A FRIEND of mine has recently had the misfortune to have been made redundant and was debating the use of his lump sum pay-out.

My first reaction was to advise cautious investment and consideration of his future needs, but, on reflection, advising him to spend, spend, spend might have been better.

Another friend who had lost his job through ill health had carefully invested his lump sum so that he could resist the temptation to fritter it away.

However, when his health improved and he applied for the Job Seeker's Allowance, he was told that, because of his prudent action in locking his money away from temptation, he was not entitled to any financial assistance.

So the message the Labour government seems to be giving out is: Live for today and don't bother saving for tomorrow.

G SMITH, Bold Street, Blackburn.

Converted for the new archive on 14 July 2000. Some images and formatting may have been lost in the conversion.