The UK Inflation Problem Just Got Much Worse
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- Опубликовано: 14 май 2024
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Jeremy Hunt has announced the UK Autumn Statement which reduces taxes and increases wages, pensions & benefits.
Rishi Sunak and the UK Government are busy congratulating themselves on having beaten inflation while the data shows the complete opposite.
The new pay increases and lower taxes are only going to make the UK inflation problem worse by pushing the wage - inflation spiral further.
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Hi Sasha - what happened to inheritance tax - Jeremy Hunt was supposed to scrap it - to help them with elections ?
The British think the BoE is great.
Being established first they think it makes them superior.
Superior useful idiot cannon fodder
The reason UC is going up 'ahead of inflation' is because UC increase last year was below inflation. this is my understanding/remeberance as someone on ESA. Those of us on benefits shouldve gotten a 9-11% increase n we got 6% increase. This SHOULD be checked because although i am very much interested from a selfish perspective and hopefully thus retained the correct info, some of my myriad symptoms include cognitive issues such as memory loss and brainfog.
Surely this can’t just be free money?
Sacha promoting webull...makes me doubt his ethics tbh. They are Chinese based ....you really trust a Chinese company?
Worst thing is the knowledge that if you don't get at least a 7% pay rise this year despite the bad market, you are literally taking a pay cut
In all fairness, this is no different to what it's been since 2010, where most people have seen pay decreases in the 20% region despite the hourly rate "rising". Hell, arguably it's been like this for over half a century. People often harken back to the 50's/60's for stupid reasons, but the numbers have shown for a long time that if pay merely kept up with inflation/productivity and no higher, people back in the 50's/60's were getting an hourly rate in today's terms in the region of £22. It just makes a complete mockery of the so-called "minimum" wage and goes to show just how much the working class is being ripped off to fund dividend payouts and CEO indulgent lifestyles.
Yet still there are people willing to go to bat to protect the rich's right to rip us all off, having bought hook, line, and sinker into that false belief that they themselves will one day make it to that level because they're so much harder working than all the rest of us leeches who supposedly want to live the good life off the near non-existent benefit payouts because we're so work shy.
Even if you got that. You still got a pay cut as the tax bands are fixed
Probably worse than that. I don't know anyone who got much more than a 3% pay rise last year. So even if they were to get a 7% increase that would be on a wage that was effectively a 7% pay cut the year before.
@dashcamwarrior3001 And yet according to this chap the employers are spewing out pay rises like money is past it’s use by date.
Makes me giggle how they always claim to, 'make work pay'......
One relatable example is teachers. They had to go on strike several times to get 6.5% and benefits are going up by 6.7% 😂😂😂.
Ridiculous place this country.
Thanks for pointing that out. Literally contradicts what they say 😂
True, I'm shocked they didn't raise their salaries (referring to teachers). The world is weird
Yeah but 6.7% to someone benefit isn't that much compared to a person 1500/2000 a month wages if people claim UC they will get about 360 a month.
@Chappers.Gaming obviously.....it's still a slap in the face for every worker who the government are 'on the side of'.
@@mrmeldrew693 of course it is they didn't wanan pay NHS staff more they want to privatizes the NHS one day
When my wage as a nurse becomes close to either minimum wage or working at Tesco I’m leaving the profession. Less responsibility for same money.
Exactly this Lesley, I don't do a job anywhere near as important as yours but am in a senior corp role and whenever I see the minimum wage go up significantly all I'm thinking is about how the floor has been raised so I'm just closer to minimum wage than I was before.
@@lolmeercatz10 as I hope for minimum wage to increase I also think for the responsibility I have in my job I should be paid for that
As I watched todays budget bilge I said to myself Sasha was right, these charlatans would take the credit for something they didn't do and hurt the disabled as a further punch on the nose of the British people. Well done Rishi Rich Sunak
And also they blame anything wrong that even they did on international factors
Seen this 10x already and im only in my 40s :D It's the tory way , labour are not much better , the facts are the UK is performing way worse then its competitors
@@snozrick And why? The Tory party has had nearly 14 years, Rishi Rich Sunak is out of ideas and Hunt will leave before the next election. So to say Labour won't be much better is irrelevant, anyone will be better than the Tories
You spelled his name wrong it is Suckit
This is what the Tories have been doing since David Cameron got into office.
Post 2008 unemployment figures were _horrendous_ and wouldn't look better any time soon.
The solution? Anyone unemployed longer than X period is no longer considered unemployed. They were "out of the workforce" or some bullshit like that.
Month A unemployment is 8%. Month B, unemployment is 6%. Not because they found work, but because the numbers are so bad, they decided to drop them off the list.
:)
Good ol' Tory principles. If you can't improve the numbers, change how you calculate them, and call it the same thing.
Bullseye!
Doesn’t matter which party , they are all owned, the expenses scandal showed what a corrupt bunch of useless…….ts they all are.
In this world, there are lies, damn lies and then there's government statistics.
dropping people from unemployment stats is normal. but the setting of that crossover number depends on administration and politicians.
Just like changing the defintion of poverty. Soon the only people classed as living in poverty will be the homeless on the streets who lack a tent!
No need to add "lying" or "scumbag" when talking about a politician, those things come pre-packaged as a part of the politician bundle.
Is water wet? 🤣
@@oldguy8078is the pope Catholic?
organized criminal cartel is more accurate
@@guyr7351 🤣🤣
Fire is indeed hot
Inflation is an engineered wealth transfer from public to corporations.
The banks are at the top of the pyramid.
@minesadab company's like black rock and vanguard are the ones who own the banks
It hurts all, but yea rich public and corps have means to not be affected as much
It’s a direct transfer to the government, and it’s backers. The Inflation is coming from all the money printed during the pandemic.
@@darwinjinaSupply inflation doesn't hurt the people receiving the free/discounted money (via low-interest loans).
The banks have printed all the pounds that exist out of thin air and are charging interest on every single one. What a scam!
i work for a government department in "finance" i can assure you our senior leaders are considerably more concerned with diversity, inclusion "wellbeing" and micro aggressions than they are about any actual work.
The same goes for every public sector department
That old chestnut
The abysmal state of people's livelihoods is what's causing so much "micro aggressions" in the first place
When I saw this video 16 minutes after it was posted, I said WE ARE SCREWED! And I hadn't even seen it yet.
I work for one of the major coffee chains and have done for over 15 years.
The problem is they give you a contract which discloses a 10% reduction in your hours should the shop not need you.
Every time they have to increase wages, they immediately reduce your hours so you either stagnate or loose.
If you are on your reduced hours long enough they try to change your contract to suit the business.
They are even starting to install pre-programmed machines (Nothing more than a glorified vending machine).
Times are getting scary!
Best video in the last few months.
Would be good to hear how the situation could be improved or what we should do to prepare for the discussed future issues.
All I was thinking whilst watching the news was what's Sasha going to say about this 😂
Speaking as a 59 year old on less than 12k a year... a cheap bag of frozen chips have gone from £1 to £1.69. Cheapest beans 27p. That's not really the problem. The problem is rent is 57% of my income, and that's pretty low for my area.
Rent is crazy.
I personally think you shouldn’t be able to purchase a second home unless you live there for an amount of time.
Too many people using housing as an investment.
Bravo, Sasha. Totally spot on. As an employer of 40 people, I will have to adjust my pay structure in accordance with the £24,000 a year minimum wage and consequently I will need to raise my prices in order to recoup the extra £1000 a week I will need to pay my staff, and that is on top of the extra £1000 a week from last year’s increase. The problem then is that many of my customers can’t/don’t want to pay the increase. I may revert to fraud, it’s easier
looool i shouldn't laugh but honestly if you don't laugh you'll cry
If your business revolves around minimum wage your kinda doing it wrong if your not increasing your price structure each year to cover your cost base. All your competition will be doing the same.
@@craigspence1890 Yes, hospitality, sadly. You schmucks just won’t pay £6 for a coffee will you?
I'm glad I'm not alone in my distain for this budget.
and distain for everyone in government?
Imagine your disgust when you realise that Labour is exactly the same as Tory. I would sincerely hope I'm wrong on that assumption
@@andrea2007andrea200713 years of Tory auterity, lies and corruption. Our public services crumbling and no investigation into the Tory PPE scandal. How are Labout the same?
@@andrea2007andrea2007 No. You are right. There's now no point in voting anymore.
All the party's have the same agenda. I rich themselves at the expense of the average working person. While screwing the country and patting themselves on the back. Untill they ban lobbying and make them disclose all transactions, contracts and under the counter dealers that they thir families, distant family members or friends benefit from and stop them working for company's or corporation once they leave office we will just get the same. Untill the population get to the point they can't service by working anymore we won't get change.
The OBR would have more success predicting next week's lottery numbers than any economic forecasts.
The thing that pisses me off is them saying they're beating and cutting inflation yet, we'll never ever see a drop back to where it was. If you want to be useful, actually get prices down again.
Parting themselves on the back when I just got an email saying my energy prices are going up. Wtaf!!!!!
With the revelations around the COVID enquiry and Rishi Sunak himself making comments like "let people die", it's clear to see where the Tories stand when it comes to supporting hard working Britains. This country couldn't be any more fucked if we tried.
That’s just a smoke screen giving the public something to distract them from. The big crime was pushing that poison on the people. Excess deaths keep rising and nothing is said in the media or by the government other than MP Andrew Bridgen.
The agenda is so evil most can’t comprehend it
UK politicians, taken the Great out of Great Britain.
The Tory party to be precise
@@Esta-Beed Yeah LMAO, just wait until labour get into power, it will be a whole new flavour of incompentence
And the Brit
Don't care anymore
All three parties have WEF members carrying out WEF policies so we are not a democracy as such and we can look forward to owning nothing, living in 15 minute cities, with our digital ID's linked to our CBDC wallets, health records, ESG scores whilst eating bugs, because we need to save the world and MUST COMPLY, or our wallets will be locked.
Its weird how the uk is stagnating and at the same time has very low unemployment 🤔
Yep. The past 2 years have been very unique in terms of how economies around the world have performed. Will be one for the history books.
2 million is on the sick
@@mattx4253 Good point, but I doubt if anywhere near 2 million of them are actually sick, just swinging the lead.
@@kw8757 yes obviously. It’s like one in 20 workers off sick? That’s crazy
@@kw8757there are people playing the system but people who are genuinely disabled or otherwise unable to work are going to be penalised for it and are going to take the brunt of the public’s anger
omg! i read the work capability assesment blurb and it says 'rather than being automatically deemed unfit to work' That is so effing untrue!!! You have to fight bloody hard to prove you are unfit for work. That vast majority of rejection appeals (over 70% last i read, years ago mind) get over-turned!. My assessor said i was fit for work. The judge n doctor at my appeal took one look at me n slapped the company on the wrist and demanded the gov leave me alone for a minimum of 2 years -the max by law. The process caused such a deteriration in health that i went from being 'sofa-bound' to being 'bed-bound' and unable to process/understand/speak my language for an entire year! That was 9-ish yrs ago and from what ive heard, its only gotten harder up until the covid era. Blaming people who got long covid for not working and creating the 1mill empty jobs is not the solution, not their fault. it was the fault of uk covid policies that put them at risk -an island FFS!. And frankly, its not even the 'fault' of people with long covid being disabled, it that thousands of migrants left the uk during covid era and went home. They havent returned because of the toxic anti-migrant environment left in the wake of brexit^
So elderly tory voting population gets 8.5% n disabled get 6.7% when last year we got half of what we shouldve gotten inline with inflation -sounds perfectly fair to me, both groups on fixed income and noway to earn from a 2nd job, amiright?!?
Be interesting to learn what pensions went up by last year^
The wage price spiral could simply be broken by companies accepting slightly lower profit margins and not increasing the prices. It’s not a wage problem as people can’t afford to make ends meet, it’s a greedy corporates problem.
Yes, it's a greed problem.
Say you don't understand the simple explanations in this video, without saying it bravo nice cope btw
@@roybobxiv8996 How so? There's a wage price spiral, meaning companies increase their consumer prices because wages are going up and consumers demand higher wages because they cannot afford the prices. Seems like a two sided problem to me. To break the cycle either the wage growth has to stop or the increase in prices has to stop. What part did I get wrong?
2 years ago the Hungarian (tiny Eu country) government did exactly the same. Before election they cut taxes on large scale to win the election. We ended up a 25+ percent year to year inflation rate.
Bravo Sasha. Keep fighting the good fight 👍
Great job, Sasha! Keep going.
Thanks Sasha for your content and insights, very useful as always and always look forward to your unique viewpoint. I also love your hair ♥
Great video as usual. Could you break down wage rises into more sector by sector analysis in your videos. There is a wage price spiral in some area's, but there are a lot of area's where pay is static (and therefore being cut in real terms), which is causing a recruitment/retention/productivity crisis.
Cardven token is awaiting major CEX listings. Its possible to hit 100x this year.
Sasha your humour is too good.
I was in Poland yesterday at the Salt mines near krakow and some retired British bloke all he could talk about was the boats coming over 😂😂😂. My faith in the British public is worse especially the baby boomers who are some of the most entitled people ive ever met, this includes my mum!
Do you own your own house ??
Illegal immigration is a real problem that the uk has atm
@@duggdog9102 I did, I sold in 2020.
Hi. You were in Wieliczka salt mine. Is 50 km from where i live. Cheers ! :)
@@domisPL_01 yes that's the place. Loved it, the sheer engineering and craftsmanship of the mine itself is something to behold.
As a small business owner with 5 employees, my take
1. Rise in minimum wage, won't at moment affect me at present - but to take on a new employee, the hassle and cost to train them up is prohibitive I would try to go older and experienced.
2. It pushes All wages up as you can imagine a 40 year old with 20+ years work experience working next to a 20 year old with f@@£k all experience, it will force up wages. Big companies ie tesco paying Overton just to get staff. This forces wages up for all companies to retain staff ( ie doctors stating they can earn more at tesco)
3. Don't forget the 6% corporation tax increase on business means more pressure as well as wages to put up prices at a time when customer confidence if failing. Inflation falling as people are not spending
4. I pass on price increases if I can or I go bust.
This is not a Conservative government its labour light. Can they get any worse.
This absolutely IS a Conservative Government! It has been since 2010!
Meanwhile, Labour have transformed into Tory lite
The issue is that they don’t seem to understand the affect of their inaction, and it was called ages ago what would happen if they did next to nothing.
It’s happening now, and a lot of people are going to be in big trouble. My mortgage as it stands is going up by 1800£ in December; when I remortgage it will likely be going up by around £1200 a month, I can afford it. But many many people can’t, and when the average person with the average salary can’t cover the average bills (where we are heading), shit is going to hit the fan.
Is this the part where you still vote for a Conservative government come the next General election? 😂 countries gone mad
@kylegriffin8783 Ooooh bless a salty little victim. Work hard contribute and don't winge and moan and you will get somewhere in life. As far as voting I'm so disappointed with politics. This may shock you - from my first vote until 2010 I voted Labour without question thats over 20 years. There is a saying a liberal/ socialist with a heart until 30 and then you get wise and your brain kicks in - then you become more Conservative. To me I don't bother now much the same. I would only vote to keep out an idiot like Mr Corbyn.
Work hard, don't be a victim, if not happy - leave start your own business - get used to 60 hour weeks and no holidays - l8fe is not fair so get used to it.
If you are a public sector worker or have a non job working from home feel my contempt.
UK GOVERNMENT DEBT IS GPING CRAZY
IT WAS LESS THEN 1 Trillion Pound in 2010 now it is almost 3 Trillion Pound in debt.
Cheers Sasha, much appreciated as always!
All the major shopping brands, employees are no way on 30k or above... The fast food chains / restaurants are not even paying staff 30k a year.... And yet most like 5-8 million people are on around 18-25k a year
This needs to be seen by the general public!
The whole situation didn’t make any sense to me , now I understand their three card trick, many thanks Sasha! , I think by the middle of next year thing are going to get very interesting.
I genuinely mean it when I express my stress and concern regarding the market crash and high inflation, particularly in relation to my retirement. I have been experiencing losses for quite some time, and while some may argue that crises can present opportunities, I am feeling overwhelmed. However, I understand that investing is a long-term endeavor, and it is crucial to maintain focus on the bigger picture and the long run.
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I believe Cardven token will go 100x after launch on Binance
Thankyou!
Wage inflation spiral is complete BS. Our goods are made overseas. I was told that my pay needed to be the same to 'keep inflation low' complete corperate bs. This April, if I don't get at least 10%, im quitting.
The long con can continues, ppl are being fed more and more BS by the false prophets in public office.
Why is it that when inflation hits the price of goods and services can rise without issue, but the price of labour can't rise because that is "bad for the economy." If a business can charge 10% more for a loaf of bread, why can't I charge 10% more for my labour? It feels like inflation is allowed to benefit companies and the already wealthy by taking money directly from those with less.
I was waiting for this break down 👀🤔
Thanks Sasha. As usual, the go too site for what shit is coming down the line
I don't know who has been getting these inflation busting pay rises? I am obviously in the wrong job.
Energy prices as were announced in October 2021, 4 months before the SMO
totally agree with you on the protest bit
Hey @SashaYanshin, how can one educate themselves more about what's happening in the UK? I watch your videos and I am learning so much, what other sources would you recommend? What books, what journalists, what other shows speak as you do?
Try Manecco64
Whats the solution? I love the way you analyse but would be good to know how we should fix this
Food price inflation rarely gets mentioned when talking about general UK inflation but it is still crazy high and is not an optional expense for anyone. The big jump in minimum wage (which is what the vast majority of supermarket workers are on) is going to push up food another 10%. So for a minimum wage worker, of the 10% increase, 30% will be tax/national insurance and the rest will likely disappear on the weekly food shop.
Anytime the minimum wage rises, the working class see no benefit whilst the middle class gets shafted
Government minimum wage rises, I agree are inflationary because they are not tied to improved productivity and only rely on new starts on new terms and conditions or job number lay offs, which will take time to show iin the data . But negotiated wage rises by companies are tied to work condition and terms/ perks changes !
I still think people are latching onto 2019 dreamland. Things have never been worse than what they are today and you're right nobody gives a shit about it, people are more concerned about affairs in other countries more than they are in their own. The older I get and the more I learn the more I start to realise how doomed we truly are.
We are f...d, and most of us are too stupid to even notice this.
The collapse is systemic and started with the 2008 banking crisis.
Well you can be worried about more than one thing but nobody seems to want to stand up to the government charlatans and crooks
@@zsuira it should be mandatory for people to read the seasonal statements🤣
@@jeremyboughtono2 systematic for what hidden agenda they've got planned that's what worries me its not about what we see it's more about what we don't see! and why has no one bothered to fix it since 2008, they seem to care more about their reputation than they do doing the job they are paid handsomely for.
I love how NI was increased to pay for social care and the NHS and now has just been reduced... With Social care and the NHS being at best the same but probably in a worse place so makes you ask why did they up NI if they weren't going to do anything with it.
But we know the NHS needs more money and needs to be more efficient. Maybe they are playing the long game by reducing their services, which will push more people to private health care (or none at all) and allow more private companies to take up the reduce services. This will open the door to the American model: for profit medical services and no more NHS.
This would be a worrying model for the UK and we will have lots of people struggle to survive due to them needing medication which cost not a lot (at the moment) but would be a lot more if we go to a for profit medical system. MPs will have the knowledge of this and will be able to use this to their advantage and buy stocks at the right time.
@@darrellhitmeup The NHS doesn't need more money. We spend more per capita than Switzerland (which has a health service second to none). Its woeful unionised mismanagement thats to blame
@@DavidBrown-bs7gg The EU14, average total health spending between 2010 and 2019 was £3,655 per person (this includes government, as well as out of pocket, private and charity spending). In 2019, the UK spent £3,055 per person, 18% below the EU14 average. Incidentally unions do not manage any company let alone the NHS.
@@DavidBrown-bs7gg as above @darrelhitmeup replied; It is looking like UK is continuing the path of the US healthcare system model. US spend per capita on healthcare is largest in the world, and look where it stands amongst the majority of the population (lack of access to healthcare).
To line their own pockets
At this rate, anyone making 30k a year now will soon have 16 year olds on that wage, no point in saving because it will liquidate in a year
Love this channel.
Brilliant analysis and commentary!
That Real GDP chart is one of the most misleading things I've seen in my life. just wow
The chart is so bad I *almost* don't blame the PM and their staff for misinterpreting it.
Brilliant analysis as always and I just wish more people, especially financial journalists, could understand it. How about a video on the newly announced energy price cap and how that has completly screwed the energy market?
Journalist job is to bamboozel the British people along with the politicians for their Elitists parasitic guvnors.
Delighted to watch your video Sasha, really insight at least to know if this is really a Christmas present 2023 as provided by the British government.
Spot on.
I have a terrible understanding of economic analysis, but you explain the situation and forthcoming storm, in a clear and concise way. I am reasonably shocked there wasn't a mention of a 'thunderdome' in the chancellor's budget, though maybe it will be funded by lottery grants?
Well done Sasha
Why Ofgem is increasing the price cap if energy cost has fallen?
Love your videos Sasha!!
Thank you! Glad they are useful!
You do such a good job of breaking it all down in detail for us .There seems to be something missing in your analysis ref the wage price cycle. If the inflationary drive is rent mortgages etc, then surely the wage increases aren't driving prices. Its the set costs of owning renting. My wage increases in the NHS have been swallowed up by recent increase in my mortgage and I have less available to spend. Surely direct control of the underlying causes of inflation rather than squeeze the shit out of the public till there is a contraction would better? Rather than blaming it on the low paid and struggling.
Great vid. Thanks for talking my language.
👍
Thanking you truth bombs
Well done . . . .
Love your videos man 😂❤
Excellent analysis as usual.
I will be the first to admit that we should all get more money in our wages, but if they keep increasing the minimum wage it will become unfeasible to run a business, or the product will cost so much we wont be able to afford it. The idea of everyone getting the money so they can live was a good one, but the business people were never going to pay for it.
It's feasible. It just means the higher ups can't be greedy anymore. That's the real problem in all of this: Greed. Plain and simple.
I don't know man, If minimum wages go up and the business can't pay the increase to the employees what do you think happens ? The owner, greedy or otherwise, will end up having to do something to fix this new deficit, and more often than not, this involves firing someone to be able to pay everybody else. Each and every single time the minimum wage is increased you will also end up with business having more trouble hiring people, expecially low-skilled labor which are the only ones really affected by the minimum wage increase as higher skilled workers are paid higher than minimum wage (I hope).
Rather than minimum wage, I'd target inflation so that the current wage is liveable and people feel more secure with their savings.
@multidavid7473
Exactly my worry, my boss employs two people (not including himself), they run a small catering business out from a pub's kitchen, one out front serving food, two in the kitchen; washing dishes and himself cooking
People already don't have much money to spend on a day out with friends or family. Can not fire someone because it is the bare minimum amount of staff, can't afford to raise wage cause buying ingredients and paying to use the kitchen hasn't gone down, clients can't afford to go out once a week for meals with family or friends because everything is going up.
Soon there will be no small businesses or variety, just massive corporations selling the same awful quality products for high prices.
Brilliant!
High risk high reward strategy from the Tories, all they care about is maintaining control of the government. People will see wage increase and that might be enough to get them votes, at the cost of the economy. The Tories have proved shocking at managing the economy thus far, so this aligns with their previous performance. If they lose the vote then Labour inherit an even worse economy, which they will use as a talking point until the following general election.
Thought this budget would be good for business. I thought that because they said it would be good for business.
Or is it just good for big business and forget the SME's
I see now why they stopped making Yes Minister - there was too much competition from the UK Government. I really hope things improve for you guys.
Also, Sasha, could you take a look at the economy of Austria? Given that all other NATO countries are spending more on defence, will Austrian economy not allocating as much of their budget on defence have a competitive advantage in the coming years?
Excellent analysis.
🙏
@@SashaYanshin Your analysis is excellent and I agree with you that this government thinks we are all dumb...
well, you tell it how it is dude. I kinda agree with your take on it.
I appreciate your point about pay rise-inflation spirals.
However, that would only apply if this was a demand-led inflation.
It is not.
It is underpinned by (Putin-induced) rising fuel and food prices - essential products where people no choice but to pay the increased cost.
The higher prices of non-essentials (luxuries) have come about more slowly, as the impact of higher food and fuel costs work their way through the supply chain.
Ironically, the ill-conceived and totally unjustified BoE interest rate rises are compounding inflation . . . and were never going to have any meaningful impact on this type of 'supply-led' inflation.
People are struggling.
Far from helping, the BoE has simply added insult to injury, stifling the economy and causing unnecessary suffering to families and businesses.
Provided the BoE finally cognates reality and brings interest rates back down to ~2.5%, the economy can start to breathe again and no further 'significant' pay rises will be needed . . . and, more to the point, inflation will continue to fall, due to:
(1) The natural reductions in food and fuel prices
(2) Reduced mortgage rates
(3) Reduced business costs
(4) Competition in the market place, as retailers vie to re-establish their cashflow and customer bases
Finally some sense. Why do even the "experts" insist on pretending that all inflation is the same. And also that this wage price spiral exists. A convenient excuse for keeping wages down. I'm barely past thirty and in the last 15 years all we've heard is, we can't afford to give you raises because of the 2008 crash/government debt/Brexit/COVID/Ukraine. It never ends! There is always an excuse. Yet the people telling us this are always giving themselves raises!
Tell companies to reduce their profit margins and stop paying too much to share holders and CEO bonuses......GREED is BAD!
can we have a video on how the government could actually solve inflation in OOHC's and rent? and the implications on the housing market etc. @sasha
When you run a country for decades that spends on imports more than it receives in exports there's only one outcome no matter what - bankruptcy.
Sadly, they all will complain when goes pop!
Great channel 👍
Thank you!
Inflation isn't the only issue. Work should pay. Workers need to be valued above pensioners and benefit claimants. Of course the best way to do that would be to slash taxes and government spending. But since they're not going to do that, workers need to be paid more.
It needs to be balanced out though. Otherwise we will just be stagnating with high wages and hidden inflations in other sectors within the UK. So all in all it makes our buying power even weaker....... Which is crap
@@HShangothe UK is in no danger of high wages after 15+ years of stagnation
Just a point - today's Pensioners were yesterday's workers! If you are fortunate to live long enough - you too will one day be a Pensioner. Be careful what you say, fate has a habit of teaching hard lessons.
@@janestoodley2300same with benefits, a lot of ableism is directed at people who can’t work but a lot of workers are one bad accident away from being the same position
You are espousing Austerity once again. Austerity has ruined this country. It does not work.
My area in the north east working people can not feed there families, they brought in zero hour contracts and employment figures went up even though people dont know what there hours will be week to week.
This is why crime has increased.
They talk about putting working wage up but thats a short term fix as peoduction costs go up, transporting good prices goes up that means shop prices go up and we are back where we started, the only winner is that the tax office gets more tax.
They should cut tax to industry and get prices down, this would bring in more industry from abroad and innovation.
Politics in the uk is corrupt there all linked to big business.
Am I right thinking ONS in Feb24 will revise weightings of the CPIH model, whereby the OOC changes will have much more effect on inflation ?
And the energy price cap goes up January then so will inflation
Price inflation is just the delayed result of money supply inflation with some short term volatility superimposed (e.g. energy shortage).
I'd be interested in seeing what a Sasha Alternative Budget would look like 🙂 Maybe a future video?
yep lol thats what i want to see
How would you fix it then?
So in your opinion if it keeps going like you said, what will break?
"The chancellor congratulated himself"
That is the essence of Jeremy Hunt....
😂😂😂❤
I completely agree that these will impact inflation however I do think it should make inequality temporarily even if long term it will be an issue.
1:42 LOL I just spat my tea across the room thanks.
I also don’t know anybody that got anything more than 3% wage rises in the last 5 years, but I do know one person who awarded himself a 23% rise this year,I feel like I’m flogging a dead horse with this argument, but the 8% wage inflation is a squeed figure because only a very few number of people actually get anything more than a couple of percent.
The one thing the Govt did (continuing Liz Truss policy) was to continue the £2500 Energy Price Cap, without this the Oct Cap would have £3500, Jan Cap £4500ish which would have caused a much higher inflation rate accordingly....They subsidised our energy and stuck it on the National Debt which we will pay handsomely for in the years to come
If you don't work for government, and you private pension has an inflation cap of 2.5%, it's a killer. Those still growing their SIPPs can only hope longer term that their investment choices compensate for real inflation.
That is the overall inflation. What about inflation on food, and other items?
It's one of those bigger picture moments.
Changes to NI is £37 per pay check for most people? Not huge BUT the difference between affording a full grocery shop or living off of instant noodles for a worrying portion of families with food inflation sat around 10%.
The only things the UK gov can really do right now is try to implement policies to strengthen the pound so external factors and costs of bringing raw materials, grains, gas, fuel and general costs go down...
your presentation style is ............. awesome
Thank you!! 😂
Agreed, it is cathartic to see others be frustrated by the endless “The Emperor's New Clothes” and “Stone Soup” that is living in the “free world”. But also disheartening to see so many people passively or actively look the other way, because in the short term it is not their fight.
Wow. This was really interesting. Keep it up. This is a national service!