'Labour Will Need to Make a Difference in the First 100 Days'
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- Опубликовано: 4 июл 2024
- 'The new government will be looking for things that do not cost the Exchequer a lot of money to do.'
Martin Lewis shares his thoughts about what will happen over the next couple of weeks, and tells Susanna and Ed that the Labour Party will need to make a difference to the country in the first 100 days.
Broadcast on 05/07/24
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All you have said is tax tax tax tax tax. This country is running as efficiently as a car with square wheels traveling up hill.
Interesting that we constantly hear how little money there is yet the tax burden is highest in decades.
Because the elites have all doubled their wealth in 5 years. They have stolen all the money.
Highest tax burden for the workers not the rich of course
@dererik9070 exactly, the tax is coming from the wrong side of the coin.
@@ZG0002and watch them leave, then what?
@Nozarash1 They can't take the real wealth with them. The wealth is in the assets they own, if they want to leave they will need to sell to someone else with the wealth who is willing to pay the correct tax. Stop being scared of the super rich, we were all crazy enough to leave the biggest single market on our doorstep, this isn't that crazy.
Temper your expectations, this mess didn't happen overnight.
The "mess" might not be repairable at all, because the world is changing (politically, socially, technologically) and there may simply be no solution for people's demands, from any party.
Already making excuses eh? I thought labour were the answer to all our problems?
@@1aatlas I think you missed the point.. it is exactly that I don't believe they are the answer.
Yes it happened over ten years with u tweets
The leftwing extremists have a massive majority! They can make a huge difference in the first week! Lol prepping the country for disappointment already 😂 regretting your vote so soon hey.
I don’t understand that renters pay rent which is equivalent to a mortgage payment and yet can’t buy their homes, half of a persons wage goes to rent. Banks need to do something to stop this.
Banks are lending the money to those who have bought the houses who are now renting them. The banks are winning already.
because people cannot save for down payment
@@rafaelvalerofernande they are in a catch 22situation. Banks can reduce down payments as we say in the uk deposit, but they prefer not to.
A difference in 100 days, and pigs will fly.
Hmm I love bacon specially smoked!!!
Ya need a new brain 🧠
They will make a difference. More austerity🤣
@juliegreen640 can't have bacon of a flying pig.
@@juliegreen640 you can't have bacon of the flying pigs.
Car price are joke they talk about getting rid of petrol and diesel and get EV yeah if you have 45k to 80k for one t people can't pay for food let alone car what a joke
80% of people didn’t vote for and DONT want these jokers
*66%
18% of adults.
Ridiculous to say they can’t spend we have to spend, biggest problem with this country is it’s frugal attitude it heavily impacts all of us because it’s a negative stance. But we need to spend on things that are gonna make or save the country money. Get the prisoners making things for society, encourage a better life for people that work and innovate, protect your country’s heritage and culture these are the very basic things we forever get wrong
I do find it interesting that the UK has a harsh mortgage system. Here in America, we have "fixed" mortgages. This means your interest rate remains the same, when you sign the contract, for the life of the contract. My interest rate is 2.375%, even though mortgage interest rates are over 7% (currently). My mortgage interest rate remains the same whether it drops lower than 2.375 or higher than 2.375. Having an unsecured interest rate must be a huge worry for homeowners.
We do have fixed rate mortgages but they tend to be for say 5 years or so.
we have fixed too. but they come to and end then ramp up unless you can change, many cannot now because of how broke a lot of people are now.
It's a mess mate but america has troubles aswell. Worlds a mess
Most people have grown up as 'adults' with historically low interest rates at near zero percent for over ten years. Inevitably this has led to nearly everyone overextending themselves on credit, naively thinking that this situation was going to continue.
Well shorter term fixes are great when rates are going down as you can cut your monthly payments. They're not so fun when rates are going up, though...
They can put things in motion within 100 days, but it will take longer than this for our people to feel the benefits. Politicians have never been geniuses!
Lies
How do you get on with your home finances?? Do you get them right every month? Well imagine these people haveing a countries finances to put in order!! If they paid you.. Could you do it?? I'm pretty good at house management but I would not like this job not for any amount of money especially when people are criticising before they have even started...sit tight if they get it wrong then shout but for goodness sake we are in a mess they were voted in ....we had to accept Brexit so now you have to accept Labour!! So sit back and wait!!!
yes and the tories did a good job give labour a chance after what the tories did to the country do you forget what truss did to the country
We're not moving to electric cars 😂
UK not a great place to live anymore. Crappier version of America.
Yep. Sad but true.
It's been like this for years, deccades in fact.
Exactly, tbh I think all the people that can see this should just leave because it’s just not safe anymore
Go live in places like Ukraine, Afghanistan etc you will soon change you're mind, no place is Disney land so don't be delusional.
@@Zockorocko So your defence of your country is that it's better than a war zone? Wow... Some serious pride right there lol. Why not try comparing the UK to a real country?
Is this the same Ed Davy who flew a private jet to Cornwall .😂
And didn’t give a shyte about Royal Mail workers being jailed
The easiest way to bring down the cost of living is to cap what fuel stations can charge! How can it be allowed that some places are charging around 30p per litre more
High fuel means expensive items on everything we buy
Please help. Wasn't Birmingham a Labour council ?
A sinking ship is still wet with a new captain.
Sinks faster if we keep adding more people into the dinghy. Uk can't afford a ship we only have used dinghies. There is a strong market for them in France we could sell the back and call it liebours recycling initiative
Empty the prisons and allow everyone in, then we will need the 1.5 million homes, and the boats will continue to come more than ever to take up the space in the hotels again.
Just mental policies.
How about if they can't prove who they are and don't have a passport then they goto Ruanda, because they are a security risk
If they were not why wouldn't they fly here for thousands less and apply for asylum in airport immigration.
Over 95percent who came across the channel gave no passport, yet I'm sure they had one to get into Europe! They are a threat!
Get a refund from France, Rwanda and tbe foreign aid budget and stop illegal economic migrants, for a start.
WITH INTEREST !!!
In a year maybe 18 months we will be saying how did we get into this mess ,,,😮
It'll be much quicker than that !
Not sure where youve been living but its already a mess.
Been a mess for 14 years!!!!!!.
@@NewGuardz EXACTLY a goverment known for scraping at every penny has put the country in debt and yet you think a goverment known for saying spend spend spend wont make it worse?
Ridiculous how can any Government not cost the Chancellor's department a money problem regardless whether you are Labour or Conservative
Each time you create a credit, you simultaneously create a debt, cancelling each other out.
In absolute terms, money doesn't exist.
Labour tax tax there way out council tax will be the first petrol and pensions next Mr flip flop will blame everybody else for his failure
In my area, and I am sure in many others, the council tax has risen every year by the maximum 4.99% allowed without triggering an audit since the freeze ended in 2017
I mean technically it will be everyone else's fault for two reasons. 1) we will have run out of money for them to tax us more and 2) the country voted and put this shambles in
You have to dig the country out of the dept the stealing Toris put us in during lockdown.
Don’t make me laugh 😂✌🏼❤️
It’s social housing that we need, and not to be given to migrants. People have been waiting for years to get a social house and who gets them first well guess who. I see it happing on my estate and it’s just not right for our own people.
Do the muppets at gmb realise how much they are despised
Dry your eyes princess!
@@humphreybradley3060 don't like the truth hey.. so turn to insults.. I sense the liebour force is strong in you.
@@humphreybradley3060 eh
No they're evil ,they don't care
The worst women on tv just in front of Sue Burley
its alright having a new government and hundreds of new mp.but if there is no money in the bank of england whats the point.
The cost of living has always been an issue for years here in the UK 🇬🇧 & I hope they deliver!
They won't
@@Deeejjj64 How do you know? You just have to wait and see here!
The cost of living crisis is a worldwide problem, No UK government can sort out a worldwide crisis. Look at what caused it in the first place.
They have already said they won't raise the personal tax allowance until 2028. You are hoping for deflation, which rarely happens.
Labour (Keir Rodney Starmer) intend to apply a hefty VAT to private schools, this by default includes most special educational needs schools so if you have children like we do who go to a private special needs school because have special needs, then you will be demolished by his tax on it, and will have to remove them and home school them. We have tried this week to call local schools to accept them but they have told us they don’t have the facilities to accept them, so Keir Starmer is totally ignorant of our needs as parents, he thinks he is doing it to the ‘posh’ kids but has no idea he is wrecking special needs kids chances. Crushing.
They've already said special needs schools will be exempt.
@@jules5177 Not all of them. We already got letters in the post from the school clarifying that he will be applying VAT. We are now searching for a solution and devastated but will be home schooling for us probably now as our locals don’t have the facility for our kids.
@@jules5177I think some private schools have special needs provision so are not entirely special needs. So if they tax the whole school, special needs will suffer.
Every bourgeois government says there isn't enough money. We spent £22 billion on a pathetic invasion of Afghanistan, £15 billion and rising on a pathetic war on Ukraine, £ 8 billion on an illegal war in Iraq. But there is no money for you. What you gonna do about it? You could beg outside of Morrisons or ASDA or write to the millionaires and billionaires begging for money
How can a morning news programme have any credibility when the husband of a Labour Home Secretary hosts the show?
Exactly so left wing biased
When do the riots start?
when the benefits stop.
you mean all the pensioners who are unhappy? bring it on.
This isn't France, and the extremist leftwing won so there won't be rights. They save riots for the centerist parties like reform.
When we rejoin the EU we voted to leave !
Yesterday !!!!
Sort out mortgage rates asap
Why would they?
That's job of the Bank of England, not the govt.
have you been living in a pub? 🤣
@@grimdicer152 because it will help the economy, instead of the banks.
Lowering interest rates is up to the Bank of England and basically would increase inflation if done too quickly so not as simple as that
They wont raise taxes straight away but they will do it.
No income tax, vat or NI increase but council tax will go sky high to plug the black holes, pay per drive will hit motorists extremely hard, capital gains and investment income to be on par with income tax, pensions will be hit one way or the other. Wealth tax could be on the horizon and that's not just income but what you own in totality. 😢
They will go for several months, and then they will say they have no choice but to raise taxes to improve services across the county because of damage caused by the Tories.
@@williammore558 why shouldnt capital gains be at same level as people who actually work? cry more grandpa
They absolutely have to slash taxes to encourage growth.
I bet they do. Emergency budget. That is tax. So raise tax on boaties and labour voters ❤
Can they not rise personal tax allowance
Should have voted reform for that
@@user-wj7cv9hb5j They only wanted to give it to health care workers. Even then they wouldn't have done it.
@CandyKoRn what do you have against healthcare workers? Soon everyone will have to pay more tax starting lower and squeezing more. Hopefully someone in 2028 / 2029 will come back and say ita OK labour imploded faster than expected.
People voted for a change,,or at least 20% did.
Please note no electric vehicles where used in the making of this video 😂
The housing market is about to absolutely tank.. good luck trying to rent a house in a few months time there won't be any at all 😂👍🏻
Why would the housing market tank? The markets are steady at the moment.
@@chrysalis4126
keep watching your about to find out what negative equity really is, , once the Rent bill comes in.. it's like a deck of cards on a scale never scene.
good then people would actually be able to afford to buy a home?
@@QueenJneeuQ how? If everyone selling is in negative equity 😂🤦🏻♀️
It might work out for first time buyers, the only problem is if everyone is in the negative then people won't be putting property on market. I'd imagine the market would be in a sort of stall / stand still if there's nothing to buy. I'm no expert far from it its just my wild guess what might happen
Good luck with that
HSBC almost doubled its annual profits last year to $31.4 billion (£26.9 billion) and was the top dividend-payer among UK banks, distributing £8.4 billion to investors.
Lloyds Banking Group reported significant profits - their annual profits were bolstered by the Bank of England’s rate hikes which crippled many home owners.
Barclays, NatWest, and Standard Chartered - along with HSBC and Lloyds, collectively posted pre-tax profits of around £37.4 billion, surpassing pre-financial crisis highs.
The banks conveniently forgot to also increase the rates on savings accounts. How apt!
Shell achieved record profits, driven by high energy prices and increased demand for fossil fuels in the aftermath of the pandemic and amid geopolitical tensions.
Similar to Shell, BP’s profits surged due to elevated oil and gas prices.
Most struggled to pay their heating bill during winter.
There is one majority who have become obviously poorer and a minority who have become evidently richer.
I am no economist, but I know where I’d like this new government to start trying to recover money to boost the economy first!
Labour would undoubtedly benefit from having Martin as an informal adviser.
Increasing taxes won't cost them anything at all 😂
There will be more austerity very little will change. Universal credit is dreadful to administer. If they paid carerers a decent amount to enable care in peoples own home that would be a start. Banned toxic high processed food substances. Raised price of alcohol and practice preventative medicine. It would have an effect on the health bill.
"they paid carers"... Who are they?
Also, what stops you from paying your carer more? You can give her more money, there's no law against that! :)
Tax people with wealth over 10million pounds. If they’re that rich it’s likely it won’t make any difference to them.
Five day's into office and his first thought is am going to the USA, f&*k the UK. I need to be on the world stage. Look at me.
please talk about the cost of importing thousands of people.Whether you support mass immigration or not the cost to everyone is massive
The thing that’s not being talked about, is how expensive and inefficient the civil service is. That needs reform and you could do a lot more with less.
Please no more tax!! It’s hard enough as it is. Learn to spend what you have efficiently
Just look at the number of billionaires in this country, how much money they earn in interest, how little tax a lot of them pay. Top 1% own 70% of UKs wealth. Sick of the struggling majority being targeted
How about them stopping all bribes/free gifts to MPs
In a moral system there is no place for such things. Next best thing would be to have to declare all gifts and pay income tax or capital gains accordingly but I would prefer the former.
I'm sick to the stomach today 😡😡
I'm with you this is unbelievable this country stinks
Oh dear, need a hug princess?!🙄
Go see a doctor! No wait we don't have any they are still in France but they will catch a dinghy over soon now they have the kier passport
I'd have been even sicker if the Conservatives were still in!!
@@joanneholmes1603 🎻
They have to cut migration and raise personal allowances asap.
Whats the incentive to get an electric car if they are going to tax me the same to drive it.
Anyway Congratulations to a new government and have to be very careful for the country and your people God bless you all!!!!!❤❤❤❤❤❤😅😅😅😊😊😊😊😊
TAX TAX TAX that's all I'm hearing. Do we really need all those MPs nearly on 100k. Don't get me started on the House of Lords !
NO Fault evictions have zero impact on affordability. One of the main reasons why new house prices are rocketing is because there is a severe lack of builders and the cost of construction materials is ever increasing. Martin should have addressed these two before saying Labour will build more houses.
That plays a part, but there is also just simply greed. The contractors building and selling the houses are the real problem, along with the big landlords.
🙌🏾
And importing millions of people doesn’t exactjy help does it
@@user-wm1zg1dh8f absolutely not, it's a symptom of the town and country planning act 1947 that makes it unfeasible for private developers to build houses...
Nothing to do with having too many people here that shouldn't be here, no...
And a garden tax on home owners added onto council tax I do believe
We need a new system because this one is broken beyond repair
Wonder if we get the millions back once he scraps Rwanda flights...i don't think so
It should be funnelled into more staff to process the migrants and get their numbers down instead of keeping them in hotels for years on end.
@@chrysalis4126 like when labour were in last time? tories stopped it to annoy the right wingers and create scapegoats
@@chrysalis4126 well that would be the right thing to do can't see it though,,
Indeed. Brace yourselves, everyone. The worst is yet to come.
Stagnet wages for most people which you can't live on. No wonder there are loads of vacant jobs. They are not enough to pay bills or rent.
THATS CALLED A CRASH AND A MASSIVE. RECESSION****
What I expect to happen within 100 days is the work shy will get more benefits and those of us that work hard will be taxed to pay for it. I really hope I’m wrong but history has a habit of repeating itself unfortunately.
I hope you are wrong also because you just repeat the same Tory culture war vile, negative, toxic rhetoric. Stop punching down!
Will they sort out past injustices post office Waspi Grenfel Etc
Meh waspi.. I won't get a pension at all they are complaining for a few extra years work!! Disgusting.
Martin Lewis is a very wealthy man after selling his business. I'm sure he can pay a healthy wealth tax.😂
Don't count on it.
the difference being he wouldnt mind. unlike right wingers
He will have it all squirrelled away in trusts that’s what an expensive accountant can do for the wealthy
And he deserves it as he's worked hard and earned it, What do you do for the people of the UK, also that's his business and non of yours
How on earth do you expect any government to make a difference in 100 days after 14 years of the tories destroying the economy. Ludicrous expectations..
Quite right,,expect at least 14 years for Labour also.
They need to close all the tax loopholes as soon as possible to help increase their income. Why are shell companies even legal when they are basically just for hiding wealth and money laundering?
They need to slash taxes and fast to encourage economic growth.
Well said. Reform was pro business. Remove ir35 and lower business tax. Get the country working again.
Like Liz Truss did when the economy tanked over night, gooood plan.
This is why Reform and Tory should never be in charge of the economy
When Labour look at the accounts then they should soon realise that the Conservatives have not left any money for them to waste.
They looked like puppets
I’d tax the 💩💩💩💩out of anyone with more than 2 homes.I will never own more than 1.and the majority will have none!!
Watch the rich leave....we are doomed.
I fired my staff yesterday and started closing my businesses and had my properties valued. I personally paid 100k tax and my business another 100. No more, it isn't worth the work I do the long days q6 hours 7 days a week no holidays stress of trying to keep work and provide for others. I'm leaving, either retiring in South America or going to America and start again. UK tax is ridiculous.
Need to change 14 years of destruction.
There's still a stack load of non UK made luxury goods that could be taxed more heavily.
Raise taxes will happen despite what they've said. Stammer retracts statements.
Rachel reeves already said she would before the day was out! 1 month till a budget and ta. Rises.
That financial black hole was the same as the one when Labour last left office and the Tory party took over .
Itll take more than 100 days to make things better again. 5 years to fix this mess is not enough.
😂 making up excuses already!!! Only been 1 day! Fml hilarious
@@user-wj7cv9hb5j You dont fix a 14 year mess in such a small time. It's a fact not an excuse.
@@user-wj7cv9hb5jAh perhaps they should have put you in and we would have given you 5 years easy to say not so easy in practice!! Dont think you realise how much has to be done it's far more than just money!!!😊 10:25
@juliegreen640 I agree. Tbh I thought about standing but I couldn't live on an mps wage and I'm not corrupt enough to be one as well. Well, there are a few policies they should start with. Tax business which turn over 3m an extra 1 % of turnover to trade in the uk. Banks can track the sales for international businesses to trade here. Raise income tax threshold for working people to 25k to help the people who work bring home more money. Reduce tax on small high street businesses who have shops and ensure allllll businesses only take card. Instant 10% fine for anyone caught taking cash. 1% goes to anyone reporting it if proven. Any takeaway drivers etc have to be on the books and paid minimum wage. Instant 10% of turnover fine again for not doing. 1 month to sort or another fine over and over. Get people working who have no jobs. If they havnt a job after 6 month they have to start building prisons and state facilities. Everyone can do something to help the country if you are getting benefits. Stop migration. Any migrant goes straight to jail for illegally passing the borders from France. They can apply in France or Belarus only. No benefits for anyone coming to the UK for 5 years. Any criminal activity they get double the jail time to a British person. Longer jail terms for all crimes. Start confiscation of assets for reparations to victims at double the rate of injury. Where no assets are they will be done time served in jail at 1/3rd of minimum wage until death or paid. Mandatory death penalty for labour supporters and the old 🇬🇧🇮🇱🇺🇦🇫🇷
@@user-wj7cv9hb5j Wow you have definitely given this some thought...I find it very interesting and although I agree with some of the ideas theres some I dont.....that's the money side, how about the other side sewage, roads, houses, education, welfare but to name a few.... I somehow think if I said NHS your response would be private insurance and privatisation but if that were so not everyone would be able to pay...America is a good example of that look what's happened there?? Think I'd rather put people to use building houses rather than prisons simply because we are in desperate need of houses where as minor cases for prisons would be more appropriate on house building or communial work!! Would save a lot on Council expenditure....theres so much more to be done. It's been a pleasure talking to you and I wish you luck and happiness in your future.....
Susanna sounds like a Disney villain when she laughs
All profit from all US airlines doesn't total half the money spent on Ukraine.
Where does this money come from?
Anyone know what starmers dad did?
Zero mention of migration and the cost to the nation.
It’s not looking good.
Labour won't change anything. Some of Starmers pledges is like a wishlist. Surely only tax rises are the way to fund all this
In fairness the Tories were so useless it should be easy to see instant improvements.👍
UK wasted £450bn on Covid 19.
Saying there is less money then they thought is a garbage excuse, the finances are all visible online.
Renters get a huge amount of money in housing benefit, Councils have the power to take over the running of private rented properties in poor condition, this would be a quick way to get hold of housing from bad landlords. Claw back housing benefit given to landlords for substandard housing.
If only big corps that dont pay ebough tax were made to pay theyre fair ammount eh
who really cares about the first 100 days? its the first 5 years that matter
Labour needs to do something to address the cost of living in the next 100 days. Proceeds to not mention a single thing that fits that criteria. Do you know why? Labour haven't said they would there is nothing planned for any short term releif. No tax cuts, no price fixing, no rent control, nothing. Why is journalism so bad?
Having pension tax relief at the basic rate makes sense. It’s what they do in Australia. It’s still an incentive to save as you are taxed less, just not 40-45% less. Can’t see it raising huge amounts but would be something
Won`t increase borrowing???? So will keep borrowing the same.
4TH July 2024 " Judgement Day " , Labour in Power Forever .
Boats on the way ,
Energy Bills will sky-rocket ,
Money will be cheaper than toilet paper " money printing " ,
inflation will Rise ,
Tax Pensioner , working class and everything.
Proof ?
I have never known a time when Labour has been in Power where the country improved. I have always seen the country deteriorate.
Totally agree, Britain heading south in every way
I agree with you comment.
False promises I think.
Erm what happened to the we will tax those that can afford it ie the Corporations and the Non Doms as was stated by Labour in the PM question times ??? Early days but i feel we have being bent over from the off
They will. More austerity🤣🤣🤣
They might move the Tax Bands. So therefore your Council Tax will go up. They aren’t putting up the Council Tax but automatically pay more. Its a way with wording.
UK has roughly £3 trillion debt.
They have made a great start by jeopardising the jobs of 1000s of North Sea workers;there's a difference for you
I wish Martin was the permanent chancellor.
Not really in the first 100 days. In the next 5 years most likely.
First New Tax Electric Cars in London are now being charged £15 pounds per day Congestion Charge. That will Spread to other Cities in a short space of time.
What difference did the tories make in the first 100 days after the 2010 election. What difference have the tories made in 24 yrs of tory government. They had 14 yrs to make things better, but instead they've made things a whole lot worse since 2010. So being realistic it's going to take a lot longer than 100 days to make any real difference now after 14 yrs of tory austerity policies, 14 yrs of tory destruction of our country
The world will end
Great Britain. Take away the word "Great" what' s Great about living in the United Kingdow. Now. Anyone can face homelessness due to the high cost of living and the government doesn't seem to care. If UK had industry which manufacturer goods, instead of buying it from Abroad, that would grow the economy.