Income cut for pensioners is price worth paying to save economy says Lib Dem candidate

PENSIONERS and others in West Somerset who had managed to put away money in savings would have to suffer a loss of income for the greater good of the country, the district’s Lib Dem Parliamentary candidate said today.
Theo Butt Philip (pictured) was speaking after yesterday’s Bank of England Monetary Policy Committee’s decision to cut interest rates to a record low of one per cent.
Mr Butt Philip, who lives in Wells, said: “The bank was right to cut interest rates.
“It is a desperate, but necessary, measure.
“The current economic situation is a very difficult one, and this cut will not help savers.
“However, for the sake of the economy as a whole, it is imperative that we get people spending again.
“The interest rate cut alone will not be enough to see us through these difficult times.
“The Government must do everything it can to increase the flow of credit.
“That means temporarily nationalising those banks which are already majority owned by the taxpayer and directing them to increase lending.
“Furthermore, the Government should bring forward investment in capital programmes and in projects to protect the environment.
“By building more social housing, insulating our current housing stock, and investing in railways, the Government could create jobs, stimulate the economy, and create assets which will be of real long-term value to the country.”

New woman takes the helm for constituency's Lib Dems

FORMER Sedgemoor district councillor Marilyn Wallace (pictured) has taken over as chairman of Bridgwater and West Somerset constituency Liberal Democrats.
Mrs Wallace succeeds Janice Beasley, who lives in Cannington and who had been chairman for the past three years.
She was elected at the branch’s annual meeting of Bridgwater and West Somerset LibDems held in Nether Stowey.
Mrs Wallace, who lives in Chedzoy, said: “This will be an exciting and busy year as there will be both county council and European elections.
“We must also be prepared for a General Election when it comes.
“I am looking forward to working with our Parliamentary candidate Theo Butt Philip, our members, and supporters, and hope to encourage new people to join us in our social and campaigning events.”
Mr Butt Philip said: “Marilyn has been involved in the Lib Dems locally for many years as both an activist and a district councillor.
“Her experience will be invaluable.
“I would also like to pay tribute to Janice Beasley for the sterling work she has done as chairman for the last year.
“She has been a great source of strength and support to me and to the whole of the Bridgwater and West Somerset Liberal Democrats.”