Growth has disappeared - so what is Rachel Reeves going to do now ?

[@barryc1968]

We don’t need figures we can see it with our own eyes.

[@JacksonFairweather]

We can see the crumbling roads and infrastructure falling apart…it’s obvious no money has been invested for 25 years+

[@alanknight8439]

You cannot tax your way to growth.

[@jncg2311]

Nor can growth come from wealth stagnation, but you can create growth by spending.

[@garyh1572]

No, you grow by investing. Something the Tories have failed to do over the past 14 years .

[@Ma55ey]

We live in a world where government will not invest. Instead relying on the private sector to do it... which is why everything has gone to sh1t in the last 40 years. When a government won't build a power plant because it doesn't think future generations should foot the bill, the country is dead...

[@jncg2311]

​​@@adenwellsmith6908 You can build assets. Housing, transport infrastructure or essential service such as water supply or treatment for example. This is debt creation backed by asset generation. What is not sustainable is borrowing to fund services or tax relief. The latter particularly is removing the support out from under debt. See the Truss debacle.

[@garyh1572]

@@adenwellsmith6908 We did after WW2 - AND IT WORKED !!!!

[@poesie6279]

WHY ARE WE PUTTING UP WITH THEM!?

[@jncg2311]

The mega rich and foreign property investors, hoarding wealth and stifling growth in all but property where they hold much of their wealth? Or the private, often foreign ownership of essential services like water and energy? I have no idea. We ought to do something about it though.

[@poesie6279]

@@jncg2311 something has got to explode because we are being treated as expendable, which already many poor people/victims have become.

[@richardscott6606]

Growth by taxing the private sector to death. She’s an absolute clown!!

[@iainadam1005]

Rachel from Accounts can't hear at the moment as she's got head head in the sand, but don't worry she'll think of some excuse or other for more imaginary (growth) in the coming years.

[@bigbarry8343]

Not quite - ther are quite a few PPPs she is subsidising, its redistribution from undesirables to desirables.

[@MrDoyley35]

Raising taxes and expecting growth is utterly absurd.

[@charliemoore2551]

That depends upon whose taxes and which taxes you raise. Redistributive taxes will certainly result in growth. The poor spend money while the rich "save" it.

[@william_marshal]

Nonsense, the trouble with raising taxes to pay for the services that everybody needs, is that the rich react negatively. Maybe it's time for the government to stop the golden pension tax giveaway for the rich. Why should the state give the richest in society tax breaks. Stop housing benefit, which goes straight into the pockets of rich landlords. Reeves has many options if the greedy rich want to manipulate the economy.

[@petebateman143]

You don;t listen to Richard much do you? Otherwise you wouldn't make such a simplistic statement.

[@MrDoyley35]

Sorry I was referring to the taxes raised in the recent budget. Particularly the national insurance threshold. That was a very general tax burden which has hit growth across the board. Especially for small to medium sized businesses. Businesses like restaurants, child care and care homes which employ high numbers of people relative to their turnover/profit margins. These businesses will now limit investment in growth, taking on new employees and pay rises. All of this will hurt the real economy and is a big factor in why we see no growth following Reeves’ budget.

[@MrDoyley35]

@@petebateman143 I do listen but don’t agree with everything said. I’m not a sheep.

[@aaronogden9900]

I’ve work in a main Post Office in a town centre for the last 5 years and not only is the town quieter, we have been fairly steady whereas usually at this time of year we have queues you never see the end of. Turns out if the rich have all the money, everyone else stops spending the money they don’t have. Shocker!

[@billB101]

Town centres have been dying for decades now.

[@robertreynolds580]

Yes, people don't realise that shops make most of their money in 3 months of the year. The rest are loss or break even at best.

[@gio-oz8gf]

Your town must have been different to every other UK town for the last five years. News outlets have been reporting on empty units and dying town centres for years. Are you sure you weren't dreaming?

[@janeknight3597]

And the price of stamps is ridiculous!

[@Nimboid-20]

@@janeknight3597 That's down to "Royal" Mail, not the Post Office. They're not the same thing anymore! (Could that be part of the problem?)

[@IMBlakeley]

The continual chase for growth in a closed system cannot end well.

[@SlowhandGreg]

You invest and improve productivity

[@Bristolcentaurus]

@@SlowhandGreg but who has the money? if the proletariat has no money how is going to buy ?

[@SlowhandGreg]

@@Bristolcentaurus Labour are in the process of improving productivity with its NHS review and investment in renewable energy

[@davidmcculloch8490]

​@@SlowhandGregBeing seen to something, rarely the right thing, never enough.

[@skyblazeeterno]

@@SlowhandGreg LOL as if Labour are going to invest

[@stewartrutherford1436]

Labour is ringing the death knell of the UK and seem to be proud of it.

[@garyh1572]

No, the Tories killed the UK over the past 14 years. Labour are just tidying up at the end of the funeral.

[@onsendiva4695]

Put the blame where it belongs - the Tories have run this country into the ground over the last 14 years starting with their thoughtless and ultimately self defeating austerity, they then continued with the buffoonery of Boris and the kleptocracy of covid procurement (15bn of corruption!) and the nail in the coffin was the utter imbecility of Truss/ Kwatenomics, with 'whats-his-name' doing a banal PR dance over the coffin whilst rolling around in his wife's money. We've had 24 WEEK of a labour govt and it is sure as hell is no worse than the previous Tory ones

[@poesie6279]

@@stewartrutherford1436 but there are so many of us, we aren’t completely without power, together we should be a force. This authoritarianism is creepy and very worrying. So many people get their news from unreliable sources in between the soma of TV. Now we have the left and the right hating the government, which is also worrying as the extreme right are opportunists led by unsavoury characters, taking advantage of the dissatisfaction, unlike the left who are concerned with equality and democracy.

[@kevinsherwood5304]

Allah Akbar

[@anthonyduncalf-uk]

The country is too expensive to live in. House prices and rents are too high. Commercial rents are too high so businesses can't survive either. We need a property price correction of at least 50%.

[@burn_burn_satellite75]

That’s what happens when consumer capitalists, who want to live in a consumer capitalist economy become the self made victims of consumer capitalism.

[@Flame1500]

Its sad because virtually every single increase in living standard we have gotten (cheaper food, consumer goods, white machines, cars, etc.) had simply been swallowed up by property prices

[@sebastianbywater2445]

@@Flame1500 Maybe the government should have controlled the demand for property in some way? Where are all the immigrants going to live?

[@3thinking]

With nearly a million net migration in? Not a chance, more like 50% rises.

[@bigfisher4354]

@@burn_burn_satellite75so what alternative do you propose?

[@maximusmeridius1240]

Rachel from accounts , the country is doomed to failure.

[@william_marshal]

So say the right wing ... the same crap as always when Labour are in power.

[@TheresaWhite-y5i]

Since Brexit we are shuffling deck chairs on the Titanic.

[@JohnPark-xf2gq]

To be fair, she did an excellent job stocktaking the paper clips.

[@billB101]

As opposed to Murphy, actually from accounts. 🤣

[@kenpie474]

Rachel from accounts, her days are numbered.

[@reriuqne0-ny1er]

If you want enthusiasm, first you need to be enthusiastic. The dismalism of the Labour Government has been been disastrous.

[@raindancer80]

100% - They were so focused on letting people know what a bad hand they'd been dealt that they convinced everyone who could not to invest in the UK and everyone else to feel like shit.

[@shadrana1]

The truth is the government are borrowing too much money and have too many administrators.Reeves is a slow burning version of Liz Truss.

[@william_marshal]

Bullshite, we get this crap every time socialists get into power. The elites hate it when the plebs are the ruling party.

[@charlesc266]

Pretty hard to be enthusiastic on the back of what went before. Obviously Rachel Reeves showing that she hasn't got a clue perhaps underlines her negative approach of winging it.

[@mydressmemos]

My biggest concern, given the current inflation rate, is how to grow my $300k reserve, which has been sitting stagnant for a long time with minimal gains. I understand the long-term strategy, but with inflation eroding my savings and my portfolio losing value daily, I need to find a solution quickly.

[@winifred-k9e]

Consider working with financial advisors, estate planners, or tax experts. Their specialized knowledge can guide you through complex financial decisions and help you make informed choices.

[@tatianastarcic]

My advice to everyone is this: if you want to grow big this year especially in your finances. Be willing to make investments. Saving is great but investing puts you on a pedestal where you wouldn’t have to worry about savings as you do now. Thanks to my FA, my portfolio is doing really great and I’m proud of the decisions i made last year.

[@LUCIASMITH-d1z]

I've been getting suggestions to use a market expert too, but where and how to find one has been challenging, Can i reach out to the one you use?

[@tatianastarcic]

Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Melissa Terri Swayne for the last five years or so, and her returns have been pretty much amazing

[@JacobsErick-u8r]

Thank you for this amazing tip. I just looked the name up, wrote her explaining my financial market goals and scheduled a call.

[@chriswills9437]

In 2023, the richest 50 families in the UK held more wealth than half of the UK population, comprising 33.5 million people. The UK has very high inequality of income compared to other developed countries; the 9th most unequal incomes of 38 OECD countries (OECD, 2022).

[@mrgrumpy771]

Except the rich have now gone

[@manoo422]

@@mrgrumpy771 They are the lucky ones...

[@branduusituuli]

@@mrgrumpy771 Where have they gone ?

[@1292liam]

the billionaire owned media, tell them (via propaganda IE something they dont see) how to vote ...at elections (of all kinds) and referendums. IE inequality will only get worse, as a result. The people unknowingly vote against themselves

[@seewhatifound]

And socialists keep banging on about this out of sheer envy. Yet Labour go seeking more wealth from individuals overseas to bring into the country. Unlike socialists I have no envy for those that have more than me.

[@OscarBernhardt]

Excellent commentary! Thanks.

[@jeffreychongsathien]

Borrow, inflate, debase. 50 years of this should be a clue.🙄

[@AllanTheBanjo]

Time and time in the election campaign Labour were asked "what's the plan if there's no growth" and they had no answer.

[@alanhardwick9694]

Agreed. I likened it to putting your life savings on Red in Vegas

[@Nick-io9uk]

Plan same as that since 1979 1) More debt 2) More people We can't compete on production in a free trade world, so Ponzi scheme it is.

[@onsendiva4695]

who has the answer to that question - what is yours? The only one the video offers is redistribution - which is the one I would go for. They should have gone for less on NI (e.g. 5%) as companies should contribute to ensure a well educated and healthy work force. Raise bands on income tax but have a sliding scale raise on income tax - for the 3 bands (e.g. 1p, 2p, 3p) to redistribute wealth + in depth review of inheritance tax

[@cp4512]

Labour’s been in office for almost 6 months now. The pathetic excuse of blaming your predecessors is wearing a bit thin now, especially when the economy is now getting worse! It was starting to get better under the Tories……

[@garyh1572]

The Tories spent 14 years blaming Labour.

[@JAYFD2929]

That's why the Tories called an early election. The knew the economic outlook was dire!

[@PinkWitch2006]

You are totally correct in your analysis

[@LivefreeLoz]

Hit 240k today. Appreciate you for all the knowledge and nuggets you had thrown my way over the last months. Started with 24k in October 2024

[@HollyGarwell]

I would really love to know how much work you did put in to get to this stage

[@LivefreeLoz]

I will be forever thankful to you, you changed my life I will continue to speak on your behalf for the world to hear that you saved me from huge financial debt with just a little trade, thank you Jihan Wu you're such a life saver

[@BryonyClarke-e4v]

As a beginner in this, it’s essential for you to have a mentor to keep you accountable. Jihan Wu is also my trade analyst, he has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns

[@GregFunnell-q9f]

Jihan Wu Services has really set the standard for others to follow, we love him here in Canada 🇨🇦 as he has been really helpful and changed lots of life's

[@haldorsonsmolarek]

His guidance allowed me to restructure my retirement plan, resulting in an estimated $700,000 more by the time I retire.

[@The_Almighty_Meepers]

Growth is a dangerous distraction from the function of government. Government should exist to try ensure everyone has the means to survive. Not to be held hostage by the free market and those that would horde all the resources untill those under them are essentially enslaved. The media needs to stop putting so much emphasis on growth and focus on ensuring everyone has adequate food, water, shelter, healthcare, clothing sanitation and transport. And take measures to sure up access to that for future generations to the best of everyones abilities. Especially now in a world where global warming is inevitable due to greedy capitalists and apathetic governments that only have foresight till the next election. I wanted to be jubilant when Labour won. I found I was only relieved that it will at least stay only as awful as it is instead of steadily declining like it does with the Tories. They have to do better than this.

[@christineoconnor155]

Good luck with that. You won't get anything good from the present make up of the "Labour Party". There isn't a socialist among them. They should be done under the trade description act.

[@Tensquaremetreworkshop]

Running a deficit and needing growth go hand in hand. To borrow more and more, you need a rising GDP (it is the ratio the bond market watches assiduously). Running a balanced budget is NOT popular, and ensures failure at the ballot box. All else is detail.

[@cogsnbanjo]

So I take it from you that any form of private enterprise is greedy Capitalism so you are a Communist. If you read your history you will learn that Communism is a failed economic model and responsible for the deaths of over 200 million people. Nice! Keep taking the tablets.

[@piccalillipit9211]

You know how they could achieve both growth and better standards for a lot of people...??? Make private landlords illegal...! Give then 10 years to sell up - if they sell to the Govt at a discount they pay less capital gains tax - the Govt could borrow to buy them cos its an asset. It would not show on the national debt. Make rents affordable - a cut to every renter make it a % of your salary as a maximum, say 30%. THAT would put a LOT of money in a LOT of peoples pockets to SPEND and it would give people the security to make plans for the future

[@Tensquaremetreworkshop]

@@piccalillipit9211 Sorry- you are wrong. They would not 'show as an asset'- that is not how government finance works. Richard did a video on it. It would just be added to the Nat Debt - and cause borrowing costs to soar. Changing ownership would not, in itself, reduce rents- governments would have to subsidize - another cost, and more borrowing. They already subsidize via housing benefit- but at least that is targeted. Many landlords do not make a profit from renting, it just covers their costs. They make a profit from the capital gain when they eventually sell. Do not sell, no profit. Plus, private landlords manage their properties carefully- governments would do it via large contracts- guaranteed to cost more. Housing associations are better, but still more costly than private arrangements.

[@noneofyourbizness]

"enthusiasm" left the building when starmer purged the labour party of all Labour folks.

[@manoo422]

The Labour party ended when Momentum took over and the whole shadow cabinet walked away...

[@JohnPark-xf2gq]

The labour party ended when labour friends of isreal decided that a pro isreal lardy boris goverment was preferable to a labour goverment.no change in that respect from the torys in disguise current goverment.

[@Sujki19]

@@manoo422 would that include many who are now trying to be a government?

[@manoo422]

@@Sujki19 Like who...??

[@Earhairy]

@@manoo422 "Like who...??" Twenty-four members of the Labour Shadow Cabinet resigned in 2016 following the result of the Brexit referendum. It was caused not just by Brexit, but also by dissatisfaction with Jeremy Corbyn as leader, especially by those who never accepted the result of his election as leader. Those members of the Shadow Cabinet who resigned included John Healey, Hilary Benn, Angela Eagle, Heidi Alexander, Ian Murray, Lilian Greenwood, Lucy Powell, Kerry McCarthy, Seema Malhotra, Vernon Coaker, Chris Bryant, Lisa Nandy, Nia Griffith and Maria Eagle, all now trying to be a government.

[@hustlinmagic]

I actually don't think Labour did expect the country to have a bounce. Starmer's talk of tough choices and a difficult budget started very early on. That tends not to be a great when it comes to encouraging people to spend in the economy.

[@swojnowski8214]

what bounce can you have with the most expensive energy in the world. You cant even lift your finger without energy, let alone bounces.

[@Nick-io9uk]

Politicians get all the unpopular stuff out of the way early in their first term. People calling time on Starmer I think are doing so prematurely. He'll certainly last out the term, perhaps longer. then again, he is deeply, deeply uninspiring.

[@JohnPark-xf2gq]

Unpopular stuff done early is a good tactic,but not if the plan is to follow the tory fiscal failed plan because failed plans lead in failure and the only winners will be the tories or the let's pretend not to be tories reform party plc.you wonder we're your money went when you subscide your money in nigels tent.(only thing that would rhyme)

[@witlesswonderthe2nd883]

Fear not as millipede has a cunning plan to use even more of the taxpayers money to subsidise his green baby energy initiatives, we get to cough up billions up front and it just might gives us slightly cheaper energy than we have. He gleefully points out that even though there’s no guarantee of it being cheaper at least we’ll have energy security so that horrid man can’t turn the gas tap off to us. Meanwhile millions can’t afford to hear their homes now or in the future and even if they could the lights would be going off thanks to the lack of supply all these new toys could muster.

[@russellsage8518]

I am 54 and voted for Labour for the first time ever at the last election. Not because I had any faith in the Labour Party but simply to get my Tory MP out. How many others did this?

[@cp4512]

Yep. But never ever again!!!!!

[@Rattlerbrand]

OUT OF THE FRYING PAN ,,,,,,,INTO THE FIRES OF HELL

[@laurencesmith1435]

No, because I remember how Labour destroyed our economy before, how they protected PDFs, and how they sent their people to calais to teach the illegals how to play the system. Also, I'm educated, so would never vote for a bunch of socialists.

[@km4089]

Should have voted Reform, it was obvious what Labour would do.

[@geraldsharpe6378]

More fool you !! You got what you wanted Some of us with no faith in the current duo letting anyone in to the country voted the best option REFORM.

[@noneofyourbizness]

shareholders are still god,so, we're all stuffed.

[@billB101]

Shareholders are abandoning the UK. Way more money to be made in US stocks now. Trouble is though that they take $billions of investment capital with them.

[@Razmatazuk]

So become a shareholder then

[@alexjeffrey3981]

​@@Razmatazukif everyone could snap their fingers and become a millionaire, the state of the economy wouldn't be such a concern

[@malcolm8564]

We're all shareholders if we have any kind of pension savings.

[@alexjeffrey3981]

@malcolm8564 yeah but it's not the average pension holder that we're beholden to. It's the ultra rich.

[@mhobson9478]

Labour don't realize The UK is bust

[@davidgardiner4720]

Only too aware, I think, and who is responsible? Clue: 14 years.

[@dvbow930-w8r]

She stopped the winter fuel for nothing people’s suffering for nothing the stupid woman

[@jeniferdevlin6914]

I hope RR is consigned to political history long before 2029! Tomorrow would not be too soon for me.

[@william_marshal]

Don't get your hopes up anytime soon.

[@leonardgibney2997]

We transferred much of our manufacturing overseas under Margaret Thatcher and have never really recovered.

[@bikusmoto59]

Deindustrialisation. Now it's happening in Germany due to war in Ukrainistan.

[@glynnwright1699]

Nope, it was transferred by Blair. Most of the large industrial companies were transferred to foreign ownership during the last Labour government.

[@JohnPark-xf2gq]

Tony blair thactchers pride and joy.both blair and brown very happy to invite her into 10 downing street.she will welcome them to her new home in helto make a new series of it aint half hot.

[@witlesswonderthe2nd883]

Expect it to reach zero to go along with their net zero goals that no one would’ve signed up for if asked. Germany is in the midst of being de industrialised at the minute so have been decades behind the curve of what happened in the uk but they’re rectifying that at the minute

[@kevinsyd2012]

Manufacturing moved overseas because ever-increasing workers' demands made the UK uncompetitive globally. And the UK remains uncompetitive in almost all manufacturing sectors

[@kennyburnett104]

Wonderful content these daily briefings keep me sane before facing the media circus of biased nonsense.

[@Commonsense-u1h]

The UK needs a Crash programme of council housing.

[@sidsod1616]

Who for? 🚣‍♂️🚣‍♂️

[@heinkle1]

And with what money?

[@Foxtrottangoabc]

Council houses are extremely costly to maintain

[@Commonsense-u1h]

@heinkle1 Try looking Up Keynsianism. If we spend money now It Will generate more in the future. I.e if we build more council housing, that Will generate economic activity It Will Also mean that people Will be spending more money on goods than rent. It's far better for the economy if someone spends money on food or a New Vaccuum cleaner than on rent.

[@YoutubeMoth-bc6sm]

​@@heinkle1it's called Government bonds which are paid back from the profit on the rental income the property generates, exactly how all the original council houses were built an paid for.

[@andrewmallory3854]

It's not growth we need it;s justice. Reeves has to go - as does Starmer. We have maybe 3 years to achieve meaningful change or Reform will gain ground. The only way to crush reform is to bring in PR [ which is counter-intuitive but far more people didn't vote than voted Reform] and tackle the injustice that the right wing exploits to get support. Thanks Mr Murphy for all you do.

[@MarKeMu125]

I feel PR is a dangerous game as it'll ensure Reform get a large chunk of votes, they only got 5 last time due to FPTP. Also leads to splintered parties and aided in making 1940's Germany. I feel the Swedish system consisting of FPTP, PR & direct democracy is the way to go.

[@indricotherium4802]

Agree 100% this country must transition to proper PR to avoid ever greater catastrophe. I'm not sure of your logic though. Far more people didn't vote than voted for any party, including our illustrious new Labour.

[@JohnPark-xf2gq]

I voted for green in my constituency despite I new that green had no chance of getting in.lm fed up of voting for a party that does not represent my views and at best is the worse of two evils.at least with pr my vote will be valued and I think more people will vote for that reason as long as the system chosen is deliberetely made too complicated ads happen with slimey Camerons what must have been piss take of the naive lib dems aspirations.

[@indricotherium4802]

@@JohnPark-xf2gq : we the people must choose the proper PR system the county's democracy needs. It beggars belief anyone would trust the Westminster political class to pick one that didn't work in it own interest.

[@MaximilienRobespierre1]

In Northern Ireland recently, it seems private investment has dropped because state investment has been cut, so Richard is right on the money again when it comes to the importance of avoiding austerity.

[@william_marshal]

In the budget Reeves announced £70billion investment so it hasn't been cut. The trouble with rich people is they never want to invest when the plebs are in power. By doing their bit to make it look like the economy is failing they'll get Labour out quicker. It didn't work under Tony Blair !!!

[@peterteagleteagle9958]

400 construction firms gone skint, This year

[@william_marshal]

The government could employ all those workers to build affordable housing!!!

[@Nick-io9uk]

The bounties of limited liability! I wonder how many of the directors *and wives have clocked up double digits in the number of companies they've been directors of, that have gone bust.

[@ontheslide2339]

​@@william_marshal cheaper to close the border... they won't do either...

[@BrianMurphy-t3u]

We are having the same problem in Australia and it’s because firms took on jobs at a fixed price and the cost of materials has gone through the roof

[@Build_Secrets]

You left out the only sensible option - change the policies. Cut taxes, cut red tape, support businesses to enable real sustainable growth. But you will never find either of our main two parties doing anything sensible like this.

[@col.hertford9855]

The only red tape that needs removing is the ones implemented post Brexit. Most are vital consumer and employee protections. As Richard say, wealth income inequality is the only way to solve the issue. It’s the only one that works.

[@andrewdrummond1244]

Pay no welfare for new immigrants. That would save tens of billions.

[@carsncakes1285]

Oh yes this trickle down economics approach has benefited everyone since the 80's instead of completely destroying upward mobility, handing 97.6% of the wealth generated to just 1% of the population... Tax the rich out of existence, instead of having generational wealth and luxury capital, let's try something that will actually work, like much higher taxes on the rich, a withholding tax on all businesses that compete in the UK and various other policies that benefit the UK economy. Add a 50% withholding tax to any offshoring of money to global corporations and make them only pay in the UK, this would raise and estimated £450 billion as withholding tax, if they still take it offshore, and around £80 billion if the companies kept everything onshore. And that is without closing any other loopholes, if the cash is made in the UK economy it should be spent in the UK economy. Also lets add a maximum wage as we have a minimum, if the minimum wage is set at £25k, then the max should be £250k, no-one is actually worth 10 times more than any other person. Businesses do not generate any jobs, money or influence without one thing, a purchaser. This is the capitalist myth in action, the buyer is who generates the wealth not those offering the service.

[@col.hertford9855]

@ can you show your calculations please?

[@Build_Secrets]

@@carsncakes1285 taxes are the highest they have been since WW2, the size of government is the largest it has ever been, the welfare state is the largest it has ever been. But do you feel well off? NO. Because none of that benefits the average person, it only hurts us all. Government redistribution benefits the wealthy not the poor. Increasing the minimum wage just causes prices to go up. Making the poor no better off, and the middle class worse off. Now. I am with you for sensible things like closing tax loopholes for the mega rich, and stopping big corporations buying up housing stock to rent out for example. The rich should pay fair taxes to support the country, and corporations should not be allowed to get too powerful. HOWEVER! The only way to genuinely improve conditions for the average person is to grow the GDP per capita. That means the following policies are NECCESSARY! 1. lower business taxes (which makes business more profitable, thereby encouraging investment. Which causes productivity increases, and growth of GDP per capita and rising average wages). 2. lower taxes for working people (I like the Lib-Dem and Reform policies of increasing the tax free threshold as people earning below a living wage shouldn't be paying taxes at all in my view, they don't earn enough to live right!). This also boosts the private sector as people will spend more of their money instead of having it stolen by our corrupt government system. Thus contributing to a positive business environment as well as just being the right thing to do by people. 3. lower regulatory costs (which will lower the cost to get things done and thus lower the cost of goods and services, as well as make it faster to get things done which increases attraction of you guessed it, business investment and thus more skilled jobs and higher wages for people), 4. lower energy costs (we have some of the highest costs in the world right now which in a global system means any production business (including farming/food) will always be worse off here than anywhere else!), 5. Put an end to low skill, low wage migration. It is driving down the average wage at the same time as costs are rising, and is a huge drain on public services. We can't afford to let in people who do not benefit the country, so we need a strict system that only admits people earning above the average wage, who will be net contributors rather than a drain. NONE of that involves letting the rich off paying taxes or anything stupid like that. It is just good sense policy the country needs.

[@killerkally7080]

It seems like the labour party paid no attention to the Osborne and Cameron years and will repeat them.

[@JohnPark-xf2gq]

Edd balls and evette Cooper went to their best mates george Austerity Osbornes wedding, so the only lesson they learnt is how to suck up to posh tories and copy their mistakes.

[@Redf322]

They are copying them

[@PorthLlwyd]

My salary is £60k a year. I dislike waste, carbon emissions etc. it means I have very little to spend my money on and thus I'm just holding onto my money instead of spending it. I bought the cheapest house in the town I live in and paid off the mortgage in 7years. I wonder if there are more people like me spending less on goods and it could be a component to why "growth" has slowed?

[@SilentWalker-if4nc]

definitely. Take a look at the economy wheel. Spending is a big part of it. No spending, no demand, no jobs. All three act like pillars that support each other

[@Hitchhiker007]

Why keep buying rubbish? We need to invest in our infrastructure both personally and nationally. Cut down our goings by saving energy etc. This country has the poorest housing stock in Europe. 500k houses with G EPC rating is laughable.. I've created a property with an A EPC. Giving a return on money invested of nearly 9%.

[@skyblazeeterno]

theres far far more people NOT earning as much as 60k - you do realise thats almost twice the median/average income - If youre struggling I think you can see why peopel earning much less would be struggling too

[@damianbutterworth2434]

@@Hitchhiker007 Investing in energy saving is a good idea. I`ve gotten my monthly energy bill down to £26 a month. Last night I had the wood burner heating the house and water. This morning the Sun is out putting extra heat in the hot water tank which will feed the washing machine this morning. The machine machine heater does not turn on and the solar can power it for free.

[@PorthLlwyd]

@@skyblazeeterno I don't think you understand the point I'm making

[@duncanbowtell2607]

Haha. You can barely hide your anger. But you deliver the message in such a calm and measured way. This exact position has been entirely predictable. Labour have no idea.

[@panchovilla5940]

My poor country (Portugal) GDP grows almost 2% this year and we expect 2,7% in 2025...I never expected to grow more than UK😊😅

[@JSmith19858]

We'd hear about GDP figures under the Tories 12 months after the fact and it would be whole percentage drops. Now we're getting an hour by hour live analysis

[@Nick-io9uk]

Of course. The goal of either party is not to win elections as such, but to uphold the two party system. Blair was on the record as saying he was upset labour won so big in 1997. I dare say Starmer is the same. The establishment want the illusion of democratic choice, and for that to work, we need power to change every decade or so for the two party system to remain 'legitimate' Once the tories are back above 30-35% in the polls expect the constant anti-labour invective to be turned down a little & it will become more pro labour again. Politics isnt about policies, its about psychology.

[@ratsliveonnoevilstar1]

Not even a dead cat bounce

[@burropoco]

Economic growth in conjunction with a rapidly ageing demographic is increasingly difficult.

[@malcolm8564]

Yes but there are also millions of young people not working.

[@johntrevy1]

​@@malcolm8564And why is that?

[@Levenstone132]

Britain just needs to export more Morris Minors and Hillman Huskies to countries with no manufacturing. Oh.

[@MrKarlyboy]

Britain broke digital export records last year to non EU countries. We moved from 7th 4th on global league table. We are wasting money on woke, foreign aid, climate nonsense and whitehall waste and locsl gov waste greed and vanity. Public sector jnefficiency. Liebore spoke down the economy.

[@horserous]

You must have a long memory. I lived in Temple Cowley in the 1960s, a small village outside Oxford, about two miles from the factory. The only university I knew.

[@SennethLawrence]

Which reminds me of the British Leyland export drive to Japan in the 1970s. Such a pity that they took left hand drive cars. As for the Austin Allegro, my elder brother and self employed mechanic, who was employed by Downton Engineering at one point, said that it was the worst vehicle that he ever worked on.

[@georgek3398]

Those were the empire days ,,, now suck it

[@MrKarlyboy]

@@Levenstone132 a lot of commentators below are planks. Biggest deal in 25 years has been done via the UK. Bigger than anything. The problem with some of these ppl is they have small brains, languish on anti empire and thick as two short planks.

[@sirrandolphnettleby3114]

Wait till after Christmas the UK will stagnate in the first quarter of 2025.

[@gio-oz8gf]

Do you mean the way it always happens? I'll make another prediction that might surprise you: it will be cold in the UK in January and February. I bet you didn't see that one coming!

[@LowPlainsDrifter60]

After suffering shopping withdrawal symtoms Xmas & boxing day, they'll be desperate to get out spending again, which should boost the first quarter figures. 🤣

[@joshhill971]

We’re already stagnating, GDP was -0.1% Oct and Nov.

[@kenpie474]

Recession 😢

[@XxBec3509]

Great video.

[@jamesbarnes8016]

Calling for a wealth tax?

[@anthonyrichardson7240]

The wealthier don't want to pay any more that's what all the moanings about so who will pay 🤔🤔🤔

[@davideyres955]

Given they take more of your money for working than you do and you look around and see more than 50% of the population is getting more back than they put in you feel a bit aggrieved. The rich contribute more and all the wailing that the rich don’t pay their fair share is hiding the truth that most people don’t pay their fair share. You want vastly expensive government then the whole population need to pay more.

[@skyblazeeterno]

@@davideyres955 sounds like a poor excuse not to attempt to tax the rich a bit more

[@matt69nice]

@@davideyres955 50% of the population is *not* getting more back than they put in. People contribute their labour, the real value of that labour is more than what people are paid for it, the surplus is taxed as corporation tax and dividends, the rest goes into the bank accounts of the wealthy who did nothing to earn that money. We're not talking about people who are well paid for their labour being subject to a wealth tax, we're talking about people who earn their money by owning assets.

[@gerryparker7699]

@@davideyres955 Most of those that are "rich" have had generations of their family massaging the country's law and accounting systems, hiding wealth through handy legal tax loopholes etc As for paying tax, I resent paying 40% tax on earnings over 50K where the super dooper wealthy pay only 28% tax on multi millions of pounds of capital gains. So don't preach to those getting screwed already.

[@DavidJames-p9f]

The proposed closure of the Grangemouth oil refinery next summer will reduce the UK's GDP.

[@JohnPark-xf2gq]

But it may do its little bit to counter climate change.because humpty trumpty wants to drill and frack until his plan for destroying in the planet is complete.and why should he care he escapes prison and makes loads of money.lts not like he's going to be around to experience the havoc he's caused .the old codger is even older than me.

[@Maggy47]

Black belt Barrister says exactly the same uk economy is heading for recession

[@piccalillipit9211]

It not heading for recession - its IN freefall collapse. The ONLY way out of this, and I am not joking, is to get China to run literally everything. Just subcontract the running of the UK to China. Or its 50 years of continual decline

[@william_marshal]

Black belt barrister is a right wing reformist who rubbishes labour at every turn !!!

[@Nick-io9uk]

Extract debt, and its been in recession since about 2004. incurring 5% of GDP deficit spending to achieve 1% of GDP hardly seems a wise decision. And yet its what we've been doing.

[@Flame1500]

Anyone who thinks we haven’t been in a recession since 2008 is delusional. Just because the official numbers say 0.1% 0.3% etc. etc. anyone who’s actually lived in the country has found that wages have gone down, prices have gone up, very consistently for 16 years.

[@JohnPark-xf2gq]

Are black belts the only colour belts he makes?

[@fabfran4104]

I guess taking away the winter fuel payment was even more stupid than it looked at the time. Often that £200 or £300 relieved near Christmas would be spent in the local economy by poorer pensioners.

[@LowPlainsDrifter60]

Spending on energy bills doesn't help local economies. 🙄

[@fabfran4104]

@@LowPlainsDrifter60 You don't have to spend the WFA on fuel, you can spend it on anything. Come this time of year many used it to supplement their income for buying presents etc.

[@michaeld5888]

@@LowPlainsDrifter60 Do not forget that for many spending on energy bills leaves little spare if there was enough in the first place for other things. It was a rushed gross tactical error by Labour which has created a Xmas hit song like no other. Cheering the decision in parliament was also a terrible mistake considering we are constantly being told these are difficult decisions. Seeing that pack of hyenas in parliament laughing at what they claim is a difficult decision causing distress is an unedifying spectacle. The endless contradictions in saying what suits the moment are not fooling the people. Rayner trying to in one sentence saying there is a housing crisis needing rapid building and in the next there is plenty of housing! There is something particularly inept about this administration with none of the people involved showing little sign of intelligence, experience or competence.

[@LowPlainsDrifter60]

@@michaeld5888 Yeah but without the WFA, they supposidly can't pay their energy bills & yet with it, they can buy other things. The sums don't add up.

[@manoo422]

Starmer is thinking of the thousands of pensions he wont have to pay next year...

[@Hiram8866]

I was/am convinced there'd be no growth. And Reeves would eventually panic.

[@Backtobasics-oo5wy]

Should we not focus on GDP per head? I'd be interested in your thoughts on how we are doing on that metric.

[@MarKeMu125]

They wouldn't change to that as it'd show we've been in a recession for a very long time. GDP is made up of figures used to make the country look good.

[@Tensquaremetreworkshop]

Absolutely right! That figure is available, though not widely shared... It has been going down for decades. Only mass immigration has kept a trickle going on the total- at the expense of our infrastructure.

[@Nick-io9uk]

Or even better, Median wages. Adjusted for CPI, median wages in 2023 were STILL below where they were when the ASHE data series was launched in 1997.

[@Tensquaremetreworkshop]

@@Nick-io9uk CPI is nonsense on stilts. Look at how it is measured- and try not to laugh. Plus, everyone's inflation is different. I have run a personal finance spreadsheet for 30 years, and I can tell you that my inflation is NOT CPI; it is way lower. Way, way lower.

[@Nick-io9uk]

@@Tensquaremetreworkshop Your inflation is lower, or CPI is? Certainly things like council tax, football tickets, passport fees have gone up a lot more than CPI since the 1990s. Food less so, electrics not at all* *I will say todays 'cheap' chinese electronics seem to have a far higher failure rate than Japanese electronics in the 80s/90s. A TV or lawnmower seemed to last decades back then, now I'm lucky if I get a couple of years use out of it before something goes wrong.

[@steve5158]

The budget is starting to look like a big mistake. Should have gone after the ultra wealthy and big business with a wealth tax and a one off tax on excess profits made in certain industries of late.

[@alexjeffrey3981]

And nationalise the utilities. They've done enough.

[@malcolm8564]

Is there some way companies headquartered elsewhere could be required to pay corporation tax on business done in the UK.

[@manoo422]

@@malcolm8564 They already do.

[@eddieharris6004]

They sound like the policies a Left leaning government might pursue, not Starmer's Tory light brigade.

[@theSafetyCar]

​@@malcolm8564yes, under the threat of not being allowed to do business in the UK or of asset forfeiture.

[@stevec6232]

Wonder how long before the labour ministers claiming winter fuel allowance cuts were necessary to stabilise the pound and balance the books give an apology...

[@rand0mati0n]

I genuinely have no idea why no one on the left wants to discuss how redistribution can fuel growth. It seems to be the ultimate social democratic argument.

[@MaRi-Br1984]

Because redistribution is very emblematic of the left, the Labour Party hasn’t been a left wing party for a very long time, it has no problem talking about austerity but redistribution to them means full on communism, they are too tied up with the financial markets to ever consider doing something that’s needed for the people and not the banks.

[@ChrisLee-yr7tz]

Because Labour support isn't particularly high and people loath redistribution. It's so negative and smacks of the Left of the past.

[@MaRi-Br1984]

@ what people loath it? I mean unless you’re saying that what the people are complaining is that there isn’t enough inequality happening, that the solution is to continue the current economic policies that is increasing inequality in the countries, and that things are walking in the right direction, that yes we should strive to make poverty the price of doing business. In that case it’s no wonder why neoliberalism is getting rejected, and we know that’s what’s happening because if it wasn’t we wouldn’t be seeing rich people donating so much money to make sure they are buying all viable political parties. They know people want change.

[@WarrenPeaceOG]

Smashing episode!

[@samanthapayton-sayer1689]

I am not an economist just an ordinary working person paying my taxes but even I know you cannot increase taxes and expect growth. Labours had it easy for 14 years….sitting in opposition constantly criticising….and not having to make any actual decisions. I’m old enough to remember the Labour Party of the 70’s and what a huge financial disaster for the UK that was. Constant strikes, high unemployment and all the wealth leaving. Alas we seem to be heading back there again. At least now with the internet and sm, Labours incompetence is much harder to cover up. Only 6 months in power and we are heading for recession already.

[@physiocrat7143]

You don't pay "your" taxes. Your employer pays them.

[@gerryparker7699]

@@physiocrat7143 And we pay the farmers for their work and they get taxed. what's your point?

[@physiocrat7143]

@@gerryparker7699 Employers pay their employees' tax. Then they try to pass it on to customers or absorb it so that it cuts into their profits. If they end up in the red, they go broke.

[@JimBob-iz2by]

​@@physiocrat7143Bet you're fun at Partys

[@richardthingsilike9562]

It depends on what they do with the tax they raise.

[@rogerhudson9732]

I read E F Schumacher's book 'Limits to Growth ' 50 years ago. 'Growth' has been a government shiboleth and there needs to be a new, better, paradigm. GDP is a poor measure of citizens life satisfaction.

[@markburton5318]

Starmer came in with doom and gloom messages, forgetting that the main driver of the economy is people not numbers. Reeves lack of understanding of economics doesn’t help, on a par with Truss/Kwateng.

[@manoo422]

She was a complaints manager in a bank (the easiest job in the world), what else would you expect...

[@JohnPark-xf2gq]

She'll be used to people complaining that she's only doing it to fill her bank account then?

[@ChrisLee-yr7tz]

We'll add you to the list if you don't understand what really happened with Truss/Kwateng. They just got into a fight with the BoE and lost.

[@markburton5318]

@ the bank had to stop the fall in the price of long bonds when Truss was going to flood the market. Nine pension services providers were on the brink of going into administration. The bank had to buy bonds to support the price while the government was trying to sell. It wasn’t a fight, the bank is responsible for stability of the financial system and they acted.

[@ChrisLee-yr7tz]

@markburton5318 ...and the BoE announcing QT on the Thursday afternoon had nothing to do with the sell-off... Virtually all of Kwasi's measures were pre-announced and the biggest factor that was a surprise was the scale of the energy price cap support at £60bn over 6 months and nobody gave 2 hoots about that. And the fight was the treasury trying to provide stimulus whilst the BoE was busy following the FED. The govt was trying to combat the BoE tightening.

[@eddieharris6004]

A great channel, and terrific contributions from the audience....keep it up Richard.

[@Skylark_Jones]

As with the US it's business as usual: tax breaks and non-means tested subsidies for the CEOs who are doing very nicely out of this, including the bankers that instruct successive govts on what should be in the budget (you know, the ones who create financial crashes like in 2008), and free-market discipline for the rest of us. Even friends of mine who were die-hard Keir Starmer supporters now see him as a "toss pot" and their policies as acts of betrayal. And to learn that Reeves is now doing a Rishi Sunak: when he was Chancellor he too told different govt departments to look for savings - makes me bloody angry!

[@alexjeffrey3981]

I think those of us on the left saw what was coming in Keir: another 5 years of austerity and mindless blather. He's a red tory, he never had a care for the working class despite all his waffle about his tool maker dad.

[@richardthingsilike9562]

There's loads money in this country but its all doing nothing in the banks of the mega rich.

[@antonyjh1234]

Europe has lowered energy consumption 1% per annum since 2008, 23 countries supposed to lose half their populations by 2100 and world pop. 10 % growth of the last 80 years, for the next 80 years. If the world is a business and it had 400% growth in 80 years and 40% the next 80, difficult to manufacture more growth with no new products.

[@cobbler40]

So putting up taxes cutting pensioner spending and loading extra costs on employers didn’t boost growth.

[@LowPlainsDrifter60]

If you expect a turn around in growth in just 5 months, you must surely believe in Father Christmas. 🙄

[@manoo422]

@@LowPlainsDrifter60 NOTHING they have done yet will EVER produce growth...

[@gerryparker7699]

There is no major growth to be had. Services are notoriously difficult to make more efficient without a major shake up in how its delivered and crucially keeping the same quality. Industry require a game changer like AI to improve productivity. However vast amount of wasted money is used to buy over inflated land and houses. Rather than paying back over inflated mortgages individuals could spend it on commodities or services and therefore you'd get growth. Inflated property is due to a massive lack of supply over decades, an increasing aging population (staying in houses longer) and immigration accommodation pressures. Of course those with property or land to build on love it, as it maximises profits. We need to invest in building ASAP, reduce land prices through taxation of those sitting on vast swathes of it.

[@Paul-eb4jp]

Growth hasn't disappeared it was never there, it was flat at best, things will get worse before they get better.

[@SoloSi2024]

The news says that it fell in October due to a lack of activity in the hospitality sector/ pubs etc. With beer costing that much, who'd a' thunk it?

[@ScotlandsGold]

Well said

[@peterteagleteagle9958]

They took "The Bounce " out when they put up taxes

[@chrisrobinson860]

Don’t forget Richard, Imitation is the sincerest form of flattery. 😂😂

[@MaureenHarrison-g1m]

Growth has disappeared ! shame Rachel reeves doesn’t do the same.

[@JohnPark-xf2gq]

She should go back to her appearances in wallace and gromit.

[@TheCam920]

Reeves is not the problem. The problem is neoliberal economics

[@billB101]

Growth has not just suddenly disappear because of Labour.

[@Chris-u3i5g]

The hope and optimism within the USA, compared to the mess we are wallowing around in here. No growth and no hope.

[@LowPlainsDrifter60]

Hope & optimism ? Dude, what echo chamber are you in ? Trump is going destroy America & those with at least two neurones to rub together realise it.

[@James-tv4pl]

There's not really much growth in the US either - GDP figures are very misleading because the US has such high inequality that nearly all growth goes to the top 5%. The average person sees very, very little. A lot of people have hope in the US at the moment because they fundamentally misunderstand what the effects of Trump's economic policies will be. Come February, if Trump sticks to his word, the US will be in a deep recession

[@Redf322]

You wait. Empty promises and a full swamp coming your way.

[@alexanderromanov737]

I have heard that the UK wants to do a deal with the EU to try to improve the future for the UK. Usually when negotiating both parties have something the other wants. The negotiation, is the coming to an agreeable compromise in exchange together. As the entire planet sees this situation, the European Union has a market of 450 million healthy, wealthy, educated, ordered, motivated, well protected customers, that occupy a continent with excelent infrastructure, tourist attractions, social welfare arrangements, universal healthcare, natural resources, an intercooperational living, working regime, and advantageouse trading arrangements with all other important countries and groups worldwide to offer. On the other hand, the United Kingdom has a magic bean. So, obviously the European Union will have to buckle under pressure from Lord Frost or that other quarterwit with white hair and no pencil or notepad. What could go wrong?

[@Nick-io9uk]

lay off the weed mate. We're all going to hell in a handcart.

[@glynnwright1699]

Yes, the German and French economies are in such rude health, and the only reason the EU keeps asking the UK to consolidate our military assets with theirs is because they like our uniforms.

[@alexanderromanov737]

@@glynnwright1699 I doubt it. Hugo Boss is a master, the Germans always look good in uniform, especially thier women. The Brits dress in Primark, they look like EasyJet baggage handlers

[@georgek3398]

Growth is not the business of government, it’s the business of business

[@joshhill971]

It is if they want to continue running budget deficits..

[@ryantennyson7562]

Being outside the EU makes growth difficult on its own.

[@hazelwray4184]

EU projected growth for 2024 is just 0.8% - 0.9 %.

[@larsbjrnson3101]

It will get much worse next year when the transition period for services is over and parts of finance move to Europe. New regulations for digital trade is coming aswell.

[@LowPlainsDrifter60]

Being inside the EU isn't exactly helping growth either.

[@Syn4kh]

Good content

[@Anmeteor9663]

Reeves is a case study in Dunning Kruger effect.

[@JohnPark-xf2gq]

Wasn't he a tory mp,or was that the dum tory called kruger..

[@michaelgoodwin593]

Its almost like the great reset has actually happened

[@CliveBearman]

Tories dug the UK into a hole with Brexit and it’s laughable that they could return and improve the situation.

[@timetraveller9321]

The black hole was created by labour paying billions of pounds to settle the doctors strike, billions of pounds for the unions and train drivers £6 billion to Ukraine in the first 6 months millions of pounds given away by lammy for African farmers millions being spent on migrants in hotels everyday, the failure of labour to implement a stealth tax on oil, gas, water companies, not taxing the wealthy, instead taking pensioners heating allowances, I could go on, also milliband wants the uk to be first to net zero, this deluded little man will cost very tax payer £1000 as the bill is around £300 billion, nobody can afford the electric cars, we have the most expensive electricity in the world, also I’m in Scotland, labour are going to let Grangemouth shut down, the uk gets billions of pounds in revenue, and he’s going to let it go to the wall, no income, no jobs, by the thousand with far reaching implications, we are going to have to import all of our oil and petrol, also thryre now destroying the farmers, they won’t tackle the migrants, stop the boats, they’re going to build them all new homes and they have never paid a penny in, I’m not a Tory voter but one thing they did do was get the inflation rate down from 11% to 2% and labour have already undone all that hard work, we will be in a recession in 2025, we are going to find food prices, petrol, gas and electric to name a few things more expensive, starmer has his fingers in his ears, he spends more time out of the uk than in it, he is busy screwing the fishermen, giving away our fishing rights, he is trying to rejoin the du, against the wish of the majority, labour aren’t doing that great a job compared to the tories and the budget did not raise enough, she will tax us even more come the spring we will be getting hammered, gas went up in October as did electric, guess what it goes up again in January, why doesn’t starmer tax them on their record, highest ever in a century profits? He used to complain that the tories would Don’t do it, he also had a go at dunak ,via a leaked document, that the tories were going to cut the pensioners fuel allowance and he got in and the first thing he did was cut it😂 you couldn’t make it up, the man is dangerous and we have another 4 and a half years of starmer, lammy, and reeves, lord help us, thousands of jobs have already gone thanks to the national insurance hike, Homebase has gone, other companies have gone abroad in record numbers, we are being taxed to death, ulez is a ta. On fresh air, we don’t even pollute, the USA, China, India, all pump out masses of fumes yet the poor uk pays the most, if starmer was a sea captain, he would have been on par wit(the captain of the titanic, oblivious to the trouble up ahead, proud, stern, ready to go down either the ship, his dad was a toolmaker you know, but his dad owned the company, he has been pampered and priveliged all of his life, he is in number ten at the moment and he is even renting his house out, what a buy

[@alexgifford45]

They achieved bugger all economic growth during 14 years too.

[@michaelgoodwin593]

Why was it the tories fault? It was voted for, Cameron literally gave us the sword to fall onto. The people wanted it. Now they are going to reap the benefits.

[@CliveBearman]

@@michaelgoodwin593 exactly Cameron was the leader of the Tories on which everyone fell. And then Teresa May, Then Boris, and Liz Truss and Sunak. So that’s why I said it’s the Tories fault.

[@michaelgoodwin593]

@@CliveBearman did you vote remain or leave?

[@donaldduck5731]

The public sector provides a great many needed services the country can’t afford and thats a big problem.

[@MartinCarty]

Without the single market and the customs union there will be no growth. And what about a wealth tax even if it would upset Mandleson and Blair.

[@timbrown1897]

I hope we can get Germany growth and french stability then perhaps we can get Irish growth in immigration to live on benefits get your wallet out better still take out a loan to bail out the EU as there purse is empty

[@LowPlainsDrifter60]

Wealth tax ? Can't see any government brave enough to change the trickle-up economy.

[@ademason8975]

It is going to take many many years to undo the damage that the Tories have done to the country - whining that there is no progress after a few months really is pathetic We need Labour to be more radical more quickly, start making real progress on inequality and give the general public something to get behind

[@piccalillipit9211]

*BAN PRIVATE LANDLORDS...!!!* Give them 10 years to sell up - if they sell to the Govt at a discount they pay less capital gains tax - the Govt could borrow to buy them cos its an asset. It would not show on the national debt. Make rents affordable - a cut to every renter make it a % of your salary as a maximum, say 30%. THAT would put a LOT of money in a LOT of people's pockets to SPEND and it would give people the security to make plans for the future

[@adrianlloyd6403]

Mr Gordon Brown destroyed private pensions when in office so those 80% of employees in the private sector, not working for the public sector ( who get index-linked gold plated pensions and get to retire earlier),had to find ways of guaranteeing a pension without relying on the vagaries of stock markets and poorly performing investment funds.A lot of these people invested in rental properties to try and secure some future financial stability for themselves and who can blame them? Now you're suggesting they shouldn't even have this option to guarantee a pension.If we had serious political leadership that prioritised house building we wouldn't be in this mess of high unaffordable house prices and huge rents.Don't blame landlords, most of whom only have a single rental property to rely on, when it is government policies over the years that has forced many people to make financial decisions in their best interest to secure a pension in old age.If you can suggest a better idea for someone in the private sector to secure a future pension for themselves, without buying a buy-to-let property as an option,i would be very grateful to hear it.

[@Redf322]

Rent controls work

[@william_marshal]

Better still ban rent increases for the duration of the Labour government. Greedy Landlords have been raising their rents 3-4 times higher than inflation for years. They're milking the working classes dry.

[@gerryparker7699]

@@adrianlloyd6403 I agree with most of what you say. The renting thing is and indicator of poor policy on house building. That said, much of the problem with private pensions was that the stock market fluctuates and income via this route can be uneven. I did notice when the stock market was doing well "gold plated" pensions were rarely mentioned. "Gold plated" pensions are a thing of the past unless your talking about CEOs of private firms. Buy to rent was fine but it encouraged a spiral of house price inflation with the result of rent increases etc. Supply V demand. I don't blame those with rentals at all. You are trying to make the best way you can. As for securing future pensions for anyone good luck with that.

[@theSafetyCar]

​@@adrianlloyd6403you'll be surprised how much rental property is owned by corporations.

[@Hypnotic-tist]

She could Resign? I mean she was essentially an administrator in her previous roles. But then, Starmer approved her changes, so. Maybe he should resign to? 😢

[@leejohnson3209]

And all the time the spectre of Nigel Farrage looms on the horizon. Never underestimate this country's ability to self harm.

[@Foxtrottangoabc]

Farage exists because conservative and Labour are not addressing the political issues , such as mass migration , corruption in govt , water companies a good example

[@christineoconnor155]

Well said. This country has been self harming for decades now.

[@GeistInTheMachine]

Gotta learn somehow.

[@christopherellis2663]

Brexitannia, the future of the nation. Nigel Fromage National Front No Fun No Funding No Future

[@frankbrennan1619]

How They Broke Britain -1) Sir War Criminal Bliar. 2) Goebbels Campbell. 3) Mandy Mandelson. 4) Gordon Broon. 5) Call me Dave Cameron. 6) Useless & posh Clegg. 7) Even worse Theresa May. 8) Boris. 9) Globalist & WEF Stooge Sunak. 10) Granny Harmer Sausages Starmer.

[@ColinGarner-h1t]

Poor old Rachel. she’ll have to Google ‘ what now ‘ 😂😂😂😂😂😂😂😂😂

[@markrobinson7358]

As a farmer I will put putting all investment now on hold. With prospect of crippling taxes why would I spend money to increase the farm value before my son takes the reins. If the country's that broke why send billions of over taxed payers money overseas?

[@harrisonbergeron9746]

a rich farmer then

[@LowPlainsDrifter60]

If you have at least £3 million to hand down to your son, don't expect sympathy from the less fortunate.

[@manoo422]

@@LowPlainsDrifter60 You probably think the King owns Buck Palace and should pay inheritance tax too...

[@LowPlainsDrifter60]

@@manoo422 Nope, I know who owns Buck House but yes I do believe the royals should pay inheritance tax at the very least.

[@honeybeesforsale]

@@LowPlainsDrifter60 Sending money to 'poor' counties overseas - minimal. Sending weapons overseas has begun. It seems strange to me that no one mentions that we are in a war and the cost of cruise missiles, war planes, etc. etc. Until we win this war we are all going to get poorer. Wars don't come cheap.

[@Rooster---ooo]

I work for a private company whose revenues are partly set by a government regulator. News is we're going to be awarded less money & a push to reduce overtime & other efficiency savings could spell a significant drop in my wages, so I've naturally begun reigning in my spending & putting more aside for when it's really needed. I've never been an extravagant spender & always live within my means & save but when there is overtime aplenty, I will treat myself to items related to my woodworking hobby, be more generous with dolling out money to the family & less frugal with holiday spending. In the back of my mind I've always had this day in mind & not overextended myself with debt on a bigger house, cars, extravagant holidays etc... and only really spent the extra money as & when I've earned it. Despite the popular narrative of Brits living on credit, I suspect a significant portion of the population is as financially conservative as me and they're all seeing the same spectre on the horizon & are tightening their belts in anticipation.

[@crayontom9687]

Cuts!

[@blackbearish]

cuts to what? there is nothing to cut. the torys took everything out.

[@crayontom9687]

@ are the services still functioning? Just about. So there’s further cuts to be made

[@blackbearish]

@@crayontom9687 then what do we do when public services are no more? answer me that?

[@Soraviel]

Also farmers in england have no one to blame but themselves, they chose brexit like blind foolish clowns

[@malcolm8564]

Apparently 40% of farmers voted remain so not vastly different to the overall 48%.

[@physiocrat7143]

The British can eat everything farmers can produce.

[@TheFarmingEngineerUK]

Almost exactly the same as the wider population when you account for the higher average age of farmers.​@@malcolm8564

[@harrisonbergeron9746]

GDP is a scam

[@puppets.and.muppets]

house prices are a scam

[@harrisonbergeron9746]

@puppets.and.muppets and rent is extortion...

[@st200ol]

@@harrisonbergeron9746 This is a channel for smart people, you know the ones with a proper argument to back up their ideas and opinions. I think you got lost somewhere.

[@alexjeffrey3981]

​@@st200olhe's right though. GDP can grow while the standard of living decreases, it's been happening on and off in the UK since the 70s. And private rent is extremely exploitative because you can't just not be sheltered and the market has been driving up rents to all time highs.

[@st200ol]

@ True, that doesn’t make GDP a scam it just means that GDP isn’t directly linked to an individuals bank balance. There is a link however but don’t expect to see your wealth grow simply because the economy is growing well.

[@BionicRusty]

“It will have to get worse before it gets better.” Trouble is, it’ll only get better in about 4.5 years.

[@iainsneddon3010]

So where are the skills of the much self publicised, albeit fraudulently in one case, economist? I'm seeing no technical knowledge being displayed whatsoever.

[@akosiamarillo]

One word Brexit…

[@SergheyCSA]

Solution: UK join EU Maximum 3 houses per capita Maximum 100 houses per company Politicians should not be allowed to own private companies Companies should be forced to reinvest % of profit into wages

[@vevey75]

UK is in serious trouble. The city are slashing jobs no one is investing here

[@davidh.5204]

We need a WEALTH TAX to make those at the top, actually start contributing to the country, rather than the country continuing to finance the wealthy.

[@kevinsyd2012]

No, we need fewer people sponging off the state and living off benefits all their lives. Wealth taxes have never worked in countries that tried to implement them.

[@jannenreuben7398]

We already do, it's called income tax. Around 60% of income tax revenue comes from the top 10% of earners. Like it or not it's the high earners who are already propping up the system.

[@anniewhateverwhenever8936]

Months of ‘it’s going to get worse before it gets better’ and then the awful budget…

[@K4rmaRules]

She'll double down because she hasn't a clue what she's doing.

[@kieranmchugh172]

Let me guess, you do know what to do to fix years of embezzlement and neglect inside 6 months, right?

[@skyblazeeterno]

@@kieranmchugh172 what embezzlement?

[@kieranmchugh172]

@@skyblazeeterno lol.ok.

[@anthonycollins9758]

Got to reverse the growth impairing impact of Brexit. Join the customs union and single market - that will help with growth..

[@glynnwright1699]

Why? The single market primarily covers manufactured goods, only a fraction of services in the EU are regulated by the single market. Even by the EU's own numbers, it is below 50% of all trade in services within the market.

[@LowPlainsDrifter60]

A little harsh to point the finger at Labour after only 5 months of government, particularly given the state of the UK they inherited but growth has disappeared throughout Europe,we have to admit that the system is Kaput.

[@MarKeMu125]

Neoliberalism as a concept is kaput, socialism needs to come back.

[@Hitchhiker007]

It's laughable but with the boomerang sanctions against the convenient enemy what you expect. Ukraine is none our business if you think otherwise you are a victim of their propaganda.

[@Razmatazuk]

Europe adopting socialist policies is what is causing the decline. The USA is becoming more neo liberal and there is massive growth as a result

[@LowPlainsDrifter60]

@@Razmatazuk Well, the USA is going to become more protectionist,( like the EU )under Trump, so their growth is likely to dwindle too.

[@daveandjanwoolf8078]

We are not on our own- Europe is stagnating. Even if growth is achieved it will be so insignificant that it makes no difference. World investors are not interested in the Uk stock market- they can achieve far greater returns elsewhere. The best we can hope for is a gradual decline in living standards.

[@grahamsouthon553]

I'm not convinced that infinite growth in a finite world is a sensible policy.

[@LowPlainsDrifter60]

Indeed, growth is only possible by destroying the world.

[@skyblazeeterno]

yet we seem to want infinite population growth

[@johntrevy1]

And yet Greta Thunberg is the villain when she said about fairytales of unlimited growth.

[@johntrevy1]

​@@skyblazeeternoYet there is clearly already too many of us.

[@alexanderplayspiano7157]

You do a good job of reasoning what I feel about the political direction of this government. I couldn’t quite put my finger on what was wrong, but you’re able to deftly explain why the wheels are coming off this government so soon. Thank you! Wealth redistribution does seem to be a toxic concept to all UK governments, whereas in the US, they just get it. We would see a booming quarter if every UK taxpayer was cut a “stimulus cheque” of £1000 and it would cost nothing due to the enhanced tax take during that quarter from VAT and other consumption taxes. It’s the original confidence; the one arm bandit that takes a pound and coughs out 10p occasionally. Keep up the thought provoking work!