IMF openly criticises UK government tax plans as pound plummets - BBC News

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  • Опубликовано: 27 сен 2022
  • The International Monetary Fund (IMF) has openly criticised the UK government over its plan for tax cuts, warning that the measures are likely to fuel the cost-of-living crisis.
    In an unusually outspoken statement, the IMF said the proposal was likely to increase inequality and add to pressures pushing up prices.
    Markets have already raised alarm over the plans, sending the pound plunging.
    Please subscribe HERE bit.ly/1rbfUog
    #Economics #Pound #BBCNews

Комментарии • 1,1 тыс.

  • @joefreeman3772
    @joefreeman3772 Год назад +62

    You know you're bad when the IMF criticizes you for "increasing inequality"

    • @ssuwandi3240
      @ssuwandi3240 Год назад +1

      Well she's part of WEF.. but Sweden Italy and Hungary will escape..

    • @lestrem11
      @lestrem11 Год назад

      TheIMF have never even ‘right’ on anything. Keep up.

  • @sammy-the-crab4107
    @sammy-the-crab4107 Год назад +189

    I've never seen a government fail this badly so quickly, it must be a record

    • @maywalker997
      @maywalker997 Год назад +11

      The bigger problem is that we might not recover from this even after the Tories have been ousted.

    • @a_nayak
      @a_nayak Год назад

      IMF and World Bank give us AID from the funds collected from countries who loot us for 200 years. I mean You colonizers give loan( which is our money for interest.)
      India was 1/4th of world economy. Titanic movie shows how British, Portuguese and French migrated to USA with the unthinkable amout of money and gold that they looted from mostly India and Africa.

  • @djsmithe
    @djsmithe Год назад +223

    A government borrowing money and giving it to millionaires and billionaires is a bad thing?
    Who would have thought?

    • @CrowTails88
      @CrowTails88 Год назад

      Remember the statement::: you will own nothing & B happi ,,, it’s still a Re::::Set just different puppets in charge ,, 💰💰💰 is going , getting replaced by digital 💰💰💰 every action these puppets do will have a greater reaction like when the 🏦🏦🏦 go 💥💥💥

    • @Battleneter
      @Battleneter Год назад +4

      The UK government is not really "borrowing money" the UK Reserve Bank is printing even more money ( in the 10's of billions) and so called buying government bonds, there is no real borrowing involved, its the UK lending money to the UK. Of course this excessive money printing devalues the pound even further and pushes up inflation which is "effectively" a additional tax.

    • @beewhy001
      @beewhy001 Год назад +6

      That's exactly what Nigeria did. Who would have thought UK is the same 🤣

    • @julien1
      @julien1 Год назад

      @@Battleneter With everything privatised any 'new' money just ends up in shareholders pockets.

    • @Mizzkan
      @Mizzkan Год назад

      @@beewhy001 But Nigeria is awful ….

  • @MashoodSabir
    @MashoodSabir Год назад +210

    This is the first time I have seen that the IMF has openly criticized a g7 country's economic policy.

    • @freddiestranger9783
      @freddiestranger9783 Год назад +2

      OKAY GIVE YOUR LIFE TO THE LORD JESUS CHRIST

    • @thomasparkin259
      @thomasparkin259 Год назад +13

      To be fair I'm not sure many G7 nations have responded to an economic crisis after 12 years of tax and public spending cuts with wildly wealthy favouring tax cuts and taking loans.
      Generally loans are fine if used to fuel growth.
      However this isn't creating infrastructure, this is just hoping rich people will invest money.

    • @robertosborne7542
      @robertosborne7542 Год назад +2

      @@freddiestranger9783 Wrong comment section-sky fairies elsewhere.Btw there is no god,just so you know.

    • @MrPikkoz
      @MrPikkoz Год назад +2

      @@thomasparkin259 "However this isn't creating infrastructure, this is just hoping rich people will invest money" agreed and the latter part is even more shake than in the past as especially looking at the reality of brexit and teleworking.

    • @MashoodSabir
      @MashoodSabir Год назад

      @@MrPikkoz I'm sure uk will bounce back, they are a very strong economy :D and one of the strongest in the world. I just think this was really unexpected and a massive drop in the value of the pound in such a short time,

  • @EliF-ge5bu
    @EliF-ge5bu Год назад +180

    Well Truss and Kwarteng certainly earned their place in history. Historians and economists will be talking about this disaster for centuries to come.

    • @davidcedric7424
      @davidcedric7424 Год назад

      Hello Eli. How are you doing ??!

    • @gr8macaw1
      @gr8macaw1 Год назад

      I dont understand their plan. The Sky news UK is streamed here in the US. This hair brained policy is what the US has been doing out here for decades. The rich pay no taxes trillions were given out to fraudulent corporations. We have huge amounts of homeless people sleeping in tents. The government has borrowed so much money we are about to crash. This is just a ploy to cut medicare, social services etc., then they think they can cut all benefits to the poor heavens help us out here if those corrupt politicians the republican, the tory party to you. Yes their plan is a nightmare and yes Liz it has been tried before.

    • @dragon.fromindia3235
      @dragon.fromindia3235 Год назад +1

      Europe should go for their own digital currency...And save paper

    • @dragon.fromindia3235
      @dragon.fromindia3235 Год назад

      Give away dollars and take it back gold and silver...

    • @CrowTails88
      @CrowTails88 Год назад

      How the 🐑 forget the statement::: you will own nothing & B happi ,, it’s all part of plan to implement the digital 💰💰💰 but 1st every action needs a reaction,,,, 💥🏦💥🏦💥🏦💥 we will all live in a technological prison but keep arguing amongst yourselves 🤣🤣🤣🐑🐑🐑

  • @gdewyg
    @gdewyg Год назад +306

    Uk is not suffering from economic crisis but leadership crisis

    • @notjustforhackers4252
      @notjustforhackers4252 Год назад +12

      Indeed. Tory and Labour entrapment. Vote 'em out, all of 'em.

    • @Sam-rb1sj
      @Sam-rb1sj Год назад

      I’m £10k richer thanks to this government. I think they are doing a great job! Next we need to cut benefits and close the border to asylum seekers.

    • @shootimblue
      @shootimblue Год назад +3

      They don't have a clue this country is crumbling to be honest

    • @edwardbrady5843
      @edwardbrady5843 Год назад

      You better believe its an economic crisis caused by brexit and made worse by this idiot boy of a Chancellor.

    • @MrJenklns
      @MrJenklns Год назад +2

      Tell us news not history

  • @thesunshinehome
    @thesunshinehome Год назад +198

    she's only been prime minister for about 2 weeks and she's already ballsed up the entire economy lol

    • @khanhcao3123
      @khanhcao3123 Год назад

      She is a plant, nothing will change

    • @justsayen2024
      @justsayen2024 Год назад +15

      Closer to one week when you consider the Queen's funeral.

    • @MrJenklns
      @MrJenklns Год назад

      Even the Nazi luftwaffe failed to do that with constant air raids over the UK for years 🤔

    • @DioBrando1996v
      @DioBrando1996v Год назад

      She did more damage in a few weeks than what Boris Johnson had done in his 3 year term as prime minister. Which is saying a lot since Boris johnson is one worst prime minister's this country has ever seen.

    • @marktn9851
      @marktn9851 Год назад +1

      Is she that good!

  • @BTG07
    @BTG07 Год назад +208

    Well that confirms it, Liz Truss went to Erdogan school of economics. What genius we have in the government right now.

    • @JockelBacke
      @JockelBacke Год назад +17

      she rather studied in greece where the whole country ran bankrupt

    • @Sandy-qs5og
      @Sandy-qs5og Год назад +2

      Exactly 😅

    • @MrJenklns
      @MrJenklns Год назад

      She is a renagade ship jumping Libdem remainder

    • @bbcisaids6727
      @bbcisaids6727 Год назад +1

      The euro has tanked,as has the dollar! This is a global recession started by... biden ,the cost of lockdowns

    • @DioBrando1996v
      @DioBrando1996v Год назад +28

      Sad thing is Rishi said it to her multiple times during the debates about her ridiculous her policies were and she never listened

  • @FAVanguard
    @FAVanguard Год назад +280

    For the IMF to break their silence and comment on a G7 country's economic policy says a lot about the incompetence of the Torys, Any economics student could've told them not to do this in an inflationary period.

    • @jasonkingshott2971
      @jasonkingshott2971 Год назад +1

      ....'Tories'.

    • @piccalillipit9211
      @piccalillipit9211 Год назад

      Apparently, it was starting to infect American financial institutions

    • @bbcisaids6727
      @bbcisaids6727 Год назад

      You mean globalists, like schwab, eu, biden,

    • @JamesSmith-qs4hx
      @JamesSmith-qs4hx Год назад

      It's like watching the bell curve in action in real time, isn't it!

    • @adamkaan8025
      @adamkaan8025 Год назад +1

      These absurd decisions are being made in many countries. This economic enivironment is worldwide. It seems as though its a plan to destroy the world economy and create a one world government, digital currency by coinciding it with ww3. The average Joe will not care about money they will just be happy to be alive, as in the very few that will be still alive.

  • @ageoflove1980
    @ageoflove1980 Год назад +116

    I get it... The only way to let Boris Johnson go in to the history books as a decent bloke is to literally destroy the country right after he left.

  • @sunnyvalentino
    @sunnyvalentino Год назад +49

    Love or hate Rishi, he was a competent Chancellor and was brutally honest with the public about what he would do, mocked for being "too smart", "elitist" etc. As if MOST of the prior British PMs did not have elitist background and qualifications, competence and intelligence is actually a bad thing.
    This was a totally avoidable catastrophe, and we reap what we sowed now.

    • @musicmusic6595
      @musicmusic6595 Год назад +12

      I liked rishi a lot he had good explanations on the economy which we badly needed now and he has experience. No idea how truss got through

    • @poonholder5643
      @poonholder5643 Год назад

      @@a.j.atkinsonart1082 ppl are retarded

    • @vrutantshah7218
      @vrutantshah7218 Год назад +1

      @@musicmusic6595 Because people fail to understand that mind is superior to body and the skin color.

    • @Jaylio
      @Jaylio Год назад +10

      Of course the torys wouldn’t vote for Rishi hes brown bc of their racism they will now have to deal with Liz setting the bar to an all new low 😂

    • @sugarly69
      @sugarly69 Год назад

      Just like Johnson Before you, just like Brexit before you.

  • @luciferx829
    @luciferx829 Год назад +10

    Man ,Rishi Sunak's statement happened 🤯🤯😱

  • @jeremysmith8035
    @jeremysmith8035 Год назад +65

    youve got to be good when your economic policy is rejected by the banks the international monetary fund and the United States on the same day, might be why lizzy is hiding 🤔

    • @freddiestranger9783
      @freddiestranger9783 Год назад +1

      HMM GIVE YOUR LIFE TO THE LORD JESUS CHRIST NOW

    • @dune6727
      @dune6727 Год назад

      Thin Lizzy

    • @freddiestranger9783
      @freddiestranger9783 Год назад

      @@razzspice INDEED NOW GIVE YOUR LIFE TO THE LORD JESUS CHRIST TODAY 🙏

    • @freddiestranger9783
      @freddiestranger9783 Год назад

      GIVE YOUR LIFE TO THE LORD 🙏 JESUS CHRIST TODAY 🙏

    • @poonholder5643
      @poonholder5643 Год назад

      Do you route for the IMF, sleepy Joe and "the bankers" then? Funny old times we are in!

  • @pauljansen1137
    @pauljansen1137 Год назад +61

    I guess I will be shopping in England very soon😀!

    • @stevexnycautomotive
      @stevexnycautomotive Год назад +8

      99 cent store own by Allah

    • @LuchadorMasque
      @LuchadorMasque Год назад

      You'll have to be because they won't be shipping anything my way any time soon. Fiat money is stupid

    • @chucknorris7480
      @chucknorris7480 Год назад +1

      Shop in Japan

    • @tropics8407
      @tropics8407 Год назад +1

      That is the exact idea

    • @batthink2338
      @batthink2338 Год назад

      Here is the truth about Kier Starmer
      It’s not what the public thinks..
      ruclips.net/video/FfTuwvqCk6s/видео.html

  • @biswaroopmaiti2943
    @biswaroopmaiti2943 Год назад +165

    If you appoint a historian of economics to run your economy your economy will be history.

    • @ahmedabdi9950
      @ahmedabdi9950 Год назад +4

      He is a poet

    • @freddiestranger9783
      @freddiestranger9783 Год назад +2

      GIVE YOUR LIFE TO THE LORD JESUS CHRIST NOW AND TODAY

    • @editor4578
      @editor4578 Год назад +15

      @@freddiestranger9783 cringe

    • @jhunpalz06
      @jhunpalz06 Год назад +9

      Honestly I expect as a historian he should have known better.

    • @akhanddbangladesh8274
      @akhanddbangladesh8274 Год назад

      Put another lndian as Chancellor of the Exchequer ..seems like whatever lndian touches turns into ashes. ... google, Microsoft everything is loosing money. ... USA let 30 million lndians to be naturalized citizens of the USA in last 25 years .. now USA is bankrupt.😅😅

  • @za.307
    @za.307 Год назад +38

    Whatever libertarian think tank advisers are pulling Truss's strings, Starmer needs send them a big thank you note. One thumbs to the already rich, a middle finger to anybody working class. Yet, there will still be Tories (all be it really deluded one's) saying this will help the poor, and handing money to those already earning upto 6 times the national average will also help them. Hating and not caring about the poor isn't a bug of being a Tory, its a flippin' feature.

    • @horatio59
      @horatio59 Год назад

      do you really think it would have been any better under a Blairite creature ? All these Mafiosi Globalist criminals are cut from the same cloth,they just have a different script.Its time to consign them all to the bowels of history and build a news a new system based on real money and honesty

  • @matsmithlondon1123
    @matsmithlondon1123 Год назад +75

    We'll see a massive amount of defaults on mortgage payments over the next year as well as rising income inequality. People won't be able to afford rent, food, essential medication and the number of working poor will increase since wages will not be able to keep up with inflation. An increasing proportion of people will fall below the poverty line. I'm honestly shocked the UK government doesn't have a clue about macroeconomics and its societal impact.
    Imagine you see a poor person on the street and instead of giving the money to the person in need, you're instead giving it to the rich person living in a mansion with an offshore account in Bermuda. Trickle-down economics does not work.

    • @magesalmanac6424
      @magesalmanac6424 Год назад +6

      Trickle down economics doesn’t work! Preach it louder, it’s been decades and some people still haven’t learned this.

    • @MrJenklns
      @MrJenklns Год назад

      @David Pitman my flight is booked to the ☀️ in Jan 👈

    • @MrJenklns
      @MrJenklns Год назад +5

      @@magesalmanac6424 trickle down...the biggest load of
      Bull-💩

    • @nineteen8026
      @nineteen8026 Год назад

      Trickle down can work - but it takes 5 years to come through- too late for many, who will lose their Houses, Credit Cards, Pensions.

    • @freddiestranger9783
      @freddiestranger9783 Год назад +1

      ALRIGHT GIVE YOUR LIFE TO THE LORD JESUS CHRIST NOW

  • @PrivateVoid1
    @PrivateVoid1 Год назад +62

    Well Trussonomics is getting off to a great start I must say. Who knew that borrowing eye-wateringly huge sums of money to spend on tax cuts for the super rich might not be viewed as a genius move. Good job Liz.

    • @marjiyaahmed4497
      @marjiyaahmed4497 Год назад +5

      @Travel Crawl they did elect a woman. What's your point?

    • @damianeadie510
      @damianeadie510 Год назад +3

      I'm going to apply Trussonimics in my own life and I'm prepared to be unpopular. I would love a new car, so I'm going to crash my current car into a shopping mall and set fire to it, then go round with a cap asking onlookers if they have any change. Of course I will tell them it will be British made too!! Wish me luck guys!

    • @gr8macaw1
      @gr8macaw1 Год назад

      Reagan started a plan just like this in the US. We had a riot on the capital building. Now they are going to crash the economy so they can have us all starve, groceries are so expensive. Then they will move to eradicate our only socialized healthcare which is medicare for elderly people. Lately I have read on the propergander channels they are saying the NHS is becoming unworkable safeguard your NHS because old Liz and the other guy have already planned it out.

    • @turukaath5170
      @turukaath5170 Год назад +3

      @Travel Crawl oh ffs, even in an economic crisis, your reasoning is sexism and not incompetence

    • @stevec6427
      @stevec6427 Год назад +1

      I'm going to apply the same theory to my business. If I borrow from the bank, I can use that money to cut prices for my customers. It's a bold move, lets see if it pays off

  • @BB-jf9yr
    @BB-jf9yr Год назад +68

    Rishi sunak was right 👍👍👍👍

  • @jondonnelly4831
    @jondonnelly4831 Год назад +32

    This strategy is amazing for manufacturers that export, if only we had some.

    • @jondonnelly4831
      @jondonnelly4831 Год назад +6

      Or that big market next door, we left. Or that one across the Pacific which Truss can't get on with.

    • @freddiestranger9783
      @freddiestranger9783 Год назад

      HMM GIVE YOUR LIFE TO THE LORD JESUS CHRIST NOW

    • @jimstirling8120
      @jimstirling8120 Год назад

      We export 770 billion dollars worth a year and we are the 5th biggest exporting country in the world.
      Profiles of the world's largest exporters
      1.China. Aside from the European Union (which is a collective of many countries), China is the world's largest exporter. ...
      2.United States. The U.S. is the second-largest exporter in the world, with an estimated $2.12 trillion in exports for 2020. ...
      3.Germany. ...
      4.Japan. ...
      5.United Kingdom.

    • @jondonnelly4831
      @jondonnelly4831 Год назад +2

      @@jimstirling8120 according to Statista we are 14th, behind Belgium and Mexico and slighly above SINGAPORE.

    • @jam6636
      @jam6636 Год назад

      @@jimstirling8120 you meant 15th...

  • @MrLegendra
    @MrLegendra Год назад +10

    Should’ve elected Sunak…not a fan of all his policies but his economic policies were sound.

    • @alastairwallace6153
      @alastairwallace6153 Год назад

      All tories are crap, they are the sole reason the uk is in the shitter. All are completely and on purpose incompetent it seems to fill the richest pockets.

  • @thesunshinehome
    @thesunshinehome Год назад +32

    Worst start of prime minister's rein ever

  • @spaceshuttledoorgunner125
    @spaceshuttledoorgunner125 Год назад +16

    Few times I watched Truss' speeches, media talks, Q&A's, my impression was that she didn't seem so cultured, bright, intelligent, worldly, experienced and downright untrustworthy. And her facial expressions... Just imagine her pushing the UK nukes button.

  • @carlosgd8903
    @carlosgd8903 Год назад +23

    Bring Rishi back. He predicted this and wanted to avoid this

    • @stevec6427
      @stevec6427 Год назад +3

      Get rid of the lot of them

    • @TG-ts3xn
      @TG-ts3xn Год назад

      He helped cause this!
      We need a Patriotic Party…

  • @ultrapiscine
    @ultrapiscine Год назад +13

    I thought I was bad with money but holy crap this is another level.

  • @dilatedbeholder3865
    @dilatedbeholder3865 Год назад +9

    At this point Starmer just has to stay at home and he will still win the general election

  • @FleX_94
    @FleX_94 Год назад +10

    If the IMF have crawled out from under their rock to say this then we're well and truly fucked 🤣

    • @poonholder5643
      @poonholder5643 Год назад

      No they have crawled from under their rock because Kwarteng and truss just threw a fork in the works of the WEF and the NWO!

    • @Jaylio
      @Jaylio Год назад

      We’ll probably need a bailout at this rate

  • @DD-sr9xm
    @DD-sr9xm Год назад +32

    The IMF doesn’t want to have to bail out the UK again. In 1976 the UK was so desperate they borrowed $4 bio for the IMF. The US and EU together provide over half of IMF funding, both are fed up with UK pettiness and bad behaviour.

    • @freddiestranger9783
      @freddiestranger9783 Год назад

      OK GIVE YOUR LIFE TO THE LORD JESUS CHRIST NOW

    • @terrack3005
      @terrack3005 Год назад

      @@freddiestranger9783 Give over you brain washed fool...smh

    • @stevec6427
      @stevec6427 Год назад +5

      @@freddiestranger9783 No, I gave it to Satan

    • @inigobantok1579
      @inigobantok1579 Год назад

      America wouldn't rescue these in a foreign net capital inflow, they have other matters in their country.

    • @slimy6316
      @slimy6316 Год назад

      Tbf that was almost 50 years ago. I doubt they have that in the back of their minds

  • @michaelketley876
    @michaelketley876 Год назад +14

    Basically, experts are telling Truss and Kwarteng that they have behaved like idiots.

    • @dfwdfw9544
      @dfwdfw9544 Год назад

      Indeed. I'm trying to remember the last time the IMF or another international economic organization had to publically shame a "first world" nation. It is tempting to joke about Britain finding itself in the position of its poorer former colonies, always in the line of fire of criticism and concern from leading international organizations. Jamaica's troubles with the IMF and World Bank come to mind.

    • @freddiestranger9783
      @freddiestranger9783 Год назад

      YES GIVE YOUR LIFE TO THE LORD JESUS CHRIST NOW

  • @widsof7862
    @widsof7862 Год назад +66

    this is what happens when ideologues ignore conditions when they push agendas or their beliefs and keep going even when the it worsens the situation, because they think they need to go further rather than reflect and adjust accordingly.

    • @tomjones8715
      @tomjones8715 Год назад +2

      What part of the budget is the issue?
      I mean forget the basic rate tax payer cut of 1 percent as Labour said they would have done the same…

    • @stevec6427
      @stevec6427 Год назад +5

      @@tomjones8715 Tax cuts with no method of funding them other than borrowing. Extremely irresponsible and something governments never do because it's stupid. It would be like a business taking out a loan to be able to cut prices on the goods they sell

    • @tomjones8715
      @tomjones8715 Год назад

      @@stevec6427 I agree…I’m more going after the attack on the Tory’s when the Labour plan on tax cuts was only 2 billion different..,Labour said they’d lower basic rate income tax as well.
      The biggest issue is the dollar system. Until that changes we are slaves to Washington. The best move would be to change our mortgage system and push 30 year mortgages as they have in the states. Protecting home owners from stupidity of government …

    • @dragon.fromindia3235
      @dragon.fromindia3235 Год назад

      Europe should go for their own digital currency...And save paper

    • @dragon.fromindia3235
      @dragon.fromindia3235 Год назад

      Give away dollars and take it back gold and silver...

  • @parthasdasgupta
    @parthasdasgupta Год назад +5

    Mr Saunak is much more intelligent and educated than the present PM. But he was not chosen the reason known to everyone.

  • @ClementIV
    @ClementIV Год назад +12

    Bring Rushi back!!

    • @errgo2713
      @errgo2713 Год назад

      Bring the guillotine back

  • @roberttalbot6397
    @roberttalbot6397 Год назад +9

    near were I live, people actually stop cars on main rds/ junctions begging money with paper cups, old,young, one girl came into McDonald's asking for tea,she then stumbled out,next time I saw her she was sat on a Rd junction begging she was about early twenties,. this is the big divide between rich and poor in uk

    • @roberttalbot6397
      @roberttalbot6397 Год назад +2

      To beg on busy Rd junctions is dangerous in itself, car comes people could be killed doing this, what for I ask? Money? Sad

    • @magesalmanac6424
      @magesalmanac6424 Год назад +3

      Not trying to tease anyone, but it’s the most British thing I’ve heard in a while, that McDonald’s sells tea in Britain. As an American that is so cute ❤️ 🇬🇧

    • @diesel92kj1
      @diesel92kj1 Год назад +3

      Second highest “lowest tax bracket” in the word & some of the highest collective taxes in the world, we are all struggling because of the taxes we pay.
      What did the Government do when you took your car to be repaired to warrant adding a tax on you getting a car repaired.

    • @roberttalbot6397
      @roberttalbot6397 Год назад +1

      @@magesalmanac6424 and coffee, plus Costa,greegs,

    • @MrJenklns
      @MrJenklns Год назад

      @@magesalmanac6424 lizz Truss would like your comment 🆒

  • @MrAlen6e
    @MrAlen6e Год назад +5

    You know it's bad when the IMF criticized a G7 country on their economic policy.....

  • @markmeade2937
    @markmeade2937 Год назад +1

    The difference between people who know what they are doing , and box tickers .
    Two box tickers equals a shambles, a shameful shambles…..

  • @antonleimbach648
    @antonleimbach648 Год назад +2

    Great explanation of what’s happening. Thank you.

  • @Otto72ish
    @Otto72ish Год назад +10

    That bloke's analysis of why pension funds became forced sellers of bonds was flat wrong. It was a technical issue to do with their (ill-advised) positions in derivatives markets, and having to raise cash to provide collateral as derivative positions moved against them. It was nothing to do with having to sell the bonds themselves if they fall below a certain level. The Bank of England stepped in to prevent this becoming a vicious circle. Poor analysis by the BBC.

    • @embreis2257
      @embreis2257 Год назад

      most ludicrous was his analogy to the 1929 stock market crash

    • @tonysherwood9619
      @tonysherwood9619 Год назад

      Explain it away then wheelbarrow it away - had you signed for this monetary system?

  • @kikidevine694
    @kikidevine694 Год назад +4

    I'm not an economist, but won't tax cuts potentially lead to higher inflation?

  • @heredownunder
    @heredownunder Год назад +10

    I think even I know, giving tax cuts do not really stimulate the economy. In times of uncertainty, people tend to save, not spend.

  • @rayrowland3292
    @rayrowland3292 Год назад +1

    the box tickers never cease to mess it up.

  • @Ashura_Lex_Veda
    @Ashura_Lex_Veda Год назад +21

    didnt know the UK's economy was something that fell under the jurisdiction of the Impossible Mission Force

    • @soapmonkey6357
      @soapmonkey6357 Год назад +2

      @ellen reported for spam

    • @cash_eye
      @cash_eye Год назад

      I was thinking the same thing

    • @pplesandoranges
      @pplesandoranges Год назад

      Your economy, if you choose to crash it......

    • @airhab
      @airhab Год назад +5

      Its an Impossible Mission for any Force to fix what Liz has broken.

    • @71espn
      @71espn Год назад

      because britain will go begging to IMF

  • @justinauyeung1290
    @justinauyeung1290 Год назад +38

    When your economy runs on Russian dark money.

    • @Lommy9999
      @Lommy9999 Год назад

      And Chinese

    • @justinauyeung1290
      @justinauyeung1290 Год назад +11

      @@Lommy9999 Nah, the Chinese target 3rd world countries to own through defaulting on debt from infrastructure projects. England is too developed for their tastes. Most expensive real estate in London is owned by Russian oligarchs.

    • @freeassange5667
      @freeassange5667 Год назад

      Make peace with Russia perhaps

    • @DanafoxyVixen
      @DanafoxyVixen Год назад +2

      @@justinauyeung1290 The chinese has still a lot of money invested in the UK regardless

    • @freddiestranger9783
      @freddiestranger9783 Год назад

      OKAY GIVE YOUR LIFE TO THE LORD JESUS CHRIST NOW

  • @jakel8627
    @jakel8627 Год назад +5

    Just came out of Covid, then Brexit, then the war in Ukraine and subsequent sanctions on Russian oil and gas. Can't they just leave well enough alone? We don't need more risk and instability for Christ sake. Rishi Sunak should have the leadership race. This makes me so f'ing angry

  • @kupper123
    @kupper123 Год назад

    It doesn’t seem possible that a government could screw everything up this quickly.

  • @pkwong1940
    @pkwong1940 Год назад +9

    What an achievement for Liz Truss. Only 2 weeks as PM. I can't wait to see what will happen in 2 months time.

    • @Jaylio
      @Jaylio Год назад

      The UK is falling 😂 LOL

  • @vjab1108
    @vjab1108 Год назад +3

    People will not be able to pay the TV Tax, oh dear.

  • @Oldfogey2014
    @Oldfogey2014 Год назад +2

    Where’s Norman Lamont? I’m surprised you haven’t called him up for comment. He’s someone who knows what a real crisis is.

  • @charliebrandt2263
    @charliebrandt2263 Год назад +1

    Where is the vote of no confidence in the government today? Parliament is too cowardly to dump this shower of ideologues and amateurs...It's going to be a long winter.

    • @davidcedric7424
      @davidcedric7424 Год назад

      Hello 👋 Charlie. How are you doing ?? I think what you’re trying to say is absolutely correct 😊😊

  • @markdonovan1540
    @markdonovan1540 Год назад +14

    They'll print money, as always. Tories know this and have hedged their bets accordingly. Rinsing people's savings and livelihoods to fill the coffers of their offshore backers, where they also have their own personal investments, of course!

    • @freddiestranger9783
      @freddiestranger9783 Год назад +1

      ALRIGHT GIVE YOUR LIFE TO THE LORD JESUS CHRIST NOW

    • @blitz8702
      @blitz8702 Год назад

      yes manipulating and scheming how to get rich and profiteering from good honest workers and home owners.leech

    • @aditube8781
      @aditube8781 Год назад

      this is what happens wen country men give in to racism and jealousy

  • @Andrew-ob5ij
    @Andrew-ob5ij Год назад +7

    And people say the tories are the party that is the best at looking after the economy 😂

  • @aarononeal9830
    @aarononeal9830 Год назад +1

    The bbc needs to talk about Ecosia they are a search engine that plants trees

  • @flowerpower7288
    @flowerpower7288 Год назад +1

    Enough is enough!

  • @Keln02
    @Keln02 Год назад +8

    gj truss. making our life harder.

  • @paulcernava7091
    @paulcernava7091 Год назад +5

    If you cause financial pain to the middle class down you have the wealthy class happy to take advantage of the peasants and then control is so much easier....

  • @abhiramnimmagadda1557
    @abhiramnimmagadda1557 Год назад +1

    well duh!?

  • @b.nzie.2388
    @b.nzie.2388 Год назад

    Where is the PM???

  • @l.t.868
    @l.t.868 Год назад +22

    Brits have nobody to blame but themselves because they voted these politicians in.

    • @willbrown8568
      @willbrown8568 Год назад +13

      Thats the thing, we didnt vote for this goverment. 200,000 party members did

    • @w.kfontaine7084
      @w.kfontaine7084 Год назад +8

      You’re incorrect. Do better

    • @airhab
      @airhab Год назад +8

      No one voted for Liz.

    • @deborahfreedman333
      @deborahfreedman333 Год назад

      I'm an American, and yet, even I know that Truss was only elected by Conservative party bigwigs, not the British public. And, if Labour had not been headed, at the time of last elections, by a Marxist antisemite, the Conservatives might not have done so well. The Brits only have themselves to blame for Brexit, but not Truss. (OK, Norfolk has only themselves to blame, but not the rest of the UK.) BTW What do have against commas?

    • @darrinroberto9474
      @darrinroberto9474 Год назад

      Wrong....no one voted them in.. there cronies and benefactors did...

  • @leinad5243
    @leinad5243 Год назад +7

    What does THE uK export? Royal pottery plates?

  • @everTriumph
    @everTriumph Год назад

    Budgets which aren't budgets, wars that aren't wars. Soon have pounds that aren't pounds.

  • @piaxgft5799
    @piaxgft5799 Год назад

    best explanation i've seen.

  • @vikrantnalkur4422
    @vikrantnalkur4422 Год назад +8

    Rishi was right.

  • @richsees8988
    @richsees8988 Год назад +7

    The sane world looking out for the UK world of crazy

    • @hyndscs
      @hyndscs Год назад

      Makes a nice change from the USA no?

  • @melissaholt1211
    @melissaholt1211 Год назад +1

    Thanks 😊

    • @davidcedric7424
      @davidcedric7424 Год назад

      Hello Melissa. How are you doing?? 😊 you’re welcome

  • @thomascrowe3407
    @thomascrowe3407 Год назад

    No tax is maximum heart rated. For some people and holdings, governments should address these matters and how others such as developers take advantage of these culterally sensitive areas .

  • @paulowens4744
    @paulowens4744 Год назад +9

    Thank god someone with clout is saying something. Sadly I doubt it will help in time.

  • @seriousstuff8887
    @seriousstuff8887 Год назад +4

    The country is flip flopping its way to the flipping egde .. Flipping insanity tbh !

  • @malhamaulkubra4437
    @malhamaulkubra4437 Год назад +1

    Deflation meant too much money was printed and thrown into the system.... Now that it's inflation.. Money is supposed to be sucked out of the system in phases... Kwarteng instead fed more into the system with huge tax cuts

  • @simongigney2138
    @simongigney2138 Год назад

    My god could the UK be looking anymore pathetic if it tried??? What a joke of a gov

  • @HopoCafe
    @HopoCafe Год назад +3

    Rishi had better economic policies. Liz is good but not good enough. All the best. 🙂👍🏻

    • @sunnyvalentino
      @sunnyvalentino Год назад +2

      But Rishi was "not English" enough for the right wing.

  • @goldfinga786able
    @goldfinga786able Год назад +6

    Stop aiding war and think of ur own country

  • @StratsRUs
    @StratsRUs Год назад

    Trickledown always works !
    For Johnson.

  • @Dunno5minutes
    @Dunno5minutes Год назад +2

    Well finally

  • @derekscanlan4641
    @derekscanlan4641 Год назад +5

    Brexit 'may bring difficult times' Theresa May - that one time 🤣

    • @freddiestranger9783
      @freddiestranger9783 Год назад

      RIGHT ON GIVE YOUR LIFE TO THE LORD JESUS CHRIST NOW

    • @nietzschean3138
      @nietzschean3138 Год назад

      Very little to do with Brexit, which was a brilliant opportunity. It had to be made to seem catastrophic though, as it it was entirely at odds globalist agendas.

  • @TruthTeller977
    @TruthTeller977 Год назад +3

    It's taken the BBC ALL DAY to cover this on RUclips.

    • @darkking3608
      @darkking3608 Год назад

      Yup I noticed that as well, this is a national crisis and we get silence...
      I used to not believe the BBC's bias stuff but Jesus

    • @freddiestranger9783
      @freddiestranger9783 Год назад

      YES GIVE YOUR LIFE TO THE LORD JESUS CHRIST NOW

    • @davidcedric7424
      @davidcedric7424 Год назад

      Hello Elizabeth. How are you doing .?? Oh really I think so 😊 .

  • @shubhamnandi3498
    @shubhamnandi3498 Год назад

    The Sun has finally sat on the English Empire🤣🤣🤣

  • @polygonalmasonary
    @polygonalmasonary Год назад +2

    The 45% tax cut gives money to people who are already very wealthy, these people didn’t get wealthy by ‘Spending Money’. It is poor people who ‘need’ things that spend money when they have it. Truss has an impressive educational background but intelligence has completely deserted this mind bogglingly bad financial action 😮😮😮

    • @public.public
      @public.public Год назад

      Agree with you. Qualifications only say a person MAY achieve certain things under specific circumstances. They guarantee nothing.
      The ONLY way to achieve economic growth is to put the money to the very poorest because they WILL spend that money,
      and most certainly wont offshore it, which benefits all businesses of all sizes BEFORE it is offshored by the biggest players.
      This also slows down the necessity to borrow from the billionaires to get more money in circulation
      after throwing it at them for them to offshore their interest profits yet again forcing even more borrowing.

  • @LuchadorMasque
    @LuchadorMasque Год назад +3

    Aye, the dollar appreciates it. This is an odd recession. One at full employment and a very strong dollar in the United States.
    Fiat currency . . . Lol

    • @hyndscs
      @hyndscs Год назад

      Petrodollar fiat lol

  • @harrywilliam8740
    @harrywilliam8740 Год назад +6

    India has 580 billion forex reserve.
    Uk has only 80 billion forex reserve. If uk has cross border trade. it will give huge loss. Dollar is more important.
    Pound is not attractive currency like dollar. Whole world use dollar.

    • @Lommy9999
      @Lommy9999 Год назад +4

      But India is incredibly inequal. In the UK you don't have such poverty rates.

    • @harrywilliam8740
      @harrywilliam8740 Год назад +1

      @@Lommy9999 uk is a small country with low poverty rate that is good. Then y your forex reserve is so low ? Uk is 6th largest economy in the world.

    • @freddiestranger9783
      @freddiestranger9783 Год назад

      OKAY GIVE YOUR LIFE TO THE LORD JESUS CHRIST NOW

    • @Lommy9999
      @Lommy9999 Год назад

      @@harrywilliam8740 I'm not British....

    • @jonsimmons4150
      @jonsimmons4150 Год назад

      in india 60% of households dont have toilets.

  • @PMMagro
    @PMMagro Год назад

    Mini budget, major backlash...

  • @tednash5440
    @tednash5440 Год назад

    need a translation in english

  • @alicelander9058
    @alicelander9058 Год назад +3

    Interest rates need to be 5, 6 or 7 per cent then markets will want the pound

  • @janetlamb6812
    @janetlamb6812 Год назад +3

    Liz Truss has to go

  • @NarendraKv
    @NarendraKv Год назад +1

    It appears the European governments are ill equipped to handle any crises. Narendra Modi government in India took many proactive steps to manage this economic crises. This situation looks more like a local issue rather than a global crisis, sitting in India.

    • @jharkhandxam
      @jharkhandxam Год назад

      don't judge it too soon ..... difficulties for developing and developed countries are different ........

  • @mcconartist3281
    @mcconartist3281 Год назад

    Those experts again. Causing havok

  • @renzobartoli7816
    @renzobartoli7816 Год назад +4

    Fair play, the Government must be doing it right if the IMF are unhappy?

  • @jlvandat69
    @jlvandat69 Год назад +32

    RIP, UK. As Americans painfully learned in 2016, when you elect a Right Wing personality to lead the country, destruction is inevitable. Italy will see the same. History tells us the future of the UK and Italy, and it's very ugly. Best of luck.

    • @sukhdevjohal9053
      @sukhdevjohal9053 Год назад +5

      Totally agree

    • @Keln02
      @Keln02 Год назад +4

      fun thing, truss wasn't elected... well 20k tory voters can't represent the entire uk

    • @piccalillipit9211
      @piccalillipit9211 Год назад +9

      People voted for Brexit, they voted Tory - they are getting exactly what they voted for...

    • @geordiebatt
      @geordiebatt Год назад +2

      Truss never even had the support of the majority of her Tory colleagues. She's an absolute cluster f##k.

    • @magesalmanac6424
      @magesalmanac6424 Год назад

      Yup, all they do is create tax write offs for the wealthy and deregulate. And then conservatives act surprised when their policies fail!

  • @devpersaud2331
    @devpersaud2331 Год назад

    There needs a repair job. That is to get the oil companies to contribute .

  • @dotolaj3263
    @dotolaj3263 Год назад

    They must be on the right track then

  • @russellvisentin5723
    @russellvisentin5723 Год назад +14

    Investing in crypto now should be in every wise individuals list, in some months time you'll be ecstatic with the decision you made today

    • @paulmarshall1178
      @paulmarshall1178 Год назад

      You should know it's easy and hard to make that much profit. I say EASY because it's very possible to make that much, and Hard because you'll need professional assistance to do it, I'd suggest you get assisted by a market advisor.

    • @fredrickpeterson4382
      @fredrickpeterson4382 Год назад

      That is totally true, but how well does a financial advisor improve your profit? What is the experience like using an advisor?

    • @patrickmartin2894
      @patrickmartin2894 Год назад

      I can't disclose too much, but yea I've been using a coach and through his guidance, I've been able to make approx. $24,000 in dividends on a monthly basis, it is pretty straightforward, not as complicated as it used to be.

    • @patrickmartin2894
      @patrickmartin2894 Год назад

      She's called Mrs Emilie Choi

    • @michaelfrankland2705
      @michaelfrankland2705 Год назад

      This is impressive how could someone go about getting investment guidance from a coach like that, would you mind sharing your coach info?

  • @shahidanusrat6086
    @shahidanusrat6086 Год назад +5

    As a Pakistani I am so much concerned about UK pound 💷 loosing its weight and value hahahaha 😅

    • @jasonkingshott2971
      @jasonkingshott2971 Год назад

      I'm sure many people are not much concerned that they aren't Pakistani.

    • @gc2696
      @gc2696 Год назад +5

      Oh dear...less money will be sent back to Pakistan...😰

    • @freddiestranger9783
      @freddiestranger9783 Год назад

      OK GIVE YOUR LIFE TO THE LORD JESUS CHRIST NOW

  • @Guesswhokk
    @Guesswhokk Год назад +1

    Few days ago BOE announcing "UK under recession" and today this happen.
    Tories really know how to turn around a "boring" economic policy into an "ideological one".

  • @bieberfan6300
    @bieberfan6300 Год назад +1

    Truss is gaslighting us

  • @stevexnycautomotive
    @stevexnycautomotive Год назад +3

    IMF = International MFer

  • @bbcisaids6727
    @bbcisaids6727 Год назад +4

    The cost of complying to lockdowns! Well done sheep this is on you

    • @freddiestranger9783
      @freddiestranger9783 Год назад

      INDEED GIVE YOUR LIFE TO THE LORD JESUS CHRIST NOW

    • @flowerpower7288
      @flowerpower7288 Год назад

      Actually many did not comply - don't believe everything you hear on msm

    • @MrMusicbyMartin
      @MrMusicbyMartin Год назад +1

      What on this earth has this got to do with lockdowns?

    • @bbcisaids6727
      @bbcisaids6727 Год назад

      @@MrMusicbyMartin you brainwashed globalist serf,

    • @bbcisaids6727
      @bbcisaids6727 Год назад

      @@MrMusicbyMartin lockdowns destroyed the economy!! You gormless sheep followed their plan, now your paying for it!! Stop bmoaning and accept your part for this ... pathetic

  • @san-chil
    @san-chil Год назад

    A mini budget and this !!! Now image for a moment what a full blown budget might have achieved for the British economy. The British owe their gratitude to their PM and dear Kwasi this.

  • @jonathanhadley2555
    @jonathanhadley2555 Год назад +1

    Well could there be a new monetary system on the way?!

    • @freddiestranger9783
      @freddiestranger9783 Год назад

      OKAY GIVE YOUR LIFE TO THE LORD JESUS CHRIST NOW

    • @jonathanhadley2555
      @jonathanhadley2555 Год назад

      @@freddiestranger9783 Well if ever there was a time, for a messiah...............................!

  • @moralesortiz7872
    @moralesortiz7872 Год назад +7

    ✍️✍️Nice video and I thank you for breaking it down !! Despite the economic recession , I'm so 😊 I have been earning $ 60,000 returns from my $ 8,000 investment on short period

    • @sammirodger440
      @sammirodger440 Год назад

      HOW!!😊 I know it's possible, my sister always get 40K every week, I would appreciate if you show me how to go about it.

    • @susanlett6374
      @susanlett6374 Год назад

      HER AVAILABILITY IS ON WHATS'APK MESSENGER

    • @nathanielvera.0
      @nathanielvera.0 Год назад

      👆👆👆

    • @nathanielvera.0
      @nathanielvera.0 Год назад

      🇺🇲🇺🇲🇺🇲

    • @susanlett6374
      @susanlett6374 Год назад

      @The American Empire TELL HER I REF'D YOU ASAP🇺🇲🙏

  • @strikefault
    @strikefault Год назад

    there's that word again, inequality.

  • @warsil3735
    @warsil3735 Год назад

    Sri Lanka dosca similar trickle down economics and went bankrupt..you cannot tax cut and simultaneously bear the energy costs.

  • @gk9257
    @gk9257 Год назад +1

    Truss need to get some advice from sunak