Green credit is given where due: Letter

So far, governments have decided that it is welfare spending that must suffer in the race to the euro. Exploring new avenues for raising much- needed public revenues has been a road less travelled.

The time is now ripe for finding ways to levy taxes from activities that damage the public good - pollution and speculation are obvious candidates - to ensure that the single currency is introduced in a way that preserves the welfare state at a time of increasing poverty and social insecurity.

NICK ROBINS

London SW11