Letters to the Editor - 26/11 - Lobbying airports, State banking, Best of Twitter

Lobbying airports

[Re: Why low cost carriers and hub buster planes make Gatwick the UK’s future, yesterday]

The main problem with Stewart Wingate’s argument is his approach to state planning: “Out to the 2040s, there is only enough demand for one new runway.” But in the case of London’s airports, there is no good reason why Gatwick and Stansted can’t both have a second runway, while Heathrow gets an extra two runways. The owners of each airport would have to balance their future increased income against the expansion cost, rather than the current approach of lobbying so that their airport wins all the future income.

Name withheld


State banking

[Re: UK recovery is built on a debt bubble that cannot last – it’s time for change, Wednesday]

Establishing a bank backed by public sector pensions is not the answer to funding small businesses. Banks should sink or swim, and should not be bankrolled by taxpayers or their pensions. A far better way of assisting the small business sector is through cutting corporation and capital gains tax, or perhaps even by offering them a VAT holiday. In short, we need a more free and less regulated small business sector to lead our economic recovery, not yet another state-backed banking institution.

Stephen Sartain Harrison



Producer prices in Spain in October fell by 0.6 per cent, meaning the annual rate is now -0.2 per cent.

As details come in, the Iran deal looks truly historic, a great achievement.

Forward rates suggest Fed tightening – whenever it happens – will be more gradual than past episodes.

There have been 69 IPOs in 2013, valued at £17.3bn. Last year, value of IPOs was £2.8bn. Great progress.