Hola from Spain...I am a qualified, experienced teacher of working age...I was forced out of my job by my Academy chain as I was a union rep and the chain wanted to de unionise their workforce...I signed a non disclosure agreement to get a pay off...I sold up and moved to Spain just before Brexit...I am happy the UK has a sensible Labour government...but there is no way I will move back and teach again...the profession was killed by the Tories...
Thank you Micheal, yes, I agree, it's so good that we once again have a proper Government running the Country once again after the last 14 Years of criminal mismanagement. Let's hope we'll also be able to repair our Relationship with the EU too.
Labour has inherited a disastrous situation. It will take time to sort out....they need to get closer to the EU for business opportunities and extra working people. I agree with you Michael...it won t get sorted in 5 years unfortunately but any progress is better than none. Have a good weekend xx😊
Well, (there is no re) joining the EU will be impossible before the UK gets its house in order. We will not accept a basket case of its own making. So, get a copy of Copenhagen criteria and work through that.
Until Starmer starts the process of reversing Brexit and implementing Levenson 2 he is failing the UK on two of the most important issues; that is a failure of vision and leadership.
As an Irish person, it's a relief to see the adults back in the room as far as the UK government goes. It will take time but I really do hope things pick up for the UK. This idea that you're doing well because others are not is so ridiculous. Hopefully if Labour follows a genuine and logical path in trying to improve things, then the likes of Farage and reform will be found out because apart from rhetoric they have nothing.
Another excellent discussion, Michael. I wonder how much money, if any, is spent aiding the extreme Right Wing Government of Israel. Might there be money better spent than on genocide? Geoff, from Fremantle Western Australia 🇦🇺 🦘
Why is it that both Tories and labour still refuse to admit the financial damage Brexit has done and will continue to cause devastation throughout our country (farming, fishing, healthcare services, exports to Europe..and on and on)
Because you seem to have forgot the rabid, divisive, mouth breathing, family destroying politics that came along with Brexit. Why open the box, why play hot potato with the grenade? You can't explain to these people, you can't reason with stupid, their response will just be "well Brexit was done wrong, let Farage do it." Realign and settle on something between the sunlit uplands of full membership and being an isolated island with no friends for the time being. Keep it boring and political and diplomatic, brexitfans don't actually care about politics or treaties or agreements. Wait till the boomers are all gone before we fully rejoin - it's not worth the headache.
Michael is entirely correct - the only means by which significant economic growth can be achieved is by joining the EU once more. In order to fund the rebuilding of the nation, what Labour COULD do, and SHOULD do, would be to impose the following taxes: 1) A Wealth Tax on the super-rich (those with assets of and above £10 Million) 2) Properly taxing Large and Multinational Companies Sadly, Reeves and Starmer have categorically ruled out implementing these taxes. This is why I share Michael's pessimism for our future.
@OxidusMagicus I'm not convinced that borrowing the sums needed would be wise economically - quite the reverse. Whereas, properly taxing large and multinational companies could massively improve the lives of most ordinary people, due to the vast sums which could be raised for the exchequer in this way. I think you might be confusing inequality with low growth. Properly taxing wealth and international companies would provide the means to reduce poverty significantly - and I'm 100% in favour of doing this. That will go a long way to tackle inequality. In order to grow the economy, the UK will need to export both goods and services (both financial and legal services). Equally, our capacity for economic growth is rendered all but impossible because without the necessary skilled and unskilled workers, productivity is WAY down on what it was prior to when Brexit took its' full effect. Our capacity to export services has decreased somewhat, although large companies are still able to do this. Whereas our capacity to export goods has been massively impacted by Brexit. It's no coincidence that the UK economy has diminished isgnificantly since we left the Single Market and the Customs' Union. Our shortfall of around one million skilled and unskilled workers is hampering our productivity - big time. Leaving the EU, along with a stupid policy of limiting migration by imposing stringent criteria for work visas - is a large part of the reason why the UK economy CANNOT grow without re-introducing Freedom Of Movement. Any meaningful growth outside the EU is neither feasible nor realistic. But the notion that either borrowing or 'Quantiative Easing' would lead to growth is a very mistaken and misguided one. But hey, if you have convincing peer reviewed proven research to support your claim, I suggest you reply with data and evidence to prove your point. Are you able to do that?
Companies will say that they would move abroad, but service companies ( as opposed to manufacturing companies) would lose their source of income if they moved out of the UK. If a service company makes £100m a year from the UK and they are made to pay £25m in tax they are still left witjh £75m which they would lose if they left the UK. They would be crazy to do such a thing.
@@alanrumble7238 Exactly so. However, in regard to the manufacturing sector, there is another factor to consider here - namely that here in the UK we still do have a highly skilled (albiet now somewhat reduced) workforce. *For example:* Pharmaceutical companies such as GlaxoSmithKlein, Novo Nordisk, etc employ Pharmaceutical Chemists not only in production, but also in clinical trials. A move to, say, Bulgaria would limit the number of highly skilled and qualified people available to continue to both trade and do Research and Development. The same is also true of the Aeronautical/Aerospace industry. The UK is still highly regarded internationally as a centre of excellence in advanced engineering (Rolls Royce engines power most passenger jets, for example, and indeed Rolls Royce cars are made near Chichester).
@@timelwell7002 back in the 90s, that was true: not anymore. While Oxbridge is still well-regarded, Estonia, Latvia, Poland, Hungary.....all these places have highly motivated, qualified graduates and very cheap land to build factories! Research can be done pretty much anywhere these days.
@@timelwell7002 Rolls-Royce Jet Engines are having all sorts of issues unfortunately. Also, they are facing very strong competition from the French and the Americans. Brexit Does NOT help. Especially with deadlines...as just-in-time and Parts supply has been ruined by Brexit. We are a laughing stock.
I lurch between optimism and pessimism where the new government are concerned....I suppose only time will tell....Michael I love listening to you and this talk gives me hope....
Until the UK realises that Brexit was a horrendous idea and a huge cost to the economy, then I am afraid I don't see much improvement. 66% of businesses you say are struggling to do business at all with EU countries re: export, then what is the point burying UK us citizen's heads in the sand day after day, especially for the young, which is the future of the country. All these promises are quite unrealistic but that is no surprise with politicians TBH. Why are UK roads in such poor conditions, why are there so many poor people in the UK for a western democracy, why are there so many uneducated people, why are the general working population struggling to make ends meat and that is higher middle class earners as well joining the club of struggling, why are so many businesses struggling............the list goes on! Well I personally think it's mostly Brexit.
The only part that is brexit are the export problems. All the other issues like crumbling infrastructure and under education all pré date brexit and have been structural UK problems for decades. The UK isn't as rich a country as its inhabitants think, a poor country with pockets of extreme wealth has been mentioned before. To keep up with the neighbours government's starting with Thatcher have been selling the table silver until almost nothing was left, leaving the UK in the situation it is in now: a wannabee world power with a median income soon to be overtaken by former ussr countries.
What products can you not have these days that you could have before? Our food is still cheap compared to most of Europe even with the inflation everybody has experienced.
Claim (selective) - "The UK economy is growing faster than almost any other major country, including the United States". Full Fact Verdict - "This is true when looking at the latest quarterly GDP growth for G7 countries. But the UK’s annual growth last year was among the worst in the G7, and the UK has seen comparatively slower growth since the pandemic than most other G7 countries, including the US". Just take a look around you. It isn't hard to see the truth. The UK is in a downward spiral and its public services are screwed.
@@jimmagspanton669 "Take into account that the % of the economy shutdown through COVID was larger " ... so your baseline was lower than many in the developed world. Did you miss some math lessons, like what the denominator and numerator are in division? Britain, which acts as a broker on the gold market, has also benefited from the fact that the gold market went through the roof as a result of the war in Ukraine. Mind you, Britain add the gold it processes to its GDP, not the brokers' profits. Anything to make the numbers look good, including deception (read: cheating) Also, Britain has been counting outsourcing from the UK in their GDP since 2021, which is also misleading (read wrong). Desperate 'tricks' to hide the truth, namely decline. And the figures used by the government do not take into account inflation, which is the highest in Europe. Population growth is also the greatest. And finally, you Brexiteers won and that has been the reality since 2016. So what Michael predicted is secondary to what the Brexiteers predicted: wonderful trade deals (rollovers + worse ones), cheaper food and energy (how does that work out?), a wonderful NHS with no waiting lists. Any idea how many people die every month due to unacceptable long waiting lists?
@@jimmagspanton669 # The UK government debt is above 100% of GDP and rising sharply. It is predicted to rise more between now and 2029 than France, Germany and even Italy. # UK's productivity is falling and is now in the bottom half of the rankings in the OECD, well below France, Germany and the United States; just below the average for the euro area; and slightly ahead of Italy and Spain. UK's own OBR has calculated that Brexit is costing the UK 1.5% productivity, 1.5% every year. You really think you know better ? # UK's inequality is the highest in Europe. It is the worst country in Europe to be in the 15% of lowest incomes. # UK's infrastructure is falling apart # UK's public services are on the break of collapse, like the NHS # More than 47,000 UK businesses on ‘brink of collapse’, warn insolvency experts # UK's OBR has calculated that Brexit has reduced trade between Britain and the EU by £100 billion, leaving the Treasury with £40 billion less per year. You really think you are making a point with Germany cutting down aid to Ukraine ?Germany is Ukraine's second largest military donor after the US and can reduce its own contribution as the G7 group of rich countries will raise $50 billion from interest on frozen Russian assets, securing Ukraine's financial future for the foreseeable future. Didn't the Daily Express provided the reason? Where are the benefits of Brexit ? Where are the excellent trade-deals ? Australia ? New-Zealand ? Well, ask farmers about that. The rest are roll-overs of which the one with Canada is expired and not being replaced. More to follow ? Where is that holy grail of Brexit: the trade-deal with the USA? Oh yes, nowhere. And the trade-deals between the UK and Japan (#4 economy in the world) which is a decoction of the EU-Japan trade-deal, has reduced export UK->Japan. What a joke. So I don't care what Michael or any other remainer said, it's what the Brexiteers said that counts, because that's the reality now: a post-Brexit UK. How cowardly can you be to hide from self-inflicted damage behind what someone else has said about an alternate reality.
@@jimmagspanton669 I google national debt UK and this came on top and from UK's office for national statistics: : UK general government gross debt was £2,720.8 billion at the end of Quarter 4 (Oct to Dec) 2023, equivalent to 101.3% of gross domestic product (GDP).30 apr 2024 Conclusion: Learn how to use google. And I said that the increase in debt will be bigger than Italy. Not the total amount ( in % GDP). But it will be close. BTW: the increase in debt in the UK started in 2009 with about 3% every year. Now its increase is even bigger. Also this: the currency of France and Italy is the euro, that of Great Britain is the 7 smaller £ (not in value but in economic size). Ask someone with some financial expertise in this area what the difference in effects is in relation to debt. He/she will say that they are much more negative for the smaller currency. "What about the forecast that by 2035 the UK economy will be 30% bigger than France". Haha, what crackpot made that one ? This is my source : "Statista is a global data and business intelligence platform with an extensive collection of statistics, reports, and insights on over 80,000 topics from 22,500 sources in 170 industries. Established in Germany in 2007, Statista operates in 13 locations worldwide and employs around 1,100 professionals." So tell me: what is your source for that 30% ? The Daily Express ? And I do know the problems we are facing and guess what: they make me believe even stronger that we need the EU. Lets start with the vaccines: in the spring of 2020 the EU discovered that Trump was buying small but crucial suppliers for chemical parts for the vaccines. The EU blocked that. Can you guess what would have happen if Trump had a monopoly on a mandatory chemical needed to make vaccines ? And why didn't I see this fact in any shape or form in UK's media ? So perhaps you are the one that should extend his reading. Lets take the war in Ukraine: before 2022 the UK was strongly opposed against any form of an European army and/or European common defense industry. Why ? Simple, the UK would loose its status in NATO. But times have changed: there is suddenly the realization that we have a serious threat in the East and that the USA is not that reliable anymore (with Trump even threatening to leave NATO). And guess what: the UK is now pushing to create an European defense industry and a closer cooperation in terms of military power. Do you really think that this would even have a change without the EU ? With a bag full of separate small countries including Hungary ? Also this: the EU (and Germany in particular) was too dependent on Russian fossil fuels. It took less than 1 year to get rid of that over-dependence. Do you think this would have been possible without coordinated cooperation lead by the EU? And why was this over-dependence widely reported in the British media, but not about the almost incredible speed at which it was removed ? Compare this with HS2. Economically: do you really think that Europe without the EU, which would be a collection of small countries all doing their own (short-term) bidding, would stand a change against the economical (aggressive) giant like China ? China would pick one country at the time and turn it into an financial and economical "slave" like they are doing in Africa. Energy: There is no country in Europe, including UK, that can eliminate by just itself its dependence on fossil fuels by converting its energy source to renewables. None and I speak as an engineer who has read a lot about this. It will even be a challenge with all European countries working together. Do you really think it would work between more than thirty separate countries all doing their own bidding? And how can a country speak of sovereignty if it is dependent on such a basic need as energy on a handful of foreign suppliers? By having the freedom to freely decide the TVA for tampons? By deciding freely on bottle caps ? Really ? But answer me this: with all the problems that Germany, France, Italy ... might have, how will Brexit reduce the effects it has on the UK ? By being a member of CPTPP with a prediction GDP gain of 0.04% in 15 years ? How ? So far Brexit made the UK even more dependent on food imports thanks to the "wonderful" trade-deals with Australia & New-Zealand, countries on the other side of the world . What a joke. And finally this: a handful of remainers predicted the sky would fall, but ALL Brexiteers predicted a utopian future. ALL Brexiteers. So trying to justify yourself with what a handful of remainers said while ignoring what the Bank Of England, Reuters, Goldman Sachs, OBR, ... have CORRECTLY predicted is ..., hypocritical and cowardly denial. And that prediction was: # 4-6% less GDP # 1.5% less efficiency (every year) # more inequality(which is already the highest in Europe) # SME's having more difficulties accessing EU's market (or 85% of their pre-Brexit market). A third that was exporting to the EU already have stop doing that. # reduced investments (double digits since 2016) # a devaluation of the £ (12% in 2016 and not recovered yet) ... But hey hoy, you have the prediction of a crackpot that UK's economy will be 30% bigger than the one of France in 2035.🤣
@@jimmagspanton669 No, I do not just look at google. I'm looking at specific sources, like UK's own OBR, Reuters, .... What are you looking at ? Where comes that 30% from ? Tell me. Out of your behind ? And also tell me what advantage Brexit will give the UK in relation to those problems of France, Germany & Italy you were ranting up. What and how ? Because if you can't answer the last question, why did you use them in trying to justify Brexit? That would be just plain stupid, wouldn't it? And I'm an engineer, I do know how to analyses data. Better than your pro-Brexit media (which seems to be your references of "truth") like the Daily Mail, Daily Express and even The Telegraph who doesn't even take inflation into account. Or those "wonderful" Tory pro-Brexit ex-MP's who thought that a lower inflation means a lower price. So, what and how will give Brexit an advantage to the UK in relation to those problems in Germany, France and Italy ? Surprise me with your wisdom.
A country the size of the UK is not a speed boat-it is a super-tanker. The change will be painfully slow. The populace needs to know that-and stay patient and on course.
@@jonzu217 the prescription worked perfectly at the GE and it's the likes of you who now have to live with a Labour government whether you like it or not...what a shame.
@dogglebird4430 "I agree" I had to read that twice lol Maybe I will say there is too much of the wrong sort of immigration. The unskilled Labour Market is shrinking and AI will have the same impact on the service sector as Thatcher's policies had on the UK's industrial base. So bringing in unskilled Labour will only in the long term increase the number of the unemployable in years to come.
Even in the first few weeks ,Michael, this Labour government has looked way more professional and more dynamic than the Tories ever did in fourteen years. Whether or not this will continue or whether any of their plans will come to fruition is another matter entirely. Time will tell, I suppose. For the moment though, I prefer to remain cautiously optimistic.
Britain needs to take a realistic look at it's status and get rid of the delusional claims to "global relevance". These delusions cost a fortune to maintain and involve Britain in potentially catastrophic risks. The first thing Britain needs to do is unravel Thatcher's crazy privatization policies and take all basic utilities back into national control. Britain is hemorrhaging money to foreign entities who have no interest in the health of the British State. The French particularly won't like it; British electricity customers are a cash cow for the French State. Then the education system needs overhaul; universities need to be consolidated and assigned particular research tasks. The most important areas of interest are obvious; nuclear power is #1, followed by robotics and AI, there are many others. The best approach is by cooperation with other political entities; obviously the most important being the EU. Cooperation with China is also vital because China is now the world's leading technological power. It would also help to revamp the electoral system to more accurately reflect the nation's politics. And leave the House of Commons and the Westminster monstrosity to be a tourist curiosity. Britain should build a representative chamber reflecting adult values rather than the juvenile antics of public schoolboys, which is what the H of C is now. Economic growth will follow.
Brexit was a con job by con men and the majority realise this .The decisive voting out of the Brexiters that got us in this mess gives Starmer an absolute mandate to destroy Brexit. Starmer hopefully will surprise everyone and just get it done , only time will tell . If he doesn’t, he will fail , it’s that simple . If he does he will truly become one of our greatest leaders .
"the decisive voting out". That isn't what the election outcome says, only if you look at the ridiculous fptp seat appropriation. The actual mood is better reflected in the popular vote, and that says that part of the brexiters moved to reform, part stayed with the to tries and part just didn't vote. That doesn't sound "decisive" at all, on the contrary. It still shows the country is more or less split in half, which is what most polls say as well
FOR HEAVEN'S SAKE ! You can't rejoin the European Union ! It's not your choice and never will be. When britain joined the original Common Market, there were a handful of members, and it still took eleven years to convince them to agree to have you. Now there are twenty seven member states, and you have proven beyond any possible doubt how untrustworthy and mendacious you are and that you have absolutely no concept of the true European ideal. You voted to leave, you left ! And we don't want you back ! Why would we ????
Kier Stalin will surprise only those who viewed him with misty eyes, as some great saviour. He’s better that any Tory leaders, but that’s not a high bar.
Enjoyed the video micheal, was great to see to see starmer and our man Simon harris chating and meeting up with a pint of Guinness last week,hopefully we can get relations between 🇨🇮 🇬🇧 back up and running again,💪💪💪
Thank you, Michael. Excellent as always. Just want to add that I find it staggering that NOBODY it seems, will be held to account (face serious investgation) for the often corrupt expenditure over the last few years. Eg. Rwanda, (Kagami must be laughing in his palace) test & trace, PPP equipment - or whatever it's called, tax avoidance by the super-rich. The list goes on. As for the EU - Starmer's BIG mistake is his continued 'support' of brexit, whether he agrees with it or not.
Labour should have scrapped the two child cap on day one of taking office. It is cruel and heartless. Starmer talks about having a review into poverty, thousands of children could have been lifted out of poverty straight away. The govt have committed to providing Ukraine with three million a year, is that within Rachel Reeves fiscal rules ? removing the two child cap would cost around two billion, its shameful, I thought Labour were the party of the working class but not anymore. Starmer may be "forensic" but he is also ruthless and an authoritarian. He has suspended seven of his mp's because they voted to scrap the two child cap, which means he won't tolerate any descent. I hope they will make positive changes that benefit everyone but that's difficult if they want to spend as little money as possible.
They aim to. It wasn’t in the manifesto so the press would rip them apart if they don’t do EVERYTHING by the book. What don’t you understand about our press and media? It’s not a cap on child benefits it’s a cap on uc payments for two children and upwards.
The only person happy with the Brexit deal was Bodger Johnson. It was a truly awful deal but fortunately for him when the going got tough he could just walk away from it and look at the mess were in now ☹️
Not forgetting his & CAMERONS "string pullers". The shady billionaires & millionaires who engineered Brexit to protect their wealth & reputations from the UE Tax Authorities. These slimey individuals OWN the Tory Party, so it was quite easy for them. But the clever bit, was convincing 52% of the voters, they had, "won a great victory for Democracy" ! Some of whom still believe that, despite the hard evidence.
So you think a no deal would have worked better for a country that can't feed itself or even make a bicycle without imports from the EU. You can wave your little flag as much as you want, the UK was, is and will always need the EU if it does not want to revert to the situation in the 70's: the sick man of Europe.
To the people swooning about our brilliantly growing economy in comparison with the EU, and who have not seen Michael's videos on these poor EU countries in decline (Irony alert). Economically in the UK, who is growing, what is growing? Financial services. Who is benefitting? the very rich. I do not give a monkey's what the growth is. I care about average Joe's life getting better. One thing is sure: that has not happened under the tories, and even less so since Brexit started kicking in. What we have seen is tory chums getting preferential treatment during covid, corruption and money laundering. As Michael is saying: half of the world's tax heavens are UK controlled. Where is our money? If trickle down economics worked, Victorian workers would have been affluent. Michael Lambert has a business, selling THINGS not financial services. Liz Webster is a farmer. I could name a few more. All complaining of how Brexit is harming us. Those are the businesses which actually feed us. Conclusion: if they are not doing well, feeding will become an issue
Great commentary here. I agree with it all, especially your point at 05:45. The totally ineffective test-and-trace system was the biggest waste of public money since the 1950s (with the entire Brexit project coming a close second) and it was brought to us by the party who, supposedly, prides itself on being such marvellous stewards of public money.
@johnwright9372 And there are Lots of interesting Articles on the Web that Actually confirm your point. The only thing Tories ARE good at...is controlling the Media to Spead their Lies......
Whenever the dire state of the economy is discussed as it was today (BBC radio4), the war and Covid are wheeled out but never is Brexit mentioned. Weird blind spot? It’s understandable that the Tories would be in denial, but Labour too ignore this.
Michael, as a Dutch Watcher from the Amsterdam area, I am following you for many years. I was so sad in the years after Brexit. I was Growing up with the lovely James Herriot series, the English villages with flowers, the gardens, the shops of ‘Past Times’. It is all gone. Like many others I don’t like visiting Britain as a tourist any more. But now the new government of adults gives hope. Carry on with your video’s!!
Well said Michael. The government needs to thinkl long and hard before letting private companies, often foreign., from running utiliies. Remember how PFIs ended up costing the country large sums even after they were no longer used.
3 years ago the LCU published an independent study which indicated that every extra Tax investigator employed by the revenue service, if left to work with no restriction within the income and acquisitions regulations for British citizens could recover between 140 and 800 times their own annual salary in undeclared tax revenues. Each and every year.
Growth unfortunately is not 'almost' impossible, it is actually impossible, not only is it impossible to grow the UK economy while in it's current circumstances, it will continue to decline, untill it reaches the same leve, or slightly lower, l that it was (relatively) in the early 1970's. It may even be worse than that. Allow me to explain. In the 70s, trade volumes, worldwide, were much less than they were in the 2000s. But, after joining the EU or at that time, the common market, we began to export vastly larger volumes because the ease of exporting to France, West Germany, Spain, Italy etc. increased the possibilities because of the shorter distances, compared with ROW trade. We also were now able to import raw materials more easily, making new products viable and increased profitability all of which spiraled ever upwards. In the eighties production of goods began to level off, but financial services increased dramatically. ROW goods trading has stayed at 1970s levels until now, but without EU trading terms with, say, US, we now don't even have the trade openness there any more, causing that to reduce annually and continually. The UK is screwed. Banking firms are now moving accross La Manche, over 5000 small businesses have moved to the mainland, taking jobs with them, they will not return. This is like having a household, that every day you sell one item from, by the end of the year, you will notice that you have no blankets left and by the end of next year you will be eating with your fingers, and by the end of the year after you wonbe able to cut your grass, wash your clothes or brush your hair. Soon you'll be sleeping under a bridge. This description is NOT a satire, it is actually happening right now, look up trading figures monthly from about 2019 and compare them with current figures, you can see that EVERY SINGLE SECTOR has reduced every year in the UK, EVERY SECTOR. Wake up now, or all you'll have left is flag waving. Even if you have no flags left.
Labour have just taken over. It will take time. But Remember!!! Under the Blair/Brown government. Longest period of sustained low inflation since the 1960s. Introduction of the national minimum wage. Increased police numbers by 14,000 Cut overall crime by 32%. Record levels of literacy and numeracy not reached since. Doubled funding for every pupil in England. Wrote off 100% of debt owed by poorest countries. Increased NHS staff by 85,000 more nurses and 32,000 more doctors. Devolved power to Scottish Parliament and Welsh assembly. Introduced statutary paternity leave of two weeks. Record number of students in higher education. In Labour's last year of government, gave 828 million pounds of gift aid to charities (this exceeds the total amount given by the Conservatives in their entire period in office) Raised child benefit by 26%. Delivered 2,200 'Sure Start' children's centers. Introduced the Equality and Human Rights Commission. Pensioner's winter fuel payments of £200 or £300. The only European government on course to achieve Kyoto targets (at that time). 26,000 new teachers . All full time workers given the right to 24 days payed holiday. A million pensioners and 600,000 children lifted out of relative poverty. Introduced child tax credits. Introduced civil partnerships. Over 1 million social housing homes brought up to standard. Inpatient waiting lists down by over 500,000 since 1997 (NHS waiting lists have never dropped under Conservative administration Provided the cleanest rivers, beaches, drinking water and air since before the industrial revolution. Free TV licences for the over 75s. Banned Fox hunting, Fur farming and cosmetic testing on animals. Free on demand breast screening for women 50 - 60 Free bus travel for the over 60s. Labour's New Deal helped nearly 1.8 million people into work. Free Eye tests for the over 60s. Number of apprenticeships more than doubled. Free entry to national museums and galleries. Overseas aid budget doubled. Heart disease deaths down by 150,000. And cancer deaths by 50,000. Long term youth unemployment cut by 75%. Watch and see.
Good work Michael... agree totally... Josef Stalin quote: "In capitalist countries there are several parties. there is not much difference between them -- all of them stand for the continuation of exploitation - but one party criticises the other. When a party in power missteps and masses get disaffected the party is replaced by another......."
Just before we left school we had career advice. When you leave school you need all the help you can get, especially if you’re not going to university. So that is a good call. More teenagers should also consider training up as a trade. Not everyone is cut out for university. 👍❤️👍
its getting people to train them dont forget serving an apprenticeship takes as much dedication as a degree and at least 3 years hard word learning dont forget if you are training as a bricklayer one brick out can make a whole wall building skewith but we do need more skills training
Hi Michael I do watch your posts and agree with quite a lot. With Brexit your perfectly correct and anyone who says we're better off out simply hasn't looked at facts and figures. I don't think the country will make it without going back in but I don't think regardless we can really get that started up with Europe unless labour win a second term. Labour could do all the groundwork then lose the election. Them the Tories could just change direction. I think tbe labour party has been doing a lot of work behind the scenes for a long time. The Tories have had 14 years and Labour haven't even had 14 weeks yet.
Uncle Michael, you, me and Keir wear glasses. We are serious people. Thank you for your balanced and considered review of our new government's performance. As for Europe, as the polls for rejoining get stronger, I think our government will move faster, but it is a job that will take decades for us to be sufficiently united to be considered a good bet for the EU. Meanwhile we must do what we can to grow our economy.
I wish I could be more hopeful but I share your pessimism and frustration. Sadly, Labour will find it virtually impossible to maintain the current situation, bad as it is, over the next five years. They can tinker around the edges but the damage has already been done.
As you say the govt looks sensible. I'd like to see media reform to take down the off shore right wing press narrative and then we can push back seriously on brexit to try and win back 40b in lost tax revenue.. we must join otherwise get used to being much poorer..is that what labour wants?
Brexiteers promised everything to everyone to get people to support Brexit. Brexiteers promoted Brexit by stating conflicting and contradictory statements as facts. Brexiteers and Brexit supporters were fixated on 1.27% (net £8.5 billion of EU membership) of Government spending in 2016. The 2016/2017 UK budget was £676 billion. Brexit within a few years has already cost the UK trillions of Pounds and Brexit has already cost the UK more than all the EEC and EU membership contributions combined. It's wrong for the EU to sanction and seize Russia's assets as it means others can sanction and seize EU members assets in retaliation. The only benefits to Brexit is to make some immensely wealthy Tories and their billionaire donors even richer.
The gammon right wingers will be seething with the scrapping of Rwanda and bibi Stockholm, the echr pledge will blow their angry minds which is all good here, if they are angry we are moving in the right direction, its a good litmus test, great video Michael i couldn't agree more with the points you make.
The Bibby Stockholm was built as accommodation for oil and gas workers, who found it very satisfactory. But the illegal immigrants said they were too scared to live on it as they are afraid of water. Despite having crossed half the Channel on a rubber dinghy.
I think the point of Michael is that UK govt has only very limted options in what it realistically can do. All plans are irrelevant when there is no money to fund them.
Hi Michael. Hope you are well. The damage of Brexit has been severe for everyone. If this change of government can mitigate any further negative effects by outlawing the exploitative casual labour laws and the use of zero hour contracts this might scale back the rent arrears and dependence for those working poor on food banks. Naive maybe but there has to be a real change.
It is totally justified not to be over optimistic, but one must also guard against lingering pessimism. You are right in assessing how difficult it is going to be for our new government, we all have doubts and many of us would like a more determined approach about reversing Brexit, and growing the Economy... but... none of this can happen in a hurry. As you rightly say, it "will take time". We must swap hopeless frustration against patience and encouragement. We need to keep gardeners skills and protect whatever green shoots come out first until they can be planted and replaced by other green shoots; we must fertilise and water and keep an eye on the weather. Why we should exercise utmost patience along with self and state protection, is because we do not hold the reins forthright. Europe is ailing too, the world is much more uncertain, some conflicts will burst while others will subside, new ones will appear... Some leaders might come and others go - not necessarily to our liking - while certain businesses will be raised and others collapse. The political, diplomatic, military and economic zones of turbulence are moving very fast. None of us know what tomorrow, next week, month or year will bring. So at least... if we and the government are positively intended, then patience must be exercised, and hope needs to be allowed.
Total waste of money they are just easy targets to hit,modern warfare has changed!reality check!Look at Ukraine conflict!?We waste money sending british tanks there to get destroyed by drones!?Ukraine is a corrupt toilet!
How do you do you find an air base in the middle of the ocean that can move and is surrounded by several highly advanced stealth fighters with long range missiles, advanced destroyers and other specalised surface ships defending along with patroling submarines? How do you keep track of this mobile thing long enough to attack it from several hundred miles away consdiering it will take at least several munuites and possibly hours for any weapon to reach said ship. No, actual warfare is not solvable by a youtube randomer sat on the toilet during his lunch break. Lol
The only way we will see growth is either to rejoin the single market and/or customs union. Starmer needs to understand that the EU will NOT allow the UK to cherry-pick the best part of EU membership while being 100% outside of the single market and/or customs union.......IT'S NOT GOING TO HAPPEN!
Well since you have to be a member of EU to be in the single market and customs union of EU there are really no other alternatives. 3 EFTA countries have single market access through the EEA agreement but UK cannot become a signatory in the EEA agreement outside EU or EFTA.
There’ are probably good economic and legal reasons but can someone explain to me why companies shouldn’t be taxed in UK for the profits they make here, regardless of where their registered head office is or where their shareholders come from?
They are. But if they are part of a multinational, there are ways to pay the least amount of money where the highest taxes are, and have the larger part of profits taxed in a tax haven. Think of roaming off profits by burdening the unit in the UK with high fees from the main office for brand, marketing, your fantasy is the limit.
Used to be that (say Cocacola) UK - paid a license to Cocacola, LIchtenstein for the use of the trademark/logo which the parent company 'sold' to Cocacola, Lichtenstein for a relatively small sum. Presto-hey! A huge amount of UK 'profit' goes legally to Lichtenstein. Not sure if they still do that.
The simplest way out of this is to simplify corporate tax rules and base the taxation entirely on gross receipts. Whatever the amount is that the corporation gross earnings are in the UK they pay 20% tax. Forget about all the deductibles, depreciation, etc. All that is an accountants dream for evading tax.
Exactly Michael. No unfunded spending??? So how are they (Labour Government) going to get economic activity if the U. K. isn't doing business in/with the E. U.!!! Who's funding Labour NOT to move forward with being 'free' to trade with the E. U.??? Follow the money leading back to the Members of Parliament. Who funded the FRONT BENCH??!
Shocking figures on businesses basically bankrupt or struggling financially; almost 600,000 in total. Like you, Michael, I can’t say I’m surprised. As you rightly say, no one has any money. No one, but the richest 1% of us at any rate. Increasing the financial divide seems to have been the one thing the Tory government did achieve. I’m so relieved they’re out. Everything is broken, but it’s clear Labour have been working on their plans for a long time. You don’t hit the ground running in the way they have without putting in the leg work first. I’ve been impressed so far. More so than I expected if I’m honest. I knew they had a strong team. They’ve one hell of a mountain to climb that’s for sure and these recent reports show it’s worse even than they or most of us thought. I think they’ve already made decisions in the right direction, but if they can’t slowly turn things round, decline will continue and we’ll be back to being the sick man of Europe once again. I’m remaining positive and hopeful that won’t happen.
The problem that I see, is that any improvement to people's personal financial positions (given how many struggle to feed themselves and keep warm), will result in significant inflationary pressure, due to lack of supply in the UK economy and difficulty in importing the extra required.
Great video, thank you, Michael. Hopefully, an improvement in our trading and economic position, regarding our nearest and largest trading partners, will help to grow our economy. It will obviously take more than a couple of years to improve our terrible economic situation, and only partially recover from the enormous economic damage inflicted upon our country by the corrupt Tories, and the brainless Brexit fantasy.
@@MrAlb3rtazzo is pays itself back with a combination of the multiplier, and the extra taxes coming is from the growth. It’s what Roosevelt did with the new deal.
@@ChuckY229 that doesn’t help, because growth is measured in real money, it’s corrected for inflation. Printing money is inflation cause the total production states the same same
Agreed ....we have to join the single market or there will be no growth....ever .....Starmer needs a light bulb moment on this ....let's see how long it takes.
I think you need the lightbulb moment on how you'd rejoin without every gammon, newspaper and mouthbreather in the country going thermonuclear. Realignment and new agreements will be the way forward. Its not worth the political capital to overtly overturn Brexit, just let our relationship be defined by something else.
Hi Michael. I still hear Brexiteers saying "you lost, get over it". Many of them have had lorry loads of sand delivered to put their heads in. They simply cannot face the reality, the depth of disaster they have wreaked. This cry for "growth" really conflicts me. £100bn in lost trade every year, meaningless trade deals with countries who laugh at our inability to negotiate deals that benefit the UK, covering the countryside with poorly built 'homes' that serve only to remove any chance of peace and quiet in our countryside, (a vital resource and a tonic for the spirit), road building projects that destroy nature (120,000 trees felled to make a particular junction on the M25 'easier for traffic' when we should be getting OUT of our cars and on to public transport), taking back control while our public utilities, railways, energy generation, insurance, airports and airlines are majority foreign owned. Etc. Starmer has an almighty task ahead and I wish him and his cabinet well. I would offer a smidge of advice: stop banging on about growth (without attending to the EU issue) and talk about 'repair', renewal and unity. The Tories' legacy must not overshadow progress. It is the future we need to address not mantras from the past. The past is another country, one that is barely recognisable to us ordinary Brits. Keep up your great work Michael. 👌
I had not been back to my Dentist for ten years. Recently a back tooth started to play up and I was forced to go. I phoned them and received an appointment straight away. My lovely Dentist whipped tooth out and gave me four more appointments to create small denture and replace one for top. They look natural and it was nice to see him again every week. I wish I had more appointments to go.
Starmer is right that the only way the UK can tolerate is growing out of this Situation-the problem he has is doing it in a shrinking economy, that has cut itself out from its biggest market. The money, the gifted people, the companies and factories are leaving the UK. Some to the EU. Some businesses simply has to close down or scale back. The UK still is in a nose dive, and it will be for some years more. A country like the UK is like a Super--tanker -changing course takes time. It will be a long time before things can be better. But you need to start now, and creating trust in the UK again is one of the first priorities-you start from near to zero here. Creating more revenue for the UK state is one of the first steps you need to succeed in. Without it, you can not do a thing. You need to tax those that robbed that country. But they are very good to fight that, that has their prime pastime for decades and decades
@@garyb455 That is true, but austerity didn't work, either, it has been tried for 14 years. You need some money to start investing. The UK has 104% debt to GDP-so borrowing doesn't work, either. The low Taxes were financed by borrowing. How long can this go on? First rating agency has downgraded the UK already. So what goes?
It's simply false to say Brexit makes growth impossible. It's more accurate to say it reduces the overall rate but it certainly doesn't make it impossible at all. The thing is what kind of growth do we want and Reeves seems to be betting on doing it by concreting over the whole Southeast.
Looking from the outside it is saddening that those Labour plans sound a lot like Johnsons 40 new Hospitals and seem to be about as likely to happen. Maybe Labour isnt as cynical as Johnson who from the start never intended to deliver on his promises - but then i think how can they not see the difficulty with promising e.g. a lot new dentist appointments without having the needed dentists available ?
If anything Labour has said sounds like Johnson that's on you and not really based in reality. I've not seen Starmer hide in a fridge, heard him sing along to "let the bodies hit the floor", read about his extra marital affairs or had to endure being sacrificed by him on the altar of capitalism in the middle of a pandemic. Every single announcement has been funded, sensible and built on tangible foundations that actually exist. That's a lot more than what we've had in the last 14 years.
@@AvocadoAfficionado So who will be pulling those last teeth out of the shabby english mouths, since the OP is right when claiming there aren´t enough dentists available?
@@ab-ym3bf other have different lived experiences? Colour me shocked. Your anecdotes aren't data, there are plenty of dentists in the UK. Their distribution leaves something to be desired however. Unsurprisingly nobody is rushing to set up shop in decaying seaside towns.
Dear Michael, it must be a burden to tell people what the realities are, when (notably some posters over here put) their fingers in the ears and sing "We are the champions" badly, admittedly. You make a good effort in trying to get them to understand. But I am afraid, they will not understand until the situation is so bad, that reality can grab them at their shoulders and shake them until even the most recalcitrant have understood. Sadly thee will be deaths in that process.
They say " Never say never " and whatever Starmer may say he will move ever closer to Europe as things develop, what else can he do ? He'd certainly be wrong to rush things to start, he has to woo Europe and still keep on board as many voters as are willing to go along with him.
Sorry I have no faith in Labour, he refuses to face the biggest problem Brexit, his refusal to say we are not going to try and rejoin the EU I find it horrendous, I understand their is a big mess to clean up, one of the things this week was the 2 child benefit,I was disgusted he is not going to change it, I think he is full of empty promises, as an older person I feel for the younger generation,I live in Scotland 🏴,does anyone blame Scotland wanting independence,I don’t
Because everyone goes mental when you say the b word. You can realign without rejoining and sign new agreements without reversing old ones. It'll happen because there needs to be growth before you can spend and uprate benefits. And you cant grow if you dont trade. You just won't hear anyone advertise ithis because why work up the rightwing press already? You lived through 14 years of tory inaction, but are giving up after 1 week of labour rule becuss they didn't immediately resolve the hardest, most complicated, divisive and expensive problem and instead went on a low hanging fruit blitz to allow people to actually experience change quicker. Room temp iq takes. An independent scotland would still be the same country a week after they left the UK.🫠
@@ChuckY229 1 motorhome ...is that it. Michelle mone...personal gain of 30million. How many motorhomes could that buy. The SNP are not the be all and end all. Scottish independence will happen.
If the Democrats in the US get elected they have suggested an increase in the tax rate for people earning over $400,000 per year! This will allow them to decrease taxes for the poor people. The economy is already in expansion in the US, so now they can afford it!
All of tories should be prosecuted for what they have WILLFULLY done to this country for the past 14 years
Agreed. 100%
Much longer than 14 years.
Thanks Michael. It's a relief here in Ireland to see adults back in charge and relations between our countries improving again. 🇮🇪 🇬🇧
Yes I agree, relations much much better between🇨🇮 🇬🇧 under new Labour government,,,hopefully we can build on this going forward 💪💪💪💯
It is a good idea to improve the relations with our biggest individual trading partner as well as having such historic connections.
Hola from Spain...I am a qualified, experienced teacher of working age...I was forced out of my job by my Academy chain as I was a union rep and the chain wanted to de unionise their workforce...I signed a non disclosure agreement to get a pay off...I sold up and moved to Spain just before Brexit...I am happy the UK has a sensible Labour government...but there is no way I will move back and teach again...the profession was killed by the Tories...
Michael you are spot on. It is so frustrating. Why can’t the politicians wake up.
Thank you Micheal, yes, I agree, it's so good that we once again have a proper Government running the Country once again after the last 14 Years of criminal mismanagement. Let's hope we'll also be able to repair our Relationship with the EU too.
we need an inquiry into Brexit asap
@@WinstonMelbourne-vt2vt ,that's for sure,and arrests to follow, charge no 1 ,TREASON,,,
The did not squander the money, they enriched themselves.
I feel we have turned a corner but the recovery will take years. It’s so easy to destroy the country but very difficult to rebuild it.
It's: great too have a professional grown up government
Labour has inherited a disastrous situation.
It will take time to sort out....they need to get closer to the EU for business opportunities and extra working people.
I agree with you Michael...it won t get sorted in 5 years unfortunately but any progress is better than none.
Have a good weekend xx😊
They will never admit it was mistake as it means losing face.
If you think Rejoin EU is difficult, wait till you hear the problems with Brexit!
Well, (there is no re) joining the EU will be impossible before the UK gets its house in order. We will not accept a basket case of its own making.
So, get a copy of Copenhagen criteria and work through that.
Until Starmer starts the process of reversing Brexit and implementing Levenson 2 he is failing the UK on two of the most important issues; that is a failure of vision and leadership.
No British PM has the power to reverse Brexit. The EU alone decides who gets to join the club.
@@josefinenilsson8059 But they could at least get ready to apply;-)
As an Irish person, it's a relief to see the adults back in the room as far as the UK government goes. It will take time but I really do hope things pick up for the UK. This idea that you're doing well because others are not is so ridiculous. Hopefully if Labour follows a genuine and logical path in trying to improve things, then the likes of Farage and reform will be found out because apart from rhetoric they have nothing.
Another excellent discussion, Michael. I wonder how much money, if any, is spent aiding the extreme Right Wing Government of Israel. Might there be money better spent than on genocide? Geoff, from Fremantle Western Australia 🇦🇺 🦘
Tax Amazon properly.
Why is it that both Tories and labour still refuse to admit the financial damage Brexit has done and will continue to cause devastation throughout our country (farming, fishing, healthcare services, exports to Europe..and on and on)
There is a need to challenge Farage Braverman and co on Brexit and to focus on the tax dodging billionaires and offshore accounts.
Because you seem to have forgot the rabid, divisive, mouth breathing, family destroying politics that came along with Brexit. Why open the box, why play hot potato with the grenade? You can't explain to these people, you can't reason with stupid, their response will just be "well Brexit was done wrong, let Farage do it."
Realign and settle on something between the sunlit uplands of full membership and being an isolated island with no friends for the time being. Keep it boring and political and diplomatic, brexitfans don't actually care about politics or treaties or agreements.
Wait till the boomers are all gone before we fully rejoin - it's not worth the headache.
Michael is entirely correct - the only means by which significant economic growth can be achieved is by joining the EU once more. In order to fund the rebuilding of the nation, what Labour COULD do, and SHOULD do, would be to impose the following taxes:
1) A Wealth Tax on the super-rich (those with assets of and above £10 Million)
2) Properly taxing Large and Multinational Companies
Sadly, Reeves and Starmer have categorically ruled out implementing these taxes.
This is why I share Michael's pessimism for our future.
@OxidusMagicus I'm not convinced that borrowing the sums needed would be wise economically - quite the reverse. Whereas, properly taxing large and multinational companies could massively improve the lives of most ordinary people, due to the vast sums which could be raised for the exchequer in this way.
I think you might be confusing inequality with low growth.
Properly taxing wealth and international companies would provide the means to reduce poverty significantly - and I'm 100% in favour of doing this. That will go a long way to tackle inequality.
In order to grow the economy, the UK will need to export both goods and services (both financial and legal services). Equally, our capacity for economic growth is rendered all but impossible because without the necessary skilled and unskilled workers, productivity is WAY down on what it was prior to when Brexit took its' full effect.
Our capacity to export services has decreased somewhat, although large companies are still able to do this.
Whereas our capacity to export goods has been massively impacted by Brexit. It's no coincidence that the UK economy has diminished isgnificantly since we left the Single Market and the Customs' Union.
Our shortfall of around one million skilled and unskilled workers is hampering our productivity - big time. Leaving the EU, along with a stupid policy of limiting migration by imposing stringent criteria for work visas - is a large part of the reason why the UK economy CANNOT grow without re-introducing Freedom Of Movement.
Any meaningful growth outside the EU is neither feasible nor realistic.
But the notion that either borrowing or 'Quantiative Easing' would lead to growth is a very mistaken and misguided one.
But hey, if you have convincing peer reviewed proven research to support your claim, I suggest you reply with data and evidence to prove your point.
Are you able to do that?
Companies will say that they would move abroad, but service companies ( as opposed to manufacturing companies) would lose their source of income if they moved out of the UK. If a service company makes £100m a year from the UK and they are made to pay £25m in tax they are still left witjh £75m which they would lose if they left the UK. They would be crazy to do such a thing.
@@alanrumble7238 Exactly so. However, in regard to the manufacturing sector, there is another factor to consider here - namely that here in the UK we still do have a highly skilled (albiet now somewhat reduced) workforce. *For example:*
Pharmaceutical companies such as GlaxoSmithKlein, Novo Nordisk, etc employ Pharmaceutical Chemists not only in production, but also in clinical trials. A move to, say, Bulgaria would limit the number of highly skilled and qualified people available to continue to both trade and do Research and Development.
The same is also true of the Aeronautical/Aerospace industry. The UK is still highly regarded internationally as a centre of excellence in advanced engineering (Rolls Royce engines power most passenger jets, for example, and indeed Rolls Royce cars are made near Chichester).
@@timelwell7002 back in the 90s, that was true: not anymore. While Oxbridge is still well-regarded, Estonia, Latvia, Poland, Hungary.....all these places have highly motivated, qualified graduates and very cheap land to build factories! Research can be done pretty much anywhere these days.
@@timelwell7002 Rolls-Royce Jet Engines are having all sorts of issues unfortunately. Also, they are facing very strong competition from the French and the Americans. Brexit Does NOT help. Especially with deadlines...as just-in-time and Parts supply has been ruined by Brexit.
We are a laughing stock.
Morning, good work, thank you❤
I lurch between optimism and pessimism where the new government are concerned....I suppose only time will tell....Michael I love listening to you and this talk gives me hope....
I'm certainly not holding my breath. They talk about country. Which country I ask.
Thank you @gyzmo181 😊
Until the UK realises that Brexit was a horrendous idea and a huge cost to the economy, then I am afraid I don't see much improvement. 66% of businesses you say are struggling to do business at all with EU countries re: export, then what is the point burying UK us citizen's heads in the sand day after day, especially for the young, which is the future of the country. All these promises are quite unrealistic but that is no surprise with politicians TBH. Why are UK roads in such poor conditions, why are there so many poor people in the UK for a western democracy, why are there so many uneducated people, why are the general working population struggling to make ends meat and that is higher middle class earners as well joining the club of struggling, why are so many businesses struggling............the list goes on! Well I personally think it's mostly Brexit.
The only part that is brexit are the export problems. All the other issues like crumbling infrastructure and under education all pré date brexit and have been structural UK problems for decades.
The UK isn't as rich a country as its inhabitants think, a poor country with pockets of extreme wealth has been mentioned before. To keep up with the neighbours government's starting with Thatcher have been selling the table silver until almost nothing was left, leaving the UK in the situation it is in now: a wannabee world power with a median income soon to be overtaken by former ussr countries.
I totally agree and what makes me laugh is when people who voted leave can’t have what we used to have like cheaper food and certain products
What products can you not have these days that you could have before? Our food is still cheap compared to most of Europe even with the inflation everybody has experienced.
Thanks Michael. A good video.
Thank you 😊
Thanks Michael.
Claim (selective) - "The UK economy is growing faster than almost any other major country, including the United States".
Full Fact Verdict - "This is true when looking at the latest quarterly GDP growth for G7 countries. But the UK’s annual growth last year was among the worst in the G7, and the UK has seen comparatively slower growth since the pandemic than most other G7 countries, including the US".
Just take a look around you. It isn't hard to see the truth. The UK is in a downward spiral and its public services are screwed.
@@jimmagspanton669 "Take into account that the % of the economy shutdown through COVID was larger " ... so your baseline was lower than many in the developed world.
Did you miss some math lessons, like what the denominator and numerator are in division?
Britain, which acts as a broker on the gold market, has also benefited from the fact that the gold market went through the roof as a result of the war in Ukraine.
Mind you, Britain add the gold it processes to its GDP, not the brokers' profits.
Anything to make the numbers look good, including deception (read: cheating)
Also, Britain has been counting outsourcing from the UK in their GDP since 2021, which is also misleading (read wrong).
Desperate 'tricks' to hide the truth, namely decline.
And the figures used by the government do not take into account inflation, which is the highest in Europe.
Population growth is also the greatest.
And finally, you Brexiteers won and that has been the reality since 2016. So what Michael predicted is secondary to what the Brexiteers predicted: wonderful trade deals (rollovers + worse ones), cheaper food and energy (how does that work out?), a wonderful NHS with no waiting lists. Any idea how many people die every month due to unacceptable long waiting lists?
@@jimmagspanton669
# The UK government debt is above 100% of GDP and rising sharply. It is predicted to rise more between now and 2029 than France, Germany and even Italy.
# UK's productivity is falling and is now in the bottom half of the rankings in the OECD, well below France, Germany and the United States; just below the average for the euro area; and slightly ahead of Italy and Spain. UK's own OBR has calculated that Brexit is costing the UK 1.5% productivity, 1.5% every year. You really think you know better ?
# UK's inequality is the highest in Europe. It is the worst country in Europe to be in the 15% of lowest incomes.
# UK's infrastructure is falling apart
# UK's public services are on the break of collapse, like the NHS
# More than 47,000 UK businesses on ‘brink of collapse’, warn insolvency experts
# UK's OBR has calculated that Brexit has reduced trade between Britain and the EU by £100 billion, leaving the Treasury with £40 billion less per year.
You really think you are making a point with Germany cutting down aid to Ukraine ?Germany is Ukraine's second largest military donor after the US and can reduce its own contribution as the G7 group of rich countries will raise $50 billion from interest on frozen Russian assets, securing Ukraine's financial future for the foreseeable future. Didn't the Daily Express provided the reason?
Where are the benefits of Brexit ? Where are the excellent trade-deals ? Australia ? New-Zealand ? Well, ask farmers about that. The rest are roll-overs of which the one with Canada is expired and not being replaced. More to follow ?
Where is that holy grail of Brexit: the trade-deal with the USA? Oh yes, nowhere.
And the trade-deals between the UK and Japan (#4 economy in the world) which is a decoction of the EU-Japan trade-deal, has reduced export UK->Japan. What a joke.
So I don't care what Michael or any other remainer said, it's what the Brexiteers said that counts, because that's the reality now: a post-Brexit UK. How cowardly can you be to hide from self-inflicted damage behind what someone else has said about an alternate reality.
@@jimmagspanton669
I google national debt UK and this came on top and from UK's office for national statistics: : UK general government gross debt was £2,720.8 billion at the end of Quarter 4 (Oct to Dec) 2023, equivalent to 101.3% of gross domestic product (GDP).30 apr 2024
Conclusion: Learn how to use google.
And I said that the increase in debt will be bigger than Italy. Not the total amount ( in % GDP). But it will be close. BTW: the increase in debt in the UK started in 2009 with about 3% every year. Now its increase is even bigger.
Also this: the currency of France and Italy is the euro, that of Great Britain is the 7 smaller £ (not in value but in economic size). Ask someone with some financial expertise in this area what the difference in effects is in relation to debt. He/she will say that they are much more negative for the smaller currency.
"What about the forecast that by 2035 the UK economy will be 30% bigger than France".
Haha, what crackpot made that one ?
This is my source : "Statista is a global data and business intelligence platform with an extensive collection of statistics, reports, and insights on over 80,000 topics from 22,500 sources in 170 industries. Established in Germany in 2007, Statista operates in 13 locations worldwide and employs around 1,100 professionals."
So tell me: what is your source for that 30% ? The Daily Express ?
And I do know the problems we are facing and guess what: they make me believe even stronger that we need the EU.
Lets start with the vaccines: in the spring of 2020 the EU discovered that Trump was buying small but crucial suppliers for chemical parts for the vaccines. The EU blocked that.
Can you guess what would have happen if Trump had a monopoly on a mandatory chemical needed to make vaccines ?
And why didn't I see this fact in any shape or form in UK's media ? So perhaps you are the one that should extend his reading.
Lets take the war in Ukraine: before 2022 the UK was strongly opposed against any form of an European army and/or European common defense industry. Why ? Simple, the UK would loose its status in NATO. But times have changed: there is suddenly the realization that we have a serious threat in the East and that the USA is not that reliable anymore (with Trump even threatening to leave NATO). And guess what: the UK is now pushing to create an European defense industry and a closer cooperation in terms of military power.
Do you really think that this would even have a change without the EU ? With a bag full of separate small countries including Hungary ?
Also this: the EU (and Germany in particular) was too dependent on Russian fossil fuels. It took less than 1 year to get rid of that over-dependence. Do you think this would have been possible without coordinated cooperation lead by the EU?
And why was this over-dependence widely reported in the British media, but not about the almost incredible speed at which it was removed ? Compare this with HS2.
Economically: do you really think that Europe without the EU, which would be a collection of small countries all doing their own (short-term) bidding, would stand a change against the economical (aggressive) giant like China ? China would pick one country at the time and turn it into an financial and economical "slave" like they are doing in Africa.
Energy: There is no country in Europe, including UK, that can eliminate by just itself its dependence on fossil fuels by converting its energy source to renewables. None and I speak as an engineer who has read a lot about this. It will even be a challenge with all European countries working together.
Do you really think it would work between more than thirty separate countries all doing their own bidding?
And how can a country speak of sovereignty if it is dependent on such a basic need as energy on a handful of foreign suppliers? By having the freedom to freely decide the TVA for tampons? By deciding freely on bottle caps ? Really ?
But answer me this: with all the problems that Germany, France, Italy ... might have, how will Brexit reduce the effects it has on the UK ? By being a member of CPTPP with a prediction GDP gain of 0.04% in 15 years ?
How ?
So far Brexit made the UK even more dependent on food imports thanks to the "wonderful" trade-deals with Australia & New-Zealand, countries on the other side of the world . What a joke.
And finally this: a handful of remainers predicted the sky would fall, but ALL Brexiteers predicted a utopian future. ALL Brexiteers. So trying to justify yourself with what a handful of remainers said while ignoring what the Bank Of England, Reuters, Goldman Sachs, OBR, ... have CORRECTLY predicted is ..., hypocritical and cowardly denial.
And that prediction was:
# 4-6% less GDP
# 1.5% less efficiency (every year)
# more inequality(which is already the highest in Europe)
# SME's having more difficulties accessing EU's market (or 85% of their pre-Brexit market). A third that was exporting to the EU already have stop doing that.
# reduced investments (double digits since 2016)
# a devaluation of the £ (12% in 2016 and not recovered yet)
...
But hey hoy, you have the prediction of a crackpot that UK's economy will be 30% bigger than the one of France in 2035.🤣
@@jimmagspanton669 No, I do not just look at google. I'm looking at specific sources, like UK's own OBR, Reuters, ....
What are you looking at ? Where comes that 30% from ? Tell me. Out of your behind ?
And also tell me what advantage Brexit will give the UK in relation to those problems of France, Germany & Italy you were ranting up. What and how ?
Because if you can't answer the last question, why did you use them in trying to justify Brexit? That would be just plain stupid, wouldn't it?
And I'm an engineer, I do know how to analyses data. Better than your pro-Brexit media (which seems to be your references of "truth") like the Daily Mail, Daily Express and even The Telegraph who doesn't even take inflation into account. Or those "wonderful" Tory pro-Brexit ex-MP's who thought that a lower inflation means a lower price.
So, what and how will give Brexit an advantage to the UK in relation to those problems in Germany, France and Italy ?
Surprise me with your wisdom.
Labour will indeed turn the country around and there is no doubt they will succeed in accomplishing this.
A country the size of the UK is not a speed boat-it is a super-tanker. The change will be painfully slow. The populace needs to know that-and stay patient and on course.
@@tomkenyon3721 get your prescription checked you starting to hallucuniate.
@@jonzu217 the prescription worked perfectly at the GE and it's the likes of you who now have to live with a Labour government whether you like it or not...what a shame.
@@tomkenyon3721 My reason is that Starmar will not address the key issue regarding the British economy .
@dogglebird4430 "I agree" I had to read that twice lol Maybe I will say there is too much of the wrong sort of immigration. The unskilled Labour Market is shrinking and AI will have the same impact on the service sector as Thatcher's policies had on the UK's industrial base. So bringing in unskilled Labour will only in the long term increase the number of the unemployable in years to come.
Even in the first few weeks ,Michael, this Labour government has looked way more professional and more dynamic than the Tories ever did in fourteen years. Whether or not this will continue or whether any of their plans will come to fruition is another matter entirely. Time will tell, I suppose. For the moment though, I prefer to remain cautiously optimistic.
Turn of the tv 📺 zombi 🧟♂️
Current affairs is not your bag.!!
@@NonConformist-ys4wr And now in English?
@@vincentblack7467 Looked in a mirror lately?
Yet another brilliant blog Michael
We need to rejoin the EU asap
Keep up the great work
"We need to rejoin the EU asap "
Well joining is going to take at least 15-20 years, a.k.a. a generation.
Thanks 😊
Britain needs to take a realistic look at it's status and get rid of the delusional claims to "global relevance". These delusions cost a fortune to maintain and involve Britain in potentially catastrophic risks. The first thing Britain needs to do is unravel Thatcher's crazy privatization policies and take all basic utilities back into national control. Britain is hemorrhaging money to foreign entities who have no interest in the health of the British State. The French particularly won't like it; British electricity customers are a cash cow for the French State. Then the education system needs overhaul; universities need to be consolidated and assigned particular research tasks. The most important areas of interest are obvious; nuclear power is #1, followed by robotics and AI, there are many others. The best approach is by cooperation with other political entities; obviously the most important being the EU. Cooperation with China is also vital because China is now the world's leading technological power. It would also help to revamp the electoral system to more accurately reflect the nation's politics. And leave the House of Commons and the Westminster monstrosity to be a tourist curiosity. Britain should build a representative chamber reflecting adult values rather than the juvenile antics of public schoolboys, which is what the H of C is now. Economic growth will follow.
Not anymore . I left EdF. Lousy services. With Octopus now!
it was not squandered,
it was stolen!
Brexit was a con job by con men and the majority realise this .The decisive voting out of the Brexiters that got us in this mess gives Starmer an absolute mandate to destroy Brexit. Starmer hopefully will surprise everyone and just get it done , only time will tell . If he doesn’t, he will fail , it’s that simple . If he does he will truly become one of our greatest leaders .
"the decisive voting out".
That isn't what the election outcome says, only if you look at the ridiculous fptp seat appropriation.
The actual mood is better reflected in the popular vote, and that says that part of the brexiters moved to reform, part stayed with the to tries and part just didn't vote.
That doesn't sound "decisive" at all, on the contrary. It still shows the country is more or less split in half, which is what most polls say as well
FOR HEAVEN'S SAKE ! You can't rejoin the European Union ! It's not your choice and never will be. When britain joined the original Common Market, there were a handful of members, and it still took eleven years to convince them to agree to have you. Now there are twenty seven member states, and you have proven beyond any possible doubt how untrustworthy and mendacious you are and that you have absolutely no concept of the true European ideal. You voted to leave, you left ! And we don't want you back ! Why would we ????
Kier Stalin will surprise only those who viewed him with misty eyes, as some great saviour. He’s better that any Tory leaders, but that’s not a high bar.
@@brianferguson7840one excellent reason to support Scottish independence
Enjoyed the video micheal, was great to see to see starmer and our man Simon harris chating and meeting up with a pint of Guinness last week,hopefully we can get relations between 🇨🇮 🇬🇧 back up and running again,💪💪💪
I think Reeves et al know very well how difficult it's going to be, they're just trying not to frighten us.
Thank you, Michael. Excellent as always. Just want to add that I find it staggering that NOBODY it seems, will be held to account (face serious investgation) for the often corrupt expenditure over the last few years. Eg. Rwanda, (Kagami must be laughing in his palace) test & trace, PPP equipment - or whatever it's called, tax avoidance by the super-rich. The list goes on.
As for the EU - Starmer's BIG mistake is his continued 'support' of brexit, whether he agrees with it or not.
Britain's version of MAGA really stuck it to themselves.
The problem was the Tories weren't MAGA - that's why they lost 4 million votes to Reform UK. And that's just the start.
Labour should have scrapped the two child cap on day one of taking office. It is cruel and heartless. Starmer talks about having a review into poverty, thousands of children could have been lifted out of poverty straight away. The govt have committed to providing Ukraine with three million a year, is that within Rachel Reeves fiscal rules ? removing the two child cap would cost around two billion, its shameful, I thought Labour were the party of the working class but not anymore. Starmer may be "forensic" but he is also ruthless and an authoritarian. He has suspended seven of his mp's because they voted to scrap the two child cap, which means he won't tolerate any descent. I hope they will make positive changes that benefit everyone but that's difficult if they want to spend as little money as possible.
I meant to say three billion to Ukraine not million !
They aim to. It wasn’t in the manifesto so the press would rip them apart if they don’t do EVERYTHING by the book. What don’t you understand about our press and media? It’s not a cap on child benefits it’s a cap on uc payments for two children and upwards.
The only person happy with the Brexit deal was Bodger Johnson. It was a truly awful deal but fortunately for him when the going got tough he could just walk away from it and look at the mess were in now ☹️
So what do you think the EU should have given the UK additionally? You got a very sweet deal, and that isn't enough?
Not forgetting his & CAMERONS "string pullers". The shady billionaires & millionaires who engineered Brexit to protect their wealth & reputations from the UE Tax Authorities. These slimey individuals OWN the Tory Party, so it was quite easy for them. But the clever bit, was convincing 52% of the voters, they had, "won a great victory for Democracy" ! Some of whom still believe that, despite the hard evidence.
🍞 and 🎪
So you think a no deal would have worked better for a country that can't feed itself or even make a bicycle without imports from the EU.
You can wave your little flag as much as you want, the UK was, is and will always need the EU if it does not want to revert to the situation in the 70's: the sick man of Europe.
To the people swooning about our brilliantly growing economy in comparison with the EU, and who have not seen Michael's videos on these poor EU countries in decline (Irony alert). Economically in the UK, who is growing, what is growing? Financial services. Who is benefitting? the very rich. I do not give a monkey's what the growth is. I care about average Joe's life getting better. One thing is sure: that has not happened under the tories, and even less so since Brexit started kicking in. What we have seen is tory chums getting preferential treatment during covid, corruption and money laundering. As Michael is saying: half of the world's tax heavens are UK controlled. Where is our money? If trickle down economics worked, Victorian workers would have been affluent. Michael Lambert has a business, selling THINGS not financial services. Liz Webster is a farmer. I could name a few more. All complaining of how Brexit is harming us. Those are the businesses which actually feed us. Conclusion: if they are not doing well, feeding will become an issue
Thank you Anne 😊
Great commentary here. I agree with it all, especially your point at 05:45. The totally ineffective test-and-trace system was the biggest waste of public money since the 1950s (with the entire Brexit project coming a close second) and it was brought to us by the party who, supposedly, prides itself on being such marvellous stewards of public money.
In truth, the statistics show the Tories were never any good with the economy.
@johnwright9372 And there are Lots of interesting Articles on the Web that Actually confirm your point. The only thing Tories ARE good at...is controlling the Media to Spead their Lies......
@@johnwright9372 But this is not what the newspaper headlines tell us !
Whenever the dire state of the economy is discussed as it was today (BBC radio4), the war and Covid are wheeled out but never is Brexit mentioned. Weird blind spot? It’s understandable that the Tories would be in denial, but Labour too ignore this.
SNP are about the only party which brings it up
Michael, as a Dutch Watcher from the Amsterdam area, I am following you for many years. I was so sad in the years after Brexit. I was Growing up with the lovely James Herriot series, the English villages with flowers, the gardens, the shops of ‘Past Times’. It is all gone. Like many others I don’t like visiting Britain as a tourist any more. But now the new government of adults gives hope. Carry on with your video’s!!
Thank you Casper 😊
Well said Michael. The government needs to thinkl long and hard before letting private companies, often foreign., from running utiliies. Remember how PFIs ended up costing the country large sums even after they were no longer used.
3 years ago the LCU published an independent study which indicated that every extra Tax investigator employed by the revenue service, if left to work with no restriction within the income and acquisitions regulations for British citizens could recover between 140 and 800 times their own annual salary in undeclared tax revenues. Each and every year.
There is nothing wrong with the "size" of the economy. Its the structure and priorities of the economy that's more the issue.
I'm being told all the time to give them a break. I think the time is now to set the agenda. Thanks for this Michael.
Thanks, Michael!
Growing from a low point is easier than growing from a high point.
Growth unfortunately is not 'almost' impossible, it is actually impossible, not only is it impossible to grow the UK economy while in it's current circumstances, it will continue to decline, untill it reaches the same leve, or slightly lower, l that it was (relatively) in the early 1970's. It may even be worse than that.
Allow me to explain.
In the 70s, trade volumes, worldwide, were much less than they were in the 2000s. But, after joining the EU or at that time, the common market, we began to export vastly larger volumes because the ease of exporting to France, West Germany, Spain, Italy etc. increased the possibilities because of the shorter distances, compared with ROW trade. We also were now able to import raw materials more easily, making new products viable and increased profitability all of which spiraled ever upwards. In the eighties production of goods began to level off, but financial services increased dramatically. ROW goods trading has stayed at 1970s levels until now, but without EU trading terms with, say, US, we now don't even have the trade openness there any more, causing that to reduce annually and continually. The UK is screwed. Banking firms are now moving accross La Manche, over 5000 small businesses have moved to the mainland, taking jobs with them, they will not return. This is like having a household, that every day you sell one item from, by the end of the year, you will notice that you have no blankets left and by the end of next year you will be eating with your fingers, and by the end of the year after you wonbe able to cut your grass, wash your clothes or brush your hair. Soon you'll be sleeping under a bridge. This description is NOT a satire, it is actually happening right now, look up trading figures monthly from about 2019 and compare them with current figures, you can see that EVERY SINGLE SECTOR has reduced every year in the UK, EVERY SECTOR. Wake up now, or all you'll have left is flag waving. Even if you have no flags left.
👍
Labour have just taken over. It will take time.
But Remember!!!
Under the Blair/Brown government.
Longest period of sustained low inflation since the 1960s.
Introduction of the national minimum wage.
Increased police numbers by 14,000
Cut overall crime by 32%.
Record levels of literacy and numeracy not reached since.
Doubled funding for every pupil in England.
Wrote off 100% of debt owed by poorest countries.
Increased NHS staff by 85,000 more nurses and 32,000 more doctors.
Devolved power to Scottish Parliament and Welsh assembly.
Introduced statutary paternity leave of two weeks.
Record number of students in higher education.
In Labour's last year of government, gave 828 million pounds of gift aid to charities (this exceeds the total amount given by the Conservatives in their entire period in office)
Raised child benefit by 26%.
Delivered 2,200 'Sure Start' children's centers.
Introduced the Equality and Human Rights Commission.
Pensioner's winter fuel payments of £200 or £300.
The only European government on course to achieve Kyoto targets (at that time).
26,000 new teachers .
All full time workers given the right to 24 days payed holiday.
A million pensioners and 600,000 children lifted out of relative poverty.
Introduced child tax credits.
Introduced civil partnerships.
Over 1 million social housing homes brought up to standard.
Inpatient waiting lists down by over 500,000 since 1997 (NHS waiting lists have never dropped under Conservative administration
Provided the cleanest rivers, beaches, drinking water and air since before the industrial revolution.
Free TV licences for the over 75s.
Banned Fox hunting, Fur farming and cosmetic testing on animals.
Free on demand breast screening for women 50 - 60
Free bus travel for the over 60s.
Labour's New Deal helped nearly 1.8 million people into work.
Free Eye tests for the over 60s.
Number of apprenticeships more than doubled.
Free entry to national museums and galleries.
Overseas aid budget doubled.
Heart disease deaths down by 150,000. And cancer deaths by 50,000.
Long term youth unemployment cut by 75%.
Watch and see.
Good work Michael... agree totally... Josef Stalin quote: "In capitalist countries there are several parties. there is not much difference between them -- all of them stand for the continuation of exploitation - but one party criticises the other. When a party in power missteps and masses get disaffected the party is replaced by another......."
Thank you Mary 😊
Just before we left school we had career advice. When you leave school you need all the help you can get, especially if you’re not going to university. So that is a good call. More teenagers should also consider training up as a trade. Not everyone is cut out for university. 👍❤️👍
its getting people to train them dont forget serving an apprenticeship takes as much dedication as a degree and at least 3 years hard word learning dont forget if you are training as a bricklayer one brick out can make a whole wall building skewith but we do need more skills training
Always money in plumbing. Electricians are always needed. Also chartered accountants.
What we have to take into account is that this is a government of apprentice’s and training on the job is the order of the day!!
Once again Michael sounds like a wise old sage merely by stating the bleeding obvious.
Hi Michael I do watch your posts and agree with quite a lot. With Brexit your perfectly correct and anyone who says we're better off out simply hasn't looked at facts and figures. I don't think the country will make it without going back in but I don't think regardless we can really get that started up with Europe unless labour win a second term. Labour could do all the groundwork then lose the election. Them the Tories could just change direction. I think tbe labour party has been doing a lot of work behind the scenes for a long time. The Tories have had 14 years and Labour haven't even had 14 weeks yet.
Would it not be better to deal with the causes of mental ill health?
Now trillions of dollars in losses... and what did the brilliant Brexiteers get out of it all? An amazing dollop of "Sovereignty"... Oh well...
Uncle Michael, you, me and Keir wear glasses. We are serious people. Thank you for your balanced and considered review of our new government's performance. As for Europe, as the polls for rejoining get stronger, I think our government will move faster, but it is a job that will take decades for us to be sufficiently united to be considered a good bet for the EU. Meanwhile we must do what we can to grow our economy.
I wish I could be more hopeful but I share your pessimism and frustration. Sadly, Labour will find it virtually impossible to maintain the current situation, bad as it is, over the next five years. They can tinker around the edges but the damage has already been done.
Given the distrust created by the previous Administration. What foreign investors are likely to be interested ?
It’s sad “Time is a great healer”.
they are impressive indeed.
whats the point growth if the extra money is finding its way into fewer and fewer hands.
Thanks
Thank you very much Phil 😊
They'd have to create a new national grid and phase out the old one making it non-profitable.
As you say the govt looks sensible. I'd like to see media reform to take down the off shore right wing press narrative and then we can push back seriously on brexit to try and win back 40b in lost tax revenue.. we must join otherwise get used to being much poorer..is that what labour wants?
@@markgoestofrankfurt Joining the EU will take at least 15-20 years!
@@marinusvos Mogg will be uplifted by the thought
Brexiteers promised everything to everyone to get people to support Brexit.
Brexiteers promoted Brexit by stating conflicting and contradictory statements as facts.
Brexiteers and Brexit supporters were fixated on 1.27% (net £8.5 billion of EU membership) of Government spending in 2016.
The 2016/2017 UK budget was £676 billion.
Brexit within a few years has already cost the UK trillions of Pounds and Brexit has already cost the UK more than all the EEC and EU membership contributions combined.
It's wrong for the EU to sanction and seize Russia's assets as it means others can sanction and seize EU members assets in retaliation.
The only benefits to Brexit is to make some immensely wealthy Tories and their billionaire donors even richer.
The gammon right wingers will be seething with the scrapping of Rwanda and bibi Stockholm, the echr pledge will blow their angry minds which is all good here, if they are angry we are moving in the right direction, its a good litmus test, great video Michael i couldn't agree more with the points you make.
@martinburn yes if the gammons are annoyed you know correct decisions are being made.
The Bibby Stockholm was built as accommodation for oil and gas workers, who found it very satisfactory. But the illegal immigrants said they were too scared to live on it as they are afraid of water. Despite having crossed half the Channel on a rubber dinghy.
@@ChuckY229 It was clearly not suitable for anyone to stay on
Legionnaires disease amongst many issues. Saying they were afraid of water is a lie.
Thank you Martin 😊
@@ChuckY229 Maybe that journey has induced fear.
Good morning 👋
Let's give them a chance and judge them on their actions over the next year .
I think the point of Michael is that UK govt has only very limted options in what it realistically can do. All plans are irrelevant when there is no money to fund them.
Hi Michael. Hope you are well. The damage of Brexit has been severe for everyone. If this change of government can mitigate any further negative effects by outlawing the exploitative casual labour laws and the use of zero hour contracts this might scale back the rent arrears and dependence for those working poor on food banks. Naive maybe but there has to be a real change.
It is totally justified not to be over optimistic, but one must also guard against lingering pessimism. You are right in assessing how difficult it is going to be for our new government, we all have doubts and many of us would like a more determined approach about reversing Brexit, and growing the Economy... but... none of this can happen in a hurry. As you rightly say, it "will take time". We must swap hopeless frustration against patience and encouragement. We need to keep gardeners skills and protect whatever green shoots come out first until they can be planted and replaced by other green shoots; we must fertilise and water and keep an eye on the weather.
Why we should exercise utmost patience along with self and state protection, is because we do not hold the reins forthright. Europe is ailing too, the world is much more uncertain, some conflicts will burst while others will subside, new ones will appear... Some leaders might come and others go - not necessarily to our liking - while certain businesses will be raised and others collapse.
The political, diplomatic, military and economic zones of turbulence are moving very fast. None of us know what tomorrow, next week, month or year will bring. So at least... if we and the government are positively intended, then patience must be exercised, and hope needs to be allowed.
Just under £5B will get you a dysfunctional aircraft carrier.
Total waste of money they are just easy targets to hit,modern warfare has changed!reality check!Look at Ukraine conflict!?We waste money sending british tanks there to get destroyed by drones!?Ukraine is a corrupt toilet!
How do you do you find an air base in the middle of the ocean that can move and is surrounded by several highly advanced stealth fighters with long range missiles, advanced destroyers and other specalised surface ships defending along with patroling submarines?
How do you keep track of this mobile thing long enough to attack it from several hundred miles away consdiering it will take at least several munuites and possibly hours for any weapon to reach said ship.
No, actual warfare is not solvable by a youtube randomer sat on the toilet during his lunch break. Lol
@@AvocadoAfficionado No idea what you're on about.
@@mindless-pedantI know you don't mate, it's ok. The real world is complicated.
@@mindless-pedant I know mate, it's a difficult problem and you don't like thinking too hard.
The only way we will see growth is either to rejoin the single market and/or customs union. Starmer needs to understand that the EU will NOT allow the UK to cherry-pick the best part of EU membership while being 100% outside of the single market and/or customs union.......IT'S NOT GOING TO HAPPEN!
And the EU won't let the UK join the single market and/or customs union.
Well since you have to be a member of EU to be in the single market and customs union of EU there are really no other alternatives. 3 EFTA countries have single market access through the EEA agreement but UK cannot become a signatory in the EEA agreement outside EU or EFTA.
@@trident6547 You're WRONG. Switzerland is not an EU or EEA member but is part of the single market.
I hope it is going to be a back to the EU in all but name.
Cap on two kids still wrong though...
There’ are probably good economic and legal reasons but can someone explain to me why companies shouldn’t be taxed in UK for the profits they make here, regardless of where their registered head office is or where their shareholders come from?
They are.
But if they are part of a multinational, there are ways to pay the least amount of money where the highest taxes are, and have the larger part of profits taxed in a tax haven.
Think of roaming off profits by burdening the unit in the UK with high fees from the main office for brand, marketing, your fantasy is the limit.
Used to be that (say Cocacola) UK - paid a license to Cocacola, LIchtenstein for the use of the trademark/logo which the parent company 'sold' to Cocacola, Lichtenstein for a relatively small sum. Presto-hey! A huge amount of UK 'profit' goes legally to Lichtenstein. Not sure if they still do that.
@@AliG-iq4gd yes, every multinational does that. To the limit of the rules, and sometimes beyond.
The simplest way out of this is to simplify corporate tax rules and base the taxation entirely on gross receipts. Whatever the amount is that the corporation gross earnings are in the UK they pay 20% tax. Forget about all the deductibles, depreciation, etc. All that is an accountants dream for evading tax.
Exactly Michael. No unfunded spending??? So how are they (Labour Government) going to get economic activity if the U. K. isn't doing business in/with the E. U.!!! Who's funding Labour NOT to move forward with being 'free' to trade with the E. U.???
Follow the money leading back to the Members of Parliament. Who funded the FRONT BENCH??!
What’s the chances of getting test and trace money?
Zero. Virgin islands?
Shocking figures on businesses basically bankrupt or struggling financially; almost 600,000 in total. Like you, Michael, I can’t say I’m surprised. As you rightly say, no one has any money. No one, but the richest 1% of us at any rate. Increasing the financial divide seems to have been the one thing the Tory government did achieve. I’m so relieved they’re out. Everything is broken, but it’s clear Labour have been working on their plans for a long time. You don’t hit the ground running in the way they have without putting in the leg work first. I’ve been impressed so far. More so than I expected if I’m honest. I knew they had a strong team. They’ve one hell of a mountain to climb that’s for sure and these recent reports show it’s worse even than they or most of us thought. I think they’ve already made decisions in the right direction, but if they can’t slowly turn things round, decline will continue and we’ll be back to being the sick man of Europe once again. I’m remaining positive and hopeful that won’t happen.
The problem that I see, is that any improvement to people's personal financial positions (given how many struggle to feed themselves and keep warm), will result in significant inflationary pressure, due to lack of supply in the UK economy and difficulty in importing the extra required.
Great video, thank you, Michael. Hopefully, an improvement in our trading and economic position, regarding our nearest and largest trading partners, will help to grow our economy. It will obviously take more than a couple of years to improve our terrible economic situation, and only partially recover from the enormous economic damage inflicted upon our country by the corrupt Tories, and the brainless Brexit fantasy.
Seem to be alot of tory bots commenting here!!
They are the unemployed tory politicians I suspect. 😂
What will be done with the men on the Bibbi Stockholm then?
Bibby this and bibbi that. Bibby hotel network? Bibby prefabs. Bibby Bnb (air).
You start growth by giving the poor extra money.
really ? doesnt that make them work less, and the people you took it from, they work less too ?
And wherendo this money come from? Taxing the rich ? Still not new money coming in the system
Actually, we can all get rich by just printing more money.
@@MrAlb3rtazzo is pays itself back with a combination of the multiplier, and the extra taxes coming is from the growth. It’s what Roosevelt did with the new deal.
@@ChuckY229 that doesn’t help, because growth is measured in real money, it’s corrected for inflation. Printing money is inflation cause the total production states the same same
Agreed ....we have to join the single market or there will be no growth....ever .....Starmer needs a light bulb moment on this ....let's see how long it takes.
I think you need the lightbulb moment on how you'd rejoin without every gammon, newspaper and mouthbreather in the country going thermonuclear.
Realignment and new agreements will be the way forward. Its not worth the political capital to overtly overturn Brexit, just let our relationship be defined by something else.
we are currently the fastest growing economy in the G7
Sounds more like it is you that needs a lightbulb moment. For the 100.00th time: 3rd country uk cannot join the SM.
Hi Michael. I still hear Brexiteers saying "you lost, get over it". Many of them have had lorry loads of sand delivered to put their heads in. They simply cannot face the reality, the depth of disaster they have wreaked. This cry for "growth" really conflicts me. £100bn in lost trade every year, meaningless trade deals with countries who laugh at our inability to negotiate deals that benefit the UK, covering the countryside with poorly built 'homes' that serve only to remove any chance of peace and quiet in our countryside, (a vital resource and a tonic for the spirit), road building projects that destroy nature (120,000 trees felled to make a particular junction on the M25 'easier for traffic' when we should be getting OUT of our cars and on to public transport), taking back control while our public utilities, railways, energy generation, insurance, airports and airlines are majority foreign owned. Etc.
Starmer has an almighty task ahead and I wish him and his cabinet well. I would offer a smidge of advice: stop banging on about growth (without attending to the EU issue) and talk about 'repair', renewal and unity.
The Tories' legacy must not overshadow progress. It is the future we need to address not mantras from the past. The past is another country, one that is barely recognisable to us ordinary Brits.
Keep up your great work Michael. 👌
Thank you Michael 😊
I had not been back to my Dentist for ten years. Recently a back tooth started to play up and I was forced to go. I phoned them and received an appointment straight away. My lovely Dentist whipped tooth out and gave me four more appointments to create small denture and replace one for top. They look natural and it was nice to see him again every week. I wish I had more appointments to go.
Thank you for video🙌🏻
There has to be more to the plan than growth. It will take time to train the people we need unless we recruit migrant labour.
Starmer is right that the only way the UK can tolerate is growing out of this Situation-the problem he has is doing it in a shrinking economy, that has cut itself out from its biggest market.
The money, the gifted people, the companies and factories are leaving the UK.
Some to the EU.
Some businesses simply has to close down or scale back.
The UK still is in a nose dive, and it will be for some years more.
A country like the UK is like a Super--tanker -changing course takes time.
It will be a long time before things can be better.
But you need to start now, and creating trust in the UK again is one of the first priorities-you start from near to zero here.
Creating more revenue for the UK state is one of the first steps you need to succeed in.
Without it, you can not do a thing.
You need to tax those that robbed that country.
But they are very good to fight that, that has their prime pastime for decades and decades
you cant tax you way to prosperity
@@garyb455 That is true, but austerity didn't work, either, it has been tried for 14 years.
You need some money to start investing. The UK has 104% debt to GDP-so borrowing doesn't work, either.
The low Taxes were financed by borrowing.
How long can this go on?
First rating agency has downgraded the UK already.
So what goes?
@@garyb455 Depends how that tax is redistributed and from where it came.
Mick they are playing catch up.
He's not interested in UK he has been abroad since election
It's simply false to say Brexit makes growth impossible. It's more accurate to say it reduces the overall rate but it certainly doesn't make it impossible at all.
The thing is what kind of growth do we want and Reeves seems to be betting on doing it by concreting over the whole Southeast.
Looking from the outside it is saddening that those Labour plans sound a lot like Johnsons 40 new Hospitals and seem to be about as likely to happen.
Maybe Labour isnt as cynical as Johnson who from the start never intended to deliver on his promises - but then i think how can they not see the difficulty with promising e.g. a lot new dentist appointments without having the needed dentists available ?
If anything Labour has said sounds like Johnson that's on you and not really based in reality.
I've not seen Starmer hide in a fridge, heard him sing along to "let the bodies hit the floor", read about his extra marital affairs or had to endure being sacrificed by him on the altar of capitalism in the middle of a pandemic.
Every single announcement has been funded, sensible and built on tangible foundations that actually exist. That's a lot more than what we've had in the last 14 years.
@@AvocadoAfficionado So who will be pulling those last teeth out of the shabby english mouths, since the OP is right when claiming there aren´t enough dentists available?
@@ab-ym3bfI see my dentist several times a year, she's a fantastic person. 0 issues.
@@AvocadoAfficionado good for you. Others seem to have different experiences.
@@ab-ym3bf other have different lived experiences? Colour me shocked.
Your anecdotes aren't data, there are plenty of dentists in the UK. Their distribution leaves something to be desired however. Unsurprisingly nobody is rushing to set up shop in decaying seaside towns.
Dear Michael, it must be a burden to tell people what the realities are, when (notably some posters over here put) their fingers in the ears and sing "We are the champions" badly, admittedly.
You make a good effort in trying to get them to understand.
But I am afraid, they will not understand until the situation is so bad, that reality can grab them at their shoulders and shake them until even the most recalcitrant have understood.
Sadly thee will be deaths in that process.
They say " Never say never " and whatever Starmer may say he will move ever closer to Europe as things develop, what else can he do ? He'd certainly be wrong to rush things to start, he has to woo Europe and still keep on board as many voters as are willing to go along with him.
great video Michael..................tax,tax the rich
Good evening Michael.
Sorry I have no faith in Labour, he refuses to face the biggest problem Brexit, his refusal to say we are not going to try and rejoin the EU I find it horrendous, I understand their is a big mess to clean up, one of the things this week was the 2 child benefit,I was disgusted he is not going to change it, I think he is full of empty promises, as an older person I feel for the younger generation,I live in Scotland 🏴,does anyone blame Scotland wanting independence,I don’t
Because everyone goes mental when you say the b word. You can realign without rejoining and sign new agreements without reversing old ones.
It'll happen because there needs to be growth before you can spend and uprate benefits. And you cant grow if you dont trade. You just won't hear anyone advertise ithis because why work up the rightwing press already?
You lived through 14 years of tory inaction, but are giving up after 1 week of labour rule becuss they didn't immediately resolve the hardest, most complicated, divisive and expensive problem and instead went on a low hanging fruit blitz to allow people to actually experience change quicker.
Room temp iq takes. An independent scotland would still be the same country a week after they left the UK.🫠
Until all mainstream parties agree, joining is NOT an option.
You need to understand that.
How is the SNP doing these days?😄 Riding off into the sunset in their motorhome, paid for with cash stolen from the mugs who joined the party🤣
@@ChuckY229 1 motorhome ...is that it.
Michelle mone...personal gain of 30million. How many motorhomes could that buy.
The SNP are not the be all and end all.
Scottish independence will happen.
@@verystripeyzebra All mainstream parties do and always have agreed. It's the EU that won't have us back. Would you?
It would great to rejoin the big thing to that is does the EU want us back ?
They do but only when they know there's stability in the UK and the UK can be trusted. It will take time
Yes but only when the two main UK parties agree with joining under the EU terms and sticking to them. Good luck with that.
Only if there is a clear majority and British exceptionalism is over. Not a big chance there, the gutter press has the UK population by the b@@@@.
They will increase taxes and implement de facto austerity. This will take us in to recession.
Let's hope they tax the very rich asap. They will not take us into a recession, think again.
If the Democrats in the US get elected they have suggested an increase in the tax rate for people earning over $400,000 per year! This will allow them to decrease taxes for the poor people. The economy is already in expansion in the US, so now they can afford it!