Economists claim that lowering interest rates stimulates the economy, but for every dollar paid in interest another person or business receives a dollar in interest. It is a circular transaction totally within the economy, neither growing nor shrinking productive output. Interest is a transfer payment from net borrowers to net lenders with the banks taking their margin (plus fees).

A good deal will always proceed irrespective of the level of interest rates. For most businesses, interest is one of their smaller costs compared with wages and salaries, energy, raw materials or stock purchases. Economists argue that lower rates stimulate investment and help to grow the economy. Wrong.

The interest component of building a new hotel or LNG plant or hairdressing salon is a quite small part of the total cost of that investment. Even doubling interest charges will not have a significant impact on the total project cost. The focus on interest rates is plain bullshit.

It is not clear that lower rates stimulate retail spending. My capacity to spend has been severely reduced by low rates. We have had to defer holidays, car and TV replacements and they are now dependent on me working. The single biggest beneficiary of low rates is the government. Low interest rates means they can borrow in big volumes and face only a small debt-servicing cost. Because they can service their debt, they retain their prized credit rating. Low interest rates help to make the most crap government look OK.

So we get back to the RBA or Robbers, Bastards and Assholes. They are the running dogs of the Federal Treasury, and committed to making sure that servicing public debt is as painless as possible for their masters.

And they continue to destroy the lives of many investors, retirees and others.

Geoff LeCouteur, Dunlop

It seems to me that John Madelly (Letters, August 24) is confused about the role of a democratically elected parliament and our part in its election. Doubtless, John exercised his rights at the recent election to vote for one candidate to represent him in Fenner and for two senators to represent the ACT. Here down south I did exactly the same for the electorate of Canberra and for two senators.

With the declaration of the election results, there's no more voting for us until the next election. A change in the definition of marriage can only be brought about by Parliament amending the (Commonwealth) Marriage Act.

In order to influence the votes of members and senators on that matter (or any other matter), John, you are entitled to lobby them, either off your own bat or as part of a group.

Paul E. Bowler, Holder

I apologise to Dave Richards (Letters, August 26) for having seemed dismissive about the French memorial to the Indochina war, compared with the Vietnam war memorial we have on Anzac Parade.

I should have made clear that it's not about size, but location. Ours, I think inappropriately (and it's not the only one) is on the most important symbolic axis in our capital city; theirs far from Paris, near a naval base on the Mediterranean. We could have followed that example and built our memorial at Puckapunyal or somewhere. Anyway we didn't, and I think that has created an unnecessary problem.

Bernard Davis, O'Connor

In support of his claim that it was the Palestinians who were responsible for the failure of the Israeli/Palestinian peace negotiations of two years ago, Alan Shroot (Letters, August 24) quoted the US envoy to those negotiations, Martin Indyk, as stating that Israeli Prime Minister Netanyahu had "moved into the zone of a possible agreement" and was "sweating bullets to find a way to reach an agreement", but that Mahmoud Abbas had "shut down".

An article by Colin Rubenstein of the Australia/Israel and Jewish Affairs Council published in The Jakarta Post on August 19 making the same claim also relied on those same three quotations, and only those three. Both Shroot and Rubenstein have been highly selective in quoting from the reasons advanced by Martin Indyk for the failure of the negotiations.

As to why Abbas "shut down", on May 8, 2014, Indyk stated that the main reason was that Abbas had been "humiliated by false Israeli claims that he had agreed to increased settlement activity in return for the release of [Palestinian] prisoners".

Far from blaming only the Palestinians for the failure of the negotiations, Indyk considered both sides were to blame: "We have spoken publicly about unhelpful Israeli steps that combined to undermine the negotiations. But it is important to be clear: We view steps the Palestinians took during the negotiations as unhelpful too."

Justin McCarthy, Chapman

When I saw Scott Morrison's comments about taxation I was immediately reminded of the recent SBS program on Louis XIV. He and his succession of finance ministers were unable to persuade the rich of France to pay any, let alone their fair share, of taxation, inevitably leading towards the Revolution.

I say to Mr Morrison, what about a finance services tax (tax on share transactions), the reintroduction of death duties (say 5 per cent), a super profits bank tax, a wind-back of negative gearing over 10 years, a wind-back of the superannuation concessions over 10 years, and a doubling of the number of investigation officers in the Taxation department.

And if the Coalition wants to decease the spending side, halve the numbers of submarines and strike aircraft we are buying or double the time over which these will be introduced, and cease concessions to the coal mining industry. None of these are new — why does Morrison not talk about them?

R. Howland, Bonython

I don't know what's worst about the cancellation of the Australia Day concert so entertainingly described by The Canberra Times last week. Is it the pathetic wimpishness after a bit of bad weather in one particular year (we're not in Cherrapunji!), the timorous resort to that most nebulous but insidious of catch-all nanny state fall-backs – public safety – the retreat into an exclusive and anti-democratic but oh-so-sober elites-only jamboree behind locked doors, the implied insult to Canberra and the people of Canberra it entails, or just the sheer arrogant bureaucratic gormlessness of it?

Sometimes I ask myself if Adam Giles, that shameless spruiker for an already heavily subsidised outpost, is right in his brazen inference: what is the point of Canberra? Then I remember the answer: what if Sydney were the capital of Australia. Oh, the horror, the horror!

David Jenkins, Casey

Your article about carers in the ACT ("Chantelle just 17 and looking after mum", August 25, p1) is a positive step towards recognition of their role in our community. Any strategy to support carers should focus on improving the quality of mental health services available in the ACT.

The stress, frustration and stigma that carers face daily are directly related to the lack of quality programs for our loved ones living with mental illness. If appropriate comprehensive services including therapy, housing, jobs, social inclusion, crisis management, follow up and a team approach that included family members were available in the ACT, our roles as carers would be greatly enhanced.

The University of the Third Age mental health forum is a voluntary advocacy group to support people with mental illness and their carers. Most of our members are caring for young adults. The U3A forum has contacted the major political parties seeking responses to six questions on mental health in the context of the 2016 ACT election.

Issues in our questionnaire include the proposed closure of Brian Hennessy House, the only residential care facility in the ACT for people with enduring mental illness, establishing a Mental Health Commission for the ACT, suicide prevention, and accommodation and support for people living with long-term persistent mental illness.

All ACT politicians should place the reform of mental health services as one of the key issues facing thousands of families in our community. Reform of mental health services to provide quality, comprehensive programs would be the best possible support for carers facing the daily around the clock challenge of caring for their family members.

Pamela Collett, convenor, U3A mental health forum

Why has our Queen Elizabeth II of Australia (age 90 and still working), her husband Prince Philip (age 95), her late Queen Mother (died age 101) and her Son, Prince Charles (age 67) had such good health and longevity? Could it be because the Royal Physician, Dr Peter Fisher, is a world famous homeopath? The royal history (George V, George VI, King Edward VIII, etc) is replete with a continuing devotion to the efficacy of homeopathy, which even extends to Her Majesty's corgis! The Royals seem to think that it is component of an integrated health care. What might they know that Jenna Price ("How the federal government funds fakes", Comment, August 23, p19) doesn't?

Cathal O'Foghlu, Queanbeyan East, NSW

There is going to be more congestion on Northbourne Avenue with or without light rail (Letters, August 22). Statistical predictions suggest an ACT population of about 500,000 to 530,000 by between 2030 and 2043.

Indications are that there will be more congestion along the Barton Highway-Northbourne Avenue axis. What is the anti-light rail solution to this issue? To add more congestion by increasing the number of buses in the traffic mix.

At present there are 40 buses scheduled at the Northbourne/Macarthur Avenues intersection in peak hour. More buses on this route without reducing capacity for other traffic can be achieved only by building a dedicated bus lane. There are two possibilities; either the proposed (by the Liberal Party) centre lane on Northbourne Avenue for 3.5km or new fourth lanes on each side of the roadway from the Barton Highway to Civic.

In either case, using standard infrastructure guidelines, one kilometre of the centre of Northbourne venue would be occupied by a road surface covering 12.3 metres in width added to the continuous lane. The replacement of trees for light rail pales into insignificance.

If as Dr Smith claims, light rail will require traffic signal phasing to delay cars, what difference will that be to putting more buses on the road? Barry Drive at the ANU has had extensive, costly reconstruction done to add a bus lane and to install phased traffic lights giving priority to buses at Kingsley Street and Clunies Ross Street, and McCaughey Street remains an insoluble bottleneck.

All of this work has shifted the congestion without solving the matter. If a bus lane of any kind is added to Northbourne Avenue, it can only function effectively in improving bus transit timing by use of priority phasing of traffic lights to favour buses at the expense of other traffic. And already many intersections on Northbourne Avenue use three-phase lights with turn-signals holding up through traffic.

Bus priority will not help with this. Traffic congestion is not going to ease, therefore we cannot continue a sterile debate over light rail vs bus. Each has its place in the public transport and general traffic mix now, and our aim should be to optimise that for the future.

Gerald Lynch, Hawker

WESTSIDE OUR FAVELLA

Westside — Canberra's own favella.

R. Smith, Scullin

MORE HUMANE DEATH

While I share Caroline Duggan's concerns (Letters, August 25) regarding quality milking cattle being sent to the abattoirs, unlike their northern cousins, at least they won't have to endure weeks in cramped conditions in a ship's hold, brutal treatment at their destination, and finally, have their throats cut while fully conscious.

J. Sever, Higgins

PLAN ON BUSES

Is there a secret plan to exclude future generations from buses? Ian Ruecroft (Letters, August 25) claims that "ACT voters have opportunity to provide public transport for future generations or commit more money for making changes to the existing bus network."

Leon Arundell, Downer

GREEN IS NEW BLACK

Greens leader Richard de Natale was described as "the black wiggle" after appearing in black in a photo shoot before the election.

His deputy, Scott Ludlum, wore black on ABC's The Drum on Thursday last.

Will we see other party members sporting these colours, perhaps with a touch of green?

Peter Baskett, Murrumbateman, NSW

PAYING TAX, OR NOT

When Scott Morrison talks about the "taxed nots" I assume he's referring to the multinational corporations, the churches, and the multi-millionaires that pay not tax.

Fred Pilcher, Kaleen

POLITICAL MOTIVATION

The sophistry of the Federal Police's rejection of political motivation on departmental computer server raids would set Pinocchio's nose aquiver ("Raids not political say police and govt", August 25, p6).

Politicians seem more dedicated to chasing whistleblowers than engaging in what they're paid to do, ie, correcting the disastrous "debt and deficit" they helped create.

Albert M. White, Queanbeyan, NSW

DESIGN DETAILS

The gold medal for sanctimoniousness is awarded to the Australian government for admonishing the French submarine firm, DCNS, against taking risks with the security of our chosen design's details.

Pity our internal security agency, ASIO, wasn't less careless with the blueprints of their new $1 billion Russell HQ, swiped online by a foreign government in 2013.

Alex Mattea, Kingston

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