Last updated 19:49, Thursday, 09 October 2008

TIMES are tough, as workers at Alcan and MFI in Workington know too well while uncertainty hangs over their jobs.

Even Workington Reds players are not immuneto the financial blast sweeping the land, from the financial blast sweeping across the land, saying they’re ready to take a pay cut to help out the club.

The Government’s response has been to place £50bn of our hard-earned taxpayers’ money on the line.

This rescue package for the banking sector, alongside a cut in the interest rate, will certainly help to restore some business confidence.

But whether ordinary working people will see an immediate benefit is another matter.

Nobody is out of the woods yet; hefty gas and electricity bills will send shivers down many a spine over the coming weeks.

There has been much hand-wringing about whether the state should intervene in the markets on such a scale, but a system that has floundered because of irresponsible behaviour must be better controlled and made more accountable; there must be checks to ensure this bail-out money isn’t now wasted.

And with so many savers fearing for the future, we’d urge stronger deposit protection.

We’d also argue for a windfall tax on the energy sector combined, if necessary, with price controls.

It’s the ordinary man on the street who needs to be rescued at this difficult time, and with his money now firmly on the line the Government mustn’t forget it.