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You seriously have a big bias against the UK, this is like another video talking how its poor yet youve never lived there, just shitloading it, many people would still live rather outside London in places like Scotland and Wales than in most places in Europe. BS propaganda
@@pixievsp8989masterworks don’t lead anyone to make profit from artwork. That isn’t how the artwork industry works. There’s only a small portion of artwork that explode in value you and the majority end up being duds. That’s why it’s a BS investment.
Poland is not a developing country. Referring to Poland as a developing country overlooks advancements and the progress it has made since the fall of communism. Poland is recognized as one of the leading economies in Central and Eastern Europe. It is classified as a high-income economy by the World Bank with diverse and industrialized economy. Calling it such is extremly inappropriate and misleading.
Japan has a very good tax scheme called “Furusato Nōzei” or “Hometown Tax”. What this does is enable taxpayers to redirect their income taxes away from where they actually live to any tax municipality they like. Tax municipalities compete for taxpayers by offering local products and services for up to 30% of the tax paid. For example, if a Londoner redirects £10000 of his tax payments to municipality A then municipality A can gift the tax payer up to £3000 worth of local cheese. This scheme is such a success in Japan and it’s enabled income tax receipts to be distributed out of Tokyo, the capital. The scheme has also inspired municipalities to put on public relations campaigns to better communicate themselves, their goods/services, and their values, the better to compete against other municipalities for more tax receipts.
@@spaghettiisyummy.3623 Japan is full of industrious, smart, competent Japanese people... The Uk used to be full of industrious, smart, competent British people
I don’t think comparing the UK to the US makes much sense as the US is a much bigger and diversified economy. The U.S. has 4-5 regions that are engines of economic activity while the UK only has one. Also, labor mobility is very high in the US: if you can’t stomach New York rents you can move to the Midwest and get a good job that you still come out ahead. In the UK once you move out of London your prospects really scale down significantly.
@@catsfan_Mit is the third strongest economy in the world. If Germany had had the same land area as China or the USA, it would have absolutely the biggest economy in the world.
I live on the east Kent coast, I can assure you, it’s not rich. There is homelessness, poverty and destitution in many places in the south east of England.
@wiktorjachyra. Sure. What else do you expect from delusional people living in the past but will do everything to twist the truth and continue to compare disparagingly with countries who have overtaken them?
@Kmarsden123. Because Poland is not what a Brit has seen of it, during WWII! Just because a lot of Poles worked in UK, pre-brexit, doesn't mean much in regards to today's Poland in terms of education, health, poverty and economic data. Population taken as a whole, they are ahead of the UK in many economic parameters! If you've been awake during the vid, the top 8 of the 10 poorest areas in Europe are in UK!
@@alesh2275 first that and now cut off from the biggest trading partner across the channel, if it is not economic suicide dunno what it is. UK should rejoin asap at least in a Norway model to regain access to common market for trade
No, the UK is not to blame for this!!! I think it's all about the imperial past of Great Britain, where even then London was named the Capital of the world!!! In this regard, Great Britain is very similar to Russia, also with the imperial past of the Russian Empire and then the USSR, where all wealth, business and influence are concentrated in Moscow, where Moscow is richer, more populous and more influential than London. In my opinion, there is even a smaller gap between London and the province than between Moscow and the province!!!
We have more houses in the UK than ever before - FACT. We do not have a housing shortage; we have an Immigration Surplus! Fact. If the 10 million immigrants that came into the UK over the last 30 years approximately were deported, then we would have a housing surplus on a massive scale & real estate prices would fall back to historic norms. The housing shortage is political & media propaganda & used to mask the true sources of the problems. In case this is censored or deleted; I have yet again saved this into my own Word document, together with the rest of the boobTube censored comments.
Not to say that the figure is real but wealth of the top 1% is NOT made by personal income from a job. It is made from investments and passive income. So it doesn'5 show up as regular personal income.
Thats the minimum to be inside the top one percentile . 0.9% of that 1% earns a hell of allot more. You only need 85k to be top 5% and only need 40k to be in the top 30% But income and wealth arnt directly linked. If you earn 100k but was borne on a council estate you will never catch up to someone making 40k who has generational wealth.
Property bubble sucked life out of any country, UK especially stifles income growth, mobility, productivity and increases wage gap, assets accumulation in hands of already rich,
Not all of London and the South East is rich!, nore is all of the North and Midlands poor! Yeah, London and the South East get more government money than the rest of the country, but the rest of the country still had its fare share of wealth. In my opinion, the government needs to stop over spending on the South East and start spending the money they get everywhere else in the country!
Boris said he would rather invest a pound in London than Glasgow or Liverpool, as returns in London are higher. What he failed to say is that for centuries the rest of the island supported London and the South East through the Industrial revolution to the mid 70's. A lot of effort was made to make London and the South East the centre of everything, everything was centralised there due to being drawn there by government initiative after WW2. This had a run away effect where anyone who was anyone or anyone with talent would have to move to London to excel at anything, this drained brains and talent from all the other regions. The other regions North of the divide were ignored and left to rot with non leadership or investment for decades. London is not the UK, it is a parasite that takes away resources to make itself wealthy. I would support London if it was truly a Capital of the whole UK, but it is proven to only be a Capital of itself with its own self interests at heart.
Ok, so I knew Charleroi (the region you ranked 9th poorest ) was bad, but I still thought they'd be ahead of the bordering regions in Northern France. That's a bit of a shock. Direct concequence of the Walloon region having zero responsibility to balance their budget, of course, but still surprising to me.
The UK has many problems, but the biggest is the lack of housing. This has led to very high property prices and rents. These in turn make it extremely hard for people to move from the poorer areas to places where the jobs are. The current huge wave of immigration makes the problem even more intractable.
Sorry, can’t entirely agree. Yes there is a shortage of available homes, particularly affordable homes. But there are almost a million homes standing empty at any given times, second homes, short term lets, homes bought through companies, not forgetting homes that have fallen into disrepair and have been abandoned. You can’t blame this on immigration, a lot of this comes down to greed and speculation, or lack of investment. Thatcher selling off social housing and not reinvesting in more houses started the rot.
@@garycarmichael8432, net immigration of 700,000 does play a part though even if those million homes were out onto the market. Because net migration of 700,000 means that within three years, you'll have pretty much the same housing shortage again.
@@inbb510 you seem to have ignored the fact that people die and also emigrate. You’re equating the issue to an influx of people without considering that the population won’t always grow. The average age in the UK now is 42, that just goes to show that balance has shifted towards a proliferation of older people. As I’m in my sixties I count myself as being one of them. The UK needs younger people to stay productive, the birth rate has fallen in quite a few western democracies, so we need immigration to function. Now that we have a new government, hopefully we can clear the asylum backlog and allow those who are awaiting asylum to be able to work, pay taxes, contribute towards GDP and be independent.
@@garycarmichael8432 but that’s the issue. We’ve become an immigrant dependent economy and that comes with its own issues politically, socially, and economically. Really we should be pushing for radical economic reforms to make it easier to become homeowners and create families but unfortunately there isn’t a serious demand for it and even if there is nobody can agree on how to go about it.
@@JackCooper243it’s very easy. build more houses. we’ve done it before. victorian era and also post ww2. we built whole cities from scratch. problem now is why on earth should we do that? capitalism rules. building more houses pushes down asset prices. not good for the wealthy. we know who controls the economy. no such thing as democracy.
This makes out like if you dont live in London you're visiting food banks. Its quite the opposite. Move out of London and get a job anywhere else and youll be able to afford a home and save. Scotland has some very affordable safe and good places to live where an average salary will give you a home and a good life.
@@wulfsorenson8859 No it isn't lol. London people are just in a bubble. My wife and I earn 60k between us and own a 4 bed house in Scotland with a modern car and save 1k a month. Last Saturday we hiked up Ben Vrackie in the sun and had a pub lunch for £20 quid. It's all relative.
@@xerogue those Scandinavians are certainly more progressive than us. I think that there is still an element of capitalism within the Norwegian approach, they do want to make money after all. But there is also a more socialist approach of making sure that the population as a whole will benefit from their endeavours, rather than just the rich and well connected.
@@xerogue"Scandinavian socialism" isn't really socialism but socialdemocracy. And, by the way, Scandinavian countries are probably the most capitalistic countries on Earth, with very diversified economies and good rating on the easyness to do business.
@@xerogue They are extreme capitalist bro. Its in their constitution if a national company has difficulties they let it die. They just almost never had problems because they have very good anti-corruption laws and are very conservative with their money. But they are the freest places on earth to develop businesses. There is 0 socialism in the Nordic Countries.
The south east still includes all the inner london and outer london poverty, Medway, pretty much all of Thurrock (especially Tilbury), anywhere else on the Thames estuary, Thanet, Luton, Basildon, Slough etc The workers for the wealthy and the workers who keep things running still need to be housed somewhere
The way it fit into this video is kinda ugly. "Oh yea things are shit but that's only because groups like masterworks haven't arrived sooner." That was the vibe I got in that moment. ouch.
This is an eye-opening video, I didn’t realize the level of poverty people in the UK (outside London) were living in these days. Thanks for this informative video.
This makes no sense to me. You can get a house in northern parts of Britain quite easily compared to the south because house prices are much lower. Try buying a basic 2 bedroom house in the South East on less than a £60,000 salary..... you will struggle in most parts of the South East. If anything, you are poorer in the South East because most people in the UK earn less than £35,000, which doesn't go as far in the South.
i noticed that the politicians in the uk are more elitist than in other countries they just seem to not really interact much with average people and are focussed on very random issues like fox hunting and don't take criticism well
The problem is that because the infrastructure and services are privately owned, the rich are getting richer by passive income. Interest without taxes mean they make money just by owning something that makes money. The problem is they aren't taxed properly or fairly.
Just had an argument about this with a friend who wants to move to UK: even though the GDP/Capita is higher, here we pay 4-500 euros for renting a 3 room 2 bedroom apartment, or you can buy a 1 br apartment with 50-60k euros, which for programmers or office workers is doable. I know that life for the average person sucks, but it also does in the UK. There is also another thing, you pay 1M pounds for a house in London and you can't even choose what colour it will be? The weather is worse, I think that in 20-30 years it will be a no brainer to return to Romania, as a lot of people from Spain/Italy did
I have a Spanish client in Poland with his two teenage children and life is very good there for his kids but hard for him mainly because his wife is based in Madrid as a public school teacher and can't relocate to be with him. From everything I've seen, the UK overall is much worse off for the average person than Poland.
Not everyone in London is rich. It's got more than its fair share of poverty. Mostly imported. And, not everyone in the North is poor. Factor in the price of houses or rent and any increase in wages in London are soon negated. £ 700,000 wouldn't go far in London, in the north you'll live like a king. My friends father owns a house in Gujerat, India. It's huge, has four floors, looks more like a small hotel, and sits in extensive gardens. In England, he's not particularly wealthy but in India... Wealth is relative.
Indeed wealth is relative, and indeed the UK is poor compared to its peers. Sure, some dude in the north might technically be better off than some guy in the south, adjusting for col. but now compare that dude to some guy in even a poor country like slovenia, lol.
Also important to remember that although it’s true regarding cost of living, the poorest cities are still outside of the South East. Although there is poverty in the South East and wealth in the North, there is still more wealth in the South East than everywhere else in the country, even factoring in cost of living.
It's really sad that whenever talking about gdp countries from central Eastern Europe serves as an example of failure, poverty and are treated with contempt.
The real problem the UK is facing is that UK pension funds are not investing in developments in the UK in favour of foreign developments which have much higher returns hence the situation you are presenting seems much worse than it is. The EU didn't do anything about it - normally it is famous for random developments in the middle of nowhere - hence Brexit. One of the factors you may want to consider in further analysis is the economic equivalent of "goodwill" which makes up 90% of the value of an accountancy business. How much more investment would it take to catch up to the UK's level of development and how much does that affect the quality of the citizen's lives? Sure, the UK is like Mississippi but that's not a such a bad thing imho.
Give it a rest, Britain gave up its colonies over 70 years ago and you are still banging on about it. And overall we are still doing OK we have the 6th largest economy and 6th most powerful military. Where does your country rank ? Also you are saying that all Britain did was loot its former colonies. Yet all of its former colonies are now some of the most successful countries in the world. Canada, Australia, New Zealand and many others are now very successful countries.,if you compare that to other colonised countries like all of South America. They are nowhere near as prosperous as Britain's former colonies. If all Britain did was plunder, how do you explain this? It can't be just a coincidence.
5:49 "Today the UK is the most unequal rich country after the US" What a weird coincidence the two countries speaking the most learned language in the world and takes in the most amount of immigrants are the most unequal. If only they didn't do that pesky privatisation those immigrants would be rich!
London was always a country within a country with its financial services a centralised wealth generating industry. The rest of the country has included productive hotspots at different times due to technology and market opportunities. The massive challenge for governments is to spread this wealth creation more evenly.
Blaming this on income/wealth inequality is misguided. The problem is insufficient consumption and the vast majority of that wealth at the top is invested into producing consumption in the first place. Going after it doesn’t solve anything. The issue is just that there isn’t nearly enough supply in the market due to bad policy. That means there isn’t enough for everyone and the limited supply goes only to the highest bidders. Take housing for example, it is scarce due to mass immigration and very restrictive permitting laws for new construction. Or take energy, that is scarce due to the confluence of anti-fossil fuel and anti-nuclear policy. Add in Russia sanctions and it’s a disaster.
Notice how these videos have all emerged after 14 years of austerity rule? Back in 2007, the UK averaged GDP PC rivalling the USA, on the back of a quarter century of prosperity. Austerity is continuing under labour so this is a problem affecting UK political will and culture across all parties.
I mean, if the UK kept importing on a massive scale low-to-no-skills workers starting from the 90s, what is to wonder that the average income went down from the 90s? Also, spamming welfare and benefits on perfectly able-bodied people that will then have no incentives to find stable legal jobs did not help either.
privatization is mentioned many times in this video. I don't think it is the problem. Public run oil companies and factories is usally ineffective and will be uncompetetive over the long term. I think it is the tax code that is the problem and poor public schools - a modern contry need to find a way to get good education to the all of the population.
If a government can no longer efficiency manage public, state owned assets and infrastructure / utilities then privatisation is OK. But not private monopolies and cartels. 49 percent of these companies shares should be state owned and shares then distributed to all taxpayers personally so citizens can get paid dividends when profitable.
Answer: inequality and pirate capitalism on the island. In many capitalist economies some inequity is inevitable, but the divide in the UK is the worst, for any 'democratic capitalist' country.
@@Talus-hallux1 I want to know where you get your information from into why you said the Poland has higher wages than the Uk because it most cerainly isn’t true
Interesting video , but I live in northern England and think there's alot more to it , for example I live in Sheffield on 38 thoasand and my cousin lives in London on 240 thoasand, he has a 3 bed semi with no driveway, I have a detached house with lots of off road parking, you get a lot better standard of living for a lot less up north , from what I see most northern people have a better quality of life than londoners , but that's just my opinion, also I've travelled all over Europe and I definitely don't see the uk as poor living standards
Massive correction. The referendum in 1975 was not to "enter the European Union". It was a referendum to confirm a decision the government had already made to enter the "European Economic Community" which was not a political union at the time
Was looking for this exact comment. The EU didn't exist until the Maastricht treaty in 1994, which major signed without allowing due diligence in parliament. Brown did the same with the lisbon treaty, though he arrived late to the signing.
I remember after 1980 on our case, Greece! I understand that everyone knew it was going to be political! Greece joined the European union mostly for political and geopolitical purposes. Economy was important but secondary in Greeks' decision hence more than 60% of the population did not want the agreement! I have to admit that when money started to flow this percentage decreased significantly! I assume that for an industrialised country the terms were in reverse!
GDP is a poor metric for economic well-being. The manipulation of money produces nothong of intrinsic value. It produces wealth for a few, because the political order is structures to benefit bankers and money managers.
We have more houses in the UK than ever before - FACT. We do not have a housing shortage; we have an Immigration Surplus! Fact. If the 10 million immigrants that came into the UK over the last 30 years approximately were deported, then we would have a housing surplus on a massive scale & real estate prices would fall back to historic norms. The housing shortage is political & media propaganda & used to mask the true sources of the problems. In case this is censored or deleted; I have yet again saved this into my own Word document, together with the rest of the boobTube censored comments.
Calling Poland a developing country is insane. They might be the best country for young people in Europe. And before any comment of bias Im portuguese. I have no stakes on this.
The distribution of wealth is uneven and the middle class is moving towards poverty, which is also known as "M-shaped". This is a trend around the world. This trend is caused by the ruling parties in each country. The easiest way for the ruling party to win the support of voters is to print money, build large-scale public construction, and improve social welfare. Voters appreciate this immediate benefit, like free wine at a party. Printing money is the main culprit of M-shape. Printing money "devalues" the salaried class! The salary of the middle class has been relatively depreciated the most. This is true in Taiwan, and it is true all over the world. Massive public construction, especially with debt, does little to help economic growth. It just adds to the debt. Social welfare is more like a collective drug addiction, getting deeper and deeper into it. Once social benefits are withdrawn, it's like a drug withdrawal situation. What the ruling party should do is innovate in "new industries." Sharing the high wages of innovative industries with the young middle class is the foundation for social progress and stability.
@@HindsightYT maybe about the "Finanzausgleich“. A system where the poorerer regions get supported by the rich regions. Or how there are different taxes and laws in every 26 cantons. Kinda like the US.
All the money made in Scotland goes to London, hence why they are the 1% super wealthy and in Scotland many are poor. Its why we need independence in Scotland.
Fascinating, scary and very sad.. This is coming from a Brit. Sadly I can't help but believe that this malaise is the result of, generally, arrogant and populist right wing politics in the UK. Brexit is the prime result of this and we are paying heavily for it. There has been an increasing rise in 'short termism' in the country for decades and a decrease of workers rights. I don't support overly powerful trades unions but I also don't support rampant deregulation resulting in the growing wealth of 'the few' and the decreasing wealth of the proletariat ... The UK is absolutely terrible at reaching a pragmatic middle ground that fulfills the needs of most of the population. I can only say we have lost the plot.
Stop posting BS and belittling countries like Poland! This is not the 70s! Poland's percapita, wages, employment, productivity, and many other indicators are far better than UK's. Go figure.
It's bizarre to compare the economies of London (metropolitan pop15 million) and Anglesey (70k.......recognised as the poorest place in Europe for many, many years).....the contrast has always existed so it seems to be a very sensationalist piece of reporting. The West Wales and the Valleys region of the EU was Category 1 Objective funded from 2000 due to high levels of deprivation...nothing new 25 years on.....
This video just proved why we need Socialism and why the Socialist prime Ministers from Clement Attlee to Harold Wilson keeped living standards high and wealth inequality low.
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Purchase shares in great masterpieces from artists like Pablo Picasso, Banksy, Andy Warhol, and more.
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Stop selling a scam. You know it is.
@@JasperKlijndijk genuinly, its so disingenuous
You seriously have a big bias against the UK, this is like another video talking how its poor yet youve never lived there, just shitloading it, many people would still live rather outside London in places like Scotland and Wales than in most places in Europe. BS propaganda
Don’t invest in masterworks it’s a scam!!
@@1neer5op99 correct
Please stop pushing scams, your content is good, don’t throw that away with shitty sponsors
Do not sell me masterwork. You know it is a scam. Some people trust you and will buy a scam because of you
agreed. but in general, all youtube sponsors are scams (ftx, yotta, etc)
what do u mean
@@pixievsp8989the ad in the video is a investment website
@@pixievsp8989their sponsor
@@pixievsp8989masterworks don’t lead anyone to make profit from artwork. That isn’t how the artwork industry works. There’s only a small portion of artwork that explode in value you and the majority end up being duds. That’s why it’s a BS investment.
Poland is not a developing country. Referring to Poland as a developing country overlooks advancements and the progress it has made since the fall of communism. Poland is recognized as one of the leading economies in Central and Eastern Europe. It is classified as a high-income economy by the World Bank with diverse and industrialized economy. Calling it such is extremly inappropriate and misleading.
I agree. Poland's manufacture industry is MASSIVE. Polish cities look very modern.
For real, the tone of his voice when he said Poland and Slovenia was also 💀💀💀
Poland is still poor. 1 pound is what lie 10 PLN?
What industry does Poland lead in?
@@xerogue But its cheaper to buy stuff inside Poland, so to compare Income you also have to use PPP, its not perfect but a better approximation.
Japan has a very good tax scheme called “Furusato Nōzei” or “Hometown Tax”.
What this does is enable taxpayers to redirect their income taxes away from where they actually live to any tax municipality they like. Tax municipalities compete for taxpayers by offering local products and services for up to 30% of the tax paid. For example, if a Londoner redirects £10000 of his tax payments to municipality A then municipality A can gift the tax payer up to £3000 worth of local cheese.
This scheme is such a success in Japan and it’s enabled income tax receipts to be distributed out of Tokyo, the capital. The scheme has also inspired municipalities to put on public relations campaigns to better communicate themselves, their goods/services, and their values, the better to compete against other municipalities for more tax receipts.
Thank so much for taking the time to explain this wonderful concept and practice to all of us!
Japan functions so well..
I wonder how they did it.
Nice. That could work in countries whose capitals have tremendous influence, such as Korea or Mexico.
@@spaghettiisyummy.3623 Japan is full of industrious, smart, competent Japanese people... The Uk used to be full of industrious, smart, competent British people
@@spaghettiisyummy.3623The work culture of Japan is much different.
I don’t think comparing the UK to the US makes much sense as the US is a much bigger and diversified economy.
The U.S. has 4-5 regions that are engines of economic activity while the UK only has one.
Also, labor mobility is very high in the US: if you can’t stomach New York rents you can move to the Midwest and get a good job that you still come out ahead. In the UK once you move out of London your prospects really scale down significantly.
One caveat from your very good points is that mobility in the US is also at an all time low.
Germany did it right. Make world-class stuff and export it around the world.
German economy isn't that great anymore..
@@catsfan_M Declining birthrate and massive infusion of africans will ruin the German economy and culture.
Not that greag but germany has become the third largest economy lately! Not too bad for a faltering economy right!
@@catsfan_Mit is the third strongest economy in the world. If Germany had had the same land area as China or the USA, it would have absolutely the biggest economy in the world.
@@clavel040281 It didnt become the third because it became better, Japan slipped from third
I live on the east Kent coast, I can assure you, it’s not rich. There is homelessness, poverty and destitution in many places in the south east of England.
Margate?
I am just curious but what are the ancestral origin of most of the homeless people in your area?
@@RendererEP close, but not Margate.
@@Lazerfire all different nationalities, it's quite diverse.
As bad as Sheppey? One of the worst areas in Kent.
Poland is not a middle income developing country its literally categorized as high income developed since the early 2000s by the world bank.
Always one offended pole in every comment section
he's referring to GDP nominal instead of PPP, which is a more fair way to compare nations.
@wiktorjachyra. Sure. What else do you expect from delusional people living in the past but will do everything to twist the truth and continue to compare disparagingly with countries who have overtaken them?
@Kmarsden123. Because Poland is not what a Brit has seen of it, during WWII! Just because a lot of Poles worked in UK, pre-brexit, doesn't mean much in regards to today's Poland in terms of education, health, poverty and economic data. Population taken as a whole, they are ahead of the UK in many economic parameters!
If you've been awake during the vid, the top 8 of the 10 poorest areas in Europe are in UK!
@@Talus-hallux1 I don't care mate
It’s the UK’s fault that they deindustrialized and put their focus on the financial sector.
@@alesh2275 first that and now cut off from the biggest trading partner across the channel, if it is not economic suicide dunno what it is. UK should rejoin asap at least in a Norway model to regain access to common market for trade
Blame the tories!
Government policy caused it.
No, the UK is not to blame for this!!! I think it's all about the imperial past of Great Britain, where even then London was named the Capital of the world!!! In this regard, Great Britain is very similar to Russia, also with the imperial past of the Russian Empire and then the USSR, where all wealth, business and influence are concentrated in Moscow, where Moscow is richer, more populous and more influential than London. In my opinion, there is even a smaller gap between London and the province than between Moscow and the province!!!
@@DMD82indeed
UK has over 17,000,000 House Shortages .
This is the biggest issue in the UK right now
same with australia and canada
We have more houses in the UK than ever before - FACT.
We do not have a housing shortage; we have an Immigration Surplus! Fact.
If the 10 million immigrants that came into the UK over the last 30 years approximately were deported, then we would have a housing surplus on a massive scale & real estate prices would fall back to historic norms.
The housing shortage is political & media propaganda & used to mask the true sources of the problems.
In case this is censored or deleted; I have yet again saved this into my own Word document, together with the rest of the boobTube censored comments.
@@johnkay4701 Pretty much all of my political comments get deleted by youtube. They need to get sued.
@@johnkay4701 britain which ones capture whole world cant even save their own kind of sad
@@metalema6 BoobTube are definitely complicit in the Agenda inflicted upon the British peoples & indeed most of the 'so called' developed nations.
The top 1% of UK earners make around 180k. Your video says that they make 1700k for every dollar someone in the bottom 90% makes? That's total garbage
Not to say that the figure is real but wealth of the top 1% is NOT made by personal income from a job. It is made from investments and passive income. So it doesn'5 show up as regular personal income.
Thats the minimum to be inside the top one percentile . 0.9% of that 1% earns a hell of allot more.
You only need 85k to be top 5% and only need 40k to be in the top 30%
But income and wealth arnt directly linked. If you earn 100k but was borne on a council estate you will never catch up to someone making 40k who has generational wealth.
Property bubble sucked life out of any country, UK especially stifles income growth, mobility, productivity and increases wage gap, assets accumulation in hands of already rich,
It is a Juw plantation.
You’d be a good partner with Jay Foreman at explaining this.
Why is he keep talking about Northern Europe while showing the map of Western Europe?
Did he just call Poland a developing country?
I was surprised too 😧
Not all of London and the South East is rich!, nore is all of the North and Midlands poor! Yeah, London and the South East get more government money than the rest of the country, but the rest of the country still had its fare share of wealth.
In my opinion, the government needs to stop over spending on the South East and start spending the money they get everywhere else in the country!
Boris said he would rather invest a pound in London than Glasgow or Liverpool, as returns in London are higher. What he failed to say is that for centuries the rest of the island supported London and the South East through the Industrial revolution to the mid 70's. A lot of effort was made to make London and the South East the centre of everything, everything was centralised there due to being drawn there by government initiative after WW2. This had a run away effect where anyone who was anyone or anyone with talent would have to move to London to excel at anything, this drained brains and talent from all the other regions. The other regions North of the divide were ignored and left to rot with non leadership or investment for decades. London is not the UK, it is a parasite that takes away resources to make itself wealthy. I would support London if it was truly a Capital of the whole UK, but it is proven to only be a Capital of itself with its own self interests at heart.
@@nk53nxgBoris said the northerners are lazy low class people
Ok, so I knew Charleroi (the region you ranked 9th poorest ) was bad, but I still thought they'd be ahead of the bordering regions in Northern France. That's a bit of a shock. Direct concequence of the Walloon region having zero responsibility to balance their budget, of course, but still surprising to me.
The UK has many problems, but the biggest is the lack of housing. This has led to very high property prices and rents. These in turn make it extremely hard for people to move from the poorer areas to places where the jobs are. The current huge wave of immigration makes the problem even more intractable.
Sorry, can’t entirely agree. Yes there is a shortage of available homes, particularly affordable homes. But there are almost a million homes standing empty at any given times, second homes, short term lets, homes bought through companies, not forgetting homes that have fallen into disrepair and have been abandoned. You can’t blame this on immigration, a lot of this comes down to greed and speculation, or lack of investment. Thatcher selling off social housing and not reinvesting in more houses started the rot.
@@garycarmichael8432, net immigration of 700,000 does play a part though even if those million homes were out onto the market. Because net migration of 700,000 means that within three years, you'll have pretty much the same housing shortage again.
@@inbb510 you seem to have ignored the fact that people die and also emigrate. You’re equating the issue to an influx of people without considering that the population won’t always grow. The average age in the UK now is 42, that just goes to show that balance has shifted towards a proliferation of older people. As I’m in my sixties I count myself as being one of them. The UK needs younger people to stay productive, the birth rate has fallen in quite a few western democracies, so we need immigration to function. Now that we have a new government, hopefully we can clear the asylum backlog and allow those who are awaiting asylum to be able to work, pay taxes, contribute towards GDP and be independent.
@@garycarmichael8432 but that’s the issue. We’ve become an immigrant dependent economy and that comes with its own issues politically, socially, and economically. Really we should be pushing for radical economic reforms to make it easier to become homeowners and create families but unfortunately there isn’t a serious demand for it and even if there is nobody can agree on how to go about it.
@@JackCooper243it’s very easy. build more houses. we’ve done it before. victorian era and also post ww2. we built whole cities from scratch.
problem now is why on earth should we do that? capitalism rules. building more houses pushes down asset prices. not good for the wealthy. we know who controls the economy. no such thing as democracy.
The issue is Greed
Juws
Semitic greed to be exact
This makes out like if you dont live in London you're visiting food banks.
Its quite the opposite. Move out of London and get a job anywhere else and youll be able to afford a home and save.
Scotland has some very affordable safe and good places to live where an average salary will give you a home and a good life.
Yeah like minimum wage land of Devon and Cornwall.
Try buying a home here on that!
Same applies in many other counties.
I was looking for a proud Brit arguing the facts and numbers.
Also it’s hard to get decent jobs outside of London.
@@wulfsorenson8859 No it isn't lol.
London people are just in a bubble. My wife and I earn 60k between us and own a 4 bed house in Scotland with a modern car and save 1k a month. Last Saturday we hiked up Ben Vrackie in the sun and had a pub lunch for £20 quid. It's all relative.
@@tommyr7105 ok boomer 😅
Living less people in Norway.
And they have extreme fund with oil and gas money.
That’s because Norway didn’t sell their assets off like the UK did. Norway had a different mentality.
@@garycarmichael8432Norway embraces socialism, you mean. The Uk however, embraced capitalism, sell to the highest bidder! Now look at them, hahahaha.
@@xerogue those Scandinavians are certainly more progressive than us. I think that there is still an element of capitalism within the Norwegian approach, they do want to make money after all. But there is also a more socialist approach of making sure that the population as a whole will benefit from their endeavours, rather than just the rich and well connected.
@@xerogue"Scandinavian socialism" isn't really socialism but socialdemocracy. And, by the way, Scandinavian countries are probably the most capitalistic countries on Earth, with very diversified economies and good rating on the easyness to do business.
@@xerogue They are extreme capitalist bro. Its in their constitution if a national company has difficulties they let it die. They just almost never had problems because they have very good anti-corruption laws and are very conservative with their money. But they are the freest places on earth to develop businesses.
There is 0 socialism in the Nordic Countries.
You are spot on with this report.
Something people miss is doing business anywhere in the UK almost always looks like you're doing at least some business within London.
The south east still includes all the inner london and outer london poverty, Medway, pretty much all of Thurrock (especially Tilbury), anywhere else on the Thames estuary, Thanet, Luton, Basildon, Slough etc
The workers for the wealthy and the workers who keep things running still need to be housed somewhere
Poland: "Hello there."
General Kenobi!
calling poland a "developing economy" 🤣
Masterful Ad Sneak by Masterwork.
Selling scams should a violation
The way it fit into this video is kinda ugly.
"Oh yea things are shit but that's only because groups like masterworks haven't arrived sooner."
That was the vibe I got in that moment.
ouch.
Not really.
Hahah Slovenia is NOT some third world country.. we live like kings in ur England...
Third world country economic term hain hi nahi.Third world country wo they jo naa to capitalist bloc aur naa toh soviet block mein they.
This is an eye-opening video, I didn’t realize the level of poverty people in the UK (outside London) were living in these days. Thanks for this informative video.
I'd like to see the definition of poverty that's being used.
This makes no sense to me. You can get a house in northern parts of Britain quite easily compared to the south because house prices are much lower. Try buying a basic 2 bedroom house in the South East on less than a £60,000 salary..... you will struggle in most parts of the South East. If anything, you are poorer in the South East because most people in the UK earn less than £35,000, which doesn't go as far in the South.
i noticed that the politicians in the uk are more elitist than in other countries they just seem to not really interact much with average people and are focussed on very random issues like fox hunting and don't take criticism well
The problem is that because the infrastructure and services are privately owned, the rich are getting richer by passive income.
Interest without taxes mean they make money just by owning something that makes money.
The problem is they aren't taxed properly or fairly.
Okay but that thumbnail is a lie as someone who lives in Birmingham you are very wrong
Need to get those Ps up. Both the money and the pronunciation of the letter.
Just had an argument about this with a friend who wants to move to UK: even though the GDP/Capita is higher, here we pay 4-500 euros for renting a 3 room 2 bedroom apartment, or you can buy a 1 br apartment with 50-60k euros, which for programmers or office workers is doable. I know that life for the average person sucks, but it also does in the UK. There is also another thing, you pay 1M pounds for a house in London and you can't even choose what colour it will be? The weather is worse, I think that in 20-30 years it will be a no brainer to return to Romania, as a lot of people from Spain/Italy did
much faster than 20-30 years.
I have a Spanish client in Poland with his two teenage children and life is very good there for his kids but hard for him mainly because his wife is based in Madrid as a public school teacher and can't relocate to be with him. From everything I've seen, the UK overall is much worse off for the average person than Poland.
Great content, thanks
Imagine stealing from other countries only to found out that your own country is being stolen
Not everyone in London is rich. It's got more than its fair share of poverty. Mostly imported.
And, not everyone in the North is poor. Factor in the price of houses or rent and any increase in wages in London are soon negated.
£ 700,000 wouldn't go far in London, in the north you'll live like a king. My friends father owns a house in Gujerat, India. It's huge, has four floors, looks more like a small hotel, and sits in extensive gardens. In England, he's not particularly wealthy but in India...
Wealth is relative.
Indeed wealth is relative, and indeed the UK is poor compared to its peers. Sure, some dude in the north might technically be better off than some guy in the south, adjusting for col. but now compare that dude to some guy in even a poor country like slovenia, lol.
Also important to remember that although it’s true regarding cost of living, the poorest cities are still outside of the South East. Although there is poverty in the South East and wealth in the North, there is still more wealth in the South East than everywhere else in the country, even factoring in cost of living.
Its a Bulgaria with London tacked-on.
BS
Inequality by design, not accident.
Man did dirty to Poland 😅
50 families got 50% of UK economic?😱😱😱 I can't believe it!
When was the UK the richest country on the world? 150 years ago?
14 years of tories directing wealth towards the rich whilst taking more from the poor can only ever result in a bad outcome for most
It's really sad that whenever talking about gdp countries from central Eastern Europe serves as an example of failure, poverty and are treated with contempt.
Saying like Slovenia and Poland aren’t one of the best places to live
The real problem the UK is facing is that UK pension funds are not investing in developments in the UK in favour of foreign developments which have much higher returns hence the situation you are presenting seems much worse than it is. The EU didn't do anything about it - normally it is famous for random developments in the middle of nowhere - hence Brexit. One of the factors you may want to consider in further analysis is the economic equivalent of "goodwill" which makes up 90% of the value of an accountancy business. How much more investment would it take to catch up to the UK's level of development and how much does that affect the quality of the citizen's lives? Sure, the UK is like Mississippi but that's not a such a bad thing imho.
my friends distribute vodka as a past time.
Stop falling into the GDP fallacy. GDP = the wealth of the 1%. 🙄
No more loot from the colonies.
Loot from the indus is running out. 😂
The colonies are actually looting the motherland
Give it a rest, Britain gave up its colonies over 70 years ago and you are still banging on about it.
And overall we are still doing OK we have the 6th largest economy and 6th most powerful military.
Where does your country rank ?
Also you are saying that all Britain did was loot its former colonies. Yet all of its former colonies are now some of the most successful countries in the world. Canada, Australia, New Zealand and many others are now very successful countries.,if you compare that to other colonised countries like all of South America. They are nowhere near as prosperous as Britain's former colonies. If all Britain did was plunder, how do you explain this? It can't be just a coincidence.
@@tryaluck Exactly
5:49 "Today the UK is the most unequal rich country after the US" What a weird coincidence the two countries speaking the most learned language in the world and takes in the most amount of immigrants are the most unequal. If only they didn't do that pesky privatisation those immigrants would be rich!
London was always a country within a country with its financial services a centralised wealth generating industry. The rest of the country has included productive hotspots at different times due to technology and market opportunities. The massive challenge for governments is to spread this wealth creation more evenly.
What do you mean always? Financial services were literally invented in Edinburgh.
Little London exploiting its uncivilised nearby countries lol.
Property is not taxed, hard work is taxed.
Council tax is based on 1991 house prices, so theyre meaningless
Why does everyone keep saying negative things about 🇬🇧😭😭😭
negara penjajah
London might be the most affluent part of the UK but I wouldn't live there if you gave me a free mansion in Mayfair!
Blaming this on income/wealth inequality is misguided. The problem is insufficient consumption and the vast majority of that wealth at the top is invested into producing consumption in the first place. Going after it doesn’t solve anything. The issue is just that there isn’t nearly enough supply in the market due to bad policy. That means there isn’t enough for everyone and the limited supply goes only to the highest bidders.
Take housing for example, it is scarce due to mass immigration and very restrictive permitting laws for new construction. Or take energy, that is scarce due to the confluence of anti-fossil fuel and anti-nuclear policy. Add in Russia sanctions and it’s a disaster.
Its hard to see the UK to be skrewed over by incompetentce. Once the greatest nation in the world.
The video is good but pls don’t advertise such a weird investment business
starts with a withmongering bs, do better!
THIS IS MISLEADING
Notice how these videos have all emerged after 14 years of austerity rule? Back in 2007, the UK averaged GDP PC rivalling the USA, on the back of a quarter century of prosperity.
Austerity is continuing under labour so this is a problem affecting UK political will and culture across all parties.
What the USA & South Africa learned from Britain, is Inequality.
I mean, if the UK kept importing on a massive scale low-to-no-skills workers starting from the 90s, what is to wonder that the average income went down from the 90s? Also, spamming welfare and benefits on perfectly able-bodied people that will then have no incentives to find stable legal jobs did not help either.
America is the same in a way.😮😮😮
privatization is mentioned many times in this video. I don't think it is the problem. Public run oil companies and factories is usally ineffective and will be uncompetetive over the long term. I think it is the tax code that is the problem and poor public schools - a modern contry need to find a way to get good education to the all of the population.
sure mate whatever helps you sleep at night.
If a government can no longer efficiency manage public, state owned assets and infrastructure / utilities then privatisation is OK. But not private monopolies and cartels. 49 percent of these companies shares should be state owned and shares then distributed to all taxpayers personally so citizens can get paid dividends when profitable.
All this doesn't matter.
We just have to keep spreading and forcing our beautiful democracy onto other nations so they can feel our greatness 😊
Let me fix it. London is the richest, and rest of the UK will be the poorest of Europe.
No this is BS, adjusted for the cost of living other parts like wales and Scotland are better off many European countries
Answer: inequality and pirate capitalism on the island. In many capitalist economies some inequity is inevitable, but the divide in the UK is the worst, for any 'democratic capitalist' country.
@@Talus-hallux1 I want to know where you get your information from into why you said the Poland has higher wages than the Uk because it most cerainly isn’t true
Interesting video , but I live in northern England and think there's alot more to it , for example I live in Sheffield on 38 thoasand and my cousin lives in London on 240 thoasand, he has a 3 bed semi with no driveway, I have a detached house with lots of off road parking, you get a lot better standard of living for a lot less up north , from what I see most northern people have a better quality of life than londoners , but that's just my opinion, also I've travelled all over Europe and I definitely don't see the uk as poor living standards
Massive correction. The referendum in 1975 was not to "enter the European Union". It was a referendum to confirm a decision the government had already made to enter the "European Economic Community" which was not a political union at the time
Was looking for this exact comment. The EU didn't exist until the Maastricht treaty in 1994, which major signed without allowing due diligence in parliament. Brown did the same with the lisbon treaty, though he arrived late to the signing.
I remember after 1980 on our case, Greece! I understand that everyone knew it was going to be political! Greece joined the European union mostly for political and geopolitical purposes. Economy was important but secondary in Greeks' decision hence more than 60% of the population did not want the agreement! I have to admit that when money started to flow this percentage decreased significantly! I assume that for an industrialised country the terms were in reverse!
karma of colonization
What are the names of the numbered places, is number 6 birmingham?
Never thought child care in the us would be cheaper
1:20 Central Europe ffs, but these are still in Western Europe, Western half of the continent
Wealth inequality, the scourge of the world.
GDP is a poor metric for economic well-being. The manipulation of money produces nothong of intrinsic value. It produces wealth for a few, because the political order is structures to benefit bankers and money managers.
We have more houses in the UK than ever before - FACT.
We do not have a housing shortage; we have an Immigration Surplus! Fact.
If the 10 million immigrants that came into the UK over the last 30 years approximately were deported, then we would have a housing surplus on a massive scale & real estate prices would fall back to historic norms.
The housing shortage is political & media propaganda & used to mask the true sources of the problems.
In case this is censored or deleted; I have yet again saved this into my own Word document, together with the rest of the boobTube censored comments.
It's like asking why is China the richest and poorest in asia
Calling Poland a developing country is insane. They might be the best country for young people in Europe. And before any comment of bias Im portuguese. I have no stakes on this.
true, was developing in the 90s... now is a 100% developed economy, with incomes higher than portugal or greece
The distribution of wealth is uneven and the middle class is moving towards poverty, which is also known as "M-shaped". This is a trend around the world.
This trend is caused by the ruling parties in each country.
The easiest way for the ruling party to win the support of voters is to print money, build large-scale public construction, and improve social welfare.
Voters appreciate this immediate benefit, like free wine at a party.
Printing money is the main culprit of M-shape. Printing money "devalues" the salaried class! The salary of the middle class has been relatively depreciated the most.
This is true in Taiwan, and it is true all over the world.
Massive public construction, especially with debt, does little to help economic growth. It just adds to the debt.
Social welfare is more like a collective drug addiction, getting deeper and deeper into it. Once social benefits are withdrawn, it's like a drug withdrawal situation.
What the ruling party should do is innovate in "new industries." Sharing the high wages of innovative industries with the young middle class is the foundation for social progress and stability.
which is the number one poorest in the uk because there’s no cities in north wales
How did you never made a video about switzerland…
That’s something I’ve been wanting to do for a while but I still haven’t found the right story to tell. 🤔
@@HindsightYT maybe about the "Finanzausgleich“. A system where the poorerer regions get supported by the rich regions. Or how there are different taxes and laws in every 26 cantons. Kinda like the US.
this is what happens when u try to exploit cheap labor from pakistan india and africa
All according to Ze Plan
- KlauZZ
All the money made in Scotland goes to London, hence why they are the 1% super wealthy and in Scotland many are poor. Its why we need independence in Scotland.
What makes you think the money wont still go to LOndon once independent
im from Brighton Sussex, me and many many others are SKINT
Hello how are you today good sir🧐
Don't worry. This has nothing to do with importing ridiculous numbers of third world people who instantly get your hard earned entitlements
Britain has always been Treasure Island
Richard with all Thier looting from other countries
Fascinating, scary and very sad.. This is coming from a Brit. Sadly I can't help but believe that this malaise is the result of, generally, arrogant and populist right wing politics in the UK. Brexit is the prime result of this and we are paying heavily for it. There has been an increasing rise in 'short termism' in the country for decades and a decrease of workers rights. I don't support overly powerful trades unions but I also don't support rampant deregulation resulting in the growing wealth of 'the few' and the decreasing wealth of the proletariat ... The UK is absolutely terrible at reaching a pragmatic middle ground that fulfills the needs of most of the population. I can only say we have lost the plot.
Stop posting BS and belittling countries like Poland! This is not the 70s! Poland's percapita, wages, employment, productivity, and many other indicators are far better than UK's. Go figure.
Polands per capita isnt better than the UKs
The UK even without London still has a better gdp per capita and higher wages than Poland
You have to blame Margaret Thatcher.
I love to hear: "they benefit from having English their native language". mwahuahuahuahuahuahuahuahua!!!!!
It's bizarre to compare the economies of London (metropolitan pop15 million) and Anglesey (70k.......recognised as the poorest place in Europe for many, many years).....the contrast has always existed so it seems to be a very sensationalist piece of reporting. The West Wales and the Valleys region of the EU was Category 1 Objective funded from 2000 due to high levels of deprivation...nothing new 25 years on.....
i cant believe you ruined this great video by promoting a scam....so much research goes into your video but then you do this??
it isnt
propaganda in its finest form, its not like as the thumbnail dictates
This video just proved why we need Socialism and why the Socialist prime Ministers from Clement Attlee to Harold Wilson keeped living standards high and wealth inequality low.