UK inflation hits 30-year high as cost of living crisis deepens
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- Опубликовано: 15 фев 2022
- Inflation is up again - hitting 5 and a half per cent - the highest rate for 3 decades. (Subscribe: bit.ly/C4_News_Subscribe)
And this isn't the worst of it. A rise in the cap on domestic fuel bills is expected to push inflation all the way to 7.5% in April. So the squeeze on living standards is set to get worse as the year goes on.
And while those on the lowest incomes are being hit hardest, the cost of the living crisis is affecting almost everyone.
We have been spending time with one family in Birmingham about how the cost of living crisis is forcing them to change their lifestyles.
Follow us on Instagram - / channel4news
It's called cost of surviving not cost of living
🔥🔥🔥
Cost of existing more like
Nah, you don't need money to survive, you need it for a normal life, "living" is accurate.
@@MyLittleMagneton the idea is ur not really living if your always in survival mode I hope that cleared up any confusion
It's called making you poorer
It's the same in the US. The inflation is crazy here.
Inflation? what inflation? I see no inflation, at least not as we are being told to see it...
ruclips.net/video/RH1tT4NW8NI/видео.html
'The one thing we dont want to happen.' Taxing the rich. The tories making British people poorer, since the beginning of time.
@Wasssup Dawwwg who owns the media? Oh that's right billionaires. People with enormous wealth that don't live here in Britain.
@Wasssup Dawwwg probably. They didn't have control of Corbyn. That's when they wheeled out the rabbi. When someone gets close to the levers of power. Who's not part of the elite ruling class. The press go for the jugular. The public are just deceived into submission. Bojo is a complete bell-end. Starmer would be better. Always vote for the lesser of two evils.
@Wasssup Dawwwg Depends on what it was spent on. All the corruption was absolutely unneccessary, the £37 billion wasted on a still not working test and trace app, the tens of billions wasted on never delivered or unfit for purpose PPE should be taken back from those who never delivered, sure. But the money spent on furlough was spent wisely, it was just a novelty in the UK. Germany e.g. has this system in place for many decades and it works wonderfully, keeping people in their jobs so that they can work again immediately once the situation has improved and not making them rely on benefits in between.
As you know, the OBR said that Covid costs the UK 2% of its GDP short term while Brexit costs 4% long term which translates to over £86 billion every year or over £1.66 billion every week which is exactly why they started introducing Brexit taxes now without calling them Brexit tax of course.
@Wasssup Dawwwg I'm a card carrying Labour party member.
@Wasssup Dawwwg report this fake BOT he is spamming the same script on every comments
Being from the United States and also dealing with massive inflation, there's some comfort to seeing that other people in other countries are dealing with the same challenges. However it is very discouraging to see people saying that higher wages is not the answer because that will bring higher inflation. To me that points to an inherent flaw in the system where wages have always been too low so raising them to try to keep pace with cost of living standards has now become virtually impossible. You cannot make that argument against the backdrop of corporate officers making record amount of income. Part of the solution is for people to be more conscious of what they are buying and who they are buying it from. If you're buying from companies who have CEOs making 50 million dollars a year then we should not be surprised when they raise prices 3% each year to keep pace with their ridiculous payroll. The system needs a reset.
Great point. But wouldn’t hold breathe while ceos decide to be nice and take a pay cut. Workers need to push back. They have no bargaining power so will keep getting squeezed until there is a release in the form of social unrest. The system does need a reset but not sure where it will come from
i wouldnt admit to being a yank ....lol
The solutions involve taxing the super-rich and eliminating tax loopholes and cutting down on fraud.
Unfortunately the Tories can't remove tax loopholes because the grand majority of them and their pals in high places make use of them. On top of that they have just written off £4bn of fraud from companies claiming Covid emergency funding who shouldn't (e.g. companies that are registered but don even have employees). The member of the House of Lords who was in charge of overseeing fraud prosecutions recently stepped down because he said the government wasn't allowing him to do his job properly so this money could be claimed back. Then you have the mandatory energy loan that will pay £200 of the taxpayer's energy bills this year and ask for an extra £40 over the next four years. This loan-not-loan, as MoneySavingsExpert calls it, will probably take more money from the taxpayer than it has given (because people naturally migrate from single households to multiple, so £200 can become £40 x 5 x # of households).
So when a corrupt and incredibly self-serving government is in charge of spending, it should be of no surprise that the rich get richer and the poor get poorer. They are heartless bastards and we need them out if government!
I agree that we should be aware of who we are giving our money to but fact is, we live in a world of monopoly. A handful of corporations control the means of production and the small independent businesses have to operate in a rigged game. Apparently, capitalism is the best we can do as humans or so we are told. Our collective strength has been divided and ruled for over 40 years now and not even a global pandemic seems to have addressed that imbalance
@@Funglutton The historical record demonstrates that what you have said is the exact opposite of how you control inflation. In the 70s, as this video has literally just said, inflation reached 22%. This was at a time when we had a 95% marginal tax rate in the UK, and even Labour leader Jim Callaghan admitted these policies had been a failure. You probably dislike Thatcher, but whatever you think about things like privatisation, you can't argue that she didn't solve runaway inflation, and she did it while reducing tax rates at the same time.
Normal 20 pound shop cost £28 ...suddenly. I'm disabled, trying to recover..with multiple 'benefit mistakes' along with all benefits cut since October....my son turned 21 over Covid...impossible to describe the anxiety from the lack of electric food and basics...
Please contact your local charities, they would be glad to help you.
Why should people have to seek charity in a society that financially penalises them unfairly as it is?
Grown, self-aware adults shouldn’t have to explain why things like homelessness or poverty continues to exist in the West. You know why, it gives you a better view to turn your head toward (down or up depending on certain types).
@@eustacequinlank7418 in short we in Britain pay more in tax than any other European country, we pay enough tax that their shouldn't be charities like food banks. But alot of poor people still vote Tory, Austerity is a choice not a inevitability.
@@Trax777 There are not enough Charities and they certainly don't have the money to refill in pockets that have been robbed blind by capitalist corporations.
@@eustacequinlank7418 in a civilized society charity shouldn't exist
Being in Finland, not feeling much inflation, seems UK government is just driving aside their incapability
Facts!
Aye the cunts at the helm of the english government are spoilt, horrible and incompetent little brats.
Well, I can see the inflation here in Germany.
@@sunnysunshine6271 yes we all can see, but we are not switching off heating for eating🥺
I guess my next step is to move to Finland!
France has imposed a windfall tax on energy companies. Why can't our government do the same to help us? Why have they given a tax break to the banks? Why are the fossil fuel industries paying zero tax? Why is the poor always have to take the hits?
@Wasssup Dawwwg billions given away to Tory donors.
@Wasssup Dawwwg why would starmer fill the pockets of Tory donors?
@@New-ye2fl Because he's a bot lol
Because absolute idiots decided to elect the Tories, and then they act surprised that the corporate party doesn't give a toss about them. Brits need to start paying attention to the politics. Brexit, Tories - they're shooting themselves in the foot, and then crying about the consequences, searching for answers as to how it happened. Mindboggling.
@Wasssup Dawwwg Depends on what it was spent on. All the corruption was absolutely unneccessary, the £37 billion wasted on a still not working test and trace app, the tens of billions wasted on never delivered or unfit for purpose PPE should be taken back from those who never delivered, sure. But the money spent on furlough was spent wisely, it was just a novelty in the UK. Germany e.g. has this system in place for many decades and it works wonderfully, keeping people in their jobs so that they can work again immediately once the situation has improved and not making them rely on benefits in between.
As you know, the OBR said that Covid costs the UK 2% of its GDP short term while Brexit costs 4% long term which translates to over £86 billion every year or over £1.66 billion every week which is exactly why they started introducing Brexit taxes now without calling them Brexit tax of course.
You could start by not stealing £51,000,000,000 in test and trace, ppe not fit for purpose, and £5,000,000,000 in fraudulent loan applications.
So are you blaming the populous for inflation...what kind of society leads people to feel they need to "defraud" the gov't to survive...maybe the system is just sick and it's illness has finally caught up to it
Churchill's grandson Rupert Soames at Serco is an old establishment Bullingdon boy. When there's money to dip fingers into Boris is obligated to kick it up to him, no different to the way the mafia works really.
Correct
@@yusuftutstone5586 its not society its a minority of spoilt tory bastards that have robbed the people and society of its national wealth and caused untold damage to the country.
@@stevennewlands2978 But Corbyn would have been worse, some red faced boomer on TV said so which makes it true.
I can’t take much more of this, I already haven’t used my heating for 2yrs there’s not much left to cut back on. Welcome to Tory Britain I guess :(
@Wasssup Dawwwg and has chosen to be a third country helped? No...
@Wasssup Dawwwg you know exactly what I meant...
You CHOSE to be a THIRD COUNTRY - this is why you're getting poorer.
@@imastaycool no it hasn’t helped at all and many of us saw it coming and tried to warn people but we were labelled scaremongers. The whole thing was a massive scam pulled on the public to avoid the EUs plans to better tax the wealthy and big companies. Although 52% of the people eligible to vote chose to leave, that’s actually only a third of the population.
The rest of us cry for what’s happened. I hope one day some years from now we will be able to rejoin but I realise it’s going to be many yrs before we are trusted enough. It’s all so sad.
@@mrsir3130 🙌. 🙌 🙌
@@imastaycool what's a 3rd country? Is it different to a first or second country? I think I live in a country, did know about the numbers.
Whats not mentioned is the huge increase on tax revenue due to the rises that the government is racking in. They could easily scrap the NI increase as they have made way more revenue than expected because of the rising prices.
@Wasssup Dawwwg Oh dear, Covid was merely a cover for the Tory rape of British wage slaves. Tory cronies have become multi millionaires at taxpayers expense, Johnson is simply a criminal.
And how do you fund old age
@@timcomley3241 Eat the rich.
@@factstrumpprejudice6740 Absolutely! Huge chains of shops were disappearing from the high Street prior to covid, the economy was on the ropes already and the bubble was about to burst. Covid was just a timely and convenient opportunity for a bailout with zero scrutiny but had it not come along, it would have happened anyway.
@@timcomley3241 by taxing dividends from unearned income at the same rate as wages, raising 14 billion a year.
by a financial transaction tax of 0.05% that raises 100 billion a year.
by a wealth tax and by parking a type 45 destroyer off the coast of each UK tax haven and demanding to see their bookwork lest they be shelled. There is north of £30 trillion in 9 UK tax havens, you start there, you don't start with the majority workforce who've been paying for the mistakes of the rich for decades, on steroids since 2008.
What about the 37 billion stolen and wasted on the track and trace system
Yes!
What about the embezzlement from the government..
Why do certain business workers not get covid grants yet the chancellors wife who’s worth ££££ gets to furlough staff.
For the few and not the many
There are a lot of people in this country far worse off than the people in this video thanks to the tories. As for saying it’s temporary, it’s not temporary, standards of living have been dropping ever faster since 2010
this year is the middle lower middle classes turn to start feeling the bite. working class people have died through austerity since 2010 relying on food bank and friends and family. hope they finally understand whilst living in their 3 bedroom house and driving nice cars
@Wasssup Dawwwg you have no clue what socialism is, it’s not some catch all bad word, public ownership of the means of production, transport and distribution ( which is what socialism is) is a sound and extremely cost effective way of running things far less prone to the rampant corruption we have atm. Notice how every time the tories sell off another asset the price goes up and quality of service goes down for the consumer. We need more things nationalised not less.
@Wasssup Dawwwg well a lot of that was them giving contracts to companies set up by their mates that couldn’t actually deliver the goods or to companies they owned a lot of shares in but also couldn’t deliver and they also paid these companies way way more than they would if it wasn’t a scam.
@Wasssup Dawwwg yes well the nazis called themselves socialist but they weren’t socialist at all in practice, it was a capitalist dictatorship. It’s a common misunderstanding. Stalin was communist but also quite insane. No political system is perfect but some are worse than others and our current farcical version of democracy with run away capitalism (albeit with some socialist institutions) is a fking joke.
@Wasssup Dawwwg Corbyn believes deeply in the values of socialism and has demonstrated his commitment to the people and his values all of his life. Starmer is centre right on the political spectrum and believes in the free market though would be happy to keep the socialist institutions we still have, pretty much the same as Blair. Boris is firmly right wing with many of his ideas and actions leaning towards far right, basically if you weren’t born into money he couldn’t care less about you. He’s also a dangerous man clearly suffering from narcissistic personality disorder.
Wow, didn't realize this inflation crisis is affecting countries in Europe. Its impacting us here in the US and Canada. Crazy times we live in....
Its going to be a bumpy ride for a while. If funds permit and you aren't already get a well stocked food cupboard before it hikes again. Take care of you and yours huni.
i left in 1983 things was not getting better and happy where im at the only way for me to live in england they got to pay me visit yes
I will let you in on a secret, there is no inflation crisis.
An inflation crisis happens when input costs to produce goods and services rise beyond expectations resulting in companies needing to raise prices to maintain profit margins. Yet the companies are all making record profits showing input costs have not risen beyond the ability of companies to increase their profits by.
This is not a systemic crisis, this is a choice, by the rich, collectively in many nations, to raise their prices, and use covid spending as a smoke screen to disguise from that.
Welcome to capitalism, anti democratically shafting the majority day by day since 1650.
@@patrickmorrison6253 Thigs almost could have gotten better but 70% of my elders over 65 decided they wanted a multi millionaire proven corrupt racist liar instead of an ardent humanitarian who wanted to build social housing and give free education to all for life. And as they outnumber those under 40 2 to 1 what hope did the young ever have.
The gifts of capitalism over time.
"Temporary" increases would probably last for a year or 5. Who knows?
Always up. Never down.
Clearly not temporary.
Permanent until the poor die, when we worked on the COVID 19 vaccine they told us how they were aiming to lower the masses of consumers in the country, they are the main reason prices are so high and they actually want most of Americans to be able to afford things but since there's too much people it's not possible. They'll soon reveal something only to the rich for now but stay tuned
Raised prices will remain where they are when it's all over.
I am 24, single, no kids, and I am worrying about the cost of living. I don't have a high income and I live in shared accommodation with my bills included - but my rent is not cheap, and it looks as though it'll go up in the future. I don't have job security either. I can't imagine the stress people with families to support are feeling right now. Something must change.
Almost twelve minutes on the subject of inflation, with never a word on its actual root cause.
In reality, prices are rising because the buying power of each pound has been reduced by the Bank of England's creation of billions more of them over many years, but rising to an unprecedented rate over the past two years.
We are not alone in this. Central banks around the world have been doing this.
Channel 4 would do well to approach the subject from this monetary side, and produce another feature so that a fuller appreciation of what is going on can be given to the public. The chances that this will happen are obviously very slim.
Well said edward, if only people truly understood this is based on monetary supply, the supply and interest rates
👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻
It was long ago on the media while in the pandemic. Huge inflation was coming and now it has come
Just read in Spain the energy prices doubled last year and just as a example olive oil went up by 28% so it seems a world wide inflation problem not just in the UK.
iqbal, not as UK. we are doomed
In Spain they have many dirty socialists and horrible communists in government who do terrible things like subsidize the energy prices decently so that it doesn't hammer their citizens, where as in the UK where we are ran by loving capitalists they will happily sit back and let a market rob us blind and freeze us to death in a time of scarcity as there was no profit in doing otherwise. All while coming up with machinations to pretend the opposite is true of their intentions.
@@Nine-Signs don't worry. soon the soviet union flag will be fixed on buckingham palace like it happened in Berlin. and Karl marx and f engels statues will be placed in every square of UK
@@workingclasszero868 The soviet union is long dead, and all be it for different reasons, as are any hopes of a better future for the majority in the UK. We had a once in a century chance, gone now. Only down from here.
@@Nine-Signs never say never!
One thing I am 100 percent sure this is not temporary!!!!! Government lie about it
and brits still love Boris haha 😁
No. Most want him gone.
English”
Not even his cabinet support him
Well, I can’t find any of them.
Oh no we don't 🥺
But I thought Brexit was going to make us richer ?
Brexit was to make press barons, oligarkhs and Rees-Mogg richer.
@@emm_arr Idiot, Oligarchs they're Russian, a small number of communist who run the country. They're called Plutocrats who have made their wealth
Scotland should left the uk
you thought wrong!
@@explorerjay2810 I'm far from an idiot - and you lnow it.
Funny how he was blindsided by the Prince Andrew question! Waffled on for ages without even answering 😂
But didn't Brexit supporters not say that food prices will go down?
Funny that.
How do you explain the food inflation in the EU?
@@jpw6893 You are right, there is inflation within the EU, too. All the reasons given at the start of the vid are true for the EU with a few exceptions:
- more hauliers, butchers to process meat, fruit and vegetable pickers, access to a
460 million market without borders.....
- a billion Euro fund to alleviate the burden of the pandemic (Malta will get 46
million for about 500k inhabitants)
- the sovereign members like France and others put a cap on energy prizes
. a working track and trace app that is FREE and only cost a few millions in Germany
plus free FFP 2 masks The list can go on but it's late and I am off to bed :).
@@irminschembri1081 all that and it made no difference lol
And fuel prices.
It's known as the cost of leaving (the EU). Own it if you voted for it. If you argue that it's the same everywhere else then it isn't: Energy prices far lower in France, petrol £1 per lt in Australia and inflation much lower in Spain.
Lol I hope all you wankers who votes for Brexit feel proud … I was 17 at the time 🤷🏽♂️ even I saw this coming
@@sameaulahad2824 Project Reality has delivered
The loss of 4% of GDP as stated by the OBR translates to a loss of over 86 billion per year or over 1.66 billion per week as opposed to the promised gain of 350 million per week or a loss of 1284 pound for every Briton, baby, worker or pensioner. Of course that also means less tax revenue and less to spend on the poor but the government's corruption will probably not be affected.
It’s the corporations and the governments policies, like the Bank of England money creation.
It's partly that but it's mostly the price of lining the pockets of the fossil fuel industry.
So along with destroying the planet, they are now bleeding you dry.
Oh, and they pay no tax.
Hate them yet?
Where are the promised £350 million per week that we were told the EU was costing, that was going straight to fund the NHS after Brexit? Uh?
The inflation is more than 10%. If the price doesn’t increase it’s because the per kg price has increased but the packaging weight less now to “maintain” the price!! Check your price and unit price during grocery.
Same situation here in the US. Our cities are literally crumbling in some areas. In the grocery stores it's rare to see people leave the store with more than 1 or 2 bags of groceries per trip. Homelessness is growing across the countryside More and more cities are seeing the homeless population migrate to more areas in the cities. I am due to get my taxes done and scared how much less my refund will be. Good Luck!
not longer laugh of venezuela you bastards??? sooooo sad
Not just in UK but around the world also. I'm in U.S. and inflation is all time high since 1982. My family is in Thailand and they said everything had gone up as well.
It's all about the people at the top who have stopped cearing.
I thought that was terrible interview by a government mp. He clearly doesn't understand what's going on and the usual "its international" is not the full answer. He's "i don't see the problem" at the end was just ignorance. Krishna literally schooled him
There is a certain song by Genesis that is very relevant right now... Land of confusion.
@@Thelango99 even Pink Floyd
" a great sorrow lies over this land"
Fastest solution: shareholders and big bosses need to reduce their earnings expectations. Pay cuts and reduced dividends would help A LOT
We live in a world where money is more important then life they would never do that
You’re asking for your retirement to be reduced.
The Tory party seem to have a magic pot of money for their donors though, hey?
We haven’t leant about correct portions either. We are eating too much and wasting a lot too. Its a good time to manage our finances better.
Aye love thats it. Eating to much is what caused a 54%increase in cost. What about us who arent fat like you who eat properly? Do we deserve that increase??
Sounds like a Kirstie Alsopp argument.
its by design. corn syrup has a chemical that shuts off two key factors
1- it shuts of the signal to brain when you are full
2- it also keeps the nutrients from the cells blocking it and storing food as fat. most obese people have nutrients deficiencies.
once you realize it is designed that way. to create more health issues making more money for big pharma.
@@kristinakilby6798 take of the tin foil.
I’m self employed and I’m feeling the strain, caught between not raising my prices because my customers couldn’t afford it and having to pay excessive amounts on everything used to run my business. Higher tax, higher strain, and poorer mental health.
Even my dog food has gone from £5 and change for a bag to £9!!
It’s time to start getting the wealthier classes to start supporting the country more instead of breaking the backs of the middle and working classes!
"It’s international market forces!" - and the only people who can protect their population from that and have the leaver’s to do so are the government. What a pathetic government this is.
they represent very well his "people" lol
It's all good. Our Govt got into power on the mandate of looking after the small people, the downtrodden and disadvantaged.
The Brexitories are patriots and have the interests of ordinary working people at heart - that's why you voted for them.
What we need is a few new rousing slogans - that'll sort you out. And don't forget, we're not controlled by Brussels now, so our Govt is free to help us.
I am a strong remainer but if the country voted leave it is mostly OUR fault. we left the working class alone. how can labour lose in lincoln and win in richmond?? we bullied everyone who was confused and was thinking to vote brexit, calling them racists, ignorant, uneducated, chav, etc. and as much as I love jeremy. he comes from Islington. We need someone who come from the bottom. someone who knows how to talk to normal people and explain them how dangerous can be a man who the average person thought it was funny (boris liar johnson). we needs a working class leader who shops at aldi not at waitrose. then you will see how working class will go back to vote for labour
The price of good's go up 10% so most not all business add 20% increase to the price. Wage increase isn't even caught up to were it realistically should be and they always use that as a sticking issue. Most grocery chains are making record profits while ever little increase in food price is followed by a huge increase in price. There should be a minimum tax for all of these huge multi billion/trillion dollar companies that continue to pay very low tax or no tax.
If you tax the companies. They don’t get that money from thin air. They pass it on in higher prices. Ergo YOU end up paying it not the companies.
On top of that, electricity, gas and petrol prices are high. Cutting taxes on these essentials is necessary.
This makes me grateful to live in indonesia. My mother in law encouraged me to live in her house after i married her daughter. And most married couples i know still live with their parents, so they can split the bills together and have someone to care for their children while they're away for work. It's an effective survival strategy in the face of absurdly high living cost. Then again in my country it's considered very rude to leave your parents' house without strong reasons
If i have raice my own children, i dont want to raise my grandchildren. i want my own privacy,
Im British, i no longer love my country. If i was not poor, i would definitely move overseas and NEVER COME BACK. The Tory gov are crippling the poor, and nothing is being done about it. I envy you 😊
@@helenooft9664 Go back a few generations this was not the case. Having your own space vs being involved in bringing up grandchildren there’s a balance.
Living with your children doesn’t necessarily mean a breach of privacy.
The west has lost these values, long ago. Survival on your own is much much harder. Family is a blessing.
I have worked and raise my child, and now i want to retire and enjoy the last years of my life, i love to see the grandchildren, but not daily. It is the responsebility from the parents to raise their own kids, like i did. My mother have nave raise my child when i was working, she was on the creche 5 days a week. And my mother enjoyed here grandchild when ever she wants, for a few hours.
My mum has worked here whole live and raice 5th children that is enough for one live.
For me family is also very important and helping each other as much as possible. I call my mother every single day, buy the big grossery's for 6 months. My mum was a single mother, and she did a great job, and i visit here with my child a lot.
@@helenooft9664 For Grandparents to spend time with the grandchildren is great, good for the kids upbringing and values, good for the parents; everyone can learn a thing or two from their grandparents whilst growing up. We both agree.
In our culture, it’s not our grandparents responsibility to look after the children.
Grandparents who do live with their children, have their own space, and just like your mum came over and spent a few hours, they are already at home to help out if needed.
Everyone’s different, some kids are difficult and need more attention and some don’t, and I’m pretty sure people would assess their personal situations accordingly.
There’s nothing wrong with people wanting to have a quiet life as they get older, however I noticed there is a massive difference in cultural mindset from east to west.
And Brexiteers seem to think Brexit is done, but no, Brexit is just getting started.
They always argue that the predictions have been exaggerated since the 2016 vote, but they seem to easily forget that:
1. They only left the European Union on 31 January 2020... and that
2. New rules governing the relationship between the EU and UK as a Third Country only took effect on 1 January 2021 and
3. From only 1 January 2022, exports between Great Britain and the EU are subject to full customs controls.
THE SLOW DECLINE INTO THE ABYSS HAS JUST STARTED.
It’s 7.5% in the USA.
@@pja7 don't you understand that it's not solely about what percentage inflation is at in any one country, it's also about the plans countries have in place to counter the effects of inflation.
The UK cutting itself off from the European Union which is the world's largest trading block is a suicidal act.
The EU is the largest trading partner for over 80 countries, while USA is the top trader for about 20 countries.
All the UK gave itself is red tape as a third country with the very countries its surrounded by - absolute folly!
Scotland should left the uk
the remainers fckd brexit we are still in the eu
Interesting that brexit has caused global inflation…
I think some businesses are taking advantage of the situation.
like who? could you please mention one business who will take advantage apart bailiffs?
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The important thing about wealth planning is having a proper plan. The idea of working with a professional is great because it will help you plan well, avoid some mistakes beginners make, and create a good income for the long term. I have been working with one for years and it has shaped my finances.
In the past 3 years, I have gone from $25 an hour ( Internship after college ) and now in 2022, I am at 205k. I am moving more and more money into assets. It is really cool to see my M1 account paying back dividends
@@precious5605 Thanks that makes the most sense. Access to good information is what we entrepreneurs need to progress financially in life. Here’s a good one and I’m grateful
Frustrating how they don’t talk about what’s causing inflation
Some claim that Brexit was good because it increased wages due to shortages of workers. Seems most of these increases will be eaten up by inflation. Someone has to pay for those increases, somebody has to pay for more expensive imports due to the lost value of the pound through Brexit (20% compared to the EUR, 10% compared to the US$), somebody has to pay for the need to import more since things cannot be produced in the UK any more, e.g. Turkeys from Poland while those in the UK cannot be processed, other animals sent to the EU to be processed there and then buying the meat back, ...
True. If you saw your wages go up £2k pretax then historic inflation, energy prices, etc would leave you far worse off as a single adult. If you have a family then it's even worse. Brexit has delivered the opposite on what had been promised. EU got the last laugh.
@Wasssup Dawwwg Depends on what it was spent on. All the corruption was absolutely unneccessary, the £37 billion wasted on a still not working test and trace app, the tens of billions wasted on never delivered or unfit for purpose PPE should be taken back from those who never delivered, sure. But the money spent on furlough was spent wisely, it was just a novelty in the UK. Germany e.g. has this system in place for many decades and it works wonderfully, keeping people in their jobs so that they can work again immediately once the situation has improved and not making them rely on benefits in between.
As you know, the OBR said that Covid costs the UK 2% of its GDP short term while Brexit costs 4% long term which translates to over £86 billion every year or over £1.66 billion every week which is exactly why they started introducing Brexit taxes now without calling them Brexit tax of course.
@Wasssup Dawwwg Which just shows that you have absolutely no clue of what you are talking about. This corrupt government handled it in the very worst way possible with constantly locking down too late and the relaxing rules too soon again. That is precisely why the UK has one of the worst death rates per capita in the whole world COMBINED with the worst hit economy of the G7. This obviously shows that with the proper measures, it WAS and IS possible to slow down the spread of the virus, to keep more people healthy, prevent them from getting long covid or even dying. Inform yourself and learn something before posting more rubbish, PLEASE!
The true cost of Brexit was never a price the public wanted to pay. Brexit has already served it's purpose of getting Boris and his gang in power, what follows next is just trying to get an ok outcome from a bad situation.
Scotland should left the uk
I feel the global rest is imminent and it's crazy. Inflation going off the roof and in the market S&P500 was down -13% & Nasdaq was down -19% in January alone. Just last week it hit -10% in just one week, how much worse can that get. But it's crazy how whenever something big goes wrong, a lot of people panic and hold on to money that should be working for them. Having monitored my portfolio performance, I've learned there's always a way a leverage on this.
The crazy part is the Fed hasn't even really done anything. It's been all talk. Not even an actual .25% hike yet and QQQ took more than a 15% correction. Imagine when they actually do something. Tbh I'm in need of a good investment plan currently, I have a lump sum in a savings account yielding next to nothing.
@@mattgallagher9940 Highly diversified portfolio using trade signals from my investment advisor Susan Lynn Hoyt a US registered CFA who you might have seen in the CNBC news and tbh it's been a huge relief. Good earnings and little to no engagement at all on my part. My aggressive portfolio returned almost $150k in Q4 2021.
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Yeah, it's not so much inflation as price gouging on a massive scale, starting with the cost of housing- the cost of a roof over your head used to be about a quarter of your household income- that's way out of whack, and getting worse - and they just keep pissing on us and calling it rain..
It has never been a quarter of income. The average home has always been around half of income.
Sometimes getting a takeaway is the only thing I can do to eat a warm meal because it costs more to cook at home.
Local chippy does a large plate of chips for £2. Using one hob on the oven to heat a 60p tin of soup costs £5.
Wow thats bad
@@serene9239 Yeah, sometimes my electricity hits £10 a day and I can't figure out why at all. All I've got on is the computer, internet and the fridge most of the time except when I'm doing the washing, drying my hair or making a cuppa.
The average amount I've been paying per day this week for combined gas and electric has been £6.
Used to cost that much for the week when I first moved in in 2020.
Crikey, that's horrendous.
@@janegallagher6162 Since I made the initial post I've gotten used to the taste of eating tinned stuff like vegetable soup and baked beans cold and discovered that cooking and boiling everything that has to be like pasta, lentils, noodles or rice in a frying pan or potatoes and nuggets in a sandwich toaster is more efficient cost wise. I'm making adaptations but so far this has only lasted me the summer not sure how things will work out this winter.
when I went to the UK I was surprised how cheap the food was 3 years ago
Who really believed that giving our wealth away for decades was sustainable? Faux-food manufacturing is the worst offender when it comes to wealth extraction. They hook you with advertisements and convenience "foods" made artificially tasty. Remember this bit of wisdom--nothing is expensive if you don't buy it.
the one cut I would have loved to hear about, is the "salary cuts of upper management, owners etc."
....now wouldn't that be something, hmm??!
The corner shops are the worst, most expensive
Family of 4 where nobody is working have no money? Hard to believe.
The husband works.
Pinocchio Tory is laying again
The government could force lower prices on gas, food and could also cap rent so companies can't gouge consumers to keep up these insane profit margins and force them to make internal changes to compensate and not just pass off inflation to the consumer.
The gov has shares in these companies do you think they want to see their dividens drop
Then you would drive such companies to insolvency and there would be no supply of goods
That's where the money for the rich's luxurys comes from lol, we need to help the rich so let's donate all our money while we can barely afford to feed our poor ugly skinny kids 😢
If people keep voting for a tory government, for a decade no less, and are surprised that the vast overwhelming majority of people are worse off…
That points to another serious deficiency
I take no pleasure in saying.
As a Scot, I despair at a majority of people south of Berwick, serially voting for people with whom they have nothing in common, who take a hatchet to anything related to the state and the quality of life, job and education prospects, inventing new ways for millionaires and billionaires to pay less tax…
It’s not rocket science.
People need to stop reading the daily mail and take a look what they’ve won with this shower.
If there’s an indyref 2, the way things stand, I’d have no compunction whatsoever in voting for independence, and we can proceed from there.
I don’t know why there’s so many people who don’t comprehend the problem and invest altogether too much energy and attention into all the distractions repeatedly banged on about in certain news media, but england needs some time on its own to work out what it wants to do.
If it’s more of the same or even further off in the direction it’s travelling, then that’s their prerogative, but I, and a lot like me have no interest in continuing down the road of xenophobic and frankly self denial driven self harm manifested in the government we have today.
It’s literally got to the point a great swathe of tories themselves are fighting a gagging reflex constantly, in beholding the monumental historical disaster which is blo jo, and co.
It is the same thing around the world. I live in Cameroon, Central Africa and prices have gone up crazy...
Blame the central bankers and low interests rate for this problem. We've had constant money printing from the FED, BoE and ECB for the last 10 years that has caused massive price inflation in real estate, stocks and shares. Now this is seeping into the wider economy. But now we have an inflation problem and the central bankers are dithering and don't know what to do. They can either raise interest rates to at least inflation levels and blow up the financial system or do nothing and hope that it blows over which will cause a crack-up boom and runaway hyper-inflation. Either way it's going to be painful few years.
Finally someone nails it and doesnt blame everything else for inflation. When will an mp admit this?
David Cameron the PM who gave birth to the Force of Brexit and the voters who with ego of Imperialism and Empire voted out and now we see ruin coupled with massive expenses in Afghanistan and Iraq wars... This is just the beginning as the money printing is now hitting hard with inflation
It’s not inflation, it’s a corporate greed problem. 🤑🤑🤑🐑🐑🐑
With drumming skills like that, that kid deserves to go to his choice of music college..
He would give Alex Salmond a sore head..
Welcome to Britain. If you are not born rich, you must purge and suffer for it. This is right and just. No art school for you.
The price of ackee is ridiculous as is the decent salt fish mot the stuff you get in morrison's which is def substandard!
More dumplings less yam and green banana inna mi Saturday soup fi true.
Luckily my elders taught me well.
You Jamaican?
Do you trust this Government to spend the extra 12 billion from the increase on vat for the NHS 😂
I feel like making the shift isn’t not having takeaways, it’s going to the reduced section every night and getting meat £2-3 worth of frozen meat but yes money wages and benefits should go up as all the prices have or.. they should make it a requirement for prices to be at a certain level
Comments like this show me why inflation is soaring! You can’t control the market or print enough Money to control this! In fact what you are calling for is exactly what is causing the inflation!
When I was in UK. I saw empty boarded up streets under a constant grey sky, litter everywhere.
Homeless people sleeping in doorways. Opioid addicts out of their mind and women so drunk they urinated on the streets. It's a sad declined country
@Nautidiver In my country i have freedom of speech and i'm exercising it! Whether you like it or not.
Sad ? Well deserved restribution??
Oh , drunken women in the Streets. There is always enough money for alcohol and partying.
That’s what happens when you just keep printing money…..
The volume of money printed between 2008 and 2019, DWARFS the amount of money printed in response for COVID, with the figures being 5 trillion dollars on covid and 20 trillion dollars on keeping capitalism alive post its 2008 heart attack, yet over all that money printing time before the pandemic, not a lick of inflation was seen.
This is an inflation without just cause beyond total parasitic greed of the rich.
ruclips.net/video/RH1tT4NW8NI/видео.html
Life has been pretty challenging the past few years! I've lost my dad to cancer muddled through the pandemic and now this ! Don't know how much more I can take😪
Everything is a test From God Almighty even if man causes the problem.
You are not alone millions are suffering
The tax payer stepped in to save the banks when 'market forces' caught up with them. But one rule for thee...
The arguments about energy prices feeding into inflation are basically false. Energy is a capital intensive business with labour not being a major cost.
It is time for the Monarchy to go. How many generations are going to live under the Monarchy?
Seems like the grand old duke of york is going to be a feature in the future.
"Wage inflation no one wants to see because that creates a downward spiral in which nobody wins......"
I'm not sure I understand what he's saying. It feels like he's insinuating these high prices are having serious consequences for poor and working people but raising wages will distribute some of the hardship to the rentier and business class and that's something which must be avoided.
Who's winning?
No that’s not he’s saying at all. You’re just economically and financially illiterate. If you increase wages during high inflation, you increase the costs of goods and services. And then you are caught in a spiral of raising prices then raising wages, both of which are inflationary. In order to get inflation down you need to calm prices. If you give a 19% pay rise as the nhs and rail workers want. That means the wage bill is passed on to consumers as higher costs or taxes in the form of the nhs. Which leads to ultimately people having less disposable income and higher living costs.
@@danh5637 wrong poop pile. You're economically illiterate. Companies are taking in record profits. That's what's driving inflation.
So what happened to 45 Trillion $ those royals took from countries like India
It's here :ruclips.net/video/np_ylvc8Zj8/видео.html
No mention of the root cause of endless fiat currency printing around the world. Really?!
I fear for the people on Universal credit and unemployed.
Rip off Britain lives on...
How convenient to ignore the elephant in the room: BREXSHIT!
If the UK government is running at a deficit every year then maybe their financial spending should be looked at by independent people. They cannot be giving themselves massive wages and massive raises if the government doesn't have that money in the pot. They had something like 800 billion last year but allegedly spent something like 1.1 trillion. Yet give themselves generous payrises??? Maybe their wages should be in line with what regular folk earn. Some of these MP's don't even put in 40hr weeks and get a very generous salary.
Rejoin EU
08:06 - "Whats your solution then?" - I cant believe a politician just did that?
Absolutely disgraceful that he should stoop to that given that he is paid from the public purse. That it happened when questioned by a journalist serving the public is salt in the wound too.
He literally told him the tax rise won't raise 12billion due to inflation hole on borrowing and the reply is they'll use the 12billion the rise won't raise to cover the NHS spending. Brilliant logic.
and the Tories are in charge, just saying...
Yeah but they still try and blame labour lol
I'm definitely feeling the pinge in the purse strings. Juggling 7 children and elderly mother single handedly as a single mother is challenging. It's now down to needs and wants are luxuries now and then.
At the same time I'm predicting a famine in the not too distant future. Shelves on the supermarkets are limited and goods that were there before covid no longer exist. Choices are becoming limited as prices rise exponentially. I live in New Zealand.
Why did you have 7 children? Children are incredibly expensive to raise, so the more you have, the higher your costs will be.
@@lighteningsnips In my culture children are a blessing and we have lands to support our families. We live in New Zealand to offer our children opportunity, good education and broaden their horizons. The good thing about us is we have two homes. We can always go back home and live the rural lifestyle if things get tough in the western world.
Yet she has an array of coffee pods and hot chocolate and brand named goods in her kitchen
So happy that I left England
Just in time
Best decision ever
Call it what it is : corporate greed . While the CEO’s / heads of the food and grocery companies are getting million dollar bonuses, making more money than ever in the pandemic, they choose to increase costs and keep their workers pay the same.
We need reporters like this in the USA not afraid to go toe to toe!
You don't raise wages you lower taxes .
If you raise wages then company's will raise prices to accommodate for the wage rises so it becomes an aggressive circle
So much for printing that money and giving it away, it all comes at a cost now, and we're paying it now.
My expenses have gone up by £105 a month. Luckily I can manage that though that means less being spent in the local economy on leisure spending. We are heading for a major recession.
Or if this deepens a depression. My great gran raised 12 children during the depression. My grandad being one of them.
They all survived. Because she was really switched on. She baked bread. Boiled nettle soup. Yes looking back they had all the nutrients they needed. And great gran had the skills.
No gas cookers just a fire lit range.
Difference was. She got her backside out of bed at 4.am. And cleared up the rats on the stone floor. Bleached the floor and cracked on.
We don't know hardship ffs.
@@lasttango7522 so do you wanna go back to that life style? so why are you using a computer and a mobile phone? use public phone and telegrams
@@workingclasszero868 Oh dear some one that lacks self awareness. Go back to your nice life coward.
These people clearly aren’t struggling, they just cannot have the luxuries they are used to. Well too bad, there are those who are hungry and cold 🥶
I agree, I have had to cut out luxuries several times in my lifetime, it didn’t kill me, just made me think more carefully about my priorities. There’s always someone worse off out there, truly struggling with no luxuries that can be cut back on.
The problem is housing
Two years later and it’s even worse now
Corner shops are generally more expensive. But if it works out the same if she got a bus then fair play
Regular supermarkets do not import meats like oxtail and goat. Just the mini markets.
b/s its brexit. France only putting there heating 4 % to our 54%
They produce a lot of their own nuclear. No need to import energy.
France Own EDF . Eon Germany , who do you think that will get the biggest rise . The UK .
I love how this anchor holds the officials feet to the fire.
She walked right past the Supermalt, too.
What is the Maltese food, she said she liked Caribbean food 🤔
No culture lol
It was because we printed to much free money. It was a obvious error
It was all part of the plandemic
@@ste9474 what’s the plan in the plandemic?
no mention of money printing. so funny
Real prices are about 15 percent. Don't listen to the stats.
Very apt commentary on a current issue many are facing the rising price of daily living in the UK. The family are being cautious and it is about adapting and being less instant as it's more costly cutting back is very hard on many families right now wish them the best. Maybe the young man for could make his own RUclips channel for his music?
WelCoMe To The BreXit Sir🖕
But they don't explain the root cause of inflation. It's caused by the central banks printing trillions of new dollars or pounds in a short period of time. Printing new money only helps for a short time before inflation kicks in.
Looks like she couldn’t resist getting the “Iceland have Frozen their prices” in there at 03:17
Buying supplies to stay alive is not living
Yes I agree totally