CORRESPONDENT David Lacey implied that the recession was caused by Government spending (HAS, Oct 24). This is inaccurate. It was caused by the banking crisis – something the Financial Services Authority should have prevented.

Another correspondent, Colin Mortimer, says David Cameron has told the truth about the UK’s financial position (HAS, also Oct 24).

There is nobody in Parliament who doesn’t know that the UK’s debt has to be repaid. The crucial point is how it is repaid.

If the Tories come to power, Mr Cameron’s government would cause widespread hardship in aggressively repaying the debt, and he would then turn round and say: “I told you so.”

A Labour government would apply financial management to the task, resolving the debt more painlessly. This would not be easy and would require some skill of negotiation, but it can be done in better economic times.

In the previous recession, caused by the Conservative government and its yo-yo interest rates, I was made redundant with £20,000 negative equity on my mortgage. I had to move 300 miles to find another job and avoid repossession and the accompanying £20,000 debt; a few hundred thousand other people weren’t so lucky.

If the Conservatives come to power who will suffer the same fate this time?

Jeremy Whiting, Great Lumley, Co Durham.