A modest payback

Madam, – As we, the taxpayers – not the State, receive the final bill for paying for the profligacy of the banks, may I make…

Madam, – As we, the taxpayers – not the State, receive the final bill for paying for the profligacy of the banks, may I make a suggestion on how the money is paid back? When bad banks are wound up, bailouts paid back (directly or indirectly) or good banks are sold off (as is the plan), rather than returning the money to the central exchequer – where it will be spent on such useful schemes such as HSE slush funds and Fás – why not return the taxpayers’ share directly to the taxpayer in the form of a payment?

This could appear on individuals’ payslips, or as a bonus social welfare payment, as “Nama repayment: thank you”.

Not only would this be highly democratic in showing that we would be getting back the money that we have lent the banks, but it would help to stimulate the economy as funds would be returned to the source to spend as the individual wishes.

If the Government can work out how much it can take off each individual – as it will in the next budget – surely it can work out how much then it should return? – Yours, etc,

RORY J WHELAN, BA Econ,

Roschoill,

Drogheda,

Co Louth.