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THERE are two kinds of debt. One is the huge debt from the Third World to the banks, and at last individuals, churches, and other organisations demand cancelling them by the year 2000 at the latest and learning the lesson that money without sensitive training and guidance can lead to corruption.

The other debt occurs within the UK on a daily basis: a job has been done, goods have been delivered, but payment is withheld, sometimes for months or years. We call it the Michael Heseltine Syndrome: pay as late as possible to accumulate interest. This has crippled companies and can ruin small businesses. I know several tradesmen who have to pay for an overdraft when in fact they would be in credit if all debts had been paid.

I grew up in Hamburg where a society called Pro Honore was founded to regulate the city voluntarily but effectively. Prompt payment became the rule and all citizens benefited. A good climate of honesty and fairness attracts investment, boosts employment, and eliminates stress. I hope Scotland may become that part of the UK where debts are paid within a week and not in 90 days as now.

Sibylle Alexander,

4 Langhaugh Gardens, Galashiels.

May 12.