first office in our church until
moving to the local shopping centre - I commend other advantages of
membership. Credit unions will open accounts for people unlikely to
be accepted by the main high-street banks; members may have their
benefits paid into their account; they provide free budgeting
advice, and regularly visit our local church school to encourage
families to save; and, over time, staff and members build up a
relationship that is mutually supportive.
In economically deprived
areas, such as ours, our credit union is a financial lifeline with
a human face.
LARRY WRIGHT
100 Bridge Street West
Birmingham B19 2YX