Letters to the Editor - 07/05 - Political failure, Pfizer-AstraZeneca, Best of Twitter

Political failure

[Re: We are stuck in a disastrous spiral of misplaced interventionism, Friday]

I couldn’t agree more with this diagnosis of political failure. But I think rising rent is largely a London problem. When I was younger, the idea was you bought a small two bed terrace and moved your way up the ladder. That’s impossible in London now, partly due to the high cost of moving thanks to stamp duty. And if by some miracle we do manage to build enough homes that people want, thereby reducing the cost of an average house in an area, what about the people who bought at the peak? It’s very depressing.

Victor Franks

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Pfizer-AstraZeneca

[Re: We will not apologise for defending British worldbeaters like AstraZeneca, yesterday]

I find Chuka Umunna’s attitude to the potential Pfizer-AstraZeneca tie-up troubling. While he denies being opposed to a foreign takeover per se, the implication is that we should be concerned about non-UK companies buying up Britain. In fact, we should be glad Pfizer is interested. First, capital will be sent to Britain. More importantly, the value of Pfizer-AstraZeneca to consumers wouldn’t be in the tax it paid, or the R&D it did in Britain, but in how successfully it provided the products we want – lifesaving pharmaceuticals.

Name withheld

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BEST OF TWITTER

Services figures suggest UK is in for another quarter of above trend growth and subdued inflation.

@EY_ITEMClub

UK economy powers ahead: April PMI 59.2; employment at record 55.9. Wake up Bank of England.

@rosaltmann

Labour crackdown on empty London homes is attractive politics, but seriously?

@ChristianJMay

The £15,000 pay hike for the new Ipsa boss shows the body to be painfully out of touch.

@isaby