'12 years of economic failure’: Rachel Reeves slams Kwasi Kwarteng's Mini-budget and bankers' bonus
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- Опубликовано: 22 сен 2022
- '12 years of economic failure’: Rachel Reeves slams Kwasi Kwarteng's Mini-budget and bankers' bonus | The Chancellor’s mini-budget amounts to an “admission of 12 years of economic failure”, shadow chancellor Rachel Reeves has said. The statement was a “menu without prices”, Labour shadow chancellor Rachel Reeves said, asking “what has the Chancellor got to hide?” Responding in the Commons to the Chancellor’s statement on the economy, Ms Reeves said: “The Chancellor has confirmed that the costs of the energy price cap will be funded by borrowing, leaving the eye-watering windfall profits of the energy giants untaxed. The pound dropped to a fresh 37-year-low against the dollar as the Chancellor unveiled his “growth plan” for the UK economy.
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The pound dropped to a fresh 37-year-low against the dollar as the Chancellor unveiled his “growth plan” for the UK economy.
Did labour not leave a note saying the country's broke. Oh yeah thats right gordon brown sold all the gold for 200 quid an oz. An thats what killed the currency im glad all the politicians can laugh and cheer you won't be doing that for long when the peasents rise.
...and yet I wouldn't vote for Labour if you paid me. Says a lot, doesn't it?
🙄🙄 Maybe if I headbutt the wall I'll wake up from this 12 year long tory nightmare.
Yes so many dummies like you explains a lot
@@eighteenfiftynine yes says an awful lot about you.
The Tories: The last 12 years have been terrible!
Also the Tories: *Were in power for those 12 years*
"Why would the last Labour Government do this?"
@@SpenceJS87 it's embarrassing so many English people don't know who's currently in power.
@@SpenceJS87 lol, it's the same thing in India. The conservative party of India, BJP has been in power for last 8 years and they still blame the prior governments for their failures
If the Tory’s get voted again I will have lost full faith in the British people.
Well done Rachel, great job
They know what they doing, they ain't stupid and that's what we need to remember, they are looking out for their own.
The gov has truly lost the plot. I have a half decent job and nothing has trickled down to me or anyone else.
It's the other half of your job you should be paying attention to. Time for a move.
@@jjefferyworboys8138 I'm a librarian, where do I move too? Should we shut libraries? 🤔
My job isn’t even that decent, 23.5k salary and yet in two years I’ve witnessed thousands of minimum wage workers be paid for months and months of furlough leave and taking on a second temporary job to earn like 50% more than me per month while I’ve had to continue working the entitled time.
And then they go back to their normal work and are now receiving handouts.
Like, hello? I’m probably gunna have to move into shared accommodation soon if this inflation keeps up while these ‘poor’ people get to stay in their cushy £300 per month council houses and have the government paying all their bills.
Feels f**king wrong and I’m half a mind to break my leg, claim disability and join em’ cos it really doesn’t pay to work right now.
Trickle down economics was a bogus theory dreamt up by the US right to convince the gullible that tax cuts for their wealthy backers were in their best interests too.
@@XcaliburReborn Girl, what is your profession?
We need a general election now!
We do.
Big time
We need boris gudjohnson
"eat the rich" suddenly became a realistic option for the coming winter of discontent.
No economic growth, a pound halved in value, Homeless rates increased massively. The Tories have desimated the Uk economy. Well done everyone.
If only Labour had anything about them, they could have cakewalked it. Unfortunately Labour have been as much a mess as the tories in recent years.
@@jte3643 No, that's the old "if we vote Labour the binmen will push us around" chestnut.
@@jte3643 they can’t grow up the whole ideology is based around blaming someone!
@@jte3643 hahah - the Tories have spent the last year trying to clear up the economic mess left us by Labour last time. You can’t tax your way to growth. What’s the saying - if you’re not left wing when you’re young you have no heart and if you’re left wing when you’re old you have no brain.
Its the lockdowns that decimated the economy, remember all the lefties jumped for joy when healthy people we’re paid to stay at home? Remember the lefties In the EU all wanted net zero no matter the cost and no matter where the oil comes from? Now we pay the price
"Look after the Pennies and the pounds will take care of themselves" this idea works really well as a mass of pennies leads to pounds, poor people have the pennies the rich have the pounds, the only thing that ever comes of making the rich richer is that the poor get poorer.
Cheddar Liz ( the Lib Dem renegade ) did say she will govern as a Tory !
Well back in the days poor people burnt candles and travelled on horses. Rich people had electric and travelled in cars. Now its the opposite isn't life strange.
Under Labour all would be poor as KARL Marx orders in the little red book and followed now by Labours lefties with the Unions demanding
@@adamkhan-ty4km funnily enough the same thing happened with high-heels, they used to be only worn by rich men
To not tax the energy companies a little is beyond me.. Especially now when we need solidarity across the board.
For everyone who voted for Brexit and the Tories: well done at contributing to 12 years of the UK getting systematically decimated.
Not sure what Brexit has anything to do with it?
@@SugarRayOPrey Yeah, nothing is better for the economy than kneecapping trade and free movement of labour.
@@SugarRayOPrey Are you for real ?
@@SugarRayOPrey Denial thy name is you
Those who voted for Truss and her company had a real surprise today. Hurray!!
You mean the 81,000 millionaire tory donors that voted for her? I think they got exactly what they wanted.
Watch them red wall seats swing back.A election winning budget for Labour.
and those who voted for blair or brown or even think this is any kind of real democracy.
@@pip1723 labour will be defeated soon
@@Madikon07 think you'll find they aren't in power so silly thing to say.
the working class are suffering so much because of the prime minister and her parties greed!
Incorrect, the government policies have been in line with the EU, Green madness and an overbearing state allowing mediocre at best civil servants to destroy our country. You are either economically illiterate, a crazed Marxist or an immature child.
Too true get them out
The working class voted them in....
The working classes are suffering no matter who's in power
@@redcrystalsoul aye tells you a lot about this country, too many stupid nasty ars3holes.
Liz truss is going to sink the uk economy with that cringe half smile facial expression
To put into perspective how bad things are the pound to the dollar was stronger throughout the 2008 crisis.
Sad
Why is that relevant? Both the US & UK were going through the same crisis.
@@agt155 because it shows that even during an international economic collapse your money was still worth more than it currently is
@@danielnorris8038 But you're comparing it to an economy that was going through an even greater crisis at the same time. Both US & UK currency is worth less since the crash because of inflation.
The recent exchange rate drop is down to our ludicrous liberal driven energy policies of the last 20 years.
@@agt155 both of you are correct, but the simple truth is we are losing our hard earned money to idiots. Be united in that fact and try to campaign for something better
Liz Truss just trod on everyone on universal credit.
None of them are likely to vote Labour though ?
@@jjefferyworboys8138 So it's OK to screw the poor and less well off because they don't vote for you? Spoken like a true "nasty party" convert. What a proud man you must be.
Old age and anyone under 100k
Economic failure has been the norm for decades and decades at this point.
this got going in 2003
Yet the bonuses of those that started everything have just been uncapped.
Vote Labour
@@Ball7399 ha no they're just as bad as the Tories the entire system is a joke.
@@josephrigley8974 How so ? What have labour done to make you say that ? To me it seems they would tax the rich and care more about the working class
International investors were not impressed by the 'mini-budget' - not only has the pound fallen but bonds have plummeted helped by the long term outlook for UK's finances, and Brexit is a massive factor in that
All clowns of the same circus. Some have blue hats, some have red hats. It's just a pantomime kids! 🤡👺👿
Liz and Kwasi look like a pair of woke Lego villains.
Lego villains but devoid of those connecting dots so they’ll both slither & slide their way for your next 2 years without getting themselves fixed down to any one policy.
think you're using "woke" in the wrong context there pal.
He looks one an outsourced sham
General Election please.
People who voted for the Torries and voted to leave the EU didn't help, I mean how could you not see that leaving the EU was nothing but bad decision, they left with no deals ready, they left and basically gave a finger to half of the European countries, how people thought that leaving would solve there problems had me at a loss for words🤔 and 12 years the Torries had and still nothing but problems people are crazy to keep voting them in
Democracy is an illusion im starting t believe nobodies vote matters , its all an illusion , i mean for a start why are pencils used in voting stations
I think Boris Johnson also helped them win big in the last election
Where is the media analysis of the £410bn extra Tory borrowing that is forecast over the 5 years? If this were Labour the media would be screaming about it. Tory economic prudence?: UTTER NONSENSE. We - the tax payers, the honest working people - will suffer while the super rich get richer.
No the media would not.
Labour bankrupted the country in 1979 and 2009 and saddled us with millions of unproductive immigrants who want to destroy us all.
The medis are Labour's propaganda arm
You can't even afford to buy pitchforks anymore....
outrageous! kick the tories out!
And replace them with woke Communists? No thanks
@@kelvinpell4571 no, I agree, no to woke communists. I'd put Labour in.
@@kelvinpell4571 agree, we will put Labour instead
If labour gets in we'll see you in the next couple years making excuses 😂
if the Tories were all to die in a horrible way I would not shed one solitary tear for them.
I would cry…
Of laughter and happiness
Please some do the world a favour and make it happen
Putin may give you your wish
@@david9180 well I suppose everyone is useful for something
Well they are going to kill thousands of pensioners this winter, so it would certainly be deserved.
Great plan, debt should solve the cost of living crisis 👍
Jfc
For who?
Not the poor
@@mechellekingman7833 not the poor? Oh lord we will all foot the bill.
Declaration of war against the working class
Been chatting to a mate who runs a pub/bed and breakfast. He's done. Today was zero help from the Traitor Tories.
If Truss's plan was to permanently end the Tory party. She's succeeded.
Here's hoping.
Labour are really gaining traction, finally.
Lol no
Labour aren't going to save us, it's our complacency and blind hope that the people who profit from the system being broken are going to fix it for us that's got us here. It's a revolving door for both sides of the aisle and not a single one of them cares about us and what we go through.
@@blueninjanoname7338 then why are you so desperate to talk it down? read the polls and opinion pieces your precious Tories are a raging house fire and the public know it.
Well said
Enjoy ,,,,,roll on Labour
Nobody should really be surprised, this is the Tories we are talking about, they've been doing this since way before Trus and Johnson, while the Tories are in power, energy giants and big corporations keep getting bigger, and the working people keep suffering
Since David Cameron was Prime Minister I remember the oldies were saying things will get worse now, because it always does when tories come in power, we had riots, MPs killed, failed brexit etc and they are restarting again after them 12years of worsening
Truss has got to look after those energy suppliers or those brown envolopes with the back handers in will get lighter and not go so far..
‘Brown lipstick in the Corporate suite’ - FZ
@@lw1zfog 😂😂😂
Why all of them are laughing and enjoying when the people are suffering. Truly disgusting
As much as I'm not keen on Labour, she's right. The Tories have been horrendous. They also totally screwed us over on Brexit which I now feel stupid I voted for. All its gave us is more channel migrants and rivers and beaches full of raw sewage. Everything is worse under the Tories, absolutely everything. I think we need to be honest about that.
It didn't give us more channel migrants. Hardly 5% of migrants that travel to Europe actually come to the UK. And I really do hope you know we have channel refugees because we don't have a safe legal option for people to apply for.
I'm glad you feel stupid.
@Rosy sadly no, but we have more than enough to support the current population and more if we tax the rich!
Also, let's not forget they are beneficial to us as well. Even if they are not highly educated, there are still so many jobs they can do, jobs that brexiters were angry that they came and took but are now too proud to apply for it. Jobs like airport workers, farmers, social care workers, lorry drivers and much more because we see struggling in this industry thanks to brexit! Also, don't forget a lot of qualified people don't want to come such as doctors and nurses thanks to brexit.
Dont pretend we are the only ones doing migrants a favour 🙄
Kudos to you for admitting you were taken in by these charlatans.
Brexit is not the problem, a Tory hard brexit is the issue, the decision to leave the EEA is an act of self harm that is hard to fathom.
The tories’ faces tell everything: “What economyc failure? We have never been so rich!”
Liz Truss will not last long.
Makes you wonder if that was the plan all along.
Rachel Reeves comes across as a political and intellectual giant compared to the whole of the current cabinet.
Hasn't been an economic failure for them and their privileged friends
Absolutely no help for normal people unless you can afford to be buying a quarter of a million pound house in this economy, or earn 100 grand a year. I suppose we should be happy at not paying £3 a month in National insurance
Normal people earning ordinary salaries own a house worth much more than a quarter of million pounds.
Lots of young couples will be buying houses for more than 250,000 that's easy to do with average jobs and saving up .
30 years out of the last 42 really.
Tory voters, this is on you...
I wonder if Kwasi has any friends and family who earn £150,000
I wonder if he even knows anyone on a first name basis who doesn't
Of course.same way liz untruss got paid £100k by former oil company person and runs a company in the oil industry currently.the devil and her slave both should be burnt
Destroyed.
Crazy Kwartang and Dizzy Lizzy; what can go wrong?
Truss, Rees-Mogg, and the whole damned lot of them......they need to go
Absolutely right. The only problem is, who do we replace them with? and please don't say Labour.
@@trytellingthetruth.2068 Labour
@@trytellingthetruth.2068 It doesn’t make a difference who they’re replaced with, absolutely anything would be better. The Tories are spending just as much as any labour government, without giving any of it over to the people that need it. They’re the worst of both parties combined now
How about representatives from the British public? Or is that too unrealistic
The dollar will be worth more than the pound after the recession bites hard
I Love how Rachel Reeves brings the receipts at 3:31
Well said that lady
Each and every person sitting there while she babbled on laughed, they do not give a f--king crap about the working class people. None of them will make things better because they are there to line their own pockets. Just look at how they were all laughing as if it wear a joke.
As if it wear a joke yes, absolutely
She is pretty much bang on., but to see the Labour bench laughing about it really sticks in my craw.
The tories are a whole new level of corrupt, and the Westminster setup allows them to be. Labour would be a bit less crap, but really it's time for Parliament and the outmoded Westminster nonsense to go.
Rachel wiped the floor with Kwarteng with Thatcher Jnr sitting there like the grim reaper.
House of traitors. Tick tock…..
True, so true
can I just say... now we need to take to the streets and get liz truss out of office asap. This is bs... We were already struggling and now they energy companies are getting tax cuts while making 3x more profit?
we need to take to the streets and protest
We need a new government.. sick or this ..rich stay rich and poor having to pay more..
Time for a election.
Give US the choice who we want to run the country.
As I have no trust in the torys...
I have even less trust in the incompetence of Labour who when last in government bankrupted the country and where responsible for the ten years of austerity that followed.
@@jjefferyworboys8138 who said anything about labour..?
fantastic blame labour
12 years of economic failure followed by 1/2 hour of catastrophic idiocy
Never voting Conservatives again!!
12 years of Tories - the only thing that’s improved is bankers bonuses. Shameful.
All that comes out of the tories mouths
Ouch Liz must have felt that! 😯
Awfully brave of you to suggest Liz has feelings
she seemed amused from the few seconds we saw in this clip, not sure they really care.
the cold blooded aren’t easily moved
@@MrPepperJams why would you care when you still get votes! The sheeple…I mean people of the country are just followers of whatever’s trending and popular. Liz will come up with a winning narrative and the people will lap it up as usual!
"The position is ridiculous,the outcome uncertain":
Oscar Wilde, posing not as a foreign exchange dealer pondering his sterling positions, but may as well have been.
No Manifesto, No Mandate, No Vote, No Right To Govern.
aren’t you all glad you did that ‘all in together’ ideological austerity stint with them a few years back
just think how much worse it could have been if you hadn’t followed the economic science !
Well don Rachel
Let's swap Liz for Rachel.
What is a ‘manifesto’? Have I missed something?
She really is very, very impressive
Surely something has to give ?! Civil unrest
Out they go at the next election
Politics in this country, including the calibre of politician: is in the gutter. We have a choice at the election of: Truss, who in my opinion is false......and starmer: who will make a mountain out of every situation, and would be the ultimate drama queen. So who is there to vote for 🤔
Put your name down, you might do well
dont agree next election you have a choice of ifs and buts if labour get in but you know what you get with the Tories in
tories out next GE they will be destoryed
Pretty sure there's going to be a general election quite soon you can't put a budget this big in place without the public voting for it
of course if they are in power they can leave it as late as they want, it’s just they may be out of power for years after, when people wake up to what they have done
If we had any body better but sadly we dont
@@denismoorcroft4286 if you think starmer is worse than truss then you're tragically misinformed, and have most likely been failed by the education system. Basic literacy and numeracy skills should be enough to tell you that starmers economic policy is far better than truss'.
A party that broke laws and lied will do anything but allow an election because they would be out in a Tony Blair size landslide.they should be out appalling what they're doing regardless of which party it is.policies are so despicable when in cost of living crisis for the poor not the wealthy.
Dennis moorcroft I presume your issue is Stamer doesn't ooze personalty. You can't be judging him off his suggested policies or past record
To be fair. No more laying awake. I don't care anymore.
Oh dear and this coming from labour ,what a joke
comfy seating arrangements...
Liz is maxing the the credit cards out now ...next one !
Higher wages !! For who the bosses !! Not for their staff I'm voting for Labour Party I was Conservative but now I'm Labour.
David Sewell Clarke You were stupid to have voted for the Tories in the first place. Shame on you
Bravo , bravo
Yes,you are right, where are you from?
The chancellors face says it all absolutely disgusting he's just squeezing every millions out before he gets sacked eventually
Quite congested seating arrangements.
The Torys don't like the poor!
Yes, you are right, where are you from?
You might attract a few more Aussies to come over if the pound keeps going down, that is your only positive.
I wish Britain goes bank corrupt.
12 years of failure enabled by the Bile and its readers.
Nothing will change unless the people stand up we to soft now why don't we all not go work and dont pay our bills then they will start to panic with no money coming in
Leaving us freezing and starving but Ukraine is alright
If it’s so alright why don’t you go for a holiday in the Donbas, idiot
Ukraine has its own dictator, they're far from alright.
Ukraine is far from alright. If its so wonderful there, maybe you'd be better off there.
BAE, Thales, Northrop Grumman, Lockheed Martin, Boeing, et al thank you.
Slava the Military Industrial Complex !
@I love to have a change now and again They're still not okay. You do realise zelensky has mutual friends connected to American intelligence right. He's building up Ukraine to then sell it off for profit. Zelensky is just a putin who does what he's told.
If the energy companies' profits are taxed more wouldn't they just put up their prices to make up the shortfall?
yes, and that's what the energy price cap is for. They would shaft us as much as possible without that cap. Also, Labour's plan is to tax only their excess profits more, not their existing predicted profits, as it's wrong for energy companies to profit from Putin's war
what about bank profits ?
That's why energy prices are capped
Energy companies have made billions of unexpected profits so they would have no excuse to raise prices. The tories don't want a windfall tax because they are super rich and donate to the tory party.
@@royboy565 so have bankers and stock bokers
Nothing new same old same old classic tories
He should be sacked for what he did at the Queens funeral
Wooooo
Go kier go get them out
Anybody but Liebour.
And his cheque is in the post
Labour really needs to replace Starmer with one of their well spoken, passionate females. I really like Angela Rayner and this woman is spot on too. I suspect Angela would have been out on the picket like if she had been allowed.
Rachel Reeves isn't a bad option
Starmer is fine public voted boris in ......think about that how fcking stupid is anyone. He was said to be a disaster and it turned in that way and this followed.public step the disgrace.starmer is not morally reprehensible like every conservative is.morally bankrupt the lot of them.
I love Angie, but I think the right wing media would go after her big time. She'd need to avoid gaffes, like calling Tories 'scum', which can so easily be used against her and the Labour party.
I really hope Reform UK gets in after all this
Lies,after lie defending the rich profiters and make the poorest suffer
3:13 they don't even care. LOOK AT THEIR FACES
12 years and now this, safe hands?