I AM an ordinary British citizen, who listens keenly to the news.

We are told that Britain is in financial crisis. This is partly because the nation gave £850bn to rescue the banks.

The taxpayer has to repay this money. But because it was freely given to the banks from the public purse, I am calling for the billions which the Government borrows from the Bank of England to be free of interest.

The money spent on the great institutions of state like the Armed Forces, the NHS, social services, the judiciary and Whitehall itself, all depend on money borrowed, at interest, from the Bank of England.

In 2009, the interest repayment was £35bn, similar to the defence budget. Public sector interest payments could be equivalent to the fourth highest-spending department, after social security, health and education.

The £850bn given to the banks will have an awful effect on Britain's taxpayer-funded institutions for years to come.

It will cause much distress, and will cost us all. Let us make an interest-free holiday a reality.

M R ARTWELL, Cranley Road, Barton, Oxford