Britain's 'BLOATED' economy plagued by stagnation is a 'tribute act to France without the hits'
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- Опубликовано: 27 апр 2024
- Former Adviser to the Bank of England, Dr Roger Gewolb, responds to a theory that the British economy is moving away from the American model and imitating the French economy instead.
#france #america #britain #economy
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Blair’s started this along with Brown, all the public sector jobs with a nice fat pensions. Then Cameron and Osbourne carried on with it by restricting the public sector pay, but leaving it the same size, or even increasing it with crazy schemes. So less and less people are paying for the country, with just the privileged public sector deserving a pension as a reward for working.
A career criminal who has never worked a day in their life, never paid a penny in tax, will still get a pension. For what?
Illegal immigrants, treated to 4 star hotels and free everything, simply for breaking our laws which are not enforced.
And they wonder why people have stopped working?????
I don't know what world you think you are living in, but it's not the real one. Civil servants get good pensions, but they are paid less than those in business and if you pay no tax and NI you don't get a
pension.
@@user-jc4lb5mm7x That's not true. Joining the civil service where you can organise and agitate for more money is incredibly lucrative. Sadly it means people are no longer doing anything constructive or making a fiscal contribution.
@@user-jc4lb5mm7x That's absolute rubbish, the public sector has outstripped the private sector on wages for over 20 years.
The difference in work ethic between public and private couldn't be further a part. I've been in my local council offices working and they still work from home when the weather is nice but come in when it's cold... The people in charge can't tell them when to come in as they are busy doing the same.
It's madness and it's dragging the whole country down. Pension wise my god they get it good compared to private sector 10% plus pensions contributions for all. Anyway that's not the reason for why we are all going down the swanny, it's extremely poor management and people are scared of upsetting someone these days. You can get sacked for liking the wrong video or a comment in private. The work place now is just a be silent don't rock the boat place.
The only back bone thing I've seen is apparently they are rounding up illegals to deport, just a shame it took 10 years to start.
The illegals are not the problem it's the way our government makes decisions based on populous opinions in the moment. We need equal representation so badly then we might actually get change for the good.
Scrap this min wage rubbish and let market decide people's wages only then will we get back to a fair pay for all. When your paying unproductive workers min wage you average everyone's wages making everyone poor. People have no reason to try harder as what's the point you just end up with 50p more.
Feels kinda pointless as whoever wins they'll just do the same thing... Labour win they just party for 3 years then panic change everything.
France sends us their rocket scientists/ neurosurgeons daily because they feel sorry for us.
Remember he said resembles France
I don't feel French I feel more closer to the USA .I am from the UK
Because are country has been kidnaped
@@rossspenser8314 Well so you should America is a colony.
Are these rocket scientists/neurosurgeons travelling here by rubber boats?😊
We're in a race to the bottom and pulling rapidly ahead!
Uk is not united anymore
Hollowed out by Usury/ international finance
fragmented by out of touch self serving politicians .and third rate governments
Ukganistanafricaindia
Because the 'conservatives' went full socialst
How have they gone full socialist? Explain that
@@carysparkes large state, high taxes, identity politics, open borders etc
@@NPC--666you’re just parroting buzz words you’ve heard as it’s pretty evident you’ve no idea what socialism is 😂
@@New-ye2fl "Economic system based on social ownership of the means of production" ... which means a large state, high taxes, and invariably ends in totalitarianism and oppression. And just like a socialist you go straight to ad homniem as you have no idea how to make an argument. Check out great socialist movements if you want to know where your ideology gets you: Nazi Germany, Soviet Union, Kymer Rouge, North Korea, CCP etc.
@@New-ye2fl "Economic system based on social ownership of the means of production" - which means, like any collective, centralised control (large state) and high taxes. I suspect you don't really understand socialism yourself. Try reading some history: nazi Germany, Stalin, Mao, the kymer rouge, North Korea, Cuba etc.
Financial incompetence,borrowing Billions then giving it away is idiotic and net zero folly are to blame.
The oligarchs love it. They have captured the nation state and will suck it dry.
And of course we all benefitted from Thatchers use of the North sea bonanza., 4000000 on benefits, hundreds of billions wasted on benefits and the rest given in tax cuts to the people who needed it least, and manufacturing decimated and investment from 1951 to present day abysmal , we were using belt driven technology while the rest of Europe invested in their factories, and took all the UKs trade from them especially in the car and truck sector, Norway instigated a sovereign wealth fund, Thatcher gave the vast profits to the oil companies, and the English kept voting for her because the Tory media told them to.
So ‘net zero’ is to blame for austerity politics led by a conservative govement….. I don’t think I or your NHS phycologists are following. You may be mental.
Abs too intimidated by the Chinese EV moves. on the backdrop of Defiatiomary currency and economy
Oh come on the UK roads are fine one just needs to upgrade to a Tank too breeze over the endless potholes.
All our road tax is in policians off shore banks accounts
Shouldn't we have a British model ?
Sunak imported a million benefit claimants in just one year
But Anglia Labour Party mp got 1.5 k apparently could be still false from a council house 😮😮😮. Vote Tory then
Quit spending money on gimmegrants.
This is a great interview.
Thank you
Has anyone been to the US? It’s a shithole once you see the past the postcards pictures
Like the UK with thousands of people sleeping rough and millions more taking the piss by living off the taxes of others. Then we have a bloated public sector that get paid to do almost nothing.
@@graemebarriball303 we’d be much more like the US if we didn’t have a benefits system and we don’t want that.
@@graemebarriball303if we didn’t have a benefit system all those sick and mentally ill lot would be on the street. Rn after we sort the nhs queues and fix them they’ll go back to work. If there no benefit system they’ll be homeless for life .
Short term thinking for Americans. NOT THE BRITS. Leave my country.
@@New-ye2fl we have too many people skiving work to live on benefits. They just claim anxiety and then they have it all laid on a plate for them.
Yes the benefits system needs massive reform, providing a safety net not a way of life that is beyond those that work hard on the minimum wage.
@@graemebarriball303 why you working hard at a min wage job mate? 😂
Good discussion. More of this please
We are ruled by oligarchs. The Private sector has captured the public sector. Its big government in the interests of big biz.
👏👏
So, what have we learned from the interview.Those that think they have the Devine right to rule,the career politicians with now real world experience apart from public school,oxbridge and political jobs apart from
Lining their own pockets have screwed everyone over…how can anyone keep voting for the mainstream parties is totally beyond me!We need wholesale political reform or it’s going to be more of the same they get richer while the rest of us suffer
It’s deliberate: that’s why they dumped Truss.
The markets dumped Truss!!
@@bryangeake5826the free market dumped the free market fanatic. 😂😂😂
Maybe it is true that the free market wants French style mixed economy not a UK leaner mixed economy
@@Toodyslexicforyou The Tories on the hard right think that the only way to get 'growth' is to totally de-restrict the markets and take away costs, as in taxation, then there will be simple growth! Like watering the law!! The reality is that simply leaving the market to itself would not lead to rational economic activity, but they still will not understand that; hence Truss blames the the 'wokest deep state'!!
The banks dumped Truss
@@piggypiggypig1746 I.e the free market.
Roger Gewold talks so much sense without political persuasion ,especially his comment on PPE career politicians without any real work experience. The UK is in such a mess yet when you go to France the roads are all in good condition, great health service which I had to use in an emergency, you see plenty of police, much less anti social behaviour ,the difference is night and day yet we constantly say Europe is in 'worse' shape than the UK which is your usual Tory lies and propaganda.
Thank you very much, but Farage gets the credit for PPE and career politicians
Clearly you've never been to Lille.
@@PGHEngineer Lived in France for 3 years …I’ve seen enough of it for my comparison.
@idonthavealoginname not been to Paris, though have you? Taking the train from Gare du Nord to CdeG airport.
60,000 civil servants to manage 70,00 infantry in the army sums up the UK. Everyone wants to be in the managerial class (MOD ) nobody wants to join the infantry (workers ).
That's because of the salary !!!! They can't afford a house on normal wages.
The Tories have done absolutely nothing about any of this. The Tories have no point or purpose and need to be replaced.
You can thank the socialist Tory party for that😂
They are Neo Liberal American Bootlickers like the rest of the crumbling West. They serve the Rules Based International Order.
Spot on!
World bank n imf 😮forcast 10 years of stagnation all growth will be in the east , in the last 28 years the uk as shown a surplus only once in 2007 😮 so if you took away government borrowing to prop up the economy we would have been in a recession for the last 14 years 🙄
But big biz loves big government when it's working for them.
We live under a international oligarchy.
@@evolassunglasses4673 or maybe big govement provides healthcare universaly so therefore more workers (labour) for companies to hire. Reason why we have such high immigration yet such low unemployment. We need low skill labour the economy craves it!
Also if this was an international oligarchy wouldn’t America go big Goverment? Or Russia or anyone outside of Westwrn Europe with our European social model. Or maybe your a conspiracy theorist
It's paradoxical when Labour talk of the conservatives messing up the economy. Firstly, much of the covid spending was cheer-led by Labour, and secondly does Labour complaining that the Tories messed up the economy mean they think they weren't conservative enough during their time in office?
I'm so bored with the U S A
But what can I do?
VOTE VOTE VOTE
Go there
A big problem in the UK is that the government does not protect British companies at all. All other countries including the US do some level of protectionism. In the UK neither the poeple nor the government give a damn about British production and assets. For example, nuclear industry is a protected industry in any country that has it. The exception is the UK, now dependent on a French public company to build its nuclear power plants.
Send the elevinmillllon home.
Job jobbed.
2/3 rds of the benefits bill goes on State Pensions !!!!
THANK YOU MICHAEL
Anyone visiting France should spend two nights in St Gilles to see what France has become.
France is huge , you cant judge it by a few places .
What’s wrong with St Gilles ?
Welfare state arms race
Buying the votes of the weak and the stupid with other people's money, and creating moral hazard on the process which encourages only more of the same.
Brexit 🤐 sorry.
What truth. What a disaster!
Be more like America. WTF. If you like it so much go live there. And good luck.😂
High tax societies dont grow in the long-term, as there is no motivation to work, to succeed and to innovate. Not a single tech company in UK which fuels the world, not a single car manufacturer in the UK which drives the world, not a single steel company which makes tonnes of heavy duty steel etc. India overtook UK in 2023, if Russia grows at the current rate it will overtake UK by 2027-28. Stop laughing muppet.
@@senanur1983 You are right, and the guy above is a muppet. This is not about - 'ooooh dig at the USA we are better than them', this is serious stuff
@@senanur1983Denmark, Finland, Sweden etc would disagree with you
Interesting MP, But also Tricky.
When I Look at London and Paris from Afar.
I See the Obvious Heritage.
But I am Not Impressed with the Built Environment and Transport Interfaces or the Limited Natural World or the Endeavour Options for People.
So from Afar, More to do for France and Britain.
We need a government not flooded with Etonians and that invests in its people and economy
Surely, it's been bad since IR35 regulations.
France has always been better. 🎉🇫🇷
It's going Arabic faster
@@evolassunglasses4673is that literally all you care about, pathetic
Better than what? Have you been there recently?
When I visited Lille a few months ago, I definitely felt that the sight if armed police patrolling the streets because of the violent immigrants gave it a certain "WW2 occupation" vibe. So of you are nostalgic for such things I can recommend it.
❤
How’s Brexit going? Anyone feeling better off yet? Anyone?
Well, at least we have control of our border! 🤣
How's Germany doing? The powerhouse of the EU now importing coal from South Africa and a decimated export market. How's the rest of the EU doing? Oh, they're down the toilet too. I guess Brexit is to blame.
you have to factor in the aftermath of the banking collapse, the halving of the north sea oil and gas revenue followed by Brexit then covid ( a massive crisis to overcome) and then rather sickeningly the war in Ukraine. Also an epilogue problem with the interruption of the shipping lanes in the Red Sea. These problems made it very difficult not to borrow significant levels of money for any government. One of the reasons the guardian and the Labour Party sometimes struggled to attack the conservatives these last 14 years is that we've had a sort of SDP like party rather than a more traditional right of centre party. However, some aspects of the state sector have suffered from under investment and there are cumulative deficiencies in the national infra structure although again - the media and opposition at time mis judge the situation we are in. Im not clear on where at any stage since the fall of the brown government where the government could have done something differently that would have avoided the issues we have now. No firm statements from the Lib Dems or the labour commentators.
I personally dont think Americas model is the way to go neither specially there health care system. Ours is broken granded but years and years of cuts to public services will do that
Where are all or most of the fortune 500 companies & upcoming startups? Its not in UK or Europe - duh! Healthcare? No one is denied healthcare in US - its the payment after that is screwed up if there is no insurance but even then you get treated -
This is because Cameron and the rest went Blairite (Including you Michael - and the soft ride you gave to Gordon Brown when you were Shadow Chancellor). Remember Theresa May saying she no longer wanted to be in the "nasty party"? Set the tone for the mild, Euro-style social democratic nonsense we have seen from the Tories ever since.
UK economic growth in 2024: 0.3% Russias economic growth in 2024: 5%
Smaller economies grow quicker
@@carysparkes
One would think sanctions would slow down a country's economy. Russia being the exemption to the rule.
It's phantom growth. Spunking your country's financial reserves on fighting an unwinnable war isn't a sensible economic plan.
@@trytellingthetruth.2068UK has sanctioned itself with Brexit. There you can see the result
@@trytellingthetruth.2068 The growth is just because Russia's government is paying millions and millions to factories to produce weapons in factories, that's how it's gotten growth it's rather artificial.
All the new s channels just seem to be talk talk talk with no real news .
They don't put the news on RUclips. Just discussions.
Gewold, like Liam Halligan, is an absolute star on economic commentary.
Thank you.
@@rogergewolb Why do you not address wealth inequality that is hindering growth where it matters? The UK government is paying debt service to banks/ financial sector rather than investing in public services. That's why our public services are worse than France’s. Protectionist policies which address wealth inequality is the only way forward.
WHERE. ARE. OUR. MONARCHY
Riding. Unicorns. Playing. Polo.
France invests in it's people - we never have .
Brexit will destroy pubs
Ooooops, somebody’s let you out, lol.
Cheap supermarket alcohol,ridiculous business rates,taxes,the smoking ban and turning a lot of pubs into creches where families can take their children has destroyed most pubs.Brexit destroying pubs is the ranting and raving of 'remainer' lunatics who've never run a bath properly,let alone a small business.
FFS none of this has anything to do with brexit, actually it would be far worse if not for the limited brexit we did have
Brexit is just moving power from the EU Superstate to Westminster. You still have to VOTE in a positive government.
Germany is being destroyed as we speak.
These issues are far deeper than Brexit.
@@voice.of.reasonname a benefit of brexit
44% spend of GDP compared to Frances 58% and the US' 36% !!!! Not very close to France at all is it and this guy was a BOE adviser?
You don’t think going from 39 to 44% so quickly as a bad thing? Good thing you are not advising anyone.
@@rogergewolb :) The UK went from 39% to 50% because of Covid and Energy related support and now the trend is actually downward rather than what you suggest.
............seems like a nice boy.
Brexit benefit....a mess
Cry harder.
How's your spring offensive?
@@richardgallagher4880cope
Brexit is just moving power from the EU Superstate to Westminster. You still have to VOTE in a positive government.
All of the West is in decline because of decades of open borders Globalisation.
@@richardgallagher4880you still haven't explained what "Rekraine" is
@carysparkes
It's better a make you pretending you don't know so the world can laugh at you😂😂
This interviewee is suggesting is he that Farrago is competent to be PM? Omg. He has also not made a single concrete point, just vague generalisations and Portillo too clueless to ash him what he means. Want to know why Blighty has gone down the tube? Look no further.
Going down tube? Because I’m running it? You make no sense at all. Waste of space.
GB News is news in the same way that cow pies are pies. 😂
How does one get to know that? Do you have to eat one?
Brexit will destroy hospitality
Nonsense, we used to just increase pay and conditions to get people to do these jobs.
Now it's a race to the bottom in the interests of Capitalists. Wake up
Still got your spanish passport give me back my EU passport
WHAT FUCKING PANDEMIC!!!!!