Ken Clarke 'very worried' about the state of UK economy
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- Опубликовано: 5 сен 2023
- Former chancellor Ken Clarke told Sophy Ridge he thinks it will take several years for the UK's economy to recover and said the focus must be on reducing inflation and getting back to growth by increasing skills training.
Mr Clarke disagreed with Andy Haldane, former chief economist of the Bank of England, who told Sophy Ridge on Tuesday that the bank printed money for too long.
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Sadly with each passing day we can see the impact this awful policy has had on the UK. Tied up in red tape and tariffs with lower GDP than before the pandemic whilst the others in the G7, including Italy, are above. The lower GDP means we do not have the headroom to pay our way in the world and must resort to borrowing.Whilst there are rich people in the UK; a great many of us are poor and now we are poorer still. What steps can we take to generate more income during quantitative adjustment?
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I don't think people have fully grasped how poor our country has become.
Wait a few years, everyone will grasp it. Brexit was a shot in both feet. Still I hope the Brits will pull through. I feel sorry for the people who voted against, they also have to suffer the consequences. Greetings from Belgium.
I am currently in France and it is sad to see how far behind the UK is lagging. We are already seen as the paupers of Europe. The UK's poorest 20% are now poorer than the poorest 20% of Poland for the first time in history. Is that a brexit benefit?
@@davidbrettle4547question: if the perception of the UK is so bad from France why are there so many in France desperate to cross the Channel rather than the other way round? I genuinely don't understand.
Britain is a poor country with a few extremely rich individuals. We rank around 20th in the world and continue our downward trajectory.
Poor? Go tell that to most of the other countries on this planet of ours. There's more than enough money, its just that it's in the wrong hands.
And yet billionaires have seen their fortunes increased 25% since 2018, so someone's done well out of the last 13 years.
Loads of people have. 0% interest rates? Almost free money. And when covid hit, It literaly was.
Good point.
Many of them, including Rishi Sunak, have an effective tax rate as low as or lower than the basic rate.
Ken Clarke is not the best person to seek advice from; he was in the government that enforced austerity when interest rates were at their lowest, accelerating the UK's decline. He consistently voted against measures to tackle climate change and in favor of privatization.
He also voted to increase VAT, a tax that disproportionately affects the poorest. He advocated for reducing capital gains taxes on the richest individuals, thereby promoting greater income inequality. He supported bankers' bonuses and opposed higher taxes on banks, and he showed favor toward tax avoidance by the wealthy. A truly concerning individual.
So Brexit works like Daily Moron's owner wanted.
That’s the reason the Tory party exists. Make the very wealthy even wealthier at the expense of the poor.
I'm a civil engineer. If an issue isn't tackle, then doesn't take a genius mind nor an expert to predict that over time things will deteriorate further.
especially the pipes and roofs
No point in stating the obvious to Tories or brexshit supporters
That is why any Structural Reports would contain details about how RAAC and other building materials should be treated and further how long and what should be done once any given and determined Life-Spans of any Temporary Structured Material that has been Stress-Tested should be replaced once any time limits imposed are actually reached.
The Question that needs urgently fully answered by both Labour and Conservative Governments is; What has happened to ALL those many Building Material Structual Report's of the past between The 1950's todate, for if they have been destroyed, then who ordered this happen and why?
True - unfortunately our modern political class is made of up sociopaths, psychopaths and the unemployable: they couldn't last anywhere else.
The risk of sudden collapse of this type of concrete has been known about for way longer than 3 weeks.
Very true, and a disappointingly disingenuous performance by Ken Clarke, trusted by some to give honest assessments of the government’s performance, despite his party allegiance. Not here, and using the word “disingenuous” is being very charitable. The “cussedness of Fate”, my backside. Another Tory busily dissembling for the Party.
Not sure why they bring on people who don’t know the facts. The concrete had a limited life span of 30 years - used in the 1950 - 1990 - do the maths Ken.
yeah well he was under Osborne's cabinet so lots of defending previous poor decisions going on here@@kathyklaxon5321
It was banned in 1996, by the govt Ken Clark was in!
Disappointing from Clarke - and he's supposed to be one of the more sensible ones.
The RAAC's problem was most likely firstly created when Ken Clarke was in The Thatcher Government back in The 1970's when Thatcher had The GLC abolished.
In the basement of County Hall SE1 they use to TEST all types of Building Materials for Strength and Life-Span. This first started under the former authority of The LCC (London County Council) and was then carried on over after 1966 by The GLC (Greater London Council). Given that there was and still are far too little in the way of UK Testing Sites to have tested and then determine whether any Building Materials should ONLY be classed as being for "Temporary" Use and therefore having a set placed maximum LIMIT imposed whereby thereafter any structures would have to be either replaced or demolished altogether which generally was between 25 to 30 years after being firstly erected. This was the case with Pre-Fab's that were erected Post WW2 to house People that were bombed-out in Cities around The UK whereby a 25 year Time Limit was place upon these constructions that were origially erected under the Authority of the then Ministry of Public Building and Works.
In LONDON the GLC would have passed their findings onto ILEA (The Inner London Education Authority) that as like along with The GLC was scrapped by The Thatcher Goverenment that Ken Clark was a Minister of.
So therefore, NO this RAAC issue is not any recent current event of the past 13 years for all types of Buildings from Schools, Hospitals, and Homes etc within both either The Public or Private Sectors since the Question that needs to be asked is, - Where has ALL the Material Safety Records of both the former LCC and GLC gone along with the then issued recommendations of what the Original Life-Span was applied to RAAC Materials of which this SAFETY information would have been shared out at any testing points between The LCC/GLC and many other Local Authorities throughout The UK who would have seeked their testing guildance for Public Safety reasons.
And..., who within both The former Labour and Conservative Governments to-date had both former LLC and GLC Structual Building Material Testing Reports destroyed leaving now todays generation of belated Building "Experts" to try and pick-up the pieces of many former UK Government failures todate.
Ken’s argument that they have faced all these unexpected crises is ridiculous. Pandemics are expected and have been known about, maintaining and renewing building work has always been required, wars have always been known to occur throughout human history. The uks lack of resilience and preparedness is inexcusable, all of these crises are predictable and their impacts could have been mitigated with proper investment and planning. Country constantly in crisis mode under conservative governments and the bring it on themselves.
Exactly, London is supposed to be better at understanding risk and insurance than any place in the world
Yeah, also, I don't remember him being so forgiving when the financial crisis hit and it's not like Labour didn't have unexpected events like the Iraq War, which cost a few bob. The country will always have one issue or another, the problem is, Tories use that as an excuse to make government cuts, until services are destroyed.
*HE IS OUTRIGHT LYING ABOUT RAAC* we have known for 40 years it was a problem - manufacture and use of it in the UK was stopped in 1982 - HIS GOVT lowered building regs in 1985
Oh of course it’s absurd to think we couldn’t see Covid coming ahead of time or how much it would cost. Now the Iraq war was completely out of politicians control how masterfully the labour government handled an event that came completely out of the blue compared with Covid which everyone knew would happen.
@@matthewrobinson2172 In 2018 a Govt report concluded an airborne respiratory pandemic was the No 1 threat to the UK's national security. It was absolutely and very accurately predicted.
The Government is like the concrete CRUMBLING.
With both Labour or Conservative governments on top, it is therefore The UK that is now crumbling fast from being underneath them.
The REAL problem is that both Labour and Conservative politicians don't really understand anything other than what they are told to say by blaming each other.
Luck we have Labour waiting in the wings to sort it all out eh?
@@jumblestiltskin1365 No since Blair (Thatchers greatest achievement!) there isn't a Labour Party only in name. its Hats off to that typical right wing mentality of 'silk purse out of a sows ear' unfortunately cutting corners with concrete roofing ends in disaster... 😢
@@joncumberbatch852 agree, the labour party is a shadow of what it used to be.
@@jumblestiltskin1365 yes the "third way" of social democracy isn't and never will be democratic socialism unfortunately thanks to the properganda of McCarthyism all socialism is the same
Of course Clarke thinks Sunak is a “nice guy”. Rishi strikes me as the type whose all manners & smiles around the upper classes but has contempt for the working classes. He’s unelectable.
PFI contacts for building schools. Made them as cheap as possible. I was a architect doing design and build contracts 20 years ago and we could see this coming back then.
"Nobody put this at the top of their list..." And that's the problem. Ditto asbestos in public buildings. Fire safety standards. I like dear old Ken. But like all tories, he thinks nothing's really worth worrying about. Put it off 'til later, someone will fix it when it becomes a problem. Probably the private sector. Where's my commission?
Labour had a program of works that they were working through when the tories took over. THEY had it at the top of their list 13 years ago.
labour spend 5x more than the tories are doing on education.
Absolutely WRONG and lies from Ken! The risk from RAAC had been warned for decades. The limited lifespan of the stuff was well-established. If one does not replace something when it is meant to be replaced, what is inevitable is eventual failure! These people have just been taking the same old approach of 'lets only do something when we absolutely have to' !
The country's about as together as Ken Clarke's collar and tie...
And the length of those finger nails! Cut them , man!
How he can say this changed three weeks ago. We know all our infrastructure has a shelf life. This is the result of austerity and lack of revenue.
Yep, and where did the revenue go? Rich mates, the billionaire class themselves due to further tax cuts etc
Result of austerity,,,😮Austerity is a load of tosh to push blame towards the usual suspects ie the poor😢. The real reason is a result of using public borrowing to reinburse not just depositors bank accounts but also those bankers who were gambling with money they didn't have...
There’s plenty of money it’s just ending up in corruption
Give it a rest
@@timcomley5948 Give it a rest from pointing out of the truth?
We tax as much as China, More than Russia, and still have to borrow 150 to 200 billion a year. No amount of bashing rich corporations or individuals can address that, also robin hood economics dont really work.
Or in Ukraine! Or as foreign aid to India, or on 4 star hotels for thousands of migrants who are a far bigger danger than danny the Wandsworth chef!
We don't have money we have fiat currencies that is different to real money
They kicked the can down the road and now it's right in front of them. All austerity did was let things fall apart and get worse, hoping it would all be alright in the future. But with tiny economic growth, a larger and older economy and the economic problems of Brexit, we're left with no money, big debt and crumbling infrastructure.
It was pretty dire under this git ime sure many remember him with his glass of wisky hitting us this guys was as bad as the one's in power now .
And next we will see a global hyperinflationary depression nothing to do with Brexit and everything to do with a debt based economic system we haven't had austerity we need to cut the size of government create the right conditions and the rest is down to the country to do the rest
and 10 million extra mouths to feed
I think Ken Clarke is interesting enough to let him finish his sentences when interviewed.
It never ceases to amaze me that the omission of maintenance costs from the foundation of any budget has become "normal" let alone acceptable. In my career my line-item budgets were always broken down into Infrastructure, Systems, and Projects - and the first two (at least) always had maintenance costs for scheduled replacements or ongoing contracts. Similarly, my home budget has funds going into a "big bills" account on a monthly basis - an account which covers any failure of HVAC, Water Treatment, or the odd maintenance task. How on earth do Public Servants get to totally ignore this basic reality and then act with surprise when they are hit with huge repair or replacement costs. That is professional misconduct and should be prosecuted as such.
I am no expert but cherry picking how inflation figures are calculated and why didn't they use a wage price freeze instead of inflation while relying on credit that is being used to not just maintain but increase corporate profits... Where is the political opposition
As an outsider, I find reading the comments hard to fathom. The British will rebound, but I’m afraid their standing in the world has decreased a little.
Concrete light weight breeze blocks are fine for patitions and insulation but not for load bearing use. Foamed pumped aireated concrete was used as a filler protection to structural steelwork against fire (instead of asbestos cement) as long as it could not become wet . THE BIG FAILURE WAS THE ABOLISHMENT OF THE BUILDING RESEARCH ESTABLISHMENT (BRE) .The BRE was the regulatory authority which tested the characteristics of all new construction products . It measured their qualities and prescribed their limitations and extent of their use by regulatory law..... THIS INSTITUTION WAS CLOSED BY MAGGIE THATCHER. ...and introduced cowboy construction to GB. AMEN
Everyone else has been worried for years.
hold on, where did everyone go?
Out of the blue, not really. I knew a school caretaker who said it was known about 5 years ago. However if they had refurb and rebuild programme had been followed, the expert wouldn't have had to say it is now a crisis.
Exactly. He's lying .
@@garyh1572similar yo 'the contaminated bloods' of the @980s.
The British government knew the lifespan of the materials used at the time they were used. There will be records if they bother to look it up as they test materials. They have known for decades that this would have to be tackled and had a very good reminder in 2018 when a roof collapsed due to the very same issue.
Blame experts for politicians mistakes and then be surprised people don't trust experts.
*HE IS OUTRIGHT LYING ABOUT RAAC* we have known for 40 years it was a problem - manufacture and use of it in the UK was stopped in 1982 - HIS GOVT lowered building regs in 1985
It is years of underinvestment. This guy is a joke
If Ken is worried then we should all be worried.
He's one of the guilty ones who created the ponzi debts and hid them off the books. £16 trillion not accounted for
I've never voted Tory... Nor will I in a million years! But I've always had a deep respect for some of these Old Skool Tories, particularly characters like Kenneth Clarke and "Tarzan" (Michael Heseltine)... Hell! Even John Major has won my respect over time!
These individuals represent a style of cold, intellectual politics, that is simply sorely missing these days. And in today's toxic climate of extremes, and feelings over common-sense,, they have in fact become level headed Moderates in all this noise! Happy to go against the unhinged elements in their own party, if it is in the best interests of the country!
So yeah... If he's worried... Then so am I!
@@sdwone Well written, I have the same sentiment…
Nobody gets just how utterly f****d Britain's economy really is. It's why Starmer and Reeves, even though they're going to inevitably win, are being so tight on spending commitments too. Look up the OBR's "Fiscal risks and sustainability - July 2023', should be first result on Google. Just one passage from Chapter 3 of 5: "4.16 The swapping of longer maturity gilts for floating rate central bank reserves has rendered the net liabilities of the public sector as a whole (consolidating all government debt and the Bank of England’s Asset Purchase Facility (APF)) much more sensitive to changes in conventional interest rates.[113] As a result, interest rate changes propagate through to overall debt interest costs much faster than in previous decades. This is shown in the right panel of Chart 4.6, with the impact of a 1 percentage point rise in interest rates within one year increasing by around six-fold from a less than 0.1 per cent of GDP hit to net interest costs at the beginning of the century to about a 0.5 per cent of GDP hit by 2022."
If I was Starmer or anyone in his top team I'd be *shitting myself*. If I were the Tories, I'd be begging Rishi for a general election to just let another party have to try and figure this out.
AGREE
I didn’t have a huge amount of respect for him but what little there was has just evaporated!
Years ago i trusted and had respect fot the leaders and the Police. FF to today. Zero respect for either, just contempt, beginning of detesting both lots.
I didn't mind him that much, not sure why they are wheeling him out now tho.
@@spacechannelfiver because he was literally the last Tory still in politics that anyone had any respect for. Until now.
His point is correct, there’s no easy way out of the current situation.
RAAC has been around since the 1930s it was used throughout Europe, having been invented in Sweden. Every government on the planet knew it had a limited life span. The main issue with it is its use combined with flat roofs as found in school and hospital buildings constructed in the 50s 60s 70s..and the bigger problem no-one is mentioning is that in order to rectify the issue someone is going to have to rip out the roofs on these old buildings.....and find a ton of asbestos waiting for them.
Sorry ken they did know more than three weeks ago that building were unsafe,, it was reported in the news months ago.
I’m very worried that Ken always gets fuelled up in Dublin Airport
Protectionism we imposed protectionism on ourselves by leaving the EU.
Is the practical reason we are scared to tax the very wealthy because we know many of them will just transfer their nationality to some corrupt tax haven and so end up paying even less tax?
So are we going to eventually need an international minimum wealth tax in the way that we are setting up an international minimum corporation tax?
I'm guessing this wasn't a problem before the Breton Woods banking system was deregulated? If the UK were to jump ship and get behind BRICS I'm sure we would get favourable terms but without wanting to sound crazy I believe our perceived international policy making through democracy is all but a show of admin.......
Don't even need to do that-Connery didn't in the 70s,nor Jagger or Hamilton more recently....
Talking about skills but tuition fees and student debt through the roof
My son is 19 and has disabilities. He was due to sign up for a college course to do next level this year, but when he tried to enrol he was turned away - they said the funding for over 18's on the course has been withdrawn! Disgusted and gutted for him 😐
The RAAC issue did not “come out of the blue” Lord Clarke but was actually known about since 2018 at least. The Labour Party had put a rebuild plan in place but this was cancelled by the Tories as soon as they could
Why is Sophie Ridge interrupting her interlocutor all the time ? It doesn’t help clarity
Ken come on.......at the very least it's been a serious issue for two years. The school repairs program has been cut and cut again against the advice of the civil service.
Given he was part of the problem in Cameron's day, first remove the log in your own eye.
No he was brought in to ease the older people that thought Cameron needed better financial minds. He spent most of the time nodding off in commons. He really wasnt part of anything then. He good free flowing being honest, no bs.
Clueless Ken, bless him.
and the funny thing is Mr. Clarke.....knew what the opposition MP would say and rebutted it prior to her even saying it.....
Responsibility lies with the Conservative Party and their enablers in the media
Yer, that is why they always blame someone else for their own lies.
They all have a - Not ME Gov culture about them whereby The Taxpayer always ends up paying for their mistakes.
Himself and Major, both sound rational reasoned thinkers.
I imagine the Milk Snatcher is turning in her grave with the state of UK politics.
Why would Thatcher The "Handbag" now be turning in her grave, since SHE was the one who started the decine of The UK.
I wish interviewers would stop insisting they cram in all their listed questions at the expense of allowing the interviewee to say their piece😡
How do I cut 45° corners on beading?
By dissecting 90 degrees 😂😂😂
Is there a problem with his shirt and tie ??
Tories /sigh "not our fault" it was the other guy. They should all be in jail for mismanagement and theft.
Some question where responsibility lies ?
13 years of Tory Rule.
Where else ?
When was it the last time either any Labour or Conservative Politicians were made to PAY for the mistakes they made while being it Government.
If anyone else in any other REAL Job in life were to fail-up as much as Politicians daily now do then those people would me immediately sacked.
The Liberal Democrats were part of the government that implemented austerity 2010-2015. It was the Lanour party that left the public finances in a mess
I'm sorry to disappoint but we haven't got a Labour Party it's pretty much identical to the Conservative party! We had a crack at social democracy with some Keynesianism with Mr Corbyn but unfortunately the establishment used every trick to undermine him.
If this is the future then we need a different system
We need honest money not fiat currencies mouse click money
I had glimpses of a Sith Emperor during that.....
We never recovered from 2008
for a start help me by explaining (quantitative adjustment) i do not know what is meant by this
Thanks for posting.
The Tories ruined the country.
He might worry about the economy but Im sure he doesn’t give a flying duck about how well off people are.
Exactly.
Will Ken have to cut down on cigars? My heart aches for him!
I think he still loves his claret.
I don't believe there is ever enough quantitative easing. maybe after market caps. if talking about the same things.
So this issue came "out of the blue" - so the fact a school roof collapsed in 2018 and some hospitals have been propped up by scaffolding for years were nothing to worry about? I couldn't watch anymore of this interview after those opening comments. In 2010 the Conservatives scrapped Labour's Schools Rebuilding Plan - and more recently Sunak slashed the budget for rebuilding schools from an advised minimum to 200 to 50 per year, repeatedly stating 500 schools in 10 years: scheme running 2 years and only 4 schools rebuilt. Shocking.
I loved the way Lord Clarke bats the lightweight Sophie Ridge away by saying, 'It's the cussedness of fate'.
He’s like an upper class Eminem lol 😂
@@urban.uk.official. Yes, The usual suspects have all the tools necessary under their control to fudge their way through any argument or inquisition …. The Average interviewing “ Joe” Doesn’t stand a chance at breaking through the well rehearsed
Answers …. Just my opinion, They must have a book of answers to every question, at their disposal …
Beats Clown Corbyn any day, my word I hated that hissing old fossil.
loved how he evaded questions and lied?
@@kanedNunable what did he lie about?
[01:42] Well kind of. They sort of vaguely repeated that it would be an issue like the huge number of other issues were now facing, but nobody really got excited about how bad it was all going to be.
My man. Labour had a rebuilding programme. Tories scrapped it
What money would they have used, their rich tax which they just recently dumped won't even cover the 2024 deficit.
Also they spent every penny the country had in 2008.
My wife is a teacher at one of the schools that has closed. She was told years ago that the building wasn't safe, but they just have to get on with it. This idea that the experts changed there minds is laughable. Sorry but anyone believing that deserves a few tones of concrete to fall on them.
Harriet Harman's facial expressions in this says it all. (Correctly).
Austerity didn’t have to happen. No other country did it.
It never happened. The last time the UK government spent less than it raised in taxes was 2000/2001
Jurassic Clarke
Looking good for 83... got all his marbles.
Offensive to dinosaurs, they knew when their time was up.
Looks like he’s been drinking
Or about to go for a drink.
@@VincentRE79 None of the above. He has never been that bothered about what he wears and I once seen him (years ago) wearing a shirt with a collar that was seriously frayed. A man after my heart!
@michaelkenny8540 I once saw him walking through Nottingham city centre late one Saturday night looking a little tipsy. We claim we want our politicians to be relatable and then complain when they behave like the rest of us. Likes a cigar and a whisky, supports his local football team, doesn't seem particularly vain. One of the more likeable Tories.
@@jasongray4517 He always wanted to give the impression he was a normal guy but really he was not.
No point in having skills training when all companies are racing against each other to offshore all UK jobs to cheap labour countries like Poland and India. The offshoring of UK jobs MUST END!
the most honest interview Ive heard from a politician in a long time
Because he is no longer a MP.
No it's not. Ken Clarke, is brilliant at sounding truthful and honest, it's just his accent but what he's saying here is pure Tory spin, he's straight up lying all the way through.
For example, when he says Labour would have had to cut budgets in the same way the Conservatives did... that's him pushing home the Tory spin. Labour wanted to invest their way out of the financial crisis, the Tories wanted to cut their way out. The Conservative cuts achieved nothing but destroyed the fabric of our country and now some of our schools are falling down as a result of cuts to programs like the school rebuilding program.
@@VincentRE79😂
Lying about the issue of RAAC not known until the last couple of years.???
Oh well, once a tory always a tory, nothing matters except how much money they can save from the economy in order that they can keep for themselves more of what they consider is rightly their share.
Anyone would think the Tories don't really care about state schools and NHS buildings. Since they never use such things themselves, I suppose it's possible they just sort of 'forgot' about them.
He's basically saying that we should increase the supply of skilled labour, therefore dropping the price of labour (since supply goes up), so that foreign investors can come and save us with their money. Genius.... Here's what's easy to understand: Capital investment magnifies productivity. Things like keeping schools sound, is capital investment. As it train lines, good roads, energy and everything else. Tax wealth; that will drive the pound downwards, which will encourage trade exports, and improve demand for production here. Spend the money on investment.
The chickens have come home to roost. We’ve been heading in this direction for 50 years; everything in this country is for sale. We chose Brexit over free trade; austerity over investment; finance over industry.
When a seasoned retired politician of Clarkes pedigree who has nothing to lose or gain from what he now does says things it is time to take notice.
I remember very well UK representatives in international organizations claiming they were good at spending public money while what they were doing is not invest in future
I do think with proper inspection and maintenance programme and phased renewal much which sat with local authorities. Essy to forget the cost of Covid. Investment in skills, jobs and Investment in industry is key. Difficult times indeed.
Just think if they had stopped building the HS2 vanity project and spent it on schools and hospitals.
HS2 is actually a good idea, infrastructure projects almost always pay for themselves.
How I wish Sophy Ridge would _stop interrupting!_ Ken Clarke was struggling from her chipping in all the time, so it was a miracle he got a word in edgeways. 😆
Presumably the experts always wanted a plan to replace it/eventually/ common sense
Someone somewhere must have realised that schools required investment as Labour was going to put up £57Bn to into schools back in 2008/2010. Tories then cancelled it!
Poor old Ken looks like he has just been dug up (or straight from the pub!)
It called the weathered look
Not been himself since lousing his wife.👻
He always looked a bit shabby round the edges. His wife kept him reasonably presentable but now he is on his own. Does not matter at all to what he says.
I call it the Oliver Reed look 😂
Bankers, Ceo’s, MP’s , all other in same line should be paid minimum wage like careers, cleaners, shop assistant and others
Interesting to hear K Clarke but so annoying that Sophy Ridge kept trying to hurry along the interview and interrupt. It's such hard work for viewers. Make interviews more relaxing to watch pls
Anyone who supports quantitative easing has probably profited massively because of it and is not trust worthy.
I like Ken Clarke, as Tories go, but he's talking out of his backside here. Experts have been warning about RAAC for decades, and prior to construction they were clear that the buildings had a definite "shelf life" and would have to be upgraded or replaced in a 30-year timeframe. Successive governments have simply kept kicking the can down the road and leaving the problem for somebody else to fix. Western economies are changing because we have an ageing population and low wages. We need to start talking seriously about wealth taxes.
blimey hes rivalling boris for scruffy cant he tie his tie even
He's 83 years old. He's doing pretty well I think. Tying his tie properly is probably well down on his list of priorities.
The government were highly selective about which expert advice thay actually listened to. Usually the advice with the cheapest outcome at that time.
Ken doing a good Harry Enfield impression there
So are we all worried, Mr Clarke. Neither the Bank of England nor Mr Sunak or Jeremy Hunt seem to have the foggiest idea how to bring inflation under control. They seem to suck a finger, stick it in the air and see which way the wind is blowing. I am one of millions if not zillions facing the following, or similar. A year ago my mortgage was £119 pm, today £450 plus. With an income of the OAP and a few bits...under £10,000 pa...what's to do?
I’ve seen this coming but what helped me was I moved to another country years ago and come back each year to see family. UK is becoming Greece basically. Basket case economy circling the sink drain. And the culture has been over taken by left wing supremacists and mass illegal immigration. I’ve been mourning my country for years. Heartbroken.
Spot on, same here. Moved to Australia and everytime I go back it’s worse than before. Even when the country was in the EU. It’s simply because the uk lacks a competent government. They’ve sold the country out to privatisation and the rich. And no wrong on the immigration. Everything is wrong within the uk. It’s as if the government don’t care for the country and it’s people and have allowed it to sink
Chicken licken warned about the sky falling in way, way back...
Clarke is dishonestly playing down the consequences of austerity.
What could posibally go wrong !
He's absolutely spot on regarding the BOE's lack of action when it was needed. Bailey talks about hindsight yet he and the MPC, so called experts, are so reactive instead of seeing what so many people could see at the time.
I'm not convinced interest rates it's that effective at tackling inflation especially when the majority of that inflation is imported from energy and food.
They are half way there to fixing inflation just enact a wage, price freeze! Obviously wages are already frozen anyway so why don't they freeze prices🤔 Perhaps they are protecting their wealthy friends🎉 at the expense of the pound in your pocket 🎁
What happened his tie
Lovely, Ken. What has your voting record been during Austerity?
Why it was not much better when he was in power !
Mr Clarke is being economical with the truth. May one day the country will have a ministry of truth
Wasn't Clarke the man who cheered on a failed Neo-liberal model and also ushered in privatisation in social care?
Whos health care reforms loved the standard of care in the NHS and revoked within a couple of years
Labour followed him did further on privatisation. I think it's a general problem of NHS spending getting bigger and bigger, they (whatever conservatives or labour) need to deal with it.
@@hktk5 And yet falling as a percentage of GDP. And hugely less once the Tories came to power. Look at the graphs over time.
@@Alexpage1111The Conservatives had been trying to loosen the wheel nuts from the Nhs right from the very start.... The 80s allowed them free reign
@@hktk5This notion that Nhs spending will always be increasing but is only happening because the direction Nhs was pushed ie PFI whereby money had been purposely held back for building maintenance then Blair implimented John Majors PFI that basicly handed Hospitals over to private companies who would renew buildings and would then become landlords renting buildings back to the Nhs obviously renting is dead money. Also there were many cutbacks to social services that became the Nhs burden and much much more.... The Nhs was efficient, pretty much self contained now there's profiteering at every level.
Ken is misinformed. This didn't just become a problem in the last three weeks, this has been swept under the carpet for years.
I think he is a bit chipper because of Forest's recent decent form.
However he is a Tory .
We need to find more Indias . We lost 4% of Gdp because of Brexit. One India deal is worth 0.5 - 2% increase depending whether we give visas or not.
He didn't appear to worry so much when he was in governments
Bring back Ken to sort out the Tory headbangers !
I thought he was crap as chancellor
Let the guest speak ! Don’t interrupt !