Letter: In Brief

Sir: The regional economic imbalance (Business, 3 August) could be solved by establishing a new currency, the Northern pound, administered by its own central bank in Liverpool and setting its own interest rates. Northern excise could be established, too, leading to economic regeneration as Southerners make "booze-runs". Of course, the Northerners would declare their commitment to joining the pound when their economic conditions and business cycle had converged with that of the South and it was in their interests to do so.

JOHN S JONES

Lytham, Lancashire