I REMEMBER an episode in Coronation Street where the character Des Barnes stated that "loans are thrown at anybody nowadays".

Since the character was killed off five years ago, things are now much worse.

The too-easy availability of loans has obviously created the unwanted house price inflation, where the only winners are the estate agents and the already vociferous developers.

This situation has had an adverse effect on the cost of manufacturing, making it uneconomic in certain parts of the country. A worker in manufacturing has to compete with workers in China, the Far East and Eastern Europe, where wage rates are lower.

Can anyone tell me how house prices can go up 25 per cent a year without affecting the inflation rate? The Government seem to be concerned about service workers to the extent of subsidising their housing, but don't care at all about the people who generate the money to make the economy work. There are lots of workers who get less than half the average wage; the real heroes of this country.

The low interest rates at the moment are punishing savers and pension funds. This allows industry and individuals to run up huge debts and fuels property price inflation. If industry needs interest rates this low, there is something wrong with the management or the way the country is run. How right Des Barnes was!

B Howarth

Alexandria Drive

Westhoughton