Whilst I agreed with every word Donald Trelford wrote in his excellent piece (MDB July 5th), there was one point he failed to mention which, I believe, exposes something rather ugly about the policies of David Cameron and his government. Mr Cameron by making his insistence on limiting the Libor scandal to a parliamentary rather than a judicial inquiry, because he has said speed is essential, has ensured that the true depth of the scandal will be glossed over. But there is another serious financial scandal which has also been exposed and not mentioned by Mr Trelford - and it is one which Cameron appears to be intent on burying beneath the headline catching Libor villainy.

I refer to the revelation of a legal tax loophole which allows multi-millionaires to either avoid paying income tax at all, or paying just two and a half per cent of their declared income, rather than the 40% which the less well-off are required to pay. As more than half of the Conservative front bench (including David Cameron), is comprised of extremely rich people, there is a high probability that many, if not all of them will be availing themselves of this legal loophole. When asked about it, Cameron said it was deeply immoral and it should be stopped; but, (and I paraphrase), “We must take our time to consider the problem and proceed very slowly and carefully” No suggestion of a speedy resolution here! So, by forcing the parliamentary route rather than the judicial one on the Libor disgrace, thus almost certainly guaranteeing that much of the financial terrorism in the City will be glossed over: and by virtually ignoring the loophole allowing the wealthy to keep almost all of their money, whilst robbing the poor to cover the costs for the plundering of our finances, multi-millionaire David Cameron is proving himself to be a first-class Prime Minister - providing you are very rich or a city sharpshooter.

As for the rest of us? Well, millions unemployed and over a million children going to school hungry because their parents cannot afford to give them more than one meal a day, says it all. David Lee, Palma


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