MUCH has been made in the press last week of the financial debt left by the former Strathclyde Regional Council. The independent auditors issued a second report dealing with the final financial period of Monklands District Council. This report indicated that ''There were so many missing documents that it was impossible to indicate the exact debt left behind, while details of hundreds of people who owed money had been lost. There appears to have been a breakdown in budgetary control in the last few months''.

The Labour Party response to this incredible state of affairs was that it was all in the past and it is the future which matters. The financial implications for the council tax payers of the present North Lanarkshire Council area cannot be ignored. The persons responsible for this state of affairs - whether they be councillors or officials - must be called to account for the #3.4m deficit, particularly as they may still be holding positions of authority in current administrations.

In 1972, a Public Inquiry was held after Labour reduced council-house rents weeks before an election, and subsequently regained control of the Coatbridge Burgh Council. This present situation is much more serious. The public must not allow these matters to be swept under the carpet. A full Public Inquiry is essential in order that the truth may be exposed.

Gordon M Lind,

25 Irvine Crescent, Coatbridge.

May 1.