THE current government’s insistence on the use of austerity to correct the universal financial crisis caused by the mismanaged banks in the past has been the source of much hand wringing and head scratching for some time.

It seems to me that the wealthy have been more or less immune from these problems which have largely fallen on those least able to deal with them.

Surely the answer is staring us in the face, particularly as far as the problems that local government are wrestling with namely education and social care.

A reassessment of property values for council tax purposes is long overdue.

Currently the highest tax band is Band H, which was set in April 1991 for properties at that time worth more than £320,000.

Now there are scores of properties in Poole worth well over £2,000,000 and they will be paying the same rate as people in a property worth a lot less than this.

It is time for a revaluation of properties and a hefty increase in the number of tax bands, say an additional 10, to cover all properties up to and including those worth in excess of £20,000,000.

This would give local councils enough income to fully support social care and education without the need for more cash from the Treasury.

I know that the political parties will find it difficult to sell this idea to their wealthy supporters, but common sense tells that a national revaluation must come as we have not had one for 26 years.

PETER TAYLOR

Conifer Avenue, Poole