SIR – While I agree with David Austin that it’s wrong for banks to speculate on food prices (T&A July 8), this is just small fry for the banking cartels which must now be among the world’s biggest ‘criminal’ businesses where money laundering and other illegal practices are just business as usual.

Possibly more scandalous is our old political parties’ funding of these corrupt businesses through the route of banker bailouts. It’s simply wealth transfer from the people to the private business/bankers.

If you still believe anything you see in the mainstream media, you might think we can’t afford the banks to fail, but they are just a business, should we bail out all failing business? UKIP would never bail out private banks, we would look to the example of Iceland, who prosecuted the corrupt bankers and instead of bailing out banks bailed out the depositors.

Jason Smith, UKIP Bradford chairman, Woodlands Avenue, Queensbury, Bradford