What has Happened to the UK's Economy
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- Опубликовано: 6 фев 2024
- Britain used to be world most powerful economy. Even now its still in the top 10 largest globally. But the quality of life for the UK's citizens has been in decline for well over 2 decades. Once a highly developed nation and the forefront of the world, it has fallen off. Poverty levels are increasing a long with levels of homelessness. This has been brought about by years of poor governance and ineffective policy.
Is the nation doomed or can it be rescued?
The Report Mentioned - economy2030.resolutionfoundat...
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Our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.
People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.
Explore the option of engaging financial advisors, estate planners, or tax experts. Their specialized expertise can assist you in navigating intricate financial decisions.
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How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
Linda Aretha Reeves is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Refusal to build infrastructure to stimulate the economy is another factor
that was in the video
Keynesian politics?
refusing to build affordable homes killed productivity dead.
And China is an example of the risk of building too much infrastructure, i.e. roads to nowhere.
can't do anything if i can't find anywhere to live lol. does rishi expect hundreds of thousands of people to live on our streets, because that is where we're going. All housing developments near me have stalled no work has been done since september 2023.
In light of the ongoing global economic crisis, it is crucial for everyone to prioritize investing in diverse sources of income that are not reliant on the government. This includes exploring opportunities in stocks, gold, silver, and digital currencies. Despite the challenging economic situation, it remains a favorable time to consider these investments.
The pathway to substantial returns doesn't solely rely on stocks with significant movements. Instead, it revolves around effectively managing risk relative to reward. By appropriately sizing your positions and capitalizing on your advantage repeatedly, you can progressively work towards achieving your financial goals. This principle applies across various investment approaches, whether it be long-term investing or day trading.
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
Please can you leave the info of your investment advisor here? I’m in dire need for one
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Melissa Terri Swayne for the last five years or so, and her returns have been pretty much amazing.
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My partner works quite high in the government and she told me (off the record) that during covid she often thought the wastage of money and building up as much national debt as possible was almost deliberate, being serious there's no way politicians could be so incompetent and foolhardy. What a strange/ bizarre time that was?
Ofcourse it's deliberate they are crashing the west,judgement starts in the house of God. ie chrisidom
I believe it was deliberate.
Most of that money was "wasted" on companies owned by major donors of the Conservative Party.
When you realise it’s being done deliberately it starts to make sense
Most western countries leaders are doing everything in their power to destroy their countries.. makes you think doesn’t it
It was deliberate, for sure
You mean that giving more money to rich people hasn't worked out well for the majority? I'm so shocked
The trickle down theory of economic growth (low taxes for the wealthy) has been discredited for forty years but still the Tories believe in it.
That old clone of Biden named Charles III and his royal elitists, those parties (right, centre, left), those at BBC, Daily Mail, ITV, Sky, etc... are responsible for this.
The United Kingdom, will also have to return all stolen artefacts and treasures and many other possessions, located in vaults, palaces, museums and mansions, back to all respective countries permanently, without any conditions, threats, retaliation, reprisals and strings attached and award financial compensation+plus interest, to every nation they have invaded/colonised/raped/ruled/tortured/exploited/pillaged/plundered etc, over the past two thousand years.
The futboll is from of the Maya civilisation
All the gold from Ghana (the Gold Coast)
Ruby and gold (from Africa)
Tea from China
Elgin Marbles that belong to Greece
Parthenon sculptures
Benin Plaques from Nigeria
Stealing word "loot" from India
bicycles invented by the German Baron Karl von Drais
Ibn Firnas (founder of aviation)
$45 trillion from India
Kohinoor diamond (Queen of thieves crown)
Ring of Tipu Sultan
Sultanganji Buddha statue
Amravati marbles
Tipu's Tiger
Nassak diamond
Ranjit Singh throne
Shah Jahan wine cup
Zero
Plastic surgery
Yoga
Arabian horses
Guyana gold
Kama sutra
Benin bronzes
Polo sport from Persia and elephant polo originated from Nepal.
Forced separation of Rohingya from their lands in Burma.
Signalled mass murder of Palestinians and steal their properties.
They stole Americas, Australia, Canada, New Zealand, Palestine from it's indigenous people.
Native American women were forceably sterilised to control their populations, at around the same time in history.
Ruining the teachings of Jesus (peace be upon him) is unforgivable.
Deceiving, Looting and Killing only skills possessed by British empire.
Even their most ancient Legend, that of a so called King Arthur, isn't actually british.
Australia, for Aborigines, New Zealand for Maoris, Chagos Islands for Chagos people, The America's continent for native American Indians (from Canada to Las Malvinas), and Palestine (pre-1917 Balfour Declaration) for Palestinians without the existence of the Zionist-cancerous regime (Golan Heights permanently returned back to Syria, without any racism, terrorism, bigotry, hatred, murder, coercion, invasions, colonisation, exploitation, conditions, threats, sanctions of every kind, and strings attached against Damascus and the Syrian people and also against the anti-Zionist Asaad Government, ruined the teachings of Jesus (peace be upon him), set up a madman running Ahmadiyya, established a terrorist wahabi group to give Muslims a bad portrayal).
The English were Angle and Saxon Tribes that invaded England and they could not ever read a book, the Scots and Irish taught them that skill and in the end, these Angle and Saxon Barbarians Stabbed the Scots and Irish in the back. It is also time to permanently expel the Rothschild's Banking family from all of our respective nations; the present Zionist global elite matrix control system and the Zionist elite global stranglehold against the will of Humanity, for many millennia's, must collapse and end respectively, once and for all.
Anyone who condones, glorifies and defends the illegal and illegitimate existence of the Israeli Terrorist state, the Zionist indoctrines, satanic/talmudic/luciferian ideologies, is complicit of the racism, colonialism, terrorism and genocide of the Palestinian people (without realising it), but also deserves no right to exist in the very first place, regardless of your own race, colour, religion, gender, ethnicity and nationality (Zionists of Eastern European Jewish, Christian-Zionists, Arab-Zionists and Hindu-Zionists backgrounds).
Ronald Reagan and Margaret Thatcher cynically called it 'trickle down'. Nothing trickled down but huge amounts were hoovered upwards. Privatisation and tax cuts have had the same effect and contributed little, if anything, to the general well-being of the majority of the British people.
L🤫L Ponzi scheme economics 😬
@@chrishewitson7135 I am always amazed by how much poorer people defend this inequality because they have conservative views and thereby hurting their own chances.
Slight correction: we haven't voted for increasingly populist leaders, Conservative Party members have chosen our last two PMs.
Saw that and thought like only one of those was elected
Not even the Tory members got to vote on Sunak.
@@angevinnwho made him Pm then 😂
@@Kartik-ij2vy in technicality the king in practice the inner members of the conservative party.
@@Kartik-ij2vy he stood unopposed so he was the de facto winner
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How
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Thanks to Mrs Maria Davis.
She's a licensed broker here in the states
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The thumbnail is very misleading, it lumps the Republic of Ireland in with the UK. The economic situation in Ireland is quite different to that of the UK.
Not for much longer with your governments delusion that mass immigration is the answer to all its problems.
If you look in the corner at France, it's just two maps in different colours cropped to the British isles
@@aric7726 It literally has the first two letters of POOR on Dublin. Truth is that most British people don't recognize Irish independence in any way whatsoever.
It's an terrible video, completely skewed biased incomplete data, factually incorrect everywhere, but it's presented as true fact. YT should ban videos like these.
@@aric7726 What are these British Isles of which you speak?
The UK also squandered it's North sea oil reserves unlike Norway.
Norway had/has vastly more reserves.
@ThumosUK Actually Norway didn't have more reserves.
@@andrewwotherspoona5722 You're right. I stand corrected. They did squander it compared with what Norway has done with its sovereign wealth fund.
The UK wasted some opportunities but let's be clear. You're comparing a country with a population of less than 5 million when the largest fields were discovered versus one with over 55 million. Eleven times the number means the wealth per head is literally eleven times lower. Small petrostates are often incredibly wealthy, have plenty of capital to invest and the wealth concentrates if the government is generous. Norway is no doubt very grateful for the liberation in 1945 by British forces to become the country it is today.
@@pgr3290 Even still. A rough calculation shows the country would have £20k per British citizen if they had managed it like a sovereign wealth fund as Norway did (Norway has circa $270k per citizen). Instead profits likely went to a multinational oil company.
The UK is a perfect example of self-inflicted damage.
Anyone with a brain could see this coming. In fact people have been saying it for years... the issue is that the people in power were more interested in helping their rich customers and friends rather than to bother avoiding this inevitability. As a result, the poorest suffer the most.
I believe these people should be held accountable for the ruin they've caused and the consequenses should be as severe as the consequences are for murder... because these people have willfully and deliberately caused financial ruin, deaths, a huge spike in mental health problems, massive wealth inequality and a drop in quality of life not seen in the history of this country.
Yes 10 best professor economists researchers said BEFORE BREXIT not to vote for it , what they did? They voted....I blame the rich ones as they were fear of EU tax evasion laws, so they sacrificed UK people to hide their money.....
They only did those things because you elected them, and you keep electing them!!
Stop talking as if the UK is not a democracy: It is, this is what the people voted for, and the people are 100% responsible!!!
And until the British People relearn how to take responsibility for their own actions, things will continue to get worse...
This is a case of those with voting against those without.
The rich and old have been voting in favour of policies to protect themselves and make things better for themselves because they were a much larger voting block.
The country peaked about 40 years ago. It'll never recover to that level because in order to do so, people will need to basically vote all policies in favour of passing the bill down the line and giving themselves everything. But even then, the bill still exists from the past generations.
OH LOOK... Not ONE mention of the flooding of the UK by mass immigration.... 11 MILLION from the EU and now mass global immigration in the millions.....leaving nothing but poverty for the UK's native population.... Without these elements mentioned, this video is pointless and worse, a vile globalist, anti British, lie and misinformation...... GARBAGE............. Anyone with a brain can see this.....
This, especially in the case of Brexit - all aimed to make the rich - richer. No sustained growth, just a decline.
it's all been sent abroad and into Politicians offshore accounts, That's where it is...
I remember visiting the UK as a child.. It always felt like a paradise... Stay strong British friends, I really hope things will get better for you all ❤
Can you please elaborate, like what went wrong?
Our politicians bet the house on the utopian idea that we could survive purely as a service economy.
Morgan Freeman narrates: *"In fact the UK could not survive as a service economy"*
Well if you recall, a large part of the reason for shifting to a service economy was because of the destruction on manufacturing being wrought on the economy by an extended period of constant strikes and go-slows by unions.
Now the unions may well have had legitimate grievances, but their actions meant that no-one, at home or abroad, could trust that whatever they were buying would be delivered on time, nor that it would be of sufficient quality.
That in turn led to equipment being sought from overseas instead. Even Japanese cars, which were in those days seen as a joke, were more reliable than British cars.
So the manufacturing economy withered away, and the service economy grew.
Is that a bad development? Yes, I think it is. But unless manufacturers can be assured that they can manufacture without constant wildcat strikes, they are unlikely to prefer to invest in the UK than elsewhere.
Whilst I would not disagree with the statement that "the UK could not survive as a service economy", I'm not sure that I would take the word of an actor, Morgan Freeman or anyone else, as an authoritative source for the economics of a country.
@@craigs3007 The Morgan Freeman thing wasn't a quote. It's a rhetorical device.
All developed countries have seen services increase as a proportion of GDP over time. The UK's economy is no more dependent upon services than the US, and not significantly more dependent than France. The UK is the second largest exporter of services in the World, and has the same level of total exports as France despite exporting less goods and more services. Whilst the exports of goods remain important, I wouldn't underestimate the importance of the UK's comparative advantage in services.
@@craigs3007 Blame the Tories not Unions
@@michaelandrews4783 I know that a lot of people do, but the union issues to which I refer came before the Tory government, and indeed they led to it as the Tories could legitimately say, and did say, "Labour isn't working".
At that time, unemployment had gone to more than 1 million for the first time ever, and the Tories drove that home in the election. Of course, it went to more than 2 million after the Tories won the election.
But the rot was already there by the time the Tories got into government. And I'm sorry, but the Tories had nothing to do with what the unions did were doing when we had a Labour government.
Bad management, lack of strategic thinking and stagnant decision making. Discriminatory tax system that does not promote growth
A tax system which lets parasitic corporations get away with murder while passing the costs to everyone else
Insane production quality and very thorough presentation. Kudos!
Great analysis. I'd love to see a more detailed video looking into future prognosis.
Narrator: “4 leaders in 5 years, unprecedented in western democracies”
Italy: Hold my Peroni
Australia: 😂
Italy: Those are rookie numbers. You've gotta bump that up!
😂😂😂
Check Romania in the last 15 years 😅
As an Italian I can confirm also fun fact
Since post war world 2 no Italian government has ever finished the mandate
Someone or something g along the way made always fall the government before the next election
The UK is the perfect example of what happens when the state is basically at the service of multinationals. High dividends, tax cuts and austerity will take you so far since theres absolutely little benefits to this equation. Cut in services basically underfunds all infrastructure, creates crumbling infrastructure and has completely divided the country by regions. The average citizen has no benefits to the wealth or tax cuts. Housing has practically gone all private making it unaffordable
If they were smart they'd fund everything they can to keep the plebs healthy and happy, because it's hard to exploit people when they're coughing up blood or dead. It's a win win for all involved, they just make slightly less money to squirrel away in the short term.
Not so. Look at Ireland. Ireland is a tax haven that pays businesses to Research in Ireland. They are doing well (though the people themselves don't feel it), precisely because they are at the service of multinationals
Could you please define austerity as you mean it. The economics term is often used to mean different things because it seems to be contrary to the English meaning.
@@Silverfish-qv8ig Please explain how a country is doing "well" eventhough "the people themselves don't feel it".
@@sandrop.92 Very easy! If the majority of the new roles created are out of reach of the average Irishman/woman, how do they benefit? Services? But there has been no tangible increases to quality of Irish healthcare, schools or basic services. Much of the money handed to Irish government in Tax goes back to businesses as R&D write-off. Also, the immigration needed to support this growth in business is causing a massive housing crisis for most Irish folks looking for a place in Dublin. History is littered with cases where wealth is distributed amongst the few whilst the majority do not benefit. Take the British Empire and the Industrial Revolution. Factory owners and merchants were incredibly wealthy, but most people lived in squalor and died at 40.
Well balanced and articulated video complimented by excellent relevant visuals. Good job.
Like Warren Buffet said, dividends are only good if the business you're investing into can't make good use of that capital. So, if you're trying to invest in businesses with actual growth, looking at dividends is a waste of time. Why are you investing into a company if they're returning capital to you because they think you can make better use if it than they can. It's not much different from bond investing. The way I see it, if you have a $1 million at some point, that'd be enough to create a portfolio that would pay you between 50k - 70k in dividend income.
I got to start over financially at age 43, I'm in 90% stocks now and 10% exchange-traded REITs. Honestly, I'm fine with it. At retirement I plan to switch over to all dividend stocks and just live off the income, not caring a whit about what the day-to-day prices in the market are.
I wholeheartedly concur; I'm 60 years old, just retired, and have about $1,250,000 in non-retirement assets. Compared to the whole value of my portfolio during the last three years, I have no debt and a very little amount of money in retirement accounts. To be completely honest, the information provided by invt-advisors can only be ignored but not neglected. Simply undertake research to choose a trustworthy one.
@KennethBaxter
Impressive can you share more info?
KennethBaxter,
I believe you have some good information.
Pls update me 🙏
@KennethBaxter,
I see you have something to share? Can we have it all 🙏
I bought an ice cream for my son in soho yesterday, it was £7.80 for a single cone. Prices of everything has rocketed wages are stagnant for 15 years
Yes
I’m from Canada and still always converting to our dollar, it’s like $14 😅, stuff here is absolutely nuts if you’re bringing in savings from another currency
Why would you but an icecream cone for 9 euros? I could buy 6 icecream cones for that price in Latvija, and if someone charged me 54 euros for that I wouldnt but a single one, candy is not healthy anyway.
That's just stupid london prices. I personally wouldn't have bought that out of principle. I can afford it but why support a rip off and encourage it.
Yeah in the majority of England a single ice-cream wouldn't be close to £7!
I feel like £2-£2.50 is more of a typical UK price.
Soho London is notorious for extortionate prices.
The average wage & standard of living has declined due to the people that have been running this country.
They set the rules, decides who gets the cash & who gets taxed...
Utter rubbish . People don't know how well off they are now
@@DOCTORDROTT Well off? My ancestors where married with a house and children at my age when I cant even afford a car.
@@DOCTORDROTT Don't let the facts get in the way of your blindsided tory narrative.
@@DOCTORDROTT another person comparing today's lifestyle with the wrong parts of the past. Access to technology, healthcare and cheap credit doesn't make us wealthy.
The establishment are focused on foreigner policy, still fancy themselves a big player. Similar to individuals who spend money on flash cars and foreign holidays to impresses their neighbours, but when you go inside their house, it is bare. "All fur coat and no knickers" as the saying goes.
Feel like politicians ignore the fact funding isn't the only issue with the NHS. Most NHS staff you'll meet (most, certainly not all, we all know great exceptions) really do not give a single damn about the patients. So even if you do get appointments, operations or any "care". Between the staff and funding, don't expect to come out of it better
That is a sign of an overstressed and understaffed workforce.
@@rogerwilco2 Funny how bad nurses are just stressed but bad builders are cowboys.
Net zero is what's killing us! You can't run industry on a low-density energy from renewables!
WOW!!! I can't believe it! An economicd video that doesn't imply that am economy isn't growing because workers have too many rights . No so called " flexible labour market" reforms mentioned ( AKA slaves that can be fired easily) . Its as if real economic policies are meant to benefit society as a whole and not just a few! That's it , im subscribing!
It went from being "Great Britain" to just "Acceptable Britain".
*Unacceptable
Too true.
Great Britain t l-rated Britain
Mediocre Britain now
Medium Britain
More like Broken Britain 🇬🇧
Great video mate. Well done
Thankyou!
Interesting video - do you edit these yourself?
They could have used north sea oil reserves to setup a sovereign wealth fund like Norway did and own 5% of global GDP whilst using dividends to pay pensions.
Instead they gave contracts to their mates in return for favourable 'advisory' roles in big corp and sold the country down the river.
Using oil for that right now is a bad ideal all around. It's a very, very short term boost given the world is moving away from it (and will do more quickly as it becomes more and more obvious that burning the stuff is destroying our only home). The Petro states in the Middle East worked this out decades ago which is why they own so much around the world these days in massively diverse sectors. They know the end of oil is coming.
The best way to improve things is to invest heavily into the regions with better public transport and other infrastructure. We need London like investment everywhere else in the country. It'll diversify the economy too because we won't be beholden to a single sector (finance) to make the economy. We need a CrossRail in the North from Liverpool to Leeds (and even Hull, I guess they deserve nice things) and better connectivity further north to places like Newcastle. The south west is in MASSIVE need of investment, they always get the shittiest end of the stick when it comes to spending.
All these things will mean we ALL benefit, not just the few at the top who already have and own everything. But that isn't the point, the system has been designed to work this way since some bloke called Bill came over from that their Normandy and had a scrap near a place called Hastings.
When the North Sea was providing maximum income, Thatcher's chancellor, Nigel Lawson slashed income and other direct taxes, especially for the rich. The top rate of tax came down from 60p in the pound to just 40p by 1988. He also reduced the basic rate of income tax; but the poor wouldn't have seen much of those pounds in their pockets, as, thanks to the Tories, they were paying more VAT.
Oil revenue doesn't create a Norwegian-Dubai lifestyle in countries with populations greater than 10 million people with Saudi Arabia the only exception to that rule.
@@Peglegkickboxer In the case of Saudi Arabia it doesn't create the lifestyle there either, unless you're among the elite. It's far more egalitarian in Norway.
@@Peglegkickboxer Still better used for the public rather than a minority of already ultra-wealthy people.
This is so good, I'll have to watch it a couple of more times to take it all in.
Do you hate British people? Most people do
Short answer they did not have anyone to steal from
Long answer everyone that they were stealing from kicked them out
The biggest problem Britain has is that policy is determined by false political dogma. The notion of "free" markets and a lack of government intervention compared to similar ecomonies has meant that we've been outcompeted in our own markets by foreign companies backed by their own governments. Thats why we have a "private" railway with trains operated by the German government, or "private" electricity generation owned by the French government. It's why our last blast furnace is closing down, because it cannot compete with Chinese state-owned steel corporations. Even the US, the most capitalist and "free" market of them all, uses its military as a means to subsidise its heavy industry with taxpayer money and a series of protectionist policies that ensure value for purchased goods stays within their shores. Boris Johnson said he wanted Britain to be the Saudi Arabia of wind, but he forgot to mention that Saudi Aramco is a state-owned company that puts its profits back into its economy. We once had a chance of having our own Aramco in the North Sea, but Thatchers policies cost us £400bn in GDP and a potential for a sovereign wealth fund that would today be worth £800bn, had we followed the Norway model. I've got 2 GCSEs and i swear i could do a better job than the muppets we have in power now. If you love this country you should NEVER vote them into power again, or anyone else who doesn't love this country to their core for that matter. Rant over.
Saudi Aramco oversees around 100 times the oil reserves ever held in the UK sector of North Sea.
It also gives almost all the oil income to one ruling family.
I think you need to think before commenting next time
@@tomjohnson9833 Wild how you could be so arrogant yet so ill informed. The ownership of Aramco is as follows: 90.19% Government of Saudi Arabia, 8% Saudi Public Investment Fund, 1.81% Private investors. That's where the money goes. Yes, The King of Saudi is the Head of Government but the profits from the company go into government budget. That's why the standard of living is wildly high in Saudi, and the average Saudi citizen is wealthier than the average Brit. A higher percentage of the value of each barrel of oil extracted is retained by the government of Saudi Arabia than that of the British Government and the North Sea. The same is true for the Norwegian state-owned company, Equinor. Anyway, it was Boris Johnson who said Britain should become the Saudi Arabia of wind, not me. And if you want to read up on how Thatcher failed Britain in the North Sea, then look it up because you are clearly and embarrassingly ill-informed. Not to mention that is all somewhat besides the point, that you need to have state-owned Energy for the country to truly benefit from the generation of wealth, rather than a handful of international companies who hold onto the money aside for a few % per barrel of tax revenue.
@wertrocks123 the Saudi King and Crown Prince are absolute monarchs. They ultimately control all income and public spending in the kingdom.
The income from Aramco is funnelled to the people in the form form of generous social protection, but the people don't vote for their leaders, or have any control over where its spent. One could argue that its just money to keep the masses on the side of the house of Saud.
So I'm not wrong.
You mention oil companies only paid the UK "a couple of percent" of the value of the oil extracted in taxes back to the UK. Its actually been around 30% on average, and remember that Saudi oil is much easier to extract and access than oil from the bottom of the North Sea.
You make no effort to engage with my main point, which was your failure to grasp the radically different scales of oil reserves between the UK and Saudi.
@wertrocks123 the Norwegian case is similar to Saudi when compared to the UK.
Historically, Norway has had around twice the oil reserves of the UK. But Norway's PIF is mainly funded by natural gas, and Norway has 10 times the UK's gas reserves.
The UK's largest gas fields were in the Southern North Sea off East Anglia, and most were already becoming less productive before thatcher took power.
You'll ignore this distinction between UK and Norwegian reserves just like you did the Saudi case, and you'll focus on something trivial or be deliberately obtuse to avoid embarrassment. But I know you'll read it.
The UK reminds me of Argentina, I heard an Argentinian economist when asked how Argentina went from a top economy in terms of gdp per capita to a basket case and suggested a 100 years of always taking the wrong economic decision, when is the last time the UK has choosen the right economic decision?
Liz Truss attempted to make the right economic decisions - but the swamp wasn't having a bit of it...
@richarddobson4marrickville The swamp gave her her job. The free market had one look at her plans and decided to take their money elsewhere!
@@porcupineinapettingzoo You should be disturbed that the rich and powerful can control who gets to be put in government.
@cattysplat The Tory faithful voted for Liz Truss, the money faithful didn't want to risk their money, livelihoods, companies, your pension fund on a mad fiscal experiment after a mad isolating experiment, the Tories could have stuck with their choice, if you have an issue take it up with them!
It is very similiar to Argentina. Most of the world has been suffering for over 100 years under socialist policies, Argentina is turning around rn finally, hopefully the UK and the rest of the world follows.
Wish my british friends all the best and a rising economy for the future! Greetings from Germany 😊
Eventually we will be ok we just need someone with guts to say we need to go back to manufacturing
@@SamthebritishgentNever will happen. The only people that would are workers, and not only is it very rare to see someone from working class in power, but any workers movements are crushed, or too concerned with 1920s Soviet politics (Trotskyism, stupid ideology).
Germany is next Britain. Don't worry
Als Deutsche können wir von den Britten lernen, wie es nicht geht. Die haben sämtliche Investitionen in die Bildung, Infrastruktur, ... verpeilt und jetzt haben die den Salat. Wir machen es leider nicht anders. Jetzt haben wir die Möglichkeit zu investieren, aber wir sparen lieber, damit wir später noch mehr investieren müssen, als jetzt. Zudem wird die nächste Regierung wahrscheinlich auch wieder konservativ und dann geht es uns auch nicht anders. Es ist traurig.
As if Germany's faring better.
Nottingham city council is a very small area and covers the poorest and student areas of the wider nottingham city area that people would recognise. All the rich areas sit in neighbouring Ruchcliffe BC which came 15th on that ranking.
Absolutely brilliant analysis 👏🏽👏🏽👌🏽👌🏽
HS2 is a good example of low UK productivity. Billions have been spend so far, yet not a single metre of track has been laid, in a meantime China built hundreds of miles of high speed railway. Saudi Arabia will be long finished with their utopian Neom city, while here we would still be discussing the HS2.
the "utopian Neom city" has been long cancelled and was never going to be completed, from the mistreatment of its workers brought in from India to its lesser mistreatment of expats who do the majority of skilled labour, the project has been a complete disaster. And thats just the logistics of building a project like that, not the fact that Neom is poorly engineered, and doesn't make any fundamental sense for a city.
HS2 is even worse@@jakealcock5905
The length of track laid is not a good measure of the productivity or progress of a rail project. Laying track is something that happens right at the very end of the construction process, so a single meter of track won't be laid until the vast majority of the work has been completed.
Neom is getting built and they're do ground works as we speak
Would not even trust the UK to build a roundabout ...
Correction. The narration states that the increase is 0.85% each year. The correct figure stands a 0.085%, that is less that one percent!
actually you are wrong, 0.085 is less than 1/10 of 1%, 0.85 is "just" under 1%.
@@Battleneteranything less than 1% is less than 1% only...be it 0.85% or 0.085%...both are less than 1%
Either way it proves its an appalling deal trumpeted as a fantastic deal to trying to make the disaster of brexit look good.
Delete the comment
@@Hussainpiplodwala I was just correcting his specific math mistake the context he stated, read it again.
Does the thumbnail for this video annoy anyone else? The image on the left has Ireland in 1920 with a line showing a border which doesn't yet exist, then on the right makes it seem as if it is significantly worse off than it was in 1920.
In 1900, people in the UK lived under 1 GBP/day. Mind-blowing video. The peer reviews are so biased. Did they look in other places to see how inequality works? Anywhere outside the Global North for that matter?
I lived 4 years in London as a French guy, but feel so bad for the British people.
They already kind of live in a tough country in terms of lifestyle/climate, and now this.
France with all its problems is a literal paradise compared to UK.
I think France and the UK have equally terrible economies
France has a much more balanced economy, you can live in any main city and find a job if you widen your skills. Meanwhile, the UK is very London centric. Also French economy is not dependent on Finance like the UK is. Still, yes, all of Europe is goingthrough a downturn. But UK is worse because I think they are less protectionist@@danielfigueredo6994
@@danielfigueredo6994 quality of life in France for the average worker is objectively better though (I've lived and worked in both countries)
@@danielfigueredo6994France is still a welfare state, not UK, therefore, as a French worker, life is not hard.
@@JR-lz4bz For now, the current government spending isn't really able to keep up mid- to long-term. It's going to shits as it is now.
What a dumb map - it includes both Ireland and the UK as poor. Ireland is a separate country FFS
Ireland is no better! Our country has become a tax haven for large companies and once again the working population are starved!
Its awful video and factually incorrect throughout
Fantastic video. Great summary and very clear
Thanks so much
We've left the EU. That was the biggest problem to be solved. The rest is up to us.
Can't do basic infrastrucutre investment like HS2, 3rd/4th runway at heathrow, Cross Rail 2, Underground system in Manchesteer etc.
tbh digging up Manchester would be hell on earth for the people though. the city would do much better with extended overground, and extensions to outer towns.
"We need to boost productivity of the North and reduce energy prices"! Proceeds to then cancel HS2, continue to privatise the health service, issue reports on abolition of pensions, and welcome millions more low skilled assylum seekers. Our business secretary Kemi Badenoch's only job was McDonalds fgs.
With regards to the “Income Inequality” in the UK @11:00, there’s swings and roundabouts to that. Someone in the North of England might be on £30k, but the cost of a 3 bed semi detached house up there is about £150k. Someone working in the South East might be on £50k, but the cost of the same house is about £500k. The cost of living in the south is much more than up North. I’ve met my northern colleagues in London and they always say how expensive it is just for a sandwich and a cup of tea. You’d get the same thing for a fraction of the cost up north.
While I am British, I grew up in Guernsey, but lived in the UK for 6 years in the 20teens. Honestly, I don't know how some people actually survive with wages being as poor as they were, not to mention the massive student debt that they sell as not being much... Bla, and then stealth tax it into your tax payments. What they don't tell them, is that the 60k debt is the half (or more) the cost of a house in many areas of the country! I am grateful for where I grew up and moved back to, because we actually have a much better economic balance. I would never move back to the UK mainland.
Is Guernsey not part of the problem ? Helping people shelter wealth from a stretched UK government ?
Despite the government intervention? no. Partly because of it.
Yeah as soon as I heard that I knew this video was made by a moron
exclusively*
Solely because of it. Every economical issues are due to government intervention into the economy.
Standards declining apart from the richest backpockets.
Bank bailout from public funds has never been replaced an Britain dont really produce anything worthwhile anymore but imports substandard properties at extortionate prices which don't help
The system is to blame. The government too, but mostly the system.
Hi, great videos and I like your analysis.
Can you maybe make a video on Croatian economy? I wonder what can we do, by your opinion, to get better.
Glad you like the videos. I’ll look into it!
Powerful stuff.
This should be shown on TV before the next election.
As a person from the US who is now working in the UK - there are two aspects which have impacted the UK economy.
1. Investment in people. The UK’s entire apprenticeship scheme is not geared for the modern technology economy. To think that someone who knows nothing about maths can do AI/ML/data science has caused so many issues, causing companies to offshore/nearshore their innovation. But you can’t solely blame it on companies. UK students can graduate with a degree in three years. A degree in engineering where they have barely taken any engineering classes, but are considered a well rounded individual. Seems the UK university system is just geared to produce managers and accountants.
2. Culture - UK culture likes bureaucracy. Hear enough about working committees and steering groups… every decision is by popular vote. So by the time you make a decision, it’s either the wrong decision or the opportunity is long gone. You may not want to compete with China but in many cases, China is competing with you. And they want to win, while I hear often times in the UK - “its ok to not be number one”
If you have the skill and have the motivation, you will win. Taxes are surely a problem but I think the root cause is bureaucracy.
Tend to agree with most of that, but not the 'bureaucracy' being the cause. Much of northern Europe has similar, if not more worker representation, and performs well over time. Similarly, have you dealt with US public services?! Have you seen their websites? Hardly a model of modern design and efficiency. The US might be richer on average, but is has vast income and wealth disparity and a protectionist economy in quite a few sectors (including monopolistic global Big Tech firms). The UK is in a mess, but it's not because of red tape, it's arguably because poor regulation (a form of 'bureaucracy') has allowed minimal investment in staff training and development, investment in R&D exploitation, and in national infrastructure.
@@RTWuk I'd suggest that @logicae4096 is not making a US v UK argument, but is simply pointing out the observations of how the UK works from an outsiders perspective.
The question is not really whether the US also has inefficiencies, but whether what he says is correct.
Is he correct in saying that:
- the UK has a lack of investment in people? I would say yes.
- the UK apprenticeship scheme is not geared for the modern tech economy? I would say yes. We have a painfully small number of apprenticeships, preferring to send young people to university where they can run up a huge amount of both student debt, and the living costs maintenance grant has now been turned into another loan.
- that we have working committees and steering groups. Again, we do have those. We also have quangos. We also have bloated local councils where cuts are regularly made to services while increasing the compensation paid to executives. We also have civil servants who are almost unsackable - if they do a bad job, they just get shifted to another department or promoted.
- China is competing with us, even if we are not competing with China? Again, I would say yes.
He correctly points out a lot of things that are causing problems. That is not to say that his own country does not have problems - all countries do. But sometimes those of us within can't see the wood for the trees, because as far as we know, it has always been like that. Someone who comes from outside can see things that we cannot.
I would welcome his observations, and would only wish that they could have an impact on changing things for the better. Alas, I fear that they will not.
Corruption and byrocracy is the reason why the entire West is going to shit this century.
As a British American, I appreciate this comment. I often say the US needs more apprenticeshiip but your point about people not knowing math is a good one. I disagree that the UK university system is worse. The US one is where people have to take math, science, language, english, and other subjects for three years before choosing a major. The UK is where people begin their university career straight off the back studying their core subject.
@@simatian2019 Not saying US schools are any better…. Outside of the top 50, there are some really questionable educational practices in the US!
Tebbit used to say get on your bike.... However in the UK moving to get a job has never been so hard owing to the cost and inavailability of housing.
Normal Tebbit was an ideologue who never let a fact get in the way of his beliefs. That's why we're in this mess. Free Market? Free Markets in the best sense of the phrase cannot exist under the sway of a dominant sector - whether that is the state, or a bunch of rentier Capitalists. As Michael Hudson argues in his book "Killing The Host", we don't have a Free Msrket, and it is less the fault of the state alone. It is that the stare and the economy are being run to enrich the financial sector, by vampirising the rest of the economy, including industry. As the economic thinks who argued for it envisaged it, it would be a mixed economy, where the state would facilitate the flow of capital to industry, but also prevent rent seeking from taking over the economy. It should be a symbiotic relationship, but it has become a parasitical one, because the financial sector is too big, and fails to direct capital into the real economy. Instead, finance is bleeding it dry by preferring to earn its profits through unproductive and unsustainable rent seeking. In doing so they are gradually diverting away cash flow from capital investment to speculation and asset bubbles, because those activities are more profitable for them, as they keep the money they make circulating amongst their peer group. That means that wages will continue to fall in real terms over time, and the state will be starved of revenue to function as the level it needs to do to support the productive capacity of the economy.
ONLY one crucial question:
WHERE IS THE TAX MONEY GOING?
Did you use D3 js for graphics? looks fantastic!
Fantastic again! I'm really looking forward for the Germany one. Glad to support such a new channel. Thanks for all the work gone into the video-making process, keep up the good work.
Thankyou so much - really appreciate it
Australia when through a quick change of PM's - RUDD, GILLARD, RUDD, ABBOTT, TURNBULL, MORRISON and now ALBANESE between 2007-2022 - that's 7 in 15 years.
The same thing as the UK?
Not the same. There's a change in party between Rudd-abbott and again between Morrison-albanese.
@@Orion-mi4eu yes, its same even with party change they kick out the person the people voted for their yes man/women
UK has the nostalgia of a former vast empire. Even though all colonies gained their independence, she still retained “financial service industry”. She went through rapid de industrialization with some “services” jobs replacing manufacturing jobs. I left 10 years ago when I realize she wasn’t gonna provide good living standards to most other than elite.
Stagnation just means nothing has got better. There are no natural resources, there is no technological innovation. We import migrants for cheap, low skill labour, driving the average salary down. And so nothing has improved.
you must just believe more ... Bojo Pinnocchio promised higher wages ... .. or did he lie to the public ??
I work with a polish lad. He says hes going back home this year because his economic prospects are better there than they are here and have been for a while
Also helps that fact that ever since he probably arrived in the UK, hes been sending money back home. Ask him for a photo of his gaff back home 😂. This was always the plan. same with all the others coming here and sending their welfare money back home to build mansions. Funny thing is, a lot of people never go back to their properties since they're incentivised by pension so they decide to stay a little longer until they're too old lol
Poland will pass UK in average income in a few years. Good thing for us Brexit happened, so we won't get flooded by piss cheap British workers over here in EU. Good riddance!
Poland is on the up in its own little way
@@SiMe-ht3pm poland isnt a third world country man, uk wages wont be building mansions over there, the albanians will be though
@@SiMe-ht3pm A lot of people do that... Which is sad. Very sad. Iam from Hungary, and i live in UK. I have not spent a single money back. Ther is no reason for me why to. I moved here to UK because i was planing my life longer term here. Buy a house, make a family etc.
Every time I visit Britain, it feels like to be in a museum
I have been working for an overseas British entity which is managed by its UK office, for the past 2 years. One thing I have noticed is how badly things are managed and how their priorities are all wrong. The technical people who deliver all the customer services and earn the money for the entity are squeezed...they are understaffed, are given low-spec computers, and are generally unhappy. The support/admin staff have better computers, and multiple screens, given incentives like employee of the month, etc. Last year, there were over 350 visits from the UK side with the visitors sometimes begging the team to have meetings with them on something just because they have to show in the report why their visit was necessary even though nobody is benefitting from it. Then there are so many EDI (equality, diversity, inclusion) events, seminars, and visits from UK staff but none of the EDI guidelines are actually put into practice. We have now hired more managers and deputy managers who are all assigned new shiny offices and have secretaries, who are expected to boss the technical team.
The reason for the new hires is that the entity is not yet profitable....I wonder why?
The UK education system still seems largely geared towards producing colonial overlords from the children of the privileged elite and harsh inconsiderate enforcers and servants from the rest of them.
They are not being educated to be useful and productive members of a modern economy.
Britain became rich by having an empire. It's easy to make money when you can force other countries to sell you their raw materials at rock bottom prices, and then force them to buy your manufactured goods. You also have a powerful Navy to keep competitors away. As a consequence, British industry became lazy and inefficient. As the empire started to disintegrate, former colonies were now able to buy better products from competitor nations, or even use their own materials to start their own manufacturing base. The demise of the British motorcycle industry is a good example. Failure to innovate.
2 World Wars???
@@stephenchappell7512 Germany suffered far more damage during Britain during WW2, but they used funding from the Marshall Plan to rebuild and modernize their manufacturing base. Britain, on the other hand, still had delusions of Empire and squandered resources on maintaining a huge Navy and overseas garrisons. You could also look at South Korea as an example of a country that rebuilt itself after a ruinous war.
@@brendanpells912
Britain had to pay back every dollar
+ the Empire was gone within 20 years
No delusions there
Maybe you should also mention that the British a) also received money from the Marshall Plan, and b) twice as much as Germany. Many Brits no longer know this
@@nettcologne9186 I did know that but there are those that struggle to hold more than one or two thoughts in their heads at the same time.
Fantastic video! One suggestion, leave the graphics of graphs and statistics up a bit longer on the screen so we can read them :).
Generational welfare families are an issue and I'm aware that one tax free rich family equates to many unemployed families but the difference is, I don't pay for them.
A good summary of the problem. Solution:- A new 1% capital tax on the rich (particularly beneficiaries of offshore trusts) with net assets of £5 million or more enabling a transfer of wealth from the top 1% to the bottom 99% and an increase in UK productivity.
The figures for car production are shocking to me. In Australia all three car manufacturers closed down after 2000-2010. Their argument was that since Australia only consumed 1 million new vehicles per year,it wasnt profitable enough to keep their plants running. Yet the UK is well below that level.
they just used as excuse to move to china
Nottingham has the lowest income per person: no surprise there.
Call Robin Hood.
It's a surprise for me.. and I live there but the local paper is usually flashing bread and games, so not too surprising when I stop and think about it.
Didn't Nottingham vote Brexit,wait wait brexshite I mean 😊
Nottingham isn't exactly mega-rich, but this figure is misleading. The borders of Nottingham as a council area include all the more deprived inner city areas but exclude wealthier places like West Bridgford, despite it being walking distance to the centre. So they get excluded from calculations despite being very much part of the city in all practical / economic terms.
@@aziraphaleangel West Bridgford is in Rushcliffe. The figure is not misleading.
Everyone voted and believed that voting is the proper way to choose leaders.
Today we're living the consequences. Thanks granpa.
Also it wasn't diverse in 1920 but it is now, all those brown and blacks going so well for you
Wealth is either grown, mined or manufactured. A service economy creates nothing and just shuffles paperwork around.
It is much better to grow the size of the pie than compete for a larger slice.
keeps idiots who would otherwise want to cause trouble for the elites in useful employment
Tell the Singaporeans.
That's not true.
I dont think you know what service is. Service is IT, programming, and other tech industries, healthcare, education, as well as traditional service sector jobs. I’ll make an example: a company makes a paint (aka manufacturing), someone paints your house (service).
@@linuswittstrom4917 exactly… IT & programming, healthcare, education etc do not actually create wealth. The money to pay for them comes from elsewhere in the economy. Either it is mined, grown or manufactured or it is taken from other parts of the economy.
Despite vaccuming of the wealth of former colonies, you are saying lifestyle of average uk citizen hasn't improved. Seems like that wealth went directly in pockets of rich.
The colonies were net drains on the British economy.
Birmingham's population in 2020 was 2.56 million, marginally ahead of Manchester's 2.52 million. At other times, the wider metropolitan areas of the two cities are considered
Good video - only noticed one error at 13:48 0.085% shown and 0.85% on narration.
Manchester is shown as a region rather than the city of Manchester. For a par of the two it should be showing the West Midlands region which marry up the two on population.
Hope that this is going to be watched by those in the shadow cabinet as they will see the up hill task that they face after the next election.
It's shown like greater London, when referring to London people don't tend to refer to the city of London.
As it's talking about economics it makes sense to use Greater Manchester and not the city of Manchester which doesn't even include all of Machester's city centre. It should have used the West Midlands for Birmingham though.
@@Jgvcfguy That is what is used to mistakenly claim that Manchester is Britain's second city which it isn't.
@@philipdouglas5911
Precisely!
Because Manchester is awkward. The actual city represents such a tiny part of what most people consider as 'Manchester'. Even Leeds, which most people will consider a much smaller city, is bigger than Manchester.
Not entirely related but I would say Greater Manchester is far more integrated than the West Midlands due to its fairly decent rail and tram services between the outer cities. It's nothing like the TfL but it's better than what Birmingham offers.
Mental health is also a big factor, probably not helped by the economic conditions
Not being able to steal from others has made them poorer . Who knew😂
This video calls out underinvestment in a couple of areas: NHS and Education.
It also calls out high taxes and high national borrowing.
That's a hard equation to balance.
AND doesn't mention immigration
@@GuyverFrancis-jh6lmThats because immigration has had a negligible impact on anything to do with the economy.
The NHS and Education will never receive enough money, there is too much waste in both sectors. They are two massive holes which will only suck more money year on year.
Easy. Stop spending money on stupid wars, green nonsense, immigrants and population control. Fire all the redundant positions in government and make government corruption / insider trading punishable with 10 years in prison. You could have the best healthcare in the world whilst maintaining a 10% tax rate.
What UK needs is Finnish/Scandinavian double/triple glazed windows. with the increasing heating and AC costs, the windows would pay themselves in a matter of few years
We've had double glazed windows for decades.
Gas is more than heating, it's also hot water for showers, some have gas cookers/stoves, and stuff like that.
it's also money. you can't sell the energy savings.
@@BlueEyedVibeChecker UK double glazing is actually pretty crap and often 'blows' or has mould around it. I've lived in Finland, their triple glazing is incredible in comparison. Even in a much colder climate homes are far better and Finland uses district heating not gas.
We actually need less insulation. A lot of this green insulation nonsense has caused serious mould issues in houses.
@@MrEdrftgyuji No we need more insulation. You haven't heard my neighbours...
It would be great if for a while, whenever one shows an image or clip from the UK, it can't be from London.
Agree, though worth bearing in mind between one quarter and one third of the *entire* UK population lives in the London and south east commuter region.
UK is London. England is the regions
Can’t be helped. London is the basket where the UK lays her eggs.
I just returned from London earlier this week. It's insane how much has changed. When I lived there in 2006, I couldn't afford anything because it basically cost $2 for every pound. Now, they are practically neck to neck, and American prices have near tripled. So compared to American prices, British prices were actually cheap. I never would have guessed this would happen 20 years ago. If I go out of London, say, Birmingham or Cornwall, then prices are almost 3rd world country prices. I can get a cappuccino for about 3 pounds, which translates to about $3.50, which is literally half the price I would pay in Atlanta. It's sad what is going on currently in England.
Why did Ireland also become poor on your thumb nail?
Because in 1920 (thumbnail) - Ireland was part of the UK. His choice to add it to the present - possibly inspired by 'tabloid (style) sensationalism'
Life is garbage in the uk overcrowded dump. Even when you earn a decent wage you spend five hours stuck in traffic. Most high streets are full of Takaways selling kebabs and bats the chicken of the sea.
It wouldn't be overcrowded nor full of awful takeaways, if only boarders were properly controlled.
It's not over crowded.
India is over crowded.
Germany is just as populated per square kilometre if not even more so.
It's just been badly run by the Tory's for 14 years.
@@user-vu7rv1xf1l Or people who aren't supposed to be here would simply be deported instead of given 5 star luxury hotel rooms.
@@SilverWave64The present UK government’s solution is stopping processing of asylum claims, state people trafficking to Rwanda and vice versa with outsourcing of accommodation for asylum claimants to private sector providers. Wasteful, oppressive, costly and contrary to HRA and international conventions.
thats what u lot get for voting brexit haha have fun suffering
There’s a bit in one of Obama’s books where he says he explicitly warned David Cameron that if you implement austerity in a recession, you’ll begin a downward negative spiral of worsening economic conditions, inequality and political instability. Sadly, this whole state of affairs was totally predictable. They should have made cuts only to the extent that they stabilised bond markets, then borrowed to invest in the economy when interest rates were zero
Worth thinking about what would have happened had we stayed in... look at the situation in france italy and Germany
At 2:34. Really, unheard of in modern Western democracies? I see this man is unlearned in the ways of Italian politics since the 1950s. Rome is infamous as a merry-go-round for Prime Ministers. Even Japan, that model nation of probity and prudence, goes through frequent bouts of 1-year wonders in its Prime Ministership, with the 1990s being quite alarming in how many Japanese Prime Ministers were defenestrated.
Japan has the highest debt to GDP ratio of any developed economy so I am not sure it is a model nation for either probity or prudence.
@@jamesthomas4841 The vast majority of that debt is held by Japanese creditors. They buy up huge amounts of government debt, even though it provides very low ROI in comparison to other investments, as almost like a national duty. That's the reason you never hear of Japan teetering on the cusp of a sovereign debt crisis. This is unlike almost all other nations with similar debt overhangs, where international creditors call the shots and so demand far higher ROI. Maybe this is not prudence, but it's definitely probity. ;)
There's a load of rubbish in this video to be honest.
he gave sources, unlike you. @@mattm7007
Even Italy laughs at UK politics these days. And rightfully so. We're a fucking shit show.
unfortunately it's more or less the same in France or Germany , what's happening now in the UK is not something special, Europe as a whole is on decline , and nobody knows what's the exit strategy
Haven't got a graph but apparently the European Union is now a 1/3 smaller in economic size than the USA ( compared to when the Euro was adopted). Europe just doesn't have the vibrancy of the USA.
@@reddog5031 you haven't got the graph because it doesn't exist and utter crap. The EU economy grew by almost 10 times since it adopted the Euro LOL
War.
War is the exist strategy.
You see Growth is relative and if you plunge the world into War, the War economy and the after rebuilding competition along with new economic paradigm based on the past lessons will be born.
Above all every one will start equal. Government will be forced to nationalize big companies which will refund the infrastructure.
@@garciacalavera6830 It adopted the Euro in 2002, with like 10 countries joining since then. That aint saying much.
UK waste money on their royals that steal large areas of land and tax payer money and use up security workers that could have served the public instead.
"Your breath is cold, your heart's in flames"
The property market soared during the pandemic, seeing mortgage rates drop to the lowest they’ve been since 2015. It was expected to decline but instead there was a buying boom. After 2021, the property market then started to decline again and mortgage rates ballooned, causing people to have increases of £300 per month. The market is rubbish now but there was a strange golden bubble which was unexpected during 2020.
The UK thought they would find rich trade opportunities after Brexit. They were wrong. Ditching a network of trade agreements with the European Bloc for an uncertain alternative trade networks, perhaps based on nostalgia for Empire, proved to be nothing more than pipe dreams.
the uk has far to much regulation when it comes to international trade and thus any business from say brazil wanting to trade with the uk has to deal with a mountain of paper work and fees while they could just trade with the EU which doesnt have as much international paperwork and fees or even better the USA, china or india.
Anyone thinking that Brexit had anything to with Empire (rather than the fact that the EU leadership is almost totally unelected) is, invariably, an idiot.
Everyone I know who voted for brexit did so do to wanting their country to be sovereign. My people have a proverb for this, better bread with salt at fathers table than feasts with foreign lords.
@@sellis2819 The EU doesnt have much international paperwork? Youre kidding right?
You are talking rot. Britain has a free trade agreement with the EU which gives Britain most of what it needs to trade easily with the EU.
As only 6% of U.K. companies trade with the EU, there is little point in being a member of this corrupt organisation which is costing the country over £40 billion a year in fees and the hidden costs of regulations.
Your thumbnail is wrong, Ireland is not part of the UK.
No you are not and you will never be again brother. We are with the Irish. ☘💚☘
Although not as an EU Citizen, given the importation of thousands of migrants diametrically opposed to Irish culture and values. @@eucitizen78
It was in 1920
Yes it was & that's why we wanted out - taking back control of our economy and our borders (well most of them, except for one in particular) and all that - we all know how Brexit is working out for the UK economy. The majority of sources indicate that the Irish GDP is growing faster than that of the UK with a better economic outlook. That aside, you do have to forgive people sometimes for shimmying Ireland in with the UK. It can be singularly or a combination of all that is convenience, arrogance or ignorance.
He says, in English
You haven't explained how net zero can increase productivity and create jobs. Isn't it quite the opposite, reducing productivity for a very long term goal of protecting the environment?
Shame he went on that tangent. The obsession with "green" regulations is one of the reasons why UK is in long-term decline.
Too much reliance on exploitation and resources of others, never building anything on their own and short sightedness, not to mention "shady" alliances.
Being a worker in the 1920s was awful. We live in unimaginable luxury now with less backbreaking jobs and live in better health longer.
massive cope
compare UK now to 80s or even 90s
How come my grandad was able to buy a nice semi detached house and raise a family working in a car factory, none of which exist anymore ?
@@dans2492If your Grandad was able to buy a house in the 1920s, he was exceptionally fortunate. Home ownership was considerably lower back then.
At the expense of future generations. It's all fuelled with debt.
Can someone give me the link to where "1 in 10 have no gas or power at least monthly" ?
I can't find any poll on that
Edit: I did find it actually.. also I thought he meant people get outages, no it's people cannot pay their electric bill so the company shuts it down
00:00 📉 Great Britain's economy has declined since its peak, with real wages falling and household incomes not expected to return to pre-pandemic levels until at least 2027.
06:43 📉 The UK has faced a significant slowdown in productivity growth since the 2008 financial crisis, attributed to underinvestment, outdated technology, and workforce skill mismatches.
10:37 🏛 Income inequality in the UK has widened, hindering economic growth and social mobility, exacerbated by high taxes, student loan debt, and low-skilled part-time jobs.
15:01 🛢 Brexit has led to a reduction in the UK's trade openness, impacting manufacturing sectors and productivity, with short-term policy decisions conflicting with long-term economic and environmental strategies.
Australia also had 4 PM'S within 5 years in the 2010s...hardly "unprecedented."
You can provide whatever data you want, but the moment the EU allowed all the rif raff countries in the Eastern Block to join the EU, is when I saw a huge decline in UK quality. By 2014 I could no longer get same day or same week NHS appointments, then it creped up to a month and so on. What no one is talking is how many people were in the UK to make as much money as possible, this meant that many claimed back their taxes and went back home where they purchased their dream homes cash, and then in addition a few rental properties too.
Properties in the Eastern Block used to cost between £3,000 to £5,000, this were flats, so think about that. When the money started to pour in, property prices shot up to 500% and 1000%. There is a lot of data that has not been looked at, why opening the flood gates was not a good idea for the UK. The UK was and still is, first choice for economical migrants.
The UK land mass is the same as Romania, the population is almost 4 times of that, and larger than France who has a much bigger landmass than us. The UK infrastructure just can't handle the current population. The UK has an old mentality and did not keep up with demand.
You only have to cross the Channel to realize the UK is performing badly. Though it is plain to see without the need to get your passport out.
In France, Germany and other countries higher education is either free or very affordable. Fees per annum for example of € 500 as opposed to £ 9000 in the UK are common. In addition governments prioritise training in shortage professions and trades. Recently in France 🇫🇷 optometry was short of trained personnel so government gave aid at a regional level for training of optometrists.
Meanwhile in UK, we have had a shortage of doctors and nurses for decades. Yet still expect students to go £100,000s in debt for a job that pays under minimum wage at the end of it. Almost as if they want to flood the country with dodgy doctors with questionable paperwork from abroad.