‘This is nothing to brag about’ - how Labour’s first Budget will crush growth

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  • Опубликовано: 29 окт 2024

Комментарии • 108

  • @jacobcohen9205
    @jacobcohen9205 4 часа назад +36

    if you want growth, the last thing you do is RAISE TAXES.

    • @George-vf7ss
      @George-vf7ss 3 часа назад +3

      Shhhh....doesn't fit the narrative.

    • @METALFREAK03
      @METALFREAK03 3 часа назад +1

      I am assuming Rachel thinks as raising tax is a positive thing as it says the verb "raise".
      This is why we need independent schooling folks.

    • @METALFREAK03
      @METALFREAK03 3 часа назад +2

      On my quip there, many may not know this, Rachel went to an independent school for Girls in a prestige English county. Yet wants to put VAT on the fees of these institutions for no benefit at all to hard working families that just want to send their children to a good school.

    • @JesterEric
      @JesterEric 3 часа назад +1

      Government spending counts towards Gdp and they are going to borrow and spend

    • @jacobcohen9205
      @jacobcohen9205 2 часа назад

      @@METALFREAK03, this is another bone for the dogs still clinging to and fighting the Class War of the '60s, like the fox hunting ban. They don't do that because the comrades care about foxes but because the workers don't take part an see it as a Posh boys sport.

  • @georgethompson453
    @georgethompson453 59 минут назад +4

    This budget simply doesn’t make any sense but if you don’t have anyone with business experience in the cabinet that’s not surprising.

  • @michaelmoran1964
    @michaelmoran1964 49 минут назад +3

    We were warned this would happen ,Starmer told lies and the sheeple fell for it

  • @tomsmith6882
    @tomsmith6882 Час назад +8

    I run a small 15 person service company (ie services = not tied to a location through plant, machinery, or clients) in London. The people I know in my market who are similar to me 10-50 staff, around one third are today executing on plans to relocate we had all pre prepared. It’s partly this budget, but it’s mostly the next one, and the next one. We know this isn’t the end of the squeeze it’s the start

    • @Misiu223
      @Misiu223 46 минут назад

      That's exactly what I think. This is just the beginning ....of the end

  • @George-vf7ss
    @George-vf7ss 3 часа назад +14

    Perfect your skill set and move to where the opportunities are.
    There is no future in Britain. You will be taxed into serfdom.

  • @stephfoxwell4620
    @stephfoxwell4620 3 часа назад +16

    Raising Employers Nics is a complete disaster.

  • @Dubwiser-oi9bw
    @Dubwiser-oi9bw 2 часа назад +7

    Why the hell did they give 1 penny off a pint????? Saving 5-10p on a night out is not going to make any difference to the public but will cost the government £85 million a year, which could have gone towards the roads, schools, or NHS.

    • @Benzknees
      @Benzknees Час назад +1

      Set against an increase in non-draught drinks, it's still going to raise tax overall on alcohol. And given the damage to the pub trade that banning smoking in outdoor areas will do, this is a sop to lessen the blame when hundreds more pubs close for good. The consequent tax loss from the smoking ban will be many times more than £85m.

    • @catherinethomas1276
      @catherinethomas1276 30 минут назад +1

      Keers beers

  • @adrianwaygood5406
    @adrianwaygood5406 2 часа назад +13

    It’s a nightmare, we are a community interest company and this budget may just kill us off as the estimated 90k additional cost that we cannot pass on to our vulnerable clients.
    As a working single father just can’t see how this helps at all.

  • @stevesmith3990
    @stevesmith3990 3 часа назад +9

    Prepare for more even financial disaster resulting in a death spiral of ever increased debt and taxes.

  • @roders007
    @roders007 4 часа назад +14

    Rises up and growth down

  • @flightcomputer2437
    @flightcomputer2437 Час назад +4

    Inflationary taxes combined with record borrowing. Recipe for disaster.

  • @christinejeavons9464
    @christinejeavons9464 3 часа назад +10

    Welcome back to 1976....😢

    • @samuelchandler7612
      @samuelchandler7612 2 часа назад +2

      Another depression 😮

    • @Benzknees
      @Benzknees Час назад +2

      Should we put in the call to the IMF now or later?

    • @catherinethomas1276
      @catherinethomas1276 28 минут назад +1

      And that was hellish I was a child but remember the stinking garbage everywhere from refuse worker strikes amongst others. My parents tories.

  • @stephfoxwell4620
    @stephfoxwell4620 2 часа назад +9

    Time to leave Britain now.
    The Dream has died.
    Rapidly, tragically and completely

  • @ninasnyman
    @ninasnyman Час назад +2

    I find it hard to listen to Michael Gove who put socialist policies in place and was part of why we have this Labour government. His war on landlords is one case in point.

  • @catherinethomas1276
    @catherinethomas1276 31 минуту назад +1

    A spiteful budget to farners and private schools as well as poor pensioners and the majority of the proletariat.

  • @edgar-valentine
    @edgar-valentine 2 часа назад +3

    Why on Earth does Labour squander its huge majority on such a mediocre budget? I have had enough of these same old, same old, clueless career politicians.

    • @Benzknees
      @Benzknees Час назад

      Because unelected quangos are the real ones in charge, such as the OBR & BoE. As Liz Truss can testify to when she tried to ignore them.

  • @prashantkotak5181
    @prashantkotak5181 4 часа назад +4

    "What do you think Rachel Reeves wants the message to be?"
    The designer of the budget had clearly been instructed not to beat about the bush. "Make it evil," she'd been told. "Make it totally clear that this budget has a right end and a wrong end. Make it totally clear to anyone standing at the wrong end that things are going badly for them. If that means sticking all sorts of spikes and prongs and blackened bits all over it then so be it. This is not a budget for hanging over the fireplace or sticking in the umbrella stand, it is a budget for going out and making people miserable with."

    • @timjones9873
      @timjones9873 2 часа назад

      This is an absolutely legendary reference

  • @michaelsimpson4400
    @michaelsimpson4400 Час назад +4

    Sorry but you cannot EFFICIENTLY spend that amount of money on infrastructure in 3/5 years in the public sector. The Public Accounts Committee said it takes roughly 11 years to build a hospital start to finish and almost always ends over budget.
    - If you allow the private sector to keep more of its money they will either spend it or invest it. If they invest they have an incentive to get results quickly.
    - If you give money to the public sector to "invest" they have no incentive to get it performed on time or on budget. If anything with some projects the project completing means senior people will not have a job.
    And sorry, I will not be cheering my pint being £6.49 not £6.50.

    • @Benzknees
      @Benzknees Час назад +1

      But big projects do allow politicians a photo op as they are announced or the first sod gets cut. And that's what counts!

  • @hughthomson6201
    @hughthomson6201 2 часа назад +1

    Thank you for this presentation. Very interesting.
    That said, there is no inheritance tax in Australia so my dual nationality might prove handy.

  • @betweenworlds4869
    @betweenworlds4869 53 минуты назад

    The OBR aren’t being “tough” on Labour with their growth forecast. They’re managing expectations. When growth is even slightly higher than the anemic projection, Labour can claim to have exceeded expectations.

  • @jaaguitar
    @jaaguitar Час назад

    NHS public sector pensions. That's the needed reform.

  • @catherinethomas1276
    @catherinethomas1276 28 минут назад

    I like Michael Gove

  • @lesliecunliffe4450
    @lesliecunliffe4450 3 часа назад +2

    Michael Gove on 'trust overall'.

  • @iconicon5642
    @iconicon5642 Час назад +3

    Gove, lover of lockdowns and green claptrap. What's he doing here?

  • @GazGaryGazza
    @GazGaryGazza 3 часа назад +5

    Hahaha, what growth is that then? There has been none over 14 years so presumably it will now shrink you’re saying? We shall see then

  • @j4mm3d
    @j4mm3d Час назад +4

    "Starmer's brand" was ruined for me when he was dancing at Taylor Swift concert two weeks after the "christian choir boy" hacked to death the little girls at the Taylor Swift dance class. Such a lier.

  • @jerryappleton6855
    @jerryappleton6855 2 часа назад +5

    So let me get this straight:
    1) Labour have given inflation busting pay rises to NHS staff and want to increase its budget.
    2) To pay for this, they are rising NI on employers.
    3) The NHS employs 1.5 million people.
    4) So Labour are charging the NHS more NI which comes out of the NHS budget...so they can increase the NHS budget...
    Makea sense...

    • @garymitchell5899
      @garymitchell5899 2 часа назад +1

      The NHS is a public employer, none of which pay NI for precisely the reason you reference.

    • @garymitchell5899
      @garymitchell5899 2 часа назад

      BTW the number of employees is irrelevant anyway because it's pro rata, obviously.

    • @MarkT-e8x
      @MarkT-e8x Час назад

      I thought NI increases for the nhs and all other public employers is ring fenced and will not be increased?

    • @garymitchell5899
      @garymitchell5899 Час назад

      @@MarkT-e8x The NHS is a public employer, none of which pay NI for precisely the reason he references.

    • @jaaguitar
      @jaaguitar Час назад

      The staff don't pay into NI either. They are paid net. NI - NI = zero.

  • @lakedistrict9450
    @lakedistrict9450 3 часа назад +3

    The bottom end of society is really struggling economically. There is bound to be a redistribution downwards. Fair enough is it not? Taxing private education is a mistake for middle England though. This should have been means tested, as should winter fuel allowance. Easy enough with the precedent of child benefit.

    • @bjthebrave
      @bjthebrave 3 часа назад

      @@lakedistrict9450 and who pays for all the striving up children who will now be forced to drop out if private education and enter state schools ... Oh wait .. the tax payer!

    • @JesterEric
      @JesterEric 2 часа назад +1

      If the endless tap of mass low skill immigration was turned off wages for the 'bottom end of society' would have to rise massively if the jobs are essential. Government spending would fall as fewer households would receive benefits

    • @lakedistrict9450
      @lakedistrict9450 Час назад

      @ Agreed. We are messing our country up. IMHO

    • @lakedistrict9450
      @lakedistrict9450 Час назад

      @ Yep…. Be interested to see the data in a year.

  • @johndinsdale1707
    @johndinsdale1707 4 часа назад +5

    NHS will have to pay 1.6 million extra employers NI plus the pay settlement which leaves very little to improve service!

  • @iconicon5642
    @iconicon5642 Час назад +1

    IMF beckons.

    • @iconicon5642
      @iconicon5642 Час назад

      OBR - joke. Taxes - joke. Government abd public sector. The British should be rushing to Poland.

  • @seanpidduck
    @seanpidduck 4 часа назад +9

    Michael Gove is the reason I will never, ever give the Spectator another penny of money. Can't stand him

  • @SFRZRD
    @SFRZRD Час назад

    Can’t even put into words how much it irritates me when political types use the thumb gesture, it just tells me you’re so incapable of communicating with normal people that you’ve had to have training by someone else as equally incapable.

  • @mark9716
    @mark9716 42 минуты назад

    Cant take Spectator seriously with Gove there.
    Tories blew an obscene amount of debt on COVID, raised taxes to record levels and were generally useless. Labour are a bit worse.

    • @catherinethomas1276
      @catherinethomas1276 23 минуты назад

      No one knew how dangerous the " China virus " was. They were following orders to lock down. Scientists orders actually 😮 They did their best but the pp contracts and matt 😮😮

  • @simonbamford8441
    @simonbamford8441 4 часа назад +7

    Spectator - mouth of the Tory Party.

    • @Plato76...
      @Plato76... 4 часа назад +9

      @@simonbamford8441 Just put your argument against theirs instead of that nonsense

    • @HarryG88
      @HarryG88 4 часа назад +7

      Because there are no left leaning outlets....
      The BBC "hold my beer".

    • @superted6960
      @superted6960 3 часа назад +5

      Doesn't make them wrong

    • @danielclarke9844
      @danielclarke9844 3 часа назад

      Same as the New Statesman, Mirror and Guardian being left wing mouth pieces for the Labour Party

    • @rogerfranklin5732
      @rogerfranklin5732 3 часа назад +1

      Yes- and? If you dont like it, go watch a guardian podcast

  • @sverrekoxvold3834
    @sverrekoxvold3834 4 часа назад +4

    Very disappointed that you give airtime to this airhead Mr. Gove. What sort of review is this biased utterance from a representative of a failed rep of the con-government? A backstabbing posh MP that is great at talking biased selfish sentences. That’s me having enough of listening to The Spectator.

    • @iffler2542
      @iffler2542 4 часа назад +3

      Bless.

    • @dogbreaththe3rd851
      @dogbreaththe3rd851 3 часа назад +2

      I agree, gove is far too left wing to be on the speccy.

    • @garymitchell5899
      @garymitchell5899 2 часа назад

      He's the editor they can't really keep him off.

    • @sverrekoxvold3834
      @sverrekoxvold3834 8 минут назад

      I did unsubscribe, but I still get these weird comments.
      Sigh….;)

  • @wordfromabove7176
    @wordfromabove7176 Час назад

    I think it was a good budget. It’s nice to see the show on the other foot with the wealthy picking up the tab rather than the tories hitting the masses and protecting their mates

    • @Mike-br8zt
      @Mike-br8zt 56 минут назад

      ...and what do you think the wealthy will do? Create more jobs, invest in the UK or run for the hills and get out of the UK while they can.

  • @lautreamont808
    @lautreamont808 56 минут назад

    Judging by how angry Sunak was at PMQ, I'd say the Tories are going to have to eat an enormous slice of humble pie. People have a lot of deference for the Conservative Party that they're the party of economic competence but that is very much in question now given Reeves' work. If her budget was bad - the market would have reflected that, as it did with Truss, but it didnt - therefore the ideology underpinning the economic strategy in the past was not supported by the market. In that sense Kemi has already lost the argument by the market not crashing. Her solutions will not be a better alternative to this government's approach. I wish Tugendhat was in the running. He was your best candidate hands down. A good man to compete with the good that is coming from the current government. A baddie can't do it - there's no more traction in it. The worm has turned...but the Conservatives can't see it. Sorry Gove - I think you might be out of another job. Perhaps the Liberals are the effective opposition now.

    • @catherinethomas1276
      @catherinethomas1276 23 минуты назад +1

      No way

    • @keysersoze1522
      @keysersoze1522 58 секунд назад

      Supported by the markets?? Gilts tanked this afternoon once the OBR's report on the budget came out. That means that interest rates will stay higher for longer. The OBR's report states that everyone in the country will be will be worse off after this budget and that it will be a major drag on growth. Sunak was absolutely right in his dismantling of it.

  • @alexmood6407
    @alexmood6407 2 часа назад

    One of the great minds behind the fantastic Liz Truss budget and a guy who run this country into the ground and turned it into the worst performing G7 economy will now share with you their wise thoughts on the economy 😂
    You have to admire people with such lack of self awareness 😂😂

  • @darrenholden7447
    @darrenholden7447 3 часа назад

    It’s a brilliant budget and firmly puts the Tories in the dock!

    • @Casper-we3dq
      @Casper-we3dq 3 часа назад +2

      What’s brilliant about it?

  • @njAKydyd
    @njAKydyd 4 часа назад

    I tried to repeat this trick in front of a mirror, and now I have a new record of a broken mirror and lots of laughter🧡