Letter: Royal yacht costs less than Clinton

Sir: So we're buying a boat! At pounds 60m to build, plus millions in running costs, it will apparently be good for jobs, create a source of national pride and have many spin-off benefits (report, 23 January).

Cutting nearly half a billion pounds from government spending on housing in the last budget was "sound financial management". I thought that a better housed nation was a healthier and more secure one. Perhaps I'm missing something.

BILL PAYNE

Chartered Institute of Housing

Coventry