I’ve work in a main Post Office in a town centre for the last 5 years and not only is the town quieter, we have been fairly steady whereas usually at this time of year we have queues you never see the end of. Turns out if the rich have all the money, everyone else stops spending the money they don’t have. Shocker!
Your town must have been different to every other UK town for the last five years. News outlets have been reporting on empty units and dying town centres for years. Are you sure you weren't dreaming?
In 2023, the richest 50 families in the UK held more wealth than half of the UK population, comprising 33.5 million people. The UK has very high inequality of income compared to other developed countries; the 9th most unequal incomes of 38 OECD countries (OECD, 2022).
the billionaire owned media, tell them (via propaganda IE something they dont see) how to vote ...at elections (of all kinds) and referendums. IE inequality will only get worse, as a result. The people unknowingly vote against themselves
And socialists keep banging on about this out of sheer envy. Yet Labour go seeking more wealth from individuals overseas to bring into the country. Unlike socialists I have no envy for those that have more than me.
It not heading for recession - its IN freefall collapse. The ONLY way out of this, and I am not joking, is to get China to run literally everything. Just subcontract the running of the UK to China. Or its 50 years of continual decline
@heinkle1 Try looking Up Keynsianism. If we spend money now It Will generate more in the future. I.e if we build more council housing, that Will generate economic activity It Will Also mean that people Will be spending more money on goods than rent. It's far better for the economy if someone spends money on food or a New Vaccuum cleaner than on rent.
@@heinkle1it's called Government bonds which are paid back from the profit on the rental income the property generates, exactly how all the original council houses were built an paid for.
Growth is a dangerous distraction from the function of government. Government should exist to try ensure everyone has the means to survive. Not to be held hostage by the free market and those that would horde all the resources untill those under them are essentially enslaved. The media needs to stop putting so much emphasis on growth and focus on ensuring everyone has adequate food, water, shelter, healthcare, clothing sanitation and transport. And take measures to sure up access to that for future generations to the best of everyones abilities. Especially now in a world where global warming is inevitable due to greedy capitalists and apathetic governments that only have foresight till the next election. I wanted to be jubilant when Labour won. I found I was only relieved that it will at least stay only as awful as it is instead of steadily declining like it does with the Tories. They have to do better than this.
Good luck with that. You won't get anything good from the present make up of the "Labour Party". There isn't a socialist among them. They should be done under the trade description act.
Running a deficit and needing growth go hand in hand. To borrow more and more, you need a rising GDP (it is the ratio the bond market watches assiduously). Running a balanced budget is NOT popular, and ensures failure at the ballot box. All else is detail.
So I take it from you that any form of private enterprise is greedy Capitalism so you are a Communist. If you read your history you will learn that Communism is a failed economic model and responsible for the deaths of over 200 million people. Nice! Keep taking the tablets.
You know how they could achieve both growth and better standards for a lot of people...??? Make private landlords illegal...! Give then 10 years to sell up - if they sell to the Govt at a discount they pay less capital gains tax - the Govt could borrow to buy them cos its an asset. It would not show on the national debt. Make rents affordable - a cut to every renter make it a % of your salary as a maximum, say 30%. THAT would put a LOT of money in a LOT of peoples pockets to SPEND and it would give people the security to make plans for the future
@@piccalillipit9211 Sorry- you are wrong. They would not 'show as an asset'- that is not how government finance works. Richard did a video on it. It would just be added to the Nat Debt - and cause borrowing costs to soar. Changing ownership would not, in itself, reduce rents- governments would have to subsidize - another cost, and more borrowing. They already subsidize via housing benefit- but at least that is targeted. Many landlords do not make a profit from renting, it just covers their costs. They make a profit from the capital gain when they eventually sell. Do not sell, no profit. Plus, private landlords manage their properties carefully- governments would do it via large contracts- guaranteed to cost more. Housing associations are better, but still more costly than private arrangements.
I actually don't think Labour did expect the country to have a bounce. Starmer's talk of tough choices and a difficult budget started very early on. That tends not to be a great when it comes to encouraging people to spend in the economy.
Do you mean the way it always happens? I'll make another prediction that might surprise you: it will be cold in the UK in January and February. I bet you didn't see that one coming!
After suffering shopping withdrawal symtoms Xmas & boxing day, they'll be desperate to get out spending again, which should boost the first quarter figures. 🤣
The budget is starting to look like a big mistake. Should have gone after the ultra wealthy and big business with a wealth tax and a one off tax on excess profits made in certain industries of late.
My salary is £60k a year. I dislike waste, carbon emissions etc. it means I have very little to spend my money on and thus I'm just holding onto my money instead of spending it. I bought the cheapest house in the town I live in and paid off the mortgage in 7years. I wonder if there are more people like me spending less on goods and it could be a component to why "growth" has slowed?
definitely. Take a look at the economy wheel. Spending is a big part of it. No spending, no demand, no jobs. All three act like pillars that support each other
Why keep buying rubbish? We need to invest in our infrastructure both personally and nationally. Cut down our goings by saving energy etc. This country has the poorest housing stock in Europe. 500k houses with G EPC rating is laughable.. I've created a property with an A EPC. Giving a return on money invested of nearly 9%.
theres far far more people NOT earning as much as 60k - you do realise thats almost twice the median/average income - If youre struggling I think you can see why peopel earning much less would be struggling too
@@Hitchhiker007 Investing in energy saving is a good idea. I`ve gotten my monthly energy bill down to £26 a month. Last night I had the wood burner heating the house and water. This morning the Sun is out putting extra heat in the hot water tank which will feed the washing machine this morning. The machine machine heater does not turn on and the solar can power it for free.
We'd hear about GDP figures under the Tories 12 months after the fact and it would be whole percentage drops. Now we're getting an hour by hour live analysis
It's not growth we need it;s justice. Reeves has to go - as does Starmer. We have maybe 3 years to achieve meaningful change or Reform will gain ground. The only way to crush reform is to bring in PR [ which is counter-intuitive but far more people didn't vote than voted Reform] and tackle the injustice that the right wing exploits to get support. Thanks Mr Murphy for all you do.
I feel PR is a dangerous game as it'll ensure Reform get a large chunk of votes, they only got 5 last time due to FPTP. Also leads to splintered parties and aided in making 1940's Germany. I feel the Swedish system consisting of FPTP, PR & direct democracy is the way to go.
Agree 100% this country must transition to proper PR to avoid ever greater catastrophe. I'm not sure of your logic though. Far more people didn't vote than voted for any party, including our illustrious new Labour.
I guess taking away the winter fuel payment was even more stupid than it looked at the time. Often that £200 or £300 relieved near Christmas would be spent in the local economy by poorer pensioners.
@@LowPlainsDrifter60 You don't have to spend the WFA on fuel, you can spend it on anything. Come this time of year many used it to supplement their income for buying presents etc.
@@LowPlainsDrifter60 Do not forget that for many spending on energy bills leaves little spare if there was enough in the first place for other things. It was a rushed gross tactical error by Labour which has created a Xmas hit song like no other. Cheering the decision in parliament was also a terrible mistake considering we are constantly being told these are difficult decisions. Seeing that pack of hyenas in parliament laughing at what they claim is a difficult decision causing distress is an unedifying spectacle. The endless contradictions in saying what suits the moment are not fooling the people. Rayner trying to in one sentence saying there is a housing crisis needing rapid building and in the next there is plenty of housing! There is something particularly inept about this administration with none of the people involved showing little sign of intelligence, experience or competence.
She could Resign? I mean she was essentially an administrator in her previous roles. But then, Starmer approved her changes, so. Maybe he should resign to? 😢
Starmer came in with doom and gloom messages, forgetting that the main driver of the economy is people not numbers. Reeves lack of understanding of economics doesn’t help, on a par with Truss/Kwateng.
Shareholders are abandoning the UK. Way more money to be made in US stocks now. Trouble is though that they take $billions of investment capital with them.
Given they take more of your money for working than you do and you look around and see more than 50% of the population is getting more back than they put in you feel a bit aggrieved. The rich contribute more and all the wailing that the rich don’t pay their fair share is hiding the truth that most people don’t pay their fair share. You want vastly expensive government then the whole population need to pay more.
I have heard that the UK wants to do a deal with the EU to try to improve the future for the UK. Usually when negotiating both parties have something the other wants. The negotiation, is the coming to an agreeable compromise in exchange together. As the entire planet sees this situation, the European Union has a market of 450 million healthy, wealthy, educated, ordered, motivated, well protected customers, that occupy a continent with excelent infrastructure, tourist attractions, social welfare arrangements, universal healthcare, natural resources, an intercooperational living, working regime, and advantageouse trading arrangements with all other important countries and groups worldwide to offer. On the other hand, the United Kingdom has a magic bean. So, obviously the European Union will have to buckle under pressure from Lord Frost or that other quarterwit with white hair and no pencil or notepad. What could go wrong?
You left out the only sensible option - change the policies. Cut taxes, cut red tape, support businesses to enable real sustainable growth. But you will never find either of our main two parties doing anything sensible like this.
The only red tape that needs removing is the ones implemented post Brexit. Most are vital consumer and employee protections. As Richard say, wealth income inequality is the only way to solve the issue. It’s the only one that works.
Oh yes this trickle down economics approach has benefited everyone since the 80's instead of completely destroying upward mobility, handing 97.6% of the wealth generated to just 1% of the population... Tax the rich out of existence, instead of having generational wealth and luxury capital, let's try something that will actually work, like much higher taxes on the rich, a withholding tax on all businesses that compete in the UK and various other policies that benefit the UK economy. Add a 50% withholding tax to any offshoring of money to global corporations and make them only pay in the UK, this would raise and estimated £450 billion as withholding tax, if they still take it offshore, and around £80 billion if the companies kept everything onshore. And that is without closing any other loopholes, if the cash is made in the UK economy it should be spent in the UK economy. Also lets add a maximum wage as we have a minimum, if the minimum wage is set at £25k, then the max should be £250k, no-one is actually worth 10 times more than any other person. Businesses do not generate any jobs, money or influence without one thing, a purchaser. This is the capitalist myth in action, the buyer is who generates the wealth not those offering the service.
@@carsncakes1285 taxes are the highest they have been since WW2, the size of government is the largest it has ever been, the welfare state is the largest it has ever been. But do you feel well off? NO. Because none of that benefits the average person, it only hurts us all. Government redistribution benefits the wealthy not the poor. Increasing the minimum wage just causes prices to go up. Making the poor no better off, and the middle class worse off. Now. I am with you for sensible things like closing tax loopholes for the mega rich, and stopping big corporations buying up housing stock to rent out for example. The rich should pay fair taxes to support the country, and corporations should not be allowed to get too powerful. HOWEVER! The only way to genuinely improve conditions for the average person is to grow the GDP per capita. That means the following policies are NECCESSARY! 1. lower business taxes (which makes business more profitable, thereby encouraging investment. Which causes productivity increases, and growth of GDP per capita and rising average wages). 2. lower taxes for working people (I like the Lib-Dem and Reform policies of increasing the tax free threshold as people earning below a living wage shouldn't be paying taxes at all in my view, they don't earn enough to live right!). This also boosts the private sector as people will spend more of their money instead of having it stolen by our corrupt government system. Thus contributing to a positive business environment as well as just being the right thing to do by people. 3. lower regulatory costs (which will lower the cost to get things done and thus lower the cost of goods and services, as well as make it faster to get things done which increases attraction of you guessed it, business investment and thus more skilled jobs and higher wages for people), 4. lower energy costs (we have some of the highest costs in the world right now which in a global system means any production business (including farming/food) will always be worse off here than anywhere else!), 5. Put an end to low skill, low wage migration. It is driving down the average wage at the same time as costs are rising, and is a huge drain on public services. We can't afford to let in people who do not benefit the country, so we need a strict system that only admits people earning above the average wage, who will be net contributors rather than a drain. NONE of that involves letting the rich off paying taxes or anything stupid like that. It is just good sense policy the country needs.
They wouldn't change to that as it'd show we've been in a recession for a very long time. GDP is made up of figures used to make the country look good.
Absolutely right! That figure is available, though not widely shared... It has been going down for decades. Only mass immigration has kept a trickle going on the total- at the expense of our infrastructure.
Europe has lowered energy consumption 1% per annum since 2008, 23 countries supposed to lose half their populations by 2100 and world pop. 10 % growth of the last 80 years, for the next 80 years. If the world is a business and it had 400% growth in 80 years and 40% the next 80, difficult to manufacture more growth with no new products.
As with the US it's business as usual: tax breaks and non-means tested subsidies for the CEOs who are doing very nicely out of this, including the bankers that instruct successive govts on what should be in the budget (you know, the ones who create financial crashes like in 2008), and free-market discipline for the rest of us. Even friends of mine who were die-hard Keir Starmer supporters now see him as a "toss pot" and their policies as acts of betrayal. And to learn that Reeves is now doing a Rishi Sunak: when he was Chancellor he too told different govt departments to look for savings - makes me bloody angry!
I think those of us on the left saw what was coming in Keir: another 5 years of austerity and mindless blather. He's a red tory, he never had a care for the working class despite all his waffle about his tool maker dad.
During the run up to the election Starmer was repeatedly talking about economic stability, not economic growth. We've got what he promised, economic stability, so he's delivered!!
We are not on our own- Europe is stagnating. Even if growth is achieved it will be so insignificant that it makes no difference. World investors are not interested in the Uk stock market- they can achieve far greater returns elsewhere. The best we can hope for is a gradual decline in living standards.
There's not really much growth in the US either - GDP figures are very misleading because the US has such high inequality that nearly all growth goes to the top 5%. The average person sees very, very little. A lot of people have hope in the US at the moment because they fundamentally misunderstand what the effects of Trump's economic policies will be. Come February, if Trump sticks to his word, the US will be in a deep recession
I read E F Schumacher's book 'Limits to Growth ' 50 years ago. 'Growth' has been a government shiboleth and there needs to be a new, better, paradigm. GDP is a poor measure of citizens life satisfaction.
*BAN PRIVATE LANDLORDS...!!!* Give them 10 years to sell up - if they sell to the Govt at a discount they pay less capital gains tax - the Govt could borrow to buy them cos its an asset. It would not show on the national debt. Make rents affordable - a cut to every renter make it a % of your salary as a maximum, say 30%. THAT would put a LOT of money in a LOT of people's pockets to SPEND and it would give people the security to make plans for the future
The word 'delivery' has never been so abused by politicians - just at the precise time they seem to have no ability to 'deliver' anything. Making spending be dependent on growth is absurd, when you won't pull any of the levers that governments have to boost growth.
The country is too expensive to live in. House prices and rents are too high. Commercial rents are too high so businesses can't survive either. We need a property price correction of at least 50%.
Instead of focusing on growing the economy, labour decided to tax more to fund the public sector in expense of the private sector (NI increase) and the working people including farmers and private sector employees. No growth, less revenue, more taxations to fill another 'blackhole' in the budget, a negative spiral.
So where are the skills of the much self publicised, albeit fraudulently in one case, economist? I'm seeing no technical knowledge being displayed whatsoever.
Starmer and Reeves expected the public to spend more? With what money? Did they expect us all to go outside and pick a couple of handfuls from the money trees that we all have in our gardens.
Constant economic growth is a scam. 50 years of chasing economic growth has seen most of us getting poorer! Maybe we should be looking to create a sustainable economy?
Solution: UK join EU Maximum 3 houses per capita Maximum 100 houses per company Politicians should not be allowed to own private companies Companies should be forced to reinvest % of profit into wages
Farage exists because conservative and Labour are not addressing the political issues , such as mass migration , corruption in govt , water companies a good example
Exactly France and Germany's economies are booming and the Euro has never been stronger. We need EU regulation to get us out of this torystupid brexiteer mess... 🤣🤣🤣 Von de Leyen is a bastion of virtue and competence. I wonder if she has found her Pfi_zer messages yet? 🤔🤭 more government regulation equals growth. More immigration equals strong economic growth and higher wages. Our NHS.
It will get much worse next year when the transition period for services is over and parts of finance move to Europe. New regulations for digital trade is coming aswell.
I hope we can get Germany growth and french stability then perhaps we can get Irish growth in immigration to live on benefits get your wallet out better still take out a loan to bail out the EU as there purse is empty
She is in denial like all unionist parties without our main market of growth. Europe, the UK is a small rock in Northern Europe, and continuing of austerity is our only outlook. God help us
Hasn't actual growth in the UK been flatlining for years already? Most of overall gdp growth was due to population growth,, and a temporary spike in LNG transfer. The economy that keeps 90% of the population afloat by providing jobs has been in decline for a long time already.
@@harrisonbergeron9746 This is a channel for smart people, you know the ones with a proper argument to back up their ideas and opinions. I think you got lost somewhere.
@@st200olhe's right though. GDP can grow while the standard of living decreases, it's been happening on and off in the UK since the 70s. And private rent is extremely exploitative because you can't just not be sheltered and the market has been driving up rents to all time highs.
@ True, that doesn’t make GDP a scam it just means that GDP isn’t directly linked to an individuals bank balance. There is a link however but don’t expect to see your wealth grow simply because the economy is growing well.
Growth has disappeared says Richard. It has for now. The worry for Reeves and Co that if this trend continues, what will she do as she has boxed herself in on who and where they can get extra income from....
They seem to think growth comes from the top down. I bet if you regulated and capped Commercial Rents. Or even squeezed out the big property companies that still monopolise town centres you could sow the seeds of growth from small businesses again. Small businesses are suffering and collapsing like ninepins. They don't care.
There will be no growth until the debt is addressed. The interest payments sucking money out of the economy make growth very difficult. Government dpending needs to fall at least 5% and probably more for any serious growth to return.
It takes longer to build something new and better and very quick to destroy, so patience and support is required. That being said, some quick wins need to come quicker for a very impatient and self-destructive nature of who people are
Keir Starmer in the summer: When we come to power there's gonna be some pain. Things are gonna be tough for all of us. Keir Starmer in the winter: How come there wasn't a big joyful wave of jubilation when we came to power?
This is what happens when you have too many non-productives being financially supported by the state. Harsh but true. We desperately need to create as many unskilled and semi-skilled jobs as possible. This means radical action, such as banning self checkouts in retail, banning (or at least severely curtailing) automated warehousing - that kind of thing. It also means restricting benefits over time to effectively force people into work. We're also clearly at the point where emengency residential rent control is going to be required, al least for a time.
As a farmer I will put putting all investment now on hold. With prospect of crippling taxes why would I spend money to increase the farm value before my son takes the reins. If the country's that broke why send billions of over taxed payers money overseas?
Growth, based on GDP, is fallacy bordering on stupidity. We need renewal, reinvestment and redistribution, backed by a larger state. Grow some cajones, Keir.
Service economy could grow a lot faster if it was not short of skilled labour. There is a surplus of graduates who do not have the applicable skills and a shortage of plumbers,electricians,carpenters,dentists,bricklayers,nurses,mathematicians. Then there is AI. Surely AI if it means anything should increase productivity in the service sector? Replace programmers and improve on them for example.
There was never going to be a bounce. Can you imagine the 'things can only get better' national anthem being enthusiastically played? Labour under Starmer simply does not have the character it had under Wilson or Blair. Or even under Kinnock. The entire world is changing right now and the lack of stability and future plan means the optimism is not there. Reeves is conspicuously useless. Our recent attempts at current/next gen technologies - eg batteries, HS2 - were blown up by the Tories/Brexit. The rich are still getting richer. Rents are still increasing.
I’m a relatively new subscriber but always enjoy your thought provoking videos. I’m always confused with how GDP is measured and how it often gets changed later. I’m under the impression that reselling ( eBay, Vinted etc) is not included in GDP yet I know a couple of people who get a full time income from it. I presume it’s not seen as part of the official economy although I know they pay tax on their income. If you’ve already covered it in a previous piece I’d be happy to have a look at it or maybe one of the commentators could assist.
Do your own research- it is the only way you will understand it. You will find that it is almost laughably constructed. It only lives because it is not understood. Similar is inflation- they system used is madness- and cannot apply to the individual even if it worked. We all have our own DP and inflation, and the secret to understanding it is to use a spreadsheet. It is a small investment in time- once set up, 10 minutes a month will keep it running. I have run one for 30 years, and know my figures bear no relation to the national ones. And mine are accurate- these are real numbers, not guesses or estimates.
probably tax more ,or borrow pushing us further into a banking debt. Although with this lot it honestly wont surprise me if they do bank bail ins and just start taking money.
A little harsh to point the finger at Labour after only 5 months of government, particularly given the state of the UK they inherited but growth has disappeared throughout Europe,we have to admit that the system is Kaput.
It's laughable but with the boomerang sanctions against the convenient enemy what you expect. Ukraine is none our business if you think otherwise you are a victim of their propaganda.
The growth for this quarter is influenced by the last 2 budgets A couple of things both help and hinder Help Public sector pay increases Planned housing, infrastructure and nhs Hinder Reeve's stupid NI hike, a classic Brown budget What matters most isnt gdp but gdp per capita
She WILL DO what any company in the UK does all the time in a similar situation..............SHE WILL increase the costs to cover the losses.............ITS THE SICK UK VERSION OF CAPITALISM/PRIVATISATION. ie,... if train companies see a loss, THEY INCREASE ALL PRICES TO COVER THE LOSSES.
I’ve work in a main Post Office in a town centre for the last 5 years and not only is the town quieter, we have been fairly steady whereas usually at this time of year we have queues you never see the end of. Turns out if the rich have all the money, everyone else stops spending the money they don’t have. Shocker!
Town centres have been dying for decades now.
Yes, people don't realise that shops make most of their money in 3 months of the year. The rest are loss or break even at best.
Your town must have been different to every other UK town for the last five years. News outlets have been reporting on empty units and dying town centres for years. Are you sure you weren't dreaming?
And the price of stamps is ridiculous!
In 2023, the richest 50 families in the UK held more wealth than half of the UK population, comprising 33.5 million people. The UK has very high inequality of income compared to other developed countries; the 9th most unequal incomes of 38 OECD countries (OECD, 2022).
Except the rich have now gone
@@mrgrumpy771 They are the lucky ones...
@@mrgrumpy771 Where have they gone ?
the billionaire owned media, tell them (via propaganda IE something they dont see) how to vote ...at elections (of all kinds) and referendums. IE inequality will only get worse, as a result. The people unknowingly vote against themselves
And socialists keep banging on about this out of sheer envy. Yet Labour go seeking more wealth from individuals overseas to bring into the country. Unlike socialists I have no envy for those that have more than me.
Time and time in the election campaign Labour were asked "what's the plan if there's no growth" and they had no answer.
Black belt Barrister says exactly the same uk economy is heading for recession
It not heading for recession - its IN freefall collapse. The ONLY way out of this, and I am not joking, is to get China to run literally everything. Just subcontract the running of the UK to China. Or its 50 years of continual decline
If you want enthusiasm, first you need to be enthusiastic. The dismalism of the Labour Government has been been disastrous.
The economy was already stagnant before she increased taxes.
The continual chase for growth in a closed system cannot end well.
You invest and improve productivity
@@SlowhandGreg but who has the money? if the proletariat has no money how is going to buy ?
@@Bristolcentaurus Labour are in the process of improving productivity with its NHS review and investment in renewable energy
@@SlowhandGregBeing seen to something, rarely the right thing, never enough.
@@SlowhandGreg LOL as if Labour are going to invest
You would think a person like you should be in a position parliament.
The UK needs a Crash programme of council housing.
Who for? 🚣♂️🚣♂️
And with what money?
Council houses are extremely costly to maintain
@heinkle1 Try looking Up Keynsianism. If we spend money now It Will generate more in the future.
I.e if we build more council housing, that Will generate economic activity It Will Also mean that people Will be spending more money on goods than rent.
It's far better for the economy if someone spends money on food or a New Vaccuum cleaner than on rent.
@@heinkle1it's called Government bonds which are paid back from the profit on the rental income the property generates, exactly how all the original council houses were built an paid for.
Growth is a dangerous distraction from the function of government. Government should exist to try ensure everyone has the means to survive. Not to be held hostage by the free market and those that would horde all the resources untill those under them are essentially enslaved. The media needs to stop putting so much emphasis on growth and focus on ensuring everyone has adequate food, water, shelter, healthcare, clothing sanitation and transport. And take measures to sure up access to that for future generations to the best of everyones abilities. Especially now in a world where global warming is inevitable due to greedy capitalists and apathetic governments that only have foresight till the next election.
I wanted to be jubilant when Labour won. I found I was only relieved that it will at least stay only as awful as it is instead of steadily declining like it does with the Tories. They have to do better than this.
Good luck with that. You won't get anything good from the present make up of the "Labour Party". There isn't a socialist among them. They should be done under the trade description act.
Running a deficit and needing growth go hand in hand. To borrow more and more, you need a rising GDP (it is the ratio the bond market watches assiduously).
Running a balanced budget is NOT popular, and ensures failure at the ballot box.
All else is detail.
So I take it from you that any form of private enterprise is greedy Capitalism so you are a Communist. If you read your history you will learn that Communism is a failed economic model and responsible for the deaths of over 200 million people. Nice! Keep taking the tablets.
You know how they could achieve both growth and better standards for a lot of people...??? Make private landlords illegal...! Give then 10 years to sell up - if they sell to the Govt at a discount they pay less capital gains tax - the Govt could borrow to buy them cos its an asset. It would not show on the national debt. Make rents affordable - a cut to every renter make it a % of your salary as a maximum, say 30%. THAT would put a LOT of money in a LOT of peoples pockets to SPEND and it would give people the security to make plans for the future
@@piccalillipit9211 Sorry- you are wrong. They would not 'show as an asset'- that is not how government finance works. Richard did a video on it. It would just be added to the Nat Debt - and cause borrowing costs to soar. Changing ownership would not, in itself, reduce rents- governments would have to subsidize - another cost, and more borrowing. They already subsidize via housing benefit- but at least that is targeted. Many landlords do not make a profit from renting, it just covers their costs. They make a profit from the capital gain when they eventually sell. Do not sell, no profit. Plus, private landlords manage their properties carefully- governments would do it via large contracts- guaranteed to cost more. Housing associations are better, but still more costly than private arrangements.
Wonderful content these daily briefings keep me sane before facing the media circus of biased nonsense.
Growth has disappeared ! shame Rachel reeves doesn’t do the same.
I actually don't think Labour did expect the country to have a bounce. Starmer's talk of tough choices and a difficult budget started very early on. That tends not to be a great when it comes to encouraging people to spend in the economy.
what bounce can you have with the most expensive energy in the world. You cant even lift your finger without energy, let alone bounces.
Wait till after Christmas the UK will stagnate in the first quarter of 2025.
Do you mean the way it always happens? I'll make another prediction that might surprise you: it will be cold in the UK in January and February. I bet you didn't see that one coming!
After suffering shopping withdrawal symtoms Xmas & boxing day, they'll be desperate to get out spending again, which should boost the first quarter figures. 🤣
Rachel from accounts , the country is doomed to failure.
I hope RR is consigned to political history long before 2029! Tomorrow would not be too soon for me.
"enthusiasm" left the building when starmer purged the labour party of all Labour folks.
The Labour party ended when Momentum took over and the whole shadow cabinet walked away...
The budget is starting to look like a big mistake. Should have gone after the ultra wealthy and big business with a wealth tax and a one off tax on excess profits made in certain industries of late.
And nationalise the utilities. They've done enough.
Is there some way companies headquartered elsewhere could be required to pay corporation tax on business done in the UK.
@@malcolm8564 They already do.
My salary is £60k a year. I dislike waste, carbon emissions etc. it means I have very little to spend my money on and thus I'm just holding onto my money instead of spending it. I bought the cheapest house in the town I live in and paid off the mortgage in 7years. I wonder if there are more people like me spending less on goods and it could be a component to why "growth" has slowed?
definitely. Take a look at the economy wheel. Spending is a big part of it. No spending, no demand, no jobs. All three act like pillars that support each other
Why keep buying rubbish? We need to invest in our infrastructure both personally and nationally. Cut down our goings by saving energy etc. This country has the poorest housing stock in Europe. 500k houses with G EPC rating is laughable.. I've created a property with an A EPC. Giving a return on money invested of nearly 9%.
theres far far more people NOT earning as much as 60k - you do realise thats almost twice the median/average income - If youre struggling I think you can see why peopel earning much less would be struggling too
@@Hitchhiker007 Investing in energy saving is a good idea. I`ve gotten my monthly energy bill down to £26 a month. Last night I had the wood burner heating the house and water. This morning the Sun is out putting extra heat in the hot water tank which will feed the washing machine this morning. The machine machine heater does not turn on and the solar can power it for free.
@@skyblazeeterno I don't think you understand the point I'm making
We'd hear about GDP figures under the Tories 12 months after the fact and it would be whole percentage drops. Now we're getting an hour by hour live analysis
It's not growth we need it;s justice. Reeves has to go - as does Starmer. We have maybe 3 years to achieve meaningful change or Reform will gain ground. The only way to crush reform is to bring in PR [ which is counter-intuitive but far more people didn't vote than voted Reform] and tackle the injustice that the right wing exploits to get support. Thanks Mr Murphy for all you do.
I feel PR is a dangerous game as it'll ensure Reform get a large chunk of votes, they only got 5 last time due to FPTP. Also leads to splintered parties and aided in making 1940's Germany.
I feel the Swedish system consisting of FPTP, PR & direct democracy is the way to go.
Agree 100% this country must transition to proper PR to avoid ever greater catastrophe. I'm not sure of your logic though. Far more people didn't vote than voted for any party, including our illustrious new Labour.
I guess taking away the winter fuel payment was even more stupid than it looked at the time. Often that £200 or £300 relieved near Christmas would be spent in the local economy by poorer pensioners.
Spending on energy bills doesn't help local economies. 🙄
@@LowPlainsDrifter60 You don't have to spend the WFA on fuel, you can spend it on anything. Come this time of year many used it to supplement their income for buying presents etc.
@@LowPlainsDrifter60 Do not forget that for many spending on energy bills leaves little spare if there was enough in the first place for other things. It was a rushed gross tactical error by Labour which has created a Xmas hit song like no other. Cheering the decision in parliament was also a terrible mistake considering we are constantly being told these are difficult decisions. Seeing that pack of hyenas in parliament laughing at what they claim is a difficult decision causing distress is an unedifying spectacle. The endless contradictions in saying what suits the moment are not fooling the people. Rayner trying to in one sentence saying there is a housing crisis needing rapid building and in the next there is plenty of housing! There is something particularly inept about this administration with none of the people involved showing little sign of intelligence, experience or competence.
@@michaeld5888 Yeah but without the WFA, they supposidly can't pay their energy bills & yet with it, they can buy other things. The sums don't add up.
Starmer is thinking of the thousands of pensions he wont have to pay next year...
Britain just needs to export more Morris Minors and Hillman Huskies to countries with no manufacturing. Oh.
She could Resign?
I mean she was essentially an administrator in her previous roles.
But then, Starmer approved her changes, so. Maybe he should resign to? 😢
Starmer came in with doom and gloom messages, forgetting that the main driver of the economy is people not numbers. Reeves lack of understanding of economics doesn’t help, on a par with Truss/Kwateng.
She was a complaints manager in a bank (the easiest job in the world), what else would you expect...
shareholders are still god,so, we're all stuffed.
Shareholders are abandoning the UK. Way more money to be made in US stocks now. Trouble is though that they take $billions of investment capital with them.
So become a shareholder then
@@Razmatazukif everyone could snap their fingers and become a millionaire, the state of the economy wouldn't be such a concern
We're all shareholders if we have any kind of pension savings.
@malcolm8564 yeah but it's not the average pension holder that we're beholden to. It's the ultra rich.
400 construction firms gone skint, This year
“It will have to get worse before it gets better.”
Trouble is, it’ll only get better in about 4.5 years.
Calling for a wealth tax?
The wealthier don't want to pay any more that's what all the moanings about so who will pay 🤔🤔🤔
Given they take more of your money for working than you do and you look around and see more than 50% of the population is getting more back than they put in you feel a bit aggrieved. The rich contribute more and all the wailing that the rich don’t pay their fair share is hiding the truth that most people don’t pay their fair share. You want vastly expensive government then the whole population need to pay more.
@@davideyres955 sounds like a poor excuse not to attempt to tax the rich a bit more
I have heard that the UK wants to do a deal with the EU to try to improve the future for the UK.
Usually when negotiating both parties have something the other wants. The negotiation, is the coming to an agreeable compromise in exchange together. As the entire planet sees this situation, the European Union has a market of 450 million healthy, wealthy, educated, ordered, motivated, well protected customers, that occupy a continent with excelent infrastructure, tourist attractions, social welfare arrangements, universal healthcare, natural resources, an intercooperational living, working regime, and advantageouse trading arrangements with all other important countries and groups worldwide to offer. On the other hand, the United Kingdom has a magic bean.
So, obviously the European Union will have to buckle under pressure from Lord Frost or that other quarterwit with white hair and no pencil or notepad. What could go wrong?
It seems like the labour party paid no attention to the Osborne and Cameron years and will repeat them.
I was/am convinced there'd be no growth. And Reeves would eventually panic.
You left out the only sensible option - change the policies. Cut taxes, cut red tape, support businesses to enable real sustainable growth. But you will never find either of our main two parties doing anything sensible like this.
The only red tape that needs removing is the ones implemented post Brexit. Most are vital consumer and employee protections. As Richard say, wealth income inequality is the only way to solve the issue. It’s the only one that works.
Pay no welfare for new immigrants. That would save tens of billions.
Oh yes this trickle down economics approach has benefited everyone since the 80's instead of completely destroying upward mobility, handing 97.6% of the wealth generated to just 1% of the population...
Tax the rich out of existence, instead of having generational wealth and luxury capital, let's try something that will actually work, like much higher taxes on the rich, a withholding tax on all businesses that compete in the UK and various other policies that benefit the UK economy.
Add a 50% withholding tax to any offshoring of money to global corporations and make them only pay in the UK, this would raise and estimated £450 billion as withholding tax, if they still take it offshore, and around £80 billion if the companies kept everything onshore.
And that is without closing any other loopholes, if the cash is made in the UK economy it should be spent in the UK economy.
Also lets add a maximum wage as we have a minimum, if the minimum wage is set at £25k, then the max should be £250k, no-one is actually worth 10 times more than any other person.
Businesses do not generate any jobs, money or influence without one thing, a purchaser. This is the capitalist myth in action, the buyer is who generates the wealth not those offering the service.
@ can you show your calculations please?
@@carsncakes1285 taxes are the highest they have been since WW2, the size of government is the largest it has ever been, the welfare state is the largest it has ever been. But do you feel well off? NO. Because none of that benefits the average person, it only hurts us all.
Government redistribution benefits the wealthy not the poor.
Increasing the minimum wage just causes prices to go up. Making the poor no better off, and the middle class worse off.
Now. I am with you for sensible things like closing tax loopholes for the mega rich, and stopping big corporations buying up housing stock to rent out for example. The rich should pay fair taxes to support the country, and corporations should not be allowed to get too powerful.
HOWEVER! The only way to genuinely improve conditions for the average person is to grow the GDP per capita. That means the following policies are NECCESSARY!
1. lower business taxes (which makes business more profitable, thereby encouraging investment. Which causes productivity increases, and growth of GDP per capita and rising average wages).
2. lower taxes for working people (I like the Lib-Dem and Reform policies of increasing the tax free threshold as people earning below a living wage shouldn't be paying taxes at all in my view, they don't earn enough to live right!). This also boosts the private sector as people will spend more of their money instead of having it stolen by our corrupt government system. Thus contributing to a positive business environment as well as just being the right thing to do by people.
3. lower regulatory costs (which will lower the cost to get things done and thus lower the cost of goods and services, as well as make it faster to get things done which increases attraction of you guessed it, business investment and thus more skilled jobs and higher wages for people),
4. lower energy costs (we have some of the highest costs in the world right now which in a global system means any production business (including farming/food) will always be worse off here than anywhere else!),
5. Put an end to low skill, low wage migration. It is driving down the average wage at the same time as costs are rising, and is a huge drain on public services. We can't afford to let in people who do not benefit the country, so we need a strict system that only admits people earning above the average wage, who will be net contributors rather than a drain.
NONE of that involves letting the rich off paying taxes or anything stupid like that. It is just good sense policy the country needs.
Should we not focus on GDP per head? I'd be interested in your thoughts on how we are doing on that metric.
They wouldn't change to that as it'd show we've been in a recession for a very long time.
GDP is made up of figures used to make the country look good.
Absolutely right! That figure is available, though not widely shared... It has been going down for decades. Only mass immigration has kept a trickle going on the total- at the expense of our infrastructure.
Could the policies of HM's Gov be deliberate by outcome: to make Labour unelectable and Reform the new Opposition?
Europe has lowered energy consumption 1% per annum since 2008, 23 countries supposed to lose half their populations by 2100 and world pop. 10 % growth of the last 80 years, for the next 80 years.
If the world is a business and it had 400% growth in 80 years and 40% the next 80, difficult to manufacture more growth with no new products.
As with the US it's business as usual: tax breaks and non-means tested subsidies for the CEOs who are doing very nicely out of this, including the bankers that instruct successive govts on what should be in the budget (you know, the ones who create financial crashes like in 2008), and free-market discipline for the rest of us. Even friends of mine who were die-hard Keir Starmer supporters now see him as a "toss pot" and their policies as acts of betrayal. And to learn that Reeves is now doing a Rishi Sunak: when he was Chancellor he too told different govt departments to look for savings - makes me bloody angry!
I think those of us on the left saw what was coming in Keir: another 5 years of austerity and mindless blather. He's a red tory, he never had a care for the working class despite all his waffle about his tool maker dad.
During the run up to the election Starmer was repeatedly talking about economic stability, not economic growth. We've got what he promised, economic stability, so he's delivered!!
We transferred much of our manufacturing overseas under Margaret Thatcher and have never really recovered.
So putting up taxes cutting pensioner spending and loading extra costs on employers didn’t boost growth.
If you expect a turn around in growth in just 5 months, you must surely believe in Father Christmas. 🙄
@@LowPlainsDrifter60 NOTHING they have done yet will EVER produce growth...
The news says that it fell in October due to a lack of activity in the hospitality sector/ pubs etc. With beer costing that much, who'd a' thunk it?
Reeves is a case study in Dunning Kruger effect.
Economic growth in conjunction with a rapidly ageing demographic is increasingly difficult.
Yes but there are also millions of young people not working.
@@malcolm8564And why is that?
We are not on our own- Europe is stagnating. Even if growth is achieved it will be so insignificant that it makes no difference. World investors are not interested in the Uk stock market- they can achieve far greater returns elsewhere. The best we can hope for is a gradual decline in living standards.
The hope and optimism within the USA, compared to the mess we are wallowing around in here. No growth and no hope.
Hope & optimism ? Dude, what echo chamber are you in ? Trump is going destroy America & those with at least two neurones to rub together realise it.
There's not really much growth in the US either - GDP figures are very misleading because the US has such high inequality that nearly all growth goes to the top 5%. The average person sees very, very little.
A lot of people have hope in the US at the moment because they fundamentally misunderstand what the effects of Trump's economic policies will be. Come February, if Trump sticks to his word, the US will be in a deep recession
They took "The Bounce " out when they put up taxes
I read E F Schumacher's book 'Limits to Growth ' 50 years ago. 'Growth' has been a government shiboleth and there needs to be a new, better, paradigm. GDP is a poor measure of citizens life satisfaction.
She will blame the Tories as she has done ad infinitum!
Yes I find it impossible to listen to either of them.
Incoherent policy. Growth predicated on high tax service economy which has shrunk. Merry Christmas Sir. Thank you for your posts on twitter.
*BAN PRIVATE LANDLORDS...!!!* Give them 10 years to sell up - if they sell to the Govt at a discount they pay less capital gains tax - the Govt could borrow to buy them cos its an asset. It would not show on the national debt. Make rents affordable - a cut to every renter make it a % of your salary as a maximum, say 30%. THAT would put a LOT of money in a LOT of people's pockets to SPEND and it would give people the security to make plans for the future
The word 'delivery' has never been so abused by politicians - just at the precise time they seem to have no ability to 'deliver' anything. Making spending be dependent on growth is absurd, when you won't pull any of the levers that governments have to boost growth.
The country is too expensive to live in. House prices and rents are too high. Commercial rents are too high so businesses can't survive either. We need a property price correction of at least 50%.
Instead of focusing on growing the economy, labour decided to tax more to fund the public sector in expense of the private sector (NI increase) and the working people including farmers and private sector employees.
No growth, less revenue, more taxations to fill another 'blackhole' in the budget, a negative spiral.
How ridiculous to say after 4 month in power is labour’s fault while market dynamics and long term politics make the most impact. Shameful!
Also farmers in england have no one to blame but themselves, they chose brexit like blind foolish clowns
So where are the skills of the much self publicised, albeit fraudulently in one case, economist? I'm seeing no technical knowledge being displayed whatsoever.
Starmer and Reeves expected the public to spend more? With what money? Did they expect us all to go outside and pick a couple of handfuls from the money trees that we all have in our gardens.
I didn't hear Starmer and Reeves say that, and I was paying close attention. I did hear them say, many times, that things would be tough for a while.
Constant economic growth is a scam. 50 years of chasing economic growth has seen most of us getting poorer!
Maybe we should be looking to create a sustainable economy?
The wealthy are wealthier so growth hasn't been a scam for them.
@ yep. The only thing growing is the size of yachts.
The have yachts and the have nots.
What a great economic strategy it is.
@timwoodger7896There is no tax on marine fuel. I find that very strange. And none on aircraft fuel either.
Good content
What is she going to do. Blame the Tories" fixing the foundations,14 tears of Tory failure 22 Billion black hole" and prepare her CV
The only growth area they understand is house building - but it seems they don’t understand that either.
Solution:
UK join EU
Maximum 3 houses per capita
Maximum 100 houses per company
Politicians should not be allowed to own private companies
Companies should be forced to reinvest % of profit into wages
And all the time the spectre of Nigel Farrage looms on the horizon.
Never underestimate this country's ability to self harm.
Farage exists because conservative and Labour are not addressing the political issues , such as mass migration , corruption in govt , water companies a good example
Well said. This country has been self harming for decades now.
Gotta learn somehow.
Brexitannia, the future of the nation.
Nigel Fromage
National Front
No Fun
No Funding
No Future
How They Broke Britain -1) Sir War Criminal Bliar. 2) Goebbels Campbell. 3) Mandy Mandelson. 4) Gordon Broon. 5) Call me Dave Cameron. 6) Useless & posh Clegg. 7) Even worse Theresa May. 8) Boris. 9) Globalist & WEF Stooge Sunak. 10) Granny Harmer Sausages Starmer.
Being outside the EU makes growth difficult on its own.
EU projected growth for 2024 is just 0.8% - 0.9 %.
Exactly France and Germany's economies are booming and the Euro has never been stronger. We need EU regulation to get us out of this torystupid brexiteer mess... 🤣🤣🤣 Von de Leyen is a bastion of virtue and competence. I wonder if she has found her Pfi_zer messages yet? 🤔🤭 more government regulation equals growth. More immigration equals strong economic growth and higher wages. Our NHS.
It will get much worse next year when the transition period for services is over and parts of finance move to Europe. New regulations for digital trade is coming aswell.
Being inside the EU isn't exactly helping growth either.
Without the single market and the customs union there will be no growth. And what about a wealth tax even if it would upset Mandleson and Blair.
I hope we can get Germany growth and french stability then perhaps we can get Irish growth in immigration to live on benefits get your wallet out better still take out a loan to bail out the EU as there purse is empty
Wealth tax ? Can't see any government brave enough to change the trickle-up economy.
Join the Tory party and along with Starmer and take all the other right wing crazies with her 🤬🤬🤬
No they didn't. They promised "Tough times ahead".
And that’s it. Tough time for the economically active. That’s the entire labour outcome. Nothing else.
I'm not convinced that infinite growth in a finite world is a sensible policy.
Indeed, growth is only possible by destroying the world.
yet we seem to want infinite population growth
And yet Greta Thunberg is the villain when she said about fairytales of unlimited growth.
@@skyblazeeternoYet there is clearly already too many of us.
She is in denial like all unionist parties without our main market of growth. Europe, the UK is a small rock in Northern Europe, and continuing of austerity is our only outlook. God help us
Im sure she could falsify her CV for her next job saying she increased growth
Hasn't actual growth in the UK been flatlining for years already?
Most of overall gdp growth was due to population growth,, and a temporary spike in LNG transfer.
The economy that keeps 90% of the population afloat by providing jobs has been in decline for a long time already.
Indeed the UK's economy was booming in 2007 but then came the 2008 crash & the GDP has flatlined ever since.
Growth is unsustainable, hence recessions right?
Circular economies are the way forward
They'll do those things anyway. But they'll just borrow until Sterling is utterly destroyed. We'll have US dollar parity pretty soon...
GDP is a scam
house prices are a scam
@puppets.and.muppets and rent is extortion...
@@harrisonbergeron9746 This is a channel for smart people, you know the ones with a proper argument to back up their ideas and opinions. I think you got lost somewhere.
@@st200olhe's right though. GDP can grow while the standard of living decreases, it's been happening on and off in the UK since the 70s. And private rent is extremely exploitative because you can't just not be sheltered and the market has been driving up rents to all time highs.
@ True, that doesn’t make GDP a scam it just means that GDP isn’t directly linked to an individuals bank balance. There is a link however but don’t expect to see your wealth grow simply because the economy is growing well.
Growth has disappeared says Richard. It has for now. The worry for Reeves and Co that if this trend continues, what will she do as she has boxed herself in on who and where they can get extra income from....
You have perfectly summarized the video. Thanks
They seem to think growth comes from the top down. I bet if you regulated and capped Commercial Rents. Or even squeezed out the big property companies that still monopolise town centres you could sow the seeds of growth from small businesses again. Small businesses are suffering and collapsing like ninepins. They don't care.
Whatever she likes. Labour and the 'conservatives', and the sheep who keep voting for them effectively gives a onr party state 😢
There will be no growth until the debt is addressed. The interest payments sucking money out of the economy make growth very difficult. Government dpending needs to fall at least 5% and probably more for any serious growth to return.
almost the entire budget, was wrong
It takes longer to build something new and better and very quick to destroy, so patience and support is required. That being said, some quick wins need to come quicker for a very impatient and self-destructive nature of who people are
everythings been paved over, the CCTV is fully installed..... 'now what' ? 😂
Keir Starmer in the summer: When we come to power there's gonna be some pain. Things are gonna be tough for all of us.
Keir Starmer in the winter: How come there wasn't a big joyful wave of jubilation when we came to power?
She'll double down because she hasn't a clue what she's doing.
Let me guess, you do know what to do to fix years of embezzlement and neglect inside 6 months, right?
@@kieranmchugh172 what embezzlement?
@@skyblazeeterno lol.ok.
Reeves could probably get more from the farmers, she's only hit them 3 ways in 1 budget so far.
There has been no growth in a long time economy can,t grow with so many unemployed this problem is in many countries
I wonder if you may overestimate the power a government has on short term to create circumstances to make the economy grow?
This is what happens when you have too many non-productives being financially supported by the state. Harsh but true.
We desperately need to create as many unskilled and semi-skilled jobs as possible. This means radical action, such as banning self checkouts in retail, banning (or at least severely curtailing) automated warehousing - that kind of thing. It also means restricting benefits over time to effectively force people into work. We're also clearly at the point where emengency residential rent control is going to be required, al least for a time.
As a farmer I will put putting all investment now on hold. With prospect of crippling taxes why would I spend money to increase the farm value before my son takes the reins. If the country's that broke why send billions of over taxed payers money overseas?
a rich farmer then
If you have at least £3 million to hand down to your son, don't expect sympathy from the less fortunate.
@@LowPlainsDrifter60 You probably think the King owns Buck Palace and should pay inheritance tax too...
@@manoo422 Nope, I know who owns Buck House but yes I do believe the royals should pay inheritance tax at the very least.
Cuts!
cuts to what? there is nothing to cut. the torys took everything out.
@ are the services still functioning? Just about. So there’s further cuts to be made
@@crayontom9687 then what do we do when public services are no more? answer me that?
Well, that just leaves Christmas to take away 😕
Growth, based on GDP, is fallacy bordering on stupidity. We need renewal, reinvestment and redistribution, backed by a larger state. Grow some cajones, Keir.
Service economy could grow a lot faster if it was not short of skilled labour. There is a surplus of graduates who do not have the applicable skills and a shortage of plumbers,electricians,carpenters,dentists,bricklayers,nurses,mathematicians. Then there is AI. Surely AI if it means anything should increase productivity in the service sector? Replace programmers and improve on them for example.
? An AI plumber.
@charleswillcock3235 just a plumber. A few more of them. And an ai service sector to spell it out
short of what skilled labour exactly?
@@skyblazeeterno the ones listed
There was never going to be a bounce. Can you imagine the 'things can only get better' national anthem being enthusiastically played? Labour under Starmer simply does not have the character it had under Wilson or Blair. Or even under Kinnock. The entire world is changing right now and the lack of stability and future plan means the optimism is not there. Reeves is conspicuously useless. Our recent attempts at current/next gen technologies - eg batteries, HS2 - were blown up by the Tories/Brexit.
The rich are still getting richer. Rents are still increasing.
More taxes is the plan……and then a ‘reset’.
I’m a relatively new subscriber but always enjoy your thought provoking videos. I’m always confused with how GDP is measured and how it often gets changed later. I’m under the impression that reselling ( eBay, Vinted etc) is not included in GDP yet I know a couple of people who get a full time income from it. I presume it’s not seen as part of the official economy although I know they pay tax on their income. If you’ve already covered it in a previous piece I’d be happy to have a look at it or maybe one of the commentators could assist.
Do your own research- it is the only way you will understand it. You will find that it is almost laughably constructed. It only lives because it is not understood. Similar is inflation- they system used is madness- and cannot apply to the individual even if it worked. We all have our own DP and inflation, and the secret to understanding it is to use a spreadsheet. It is a small investment in time- once set up, 10 minutes a month will keep it running. I have run one for 30 years, and know my figures bear no relation to the national ones. And mine are accurate- these are real numbers, not guesses or estimates.
Surely growth is possible via export of goods and services eg tourism?
probably tax more ,or borrow pushing us further into a banking debt. Although with this lot it honestly wont surprise me if they do bank bail ins and just start taking money.
A little harsh to point the finger at Labour after only 5 months of government, particularly given the state of the UK they inherited but growth has disappeared throughout Europe,we have to admit that the system is Kaput.
Neoliberalism as a concept is kaput, socialism needs to come back.
It's laughable but with the boomerang sanctions against the convenient enemy what you expect. Ukraine is none our business if you think otherwise you are a victim of their propaganda.
Europe adopting socialist policies is what is causing the decline. The USA is becoming more neo liberal and there is massive growth as a result
@@Razmatazuk Well, the USA is going to become more protectionist,( like the EU )under Trump, so their growth is likely to dwindle too.
The growth for this quarter is influenced by the last 2 budgets
A couple of things both help and hinder
Help
Public sector pay increases
Planned housing, infrastructure and nhs
Hinder
Reeve's stupid NI hike, a classic Brown budget
What matters most isnt gdp but gdp per capita
She WILL DO what any company in the UK does all the time in a similar situation..............SHE WILL increase the costs to cover the losses.............ITS THE SICK UK VERSION OF CAPITALISM/PRIVATISATION.
ie,... if train companies see a loss, THEY INCREASE ALL PRICES TO COVER THE LOSSES.