How Britain Learned to Stop Growing | IEA Podcast

[@Lawrence4000-s3k]

True that the government allowing such an increase in immigration was democratically destructive. If the Brexit vote was about anything it was about immigration and then concerns were simply ignored.

[@MrJohnfoster70]

The Faragist Brexit promise has failed.

[@MCDONALD6969]

@@Lawrence4000-s3k not only immigration

[@Crimeajewel-me3me]

Milei will show how a country moves forward. Less state. Less tax. Less interference.

[@petersmith6520]

Unfortunately most of the world has gone in the opposite direction and now AI is being used to control the population.

[@vatsmith8759]

What the Institute of Economic Affairs has to bear in mind is that Brexit wasn't about economics.

[@tomburroughes9834]

Depends whom you talk to. It was about removing regulation and winning back democratic decision-making for me, and that definitely had an economic aspect. Some try and dismiss the whole thing as an internal Tory affair, overlooking how many on the Labour side were not that keen either on the EU. Brexit/Remain views cut across conventional political sorting categories.

[@MaximilienRobespierre1]

At about 12:00 some sense is made but the it goes down hill

[@garyb455]

The EU is the problem its Left Wing policies over decades have turned the whole of Europe into a no growth region that is over regulated and over Governed. The costs of these extra layers of Government are enormous. The Common Market was a great idea and it should have remained just that. The EU has had 50% less growth than the USA in 20 years, who has the right policies ?

[@johnkhoff]

Love your channel BTW.

[@ravindra7791]

Wouldn't the landlords selling mean fewer tenants too ? As in presumably the ertswhile tenants become homeowner (owner occupiers). Amd maybe future landlords. Yes supply should increase for sure

[@advocate1563]

What landlords are doing: 1. Selling (lots approaching retirement) 2. Switching models to hmos, lodging (safer models) 3. Mandating guarantors 4. Buying insurance against default 5. Renting within famoly/friendship urcles (known entities). These ref9rms have really spooked the market. Build to rent prkperties are approximately 20% more expensive than private landlorda. Net result of these reforms: tughter supply and only renting to those who can provide payment guarantees. Kower income families are the group who will be squeezed out. All pretty self defeating like so many other Labour policies.

[@garyb455]

The EU is the problem, its Left Wing policies over decades have turned the whole of Europe into a no growth region that is over regulated and over Governed. The costs of these extra layers of Government are enormous. The Common Market was a great idea and it should have remained just that. The EU has had 50% less growth than the USA in 20 years, who has the right policies ?

[@peterbanks3664]

Thank you. I wish more people would say this liberals are so brainwashed with thinking how wonderful the EU is and they seem to be all over podcasts like this

[@tomburroughes9834]

I would expect the rental market to be increasingly dominated by large firms and fund managers, with individual landlords retreating from the space and making it less varied. The new rental laws will be very harmful.

[@MrJohnfoster70]

The Faragiste brexit failure is rising once again to the top of our growth agenda. It's 1972 again.

[@brett03747]

let say youre out of the customs union AND you dont have free movement. what would you be left with?

[@kayedal-haddad]

Despite being a reluctant Brexiteer, I would have been in favour of EFTA/Norway+ model!

[@danielwebb8402]

So freedom of movement + ECJ supremacy + very similar net contribution per person. So being in the EU just pretending not. Can Norway remove vat from feminine hygiene products without needing Portugal's permission first?

[@tomburroughes9834]

same with me.

[@kayedal-haddad]

@ it was on offer! Norway+ was essentially what Theresa May was offering.

[@janesmy6267]

Yes then the super hard right wingers (voted her out) because it wasn't what they wanted. Let's be clear what the problem is. It's the British political system that's broken.

[@petersmith6520]

Need to start with constitutional reform - upper house, honours system, voting system, judiciary as the ancient practices in the UK are just not fit for 21st century

[@garyh1572]

The trouble is , all the previous growth went to a few people !!!!!!!!!!!!!

[@alnbyg]

But without growth all society is worse off

[@danielwebb8402]

So someone at say the 17th percentile is worse off / same quality of life today as 50 years ago?

[@stefanhanrahan]

Give me a break what nonsense the EU is more than mere trade. Ask the Welsh and Scots if there union is a great economic success i think not.

[@arnoldkiel7670]

What a sad rehash of unevolved 2015 slogans. 150 Billion GDP gone and counting...

[@danielwebb8402]

Because? a- We've grown gdp per person 5% slower than Germany/France/Italy since 2016 Or b - Experts promised 5-8% slower growth during leave campaign. If you cherry pick data you can maybe get to 1% since. Let's just repeat the 5% figure because otherwise we were very wrong. So we need to assume uk woukd have thrashed Germany/France/Italy as our counter factual. Why would it have? Just because.

[@arnoldkiel7670]

​@@danielwebb8402Yeah, I know: facing facts is tough for leavers. Never their strong suit.

[@nicolassTRAVEL]

Uk is not united anymore

[@jdg9999]

Democracy and self determination are a "waste of time" are they?

[@somethingfunny6867]

the uk economy is still below 2008. once you adjust to USD, adjust for inflation, and adjust for per capita we are down.

[@danielwebb8402]

Why would you adjust to usd? Are your liabilities in usd but assets / income in gbp?

[@somethingfunny6867]

@@danielwebb8402 that is a brilliant question to ask. if you purchase in the international market it will be in USD. it is also valid to use gold. the reason bitcoin is so successful is that its viewed as a digital gold. why does it matter. well look at 2008 when £1 was $2 dollars. v today where £1 is $1.22. that is to say 1 barrel of brent crude oil valued at $40 USD in 2008 is worth £20 in 2008. that same $40 USD in 2025 is £32.87. you find an extra 30% worth of recession due to this fact in the uk. this is why it feels so bad. we cant buy internationaly.

[@peterbee8892]

Huge inequality in the last 20 years has removed growth from economy by hoarding wealth by a few .

[@MCDONALD6969]

How do you mean?

[@danielwebb8402]

Gini coefficient has been basically flat since mid 90s

[@DukeLitoAurelius]

Hard to believe that the UK is far more socialist than Argentina. I think the UK should leave the G7 and join the BRICS. There is much more ideological congruency with the BRICS than with the United States.

[@MrJohnfoster70]

The IEA Brexit was a stupid Referendum question and we gave them an equally stupid answer.

[@nickjoint822]

The IEA claim that this video “demonstrates” that rejoining the customs union would give us the worst of both worlds. The IEA also says that we have been unable to exploit any of the freedoms of Brexit, ending up with more over-regulation than the EU (Insolvency 2). So the worst of both worlds is staying out of the EU, with none of the advantages of Brexit (because we can’t action them for some reason) and none of the advantages of the EU. The IEA is really a front for the Liberal Democrats, and Kristian Niemietz is Ed Davey in a mask speaking with a dubious Teutonic accent. Kristian/Ed, you’ve been rumbled!

[@mike747436]

And Brexit keeps coming back because....?

[@stefanhanrahan]

Brexit is so damaging and the customs union works just fine.

[@paulyoung4802]

Summary: leaving Customs Union brought no real benefit. Leaving the Single Market disastrous. Loss of Freedom of Movement harmful. How anyone supported Brexit I cannot understand

[@robinrdale8318]

Well truck drivers are now being paid about 28% more , wages across leisure and hospitality has gone up , people in care seem to be on the way for a bump in wages also. The national minimum screwed over many people in these areas , there should have been a national minimum skill wage which would reward people for up skilling and taking on more responsibility, then maybe more people would have voted to remain.

[@MCDONALD6969]

I'd love this guy to debate James O'Brien. An arrogant liberal.

[@MrJohnfoster70]

His definition of growth is a Tumor of wealthy tax dodgers.

[@robinrdale8318]

James won’t debate anyone he can’t beat he’s smart enough to do that . James o brien vs Brendon o Neil would be interesting.

[@MCDONALD6969]

@robinrdale8318 I agree - he won't enter a debate he can't win.

[@nicolassTRAVEL]

BREXIT HAS FAILED

[@advocate1563]

Brex8t hasn't been tried.

[@alfredttarski4521]

"Institute for Economic Affairs" What a bunch of clowns!

[@alunevans2377]

TAKES ONE TO KNOW ONE!!!

[@crogeny]

Thanks for this carefully-reasoned and detailed critique of the ideas put forward in the podcast.

[@alfredttarski4521]

@@crogeny It is a statement of fact. And although it is neither "carefully-reasoned" nor "detailed", it has the signal advantage of being true.

[@matthewcook9404]

Who funds you ?..

[@rogerterry5013]

Fortunately the oldies voting for Brexit are dying out. But with an independent trade policy we could have a tread deal with India. Oh wait, the EU already has one.

[@fionnaighhessey131]

Get over it we are not re joining 😂

[@marcrolison4478]

I just looked it up. No they don't.They are negotiating one. Which could take many years

[@danielwebb8402]

​@@marcrolison4478sshh with your basic human competence of understanding prior to forming an opinion

[@nicolassTRAVEL]

BREXIT = UK ECONOMY COLLAPSE

[@MichaelBrown-yj9kj]

Brexit has failed! Please don't take my word for it; ask Farage and Badenoch. Talk of that elusive trade deal that will save the country is for the birds. Let's get a customs union deal with the EU and move in the right direction.

[@marumaru6084]

The EU has failed, see the whole EU. Brexit was made to fail to save the EU which is failing regardless.

[@fionnaighhessey131]

Obviously you are better qualified to comment than the IEA 😂

[@marumaru6084]

Ah ask Romanians how well the EU is going or Georgians.

[@robinrdale8318]

We don’t need a deal because is the eu are successful with their ESG policies (what made all the farmers across Europe kick off) then not only Uk but anyone who deals with the eu will have to follow ESG rules. The only hope is Trump knows ESG regulations are anti business especially for small and independent businesses and will ban ESG investments.

[@fintonmainz7845]

Sorry Brit. We are not going to give you a "customs union". Brexit was the best thing to happen to the EU