"Surprise Surprise!" | Labour’s £20 Billion Black Hole In Public Finances
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- Опубликовано: 16 окт 2024
- Talk's Russell Quirk and Taxpayers Alliance’s Joanna Marchong discuss Chancellor Rachel Reeves set to reveal a big black hole in the country's finances in a speech on Monday - with a suggestion this could equate to around £20bn.
Her update will reveal “the true scale of the damage the Conservatives have done to the public finances”, a Labour source said.
They did not deny reports that an early assessment has found a nearly £20 billion annual gap between revenues and funding commitments, including in areas such as asylum and public sector pay.
Russell says: "Looks like tax is going up"
#rachelreeves #labour #russellquirk #talktv
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20,000,000,000...and still giving financial aid overseas, still handing red carpet treatment for illegals and legals
Prepare to pay more taxes
How can a 'rich' country (as we are described) have a £20bn black hole in it's finances, that is not being rich that is being in debt. Liebore's first instinct to increase taxation, what a shocker.....said nobody ever.
John Wayne said : Life is tough but it's even tougher when you're stupid.
There’s always money for war & sending money for overseas aid . All from the Treasury, magic money tree.
Always billions for newcomers!@@nicholasglanfield9221
Absolute hate what this government has done and is doing to us and our country.
Keir wanted a second Brexit referendum, can we have a second election?
NOW and vote Reform.
@@paulineashcroft1485 I don’t like them but i will what we’ve got to lose
Not yet, give it more time. You have to give them (labour voters) time for it to register in their wallet.
No, you lost, get over it!
Nope. Labour won. Tough
well done labour voters, Country gone in 2 weeks of Labour
Tories and labour same government
You know what to expect when you vote Labour.pain and suffering 😢
I think you mean 14 years of Tories.
@@philiptravis5078exactly - the Illusion of choice designed to maintain power
Soon as you realise we don't have much power and all governments are your enemy then you wake up.
It's unbelievable that anyone would be surprised by this. It's in Labours DNA.
Think about it. They are going to hike taxes to the highest levels in history, increase the state even more, and it going to create growth. Tell me when growth has ever came out of that.
Tax and spend. It’s the Labour way.
@@davideyres955
It's the Tory way.
Or did you miss the Tories increasing your taxes, and shoving the money into their own pockets?
So how do you propose they repair the damage to our systems after the Tories tanked our Economy?🙄
We have the Labour Welsh Assembly in Cardiff planting 25 million trees in Uganda.
VOTE OF NO CONFIDENCE, GET HIM OUT
Who's going to do that? The country has given him so much power. There's no real opposition.
Starmer shouldn’t have won in the first place. We can thank the people who sat on their backsides on polling day for not voting. By not voting, these charlatans now running the country will think they have been given consent by all the country to do what ever they like.
Who do you want instead, Trump’s lapdog Farage 😂
@@petetasker8599that’s a good shout. Make Great Britain Great Again!
@@bukton10 that's the thing, when a government makes a decision, people just comply and thinks it's not worth it, but actually if they unify and fight back you might get a turnaround but people here just rather be a good sheep and struggle through silently, and that's the exact reason why government can do anything and get away with anything
She is naively surprised....And labour want 16 yr olds to have the vote! God help.
I'm glad I didn't vote for them! Cannot believe how many people did. Especially considering the fact Kier Starmer refused to tell people what a woman is!!
Who did you vote for? Because if you voted for Reform you split the vote and put Labour in power. And this 20 billion black hole is the Tories mess.
😂😂 Yes i so wish we had another 14 years of the Tories to enjoy..
Or what taxes were going up. Yet these so called 'intelligent' Labour voters kept telling us we were all thick and R.... for voting Reform, yeah right!
@@catherine_england7312 which came from covid,bet a lot want blaming tories when they paid you to stay home,where do you think the money was coming from,plebs
@@sheeliewoo You will probably end up wishing that for real!
34 PER CENT, NOT 36 PER CENT. WE SAW THIS COMING A MILE OFF! LABOUR WILL SAY ANYTHING TOO GAIN POWER! SIMPLE AS THAT!
Been saying for 3yrs or more, they have been taking lessons from the Democrats Party (USA)
You do realise this is pure speculation? The phrase 'some experts believe' is very vague. Which experts exactly? It's almost like the broadcaster is pushing an agenda which you seem to be eating up willingly
@John-gy1bd Less than 10 million people voted Labour. This was less than in 1987, when the Tories won by a 102 seat majority!
You need to go through the Tory manifestoes and see what was true and lies in that and compare.
@@waltermcphee3787 I do not.
Rishi warned you all...... It was inevitable, to pay for all the migrants that Labour want to keep in the UK.
Rishi pishi stole our taxes and allowed the migrants in and to make things better for ppl like you he opened the gates to his natives through visa schemes
Yeah, because Rishi stopped the boats from coming over. He was about as forceful as an asthmatic mouse.
@@b0rg1010 😂💪🏻
It’s not paying for migrants it’s sorting out the mess the Tories have left behind after siphoning off billions of pounds of our money to their mates.
Rishi, are you joking ? The tories would have done absolutely nothing to stop illegal immigration. They'd have done it years ago if they wanted to.
Never seen a Labour politician who didn't want to pick your pocket. Its the nature off the beast Borrow Borrow Spend Spend Tax Tax then Borrow some more Socialism a great idea till you run out off other people's money.
It's going to be a lot worse when I run out of my money.
@@alanbradley9621I'm starting to spend as I have no intention of giving them more from this house!
I call Labour the TSB party; tax, spend and borrow.
And capitalism is ok until you run out of other peoples things to sell. I think under Brown the economy ran very well. Until the banking system screwed it up, then the epitome of capitalism turned to socialism to bail them out.
The Tories have created the biggest tax burden we have ever had and the biggest debt... by a very long way and we get much, much less back. Meanwhile the rich are raking it in.
Lie after lie
Have to pay the boat people and all the wars in europe no money for this country
Don’t forget Rayners wardrobe.
😂😂😂
Gotta support the LQBTQ community as well.
Our future generations gotta be dogs and cats.
@@IeuanBevan. - Don't be a bigot.
No most of us dont believe in net zero. We know its a con
Labour voters fell for this one hook line and sinker.
And what would the Tories have done ?
@@markknight1011 we will never know
Reform voters split the vote and put Labour in power.
@@catherine_england7312 that was the point. There’s no difference between conlab
@@catherine_england7312reform was the only other true option labour and conservatives were no change
reform voters knew this was going to happen
Everyone but the labourers
@cha9165 reform voters knew nothing... they voted for completely unfunded policies which would be paid with fairy dust and hope lol
@@cha9165Conservative voters shouldn’t beep a word
Yes I voted Rrform uk & will from now on.
If only OUR taxes were being spent on US only. We would have pavements that sparkled, First class NHS, homes for all, thriving high streets, friendly bobbies on the beat, trustworthy institutions, first class schools, cheap energy and all communities would be happy and getting on. Instead we have a horror show, crumbling infrastructure, everything unaffordable, lies and manipulation from above, indoctrination, billions being outsourced and shipped abroad in aid and wars and our way of life is being hammered. Something has definitely gone wrong along the way, yet millions still falling for the uniparty trick.
Why are we giving money to other countries when we don’t have it? Are they borrowing it to give to others? Vote Labour get a mess of lies, vote Reform get reform.
Yes we borrowed £120 billion last year to fund Ukraine foreign aid , illegals, and propping up dead end jobs with tax credits to keep unemployment down
They're just giving it to other corrupt politicians!!
What policies are reform party advocating to be implemented from their manifesto?
Pakistan are important to the British Government , Trillions of us dollars , and arms that makes ukraine pale into insignificance. I've yet to figure out why?
@@Learn.40907 didn’t understand a word, well, I understood the words on their own, just not together like that.
Labour Voters Are You Proud of Yourselves NOW
This isn't labour its what tories left behind
@@jimsmithcivils8459have you not clicked yet that they're the same party
Labour voters can’t speak English
So I doubt they’ll be able to read this
@jimsmithcivils8459 you are pretty slow aren't you
14 years cannot be put right in 3weeks impossible
We need to some time to get their ideas momentum
Nice work all of you who voted for Labour 👏👏👏👏 where is the getting the public services to cut bloat from all the pointless admin and management jobs?
Labour was the one who brought all the foreigners in
Thank you very much. I'm glad my vote has been getting alot of thanks last 2 weeks 😂 lol good. Suffer
Starmer is a liar!
Goes with his jobs..solicitor, politician.
They all are, grow up
Starblair :(
Have you only just noticed?
Oh! Who knew?
we are the only country that gets paid less than all the other so called rich countries, and we also pay more tax than other countries, were are people suppose to find this extra money? the illegal immigrants how are they going to pay this high tax? makes my blood boil...i need a break from reading all the horrible news
Right on. It is relentless this bad news. Something's going to break soon. These politicians are doing all this damage.
Hmm, i think that was the Tories..
lol, so our taxes go up whilst the boats keep coming.🤮
Do you people not keep up with the news? Labour have been turning boats back to France. Are now going to deport foreign criminals to free up prison spaces. Are now about to raid car washes, hair salons etc to catch and deport illegal immigrants, and more.
Well we've gotta pay for the boats some how
£10million a day for hotel. But the labor is saying they don’t have money, need to tax more 😢
@@kilakiki8900 Yeah, tax the wealthy.
@@catherine_england7312 they will tax the poor and working class
Definitely expect big council tax rises every year 😮and raid on pensions 😢
Council tax will go up to 10k per year specially in Surrey county 🍆💦
Nothing new though is it... 😂😂
It's what labour always do.
The Tories removed 90% of the funding from my city council.
well done the people of Wigan 99% voted labour TAF!
Coz the scruffs were brought up many moons ago to be labour because they were working class. There not even that now because theres no work there
@@mrb9849 LEIGH voted cons last election
basing on your scruffs scale they are below Wigan and have many weed smokers
I traditionally voted either Tory or Labour but this time I voted Reform and will do so from now on.
Labour shadow MPs have been meeting with civil servants since January. One MP was having daily calls with a Senior Civil Servant - they said so they wouldn't need a period of adjustment and could implement policy straight away - which we are seeing. So yet again Labour lied to us - they knew what the situation was, and although not great was better than when the Tories took over from Blair/Brown in 2010!!
Civil servants had been actively working against the Tory Government and actively working with Labour IMO.
Keir Starmer - approx 7.7 million in wealth. He has done ok under a Tory government, Blair mk2.
It's not that much. Anyone with a house in much of London is basically a millionaire from just that.
Tell lammy to stop sending our money to hamas…!
Wait you ain’t seen nothing he will send money to all Islamist preachers 😂
Lammy has our money round his belly and under his chin
Wealthy people will leave the country.What did we expect with this Labour government.And the stupid Net Zero madness.I don’t think that people will be happy when they have nothing.
You will have nothing and be happy
@@Mr-sn2ni That is the idea .The World Economic Forum want to totally run our lives.15 min cities and so on.They are delighted that AI will enable this to happen.
@@mrsmvcheek everyone in England already lives in a 15 minute city lol... That's what a city is.
You took an American conspiracy theory, stripped it of any context, and tried to apply it to the UK where it makes no sense
Good! They dodge their taxes. They can sod off for all I care!
Is it just me but i can't listen to a 20 something going on like they're world wise.
Not it's not just you.
Last 6 years of tories 16.5k millionaires left , already this year alone they are forecasting 9.5k to leave , that’s lost tax and jobs so even more taxed lost and the jobs lost puts more people on benefits 🙄
Vote reform
@@jasminehobbs6188 - You already lost the election, bot!
Starmergeddon incoming
Savillegeddon.
It arrived the day after the election.
Get rid of kier
Why? The last 14yrs of Tory government are to blame. Keirs approval rating has just gone up.
He'll be gone by December
Get rid of labour,two or three weeks in,and taxes are going up,and people believed them when they said they wouldn’t 😂😂😂😂😂
@@Bellend361 sheeple
@@Bellend361 Taxes aren't going up for average people though. They are going up for the wealthy and that's why the media are attacking this. And taxes were going to go up even further under the Tories anyway. Under the Tories taxes were already the highest since WW2.
It’s better to leave this country and go elsewhere. The cost of living and high taxes are unsustainable for us!
I am looking at Cypress or Thailand at the moment. Sick of this cesspit
UK wasted £450bn on Covid 19.
We have to stop saying 36% of people voted for Labour. Half the population didn't vote so only 18% of the population voted for them
It was 33.7percent to be precise
Exactly. It was 36% of the people who bothered to vote no 36% of the voting population
It was 22.8% of the total electorate. Many didn't vote this time.
@@dartskipper3170 Labour won 32-34% of the vote share and, depending of which source, voter turnout was between 57-60%. So even the best case scenario puts Labour's vote share at 20.4%. Please stop trying to make the Labour Party look like it's more popular than it really is 🤣
Something that has been forgotten is the polls predicting 40-50% Labour vote shares and ending up with 33.7%. The tories lost that election clearly, but to say it was an endorsement of Labour is untrue. Reform split the vote massively on the right and left the tories with 121 as opposed to 230-240 MPS. If the tories want to get back in the game Badenoch would be the best bet, with a deal with reform necessary at some point.
36% of the people are idiots. Well done voting Labour.
You had the choice of voting for Reform, and they were offering to increase the tax threshold to 20,000 quid a year. So that would have taken a lot of people out of the income tax bracket. While cutting the insane net zero insanity.
34% of the electorate that bothered to turn out inflicted this upon us.
Voting for one WEF shill, Starmer, because you don't like the other WEF shill, Sunak, is never a good idea.
In my book neither were worth anyone's vote, least of all mine!
More ore less the same percentage that voted for Conservatives and brexshit but here you’re now bashing the other side 😎
Well of course there's a ton of cash and jobs to save if that nonsense were scrapped.
People did but how our elections work is scandalous. Had nearly half the votes of Labour and more than Lib Dems yet only 5 seats
@@comparecards5688it 33.7% and the lowest turnout to vote in donkeys years. Remainers still crying 🏳️🌈
All the Labour voting mugs, ......... shock horror.
Let’s face it, Labour voters are not the sharpest of people.
Here we go. The lies are being exposed
How could they possibly have costed everything if they had no idea what money was available. Liars.
If not income tax hikes then it’ll be higher council tax bills, tax on fuel, VAT increases, and I’m sure Labour will find some more stuff to increase taxes on or maybe they’ll find new stuff to tax us on.
You missed out Londoners are gonna get hit with a drive way tax soon, probably roll that out across the country soon. Labour will be taxing us all on the air we breath next.
Isn't it labour's inherited black hole from tory abuse of public finance's for years. If we want more teachers Dr's nurses. Better roads. More money for the armed forces etc etc etc we need to pay for it. This all stems from tory incompetence and money for friends and tax breaks for the rich.
People need to understand one simple principle, Labour always raises taxes!!! They have always been big state and big spending.
It absolutely baffles me why working class people, particularly those who work in the private sector and who go years without any pay rise, vote for Labour who is only going to impoverish them even more than they already are.
It’s actually quite simple. I’m from a working class area in the north east and a lot of it is ancestral. You might be a well to do person but since your family voted Labour you do. The loyalty to Labour among the working class no longer exists but they can’t escape the mindset of Labour for the “working man” even though it hasn’t existed since the 1960s.
Hotel bills are how much per day?
Soon to be council tax payers problem
Cut gov pay get rid of Lord's, Get rid of NET ZERO & Edward Miliband ,stop the boats ,stop paying migrants and Hotel bills get our country back 🇬🇧🇬🇧🇬🇧🇬🇧🇬🇧🇬🇧🇬🇧🇬🇧🇬🇧🇬🇧🇬🇧🇬🇧🇬🇧🇬🇧🇬🇧🇬🇧🇬🇧🇬🇧🇬🇧🇬🇧
Why on earth did you fools vote for them?
4 star hotels, social and private housing, free healthcare, asylum application fees, benefits and prison cells for illegal immigrants ain't cheap, the money has got to come from somewhere.
Haha she said “the climate is headline news and people are very worried” 😂😂😂😂😂
Um, no. No normal people believe that shite
The ones who passed their school exams do.
@@FrostekFerenczy haha yuh.
Everyone who doesn’t believe the climate hoax didn’t do well at their school indoctrination test… 🤣🤣🤣
Labour voters don’t pat tax out of their benefits.
Quite right. Labour definition of working people: People who don’t work, People who work part time, People who are on minimum wage.
What a pathetic claim to say that Labour voters aren't the working class!
Try giving the BRITISH public instead of giving our money to foreign countries and immigrants.
Trust labour,,,at your peril
They’re all in on it! WEF bought and paid for !
Maybe she should check londons mayor's back account apparently he has loads of cash to spend on shite
Lol, who would just assume Labour were telling the truth?
We need Reform
I think many of us who value our country are still in a state of shock that such a bunch of anti British nation wreckers could have been voted in, even by some of our own people. Until we get PR we will have to expect more of the same from the outdated election system we have been lumbered with...
It's easy to win a rigged election
Anyone who fought labour wouldn't raise taxes is a fool.
People obviously forgot The Blair era.
Anyone who like to think any other parties wouldn’t they’re in for huge disappointment
The Cons kept it this way cos they knew their days were over
@@comparecards5688Reform wanted to raise income tax allowance to £20.000 to encourage people to go to work and save benefit payments.ever thought of an eye test
It’s what Labour always do, people should not be surprised.
Remember Gordon Brown Labour chancellor raised National Insurance contributions because 'he was going to fix the NHS' LOL. - then had to sell the gold reserves off cheap and raid private pension schemes (like for Labour MP Robert Maxwell) to get hold of more money.
all documentation in the NHS and the council translated into 127 languages etc, translators, hotels for illegals, an unlimited pit of money for aid to India and other countries etc
The mess that liebore left in 2010 will be the same again
Wrong, it will be 50 times worse.
You mean the world wide recession at that time ?
They threw 300 billion in the bin by sacking Rwanda
Fully funded, fully costed...
THEY WILL STILL BE PRESSING CASH INTO ZELENSKIE'S HAND EVERY DAY
“The problem with socialism is that you eventually run out of other people's money.” Margaret Thatcher. Keep paying, you taxpayers.
...and yet she stole the milk from children, and destroyed industry throughout the country. Why would we listen to her?
Oh my god who could think about it, that giving free money to Ukraine will make a big hole in public founds.
Who would have guessed ?
Even if you were in charge we wouldn’t have escaped this
Thanks guys!
"Hit the working person."
So I'm clear of any tax rises as an old age pensioner so this coming winter I will be able to eat and heat or will it be overcoat, hat and gloves again just to be able to live another year of this misery that you have made my life.
Update. 30th July 2024.
No heating, they are hitting the pensioner.
Well if you want an NHS you have to pay income tax otherwise you have to pay for private health care
When labour leave 4 yrs from now, this country will be bankrupt , we need labour out NOW , by whatever means necessary
Cracks are already forming. Corbyn might do us a favour for once. He will split Labour down the middle. MPs will defect to other party’s etc.
we need to build up Reform and get them ready to take over In government.
It's already bankrupt
Guy Fawkes ?
@@UKGeezer got his number
The Tories robbed it for 14 years. Labour need funding to repair the UK.
I asked a friend recently who he voted for, he then said labour because I have always voted for them since I was younger. I had my hand to my face when he said that and then I said what are you doing? Then I made a joke about it.
I think he realises the mistake he made when I was talking about what labour has been doing, which he did not deny and agreed with most of it. 😢 We need to break the cycle of generational voting.
She trusted them? Why? She insists they promised they wouldn't raise tax. Ahem...no they did not. They did the politician BS, saying they had "no plans" to raise taxes. Many of us said they would then asset that the accounting was "worse than they first thought", and then say they had no choice.
It’s not just the cost of pay increases in the public sector BUT THE INDEX LINKED PENSIONS that are not available in the majority of the private sector.
Labour will be proved to be dishonest and incompetent.
This would've happened anyway, regardless of who's in No.10
"Fully costed. Fully funded." 🙄
Indeed! What a joke
To discover within 2 weeks you have a 20 billion black hole shows some serious incompetence, especially when you said it was fully funded, only Labour could be more useless than the lot who just left government!😂
The plan was costed but the cost of the plan wasn’t costed.
Labour always put up taxes or borrowing or both. If you want to spend more the money has to come from somewhere. The problem is that all these left wing RUclipsrs keep saying tax the rich, the rich don’t pay their fair share. Etc.
I saw an interview with a member of the public that felt that people on 80k paid less tax than him on a low wage and they should pay more. These are the people who vote Labour. The last Labour government were a disaster in the long term because they borrowed and spent. The growth was fuelled by mortgage borrowing, stealth taxes and PFI. The reason the borrowing cost kept going up under the Tories is the commitments to spend via contracts last more than the government. PFI contracts were typically 30 years.
This country is in real trouble now and Labour will send us back to the 70s with rabid strike after strike, inflation and massive unemployment. Reforms fiscal policies are a joke. The Tories failed us, Labour will break us and reform can’t save us. Not even going to talk about the Lib Dems. Time to leave.
If the finances are so bad and they still resume the aid to give to UNRWA, good job!!! Like the people in this country doesn’t matter
Tax rises would come down if the government didn't give other countries money and use the money in this country first and do these back hand deals no matter who gets in parliament
Stop the boats 🛥️.
As shadow chancellor, what was she doing ??
mainly asking unanswered questions and listening to lies and obfuscation from her opposites
They should be made to tell the truth under oath.
According to the UK's Office for Budget Responsibility, the government's "Balanced Net Zero Pathway" to reach net zero emissions by 2050 could cost £1.4 trillion in 2019 prices, spread out over 30 years.
They knew about the 20 million black hole beforehand it was in writing on official paperwork. We were told by Starmer that all of their policies had been properly costed and were deliverable ! No new taxes !
I’ve never met a single person who wants net zero
what about the benefit scroungers and boat people this gov does not reward hard work and success and i would advise going abroad the icountry is going down the toilet literally
This time I don’t think Liebour give a toss about benefits scroungers now. They have a new voter to look after. The new voter arrives on boats.
Reform said we would get 20,000 personal allowance… look at where we are now 😂😂😂😂😂😂😂😂😂😂😂😂
She ‘just assumed’, how naive can you get……😂
Sell everything and go on benefits!!!
Due diligence.. they knew and lied
STOP the projects intended to be funded then NO TAX increase. Do we require expanding state control of our hard earned cash?
Anyone surprised with this? The hotel bill will need paying. I knew all along there was a booby trap tax and hear it comes. All of those people who voted Labour who think things will get better have been conned.
A lot of those economically conservative voters who switched to Labour need to be questioned as to what they were thinking. Voting to effectively become even poorer than they are now. Can’t imagine the guardians idea of the public supporting being poor to prop up the NHS. Self preservation is real.
you just wait for liebours first past the post budget
Know where all governments 'borrow' money from and how it is created. Then ask what your tax pays for. Such a convenient system.
We can print money when it suits, get printing no need to tax anyone
Brilliant idea, print more money, inflation rises, money becomes practically worthless. Are there any more bright ideas you can think of 😂😂😂
Printing money is a tax they just don't tell you about
Why do you think we're in this mess? All the money printed during Covid to pay people to sit at home.
We are paying £100 billion a year interest on the money 💰 we all ready printed
You don’t know anything about economics do you?
What will Labour do once they've bled middle-income earners dry? Who will they go after next?
We are not all worrying about the bloody climate. It's a wealth transfer vehicle.
I love the fact that the lady assumed what Labour said in the campaign was true, namely not raising taxes. Charming.
Oh look they've found a reason to raise taxes aren't they clever.i wonder where it will end
So no more money to Ukraine?
Promised them £3 billion next year already
I hate it when the little green goblin turfs up in Britain....hands out ...again, What have all the BILLIONS been spent on...we need evidence..this cant go on....
Of course, Tax would go up. How else are you gonna fund all the Immediates ?
Who will pay for their hotel and we'll fair?
surprise the Labour didn't check the book during the past 14 years 🙄🙄🙄🙄🙄
None of them can read or write, it's all talk, that's socialism for you....
😂😂😂😂😂 did you not think they would do this, they are born liars
If they could, how many brits would change their vote to Reform,
Only the most stupid and gullible. Reform are incapable of of helping anyone. Where is Farage now? How much better is Clacton off now?
VOTERS OF THIS COUNTRY WILL REGRET NOT VOTING INTO POWER REFORM UK