SIR – B Davison (Letters, March 6) is obviously proud of his knowledge of “basic economics”, but, unfortunately, blows it by describing a national economy (that of the UK) as “maxing out” its credit card.

There is absolutely no similarity whatsoever between personal credit and the borrowings of a sovereign state.

Secondly, the myths that a bloated public sector and excessive spending under a Labour Government are the main cause of present austerity must be challenged.

Up to 2008 (when the banking crash began), Labour spent less in the public sector as a proportion of GDP (39 per cent) than the two preceding Tory Prime Ministers: Thatcher (41 per cent) and Major (40 per cent).

The fact that this kind of lie and distortion can get around so easily must be something to do with the fact that, today, national newspapers’ support is in the ratio Tory 80: Labour 20, whereas 50 years ago,it was 55:45.

It thus becomes entirely arguable that our wonderful “free” national press is, actually, a cancerous restraint on our democracy.

DAVID BARLOW Worcester