TRADE union leaders say that their members didn’t cause the near collapse of the banks so they shouldn’t have to accept job losses and cuts in wages in order to prevent a double-dip recession.

They should remember that banks, not the unions, created Britain’s longest period of continuous expansion and low inflation. It started in 2000 and ended with the failure of Northern Rock, Royal Bank of Scotland, Lloyds-TSB and the investment banks.

During the boom, sales of cars, computers, iPods, flat-screen TVs and expensive holidays had been at record levels along with huge increases in the value of our houses.

Trade union members benefited from this boom even though it was not of their making. It was the result of the bankers taking risks, making huge profits and paying high taxes, which persuaded the Government to increase public expenditure to record levels.

The boom turned into bust two years ago and the Government had to bail out the banks to prevent the worst economic collapse since the Thirties.

Public expenditure simply has to be reduced and a long period of austerity is inevitable.

Trade union members, and all the rest of us, benefited from the boom which we did not create.

Now the unions, and all the rest of us, will have to tighten our belts to make sure we recover from the bust that we did not cause.

Jim Allan, Hartlepool.

THE deficit in the national finances has to be removed. It will not be easy, but it can be achieved over the life of a Parliament.

It would be a good idea for the parties to try to do it in collaboration rather than in a spirit of apportioning blame.

The banks should repay the amounts they received to keep them going as soon as possible.

I was encouraged by what the Governor of the Bank of England said to the trade unions.

He made it plain that none of the problems were their fault and they had a right to be angry.

Then he offered good counsel that they be prepared to discuss with Government what now needs to be done.

Since I am convinced that we should think carefully before we act, it is clear that an angry campaign against the Government is not going to change what it decides to do. I am sure that a better approach should be adopted.

If arguments presenting a better way are used there is a better chance for progress to be made. There is no mileage in confrontation.

If everyone keeps their heads and think primarily of the public interest, it will do much to restore the faith of voters in the politicians we have.

Geoffrey Bulmer, Billingham.