Is the Labour Government Doomed by Economy?

[@Neil-Y2K]

Right now the average worker in the UK does not believe tomorrow will be brighter than today. When people lose hope don’t expect productivity to improve when they can’t see what any extra effort will yield.

[@Godlike-87]

And there it is... The slow march towards fascism.

[@crapmalls]

​@@Godlike-87there what is?

[@sparkymmilarky]

The productive in our economy want to leave to avoid the higher taxes. We need a very honest conversation about pensions/throwing money at NHS. we cannot afford it.

[@tmoosy]

​@@sparkymmilarky Which just adds to the pessimism about the future

[@sparkymmilarky]

@@tmoosy I would stay in the UK if I knew taxes were going much lower. We have a MASSIVE state that does too much

[@matthewharding-ew1ts]

Still scratching my head as to where the growth is coming from? Burdening business and employee's with higher costs won't help. The biggest issue is the sky high cost of energy, highest in the world.

[@wind.del.change]

sky high energy, sky high house prices. there is nothing worth getting out of bed for.

[@BAmalakas]

grow by eating the rich

[@Zoro007]

Where I live they're driving out companies and using their vacated premises to build flats, flats everywhere but ironically no jobs. Besides those who are going to be given accommodation for free who will be able to afford buying and paying all the costs associated with ownership without employment..... I'm totally confused at their strategy... unbelievable.

[@SlowhandGreg]

There moving to a renewable grid away from gas I've just had solar and a battery installed my overnight rate is now 8p it used to be 24p and my FIT rate is 15p even my daytime rate is lower at 21 as long as I use my battery supply between 4 - 7pm Firms also got to write off 100% of their capital costs against investment and small firms will become NI exempt as they raised the threshold, the companies hardest hit are the Weatherspoons of this world that use the U23 rule to pay below minimum and basically prop up a low wage economy

[@albedo0point39]

@@SlowhandGreghow much did you spend on the battery and cells though? You need to factor that against your ‘cheaper power’.

[@NianLisa]

I was a stay at Home mom with no money in my IRA or any savings of my own, which was scary at 53 years of age. Three years ago I got a part time job and save everything I make. After 3 years, I am 56 yo and have put $9,000 in an IRA and $40,000 in my portfolio with CFA, Evelyn Infurna. Since the goal of getting a job was to invest for retirement and NOT up my lifestyle, I was able to scale this quickly to $150,000. If I can do this in a year, anyone can.

[@StephanieMoore-oj7vz]

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[@jeffbox1torres]

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[@DannielleRosales]

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[@markd152]

Any specific guide. I'm from Georgia how do I go about this? I think I'm interested how can I get in touch with Mrs Evelyn

[@NianLisa]

Well the name is 'Evelyn Infurna'. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.

[@alanglasgowbassist]

To sum this video up in a few words “ The UK is absolutely screwed “ 😢

[@独孤求败-d6i]

真的吗

[@JohnnyinMN]

Yip, it is. Sadly.

[@cobbler40]

The Labour Party have power with a large majority but no idea what to do with it. They are laying the ground for a far right government.

[@mullenio4200]

Yup. I'm a labour voter and even I dislike the current government. I absolutely can't see them getting re-elected.

[@NoName-lo9ym]

They have an agenda - its called Agenda 2030 and they are implementing it stealing farmland and forcing us into a freezing starving Zero Carbon hell.

[@ep1929]

​@@mullenio4200everyone I speak to hates this government, before the election they didn't seem very popular but you always found some people who supported. Now I know nobody who supports these clowns.

[@1292liam]

@@mullenio4200 early days still

[@mark4lev]

There was a malaise at the end of the 70’s.

[@garyb455]

There is ZERO chance of building 1.5 million homes, its a dream

[@jaaaymooojo4934]

So was brexit and look where we are.

[@martinreynolds5905]

Brexit a nightmare from the start

[@julianshepherd2038]

If you had the workers you might. In the 50s the peak was 300000 per year but they were not great homes. We let the councils borrow to build but Westminster paid them to build up which requires a concierge service which were rare.

[@wind.del.change]

then i will stay part time. no council tax.

[@kinggeoffrey3801]

We don't need new houses. Go to every new build site in the country and dozens of houses are sat empty. Wages have not matched inflation, that is the reason we are in this mess.

[@mrtecsom6951]

Unfortunately the statement Long term investment benefits the next government and not this one is why this cesspit of a country is broken and beyond repair No political party will bring in policies that benefit THE PEOPLE only their own corrupt narrow self interests of remaining “in power” whilst everything collapses around them because they will always be alright regardless.

[@420haxx]

100% facts.

[@andrewharris3900]

All the more reason why the Government should have far less power than it does.

[@Zenkrypt]

​@@andrewharris3900 All the more reason that people should have less power. People can't consider the future when they vote. They will gladly vote for a 1% cut in tax that is unfunded and does more harm in the future. Brexit as well.

[@nowisgodinyourlovelylife717]

​@@Zenkryptthere's no option to vote in this failed democratic system, all the parties are the same gangs fighting for the same reasons supported by the elites

[@ジョニークレートンバックル]

This guy presents the issues and relevant facts in a way that even economics undergraduates would benefit from listening to. No polemics, no hyperbole, the ultimate message to viewers seem to be "here are the key points as I see them - YOU decide the answer to the original question". My undergrad days are well behind me but this channel's always well worth as listen.

[@hotrodchris805]

Headline is wrong. It WILL get worse! And the likelihood of it getting better is tenuous in the extreme.

[@420haxx]

So long as the country is run for private interests there is zero chance of things improving.

[@wind.del.change]

will you work to own nothing ?

[@louiswilliamterminator2887]

We will continue to raise taxes and fines until profitability returns!

[@James-el6lj]

I left UK in 2020. best thing I did. Live in Russia now :)) Hot blonde women and low cost of housing.

[@chrisreed3929]

I don't think there is a path out of this. We British just need to accept our politicians have failed us for the past 50 years and that we were complicit in that. We need to accept that we will fade, albeit slowly. There is little to attract investment in UK business, you just need to look at how unattractive the 'British ISA' was to its own people. My partner is from a developing country, and the most shocking thing is to see their increase in living standards whilst ours decrease. I currently sit typing this under an electric blanket because I can only afford to heat my early Victorian house to 15'C during the winter now. This is UK.

[@julianshepherd2038]

Thatcher won and Britain lost. Patriotic tax dodging spivs

[@420haxx]

Your victorian era house may be drafty and poorly insulated but it is almost certainly built to a much higher standard than any new builds that will begin falling apart in 30 years.

[@chrisreed3929]

@@420haxx Aye, solid walls, suspended timber floors over earth, impossible to heat but 170 years old and solid as a rock.

[@sparkymmilarky]

Same. Taxes are simply too high. We need a much much smaller state or we will collapse

[@erertertert44]

​@420haxx that's such bollocks, I work on houses of all ages, yes new builts are sometimes carelessly built but that's always been true! The only vixtorian houses left are the well built ones We build with much better regulations, materials, tools and standards now.

[@julianshepherd2038]

Weve had 40 years of Woolworths economics of not investing so whatever we do will take time but anything else is putting party before country.

[@theolddog5129]

Agreed.

[@alanjewell9550]

I don't agree. My recollection of the last Labour government, from 1997, was things were pretty good, certainly up to the 2008 crash. As has been said on the channel before, the problems really started with the Tory austerity policy, starving investment, when with ultra low interest rates, they should have been taking advantage and investing. Add to that the pandemic, Ukraine, & especially brexit, we're in a hole so deep it's hard to see any way out.

[@ymwan]

Doomed by pursuit of ideology

[@Owen-sm7ob]

Basically the UK under Labour will go from being a austerity economy to a high tax austerity economy.

[@cobbler40]

Wages are the same as 2006 !

[@420haxx]

Well they have gone up by about 40% on average but the problem is everything else has doubled or tripled or even more in some cases.

[@cobbler40]

@@420haxx I retired in 2006 and my salary still looks good. I have ex colleagues going for jobs and they are offered money which would be too low in 2006. Prior to this over 20 years your salary would double it would be higher than overall inflation.

[@420haxx]

@@cobbler40 I agree totally with your sentiment, just saying that statisticly wages on average have gone up, but no where near enough.

[@vonder7]

@@cobbler40but at least taxes on those salaries increased massively. 😂

[@dailymass4924]

The UK economy has the worst of both worlds. Like Japan we have an aging population burdening the state. Normally an aging and thus decling population would lower house prices and give the fewer workers more negotiating power over employers. However, due to our immigration policy, house prices continue to rise and employers are able to employ people cheaply and with little rights. So now we get the cons of both an aging population and a rising population with none of the benefits.

[@johnl.7754]

It could have been a lot worse than you think it is now. Japan and UK situation is not similar despite both having aging population.

[@bopndop2347]

@@johnl.7754 When Japanese politicians are making remarks about removing wombs from women over 30 and banning over 18 women from going to University, I think it's clear that they are a bit further down the line of screwed

[@julianshepherd2038]

The government calculates how many homes we will need, what sort and also how many are being built. We haven't kept up since 1974. It's not the immigrants, it is the landlords in Westminster.

[@Pik871229]

@@johnl.7754 Japan had suffered from economy downturn for decades (since 1990s)...but now recovering The period AKA the lost decades It seems that's the lost decades in the UK, since 2008 banking crisis

[@julianshepherd2038]

​@@johnl.7754our debt to gdp is about 100% and Japan's is 255%. Not similar.

[@takecourage92]

5 years is a long time. Might as well check back in 2029

[@stevencalvert9454]

I don't see how they can get a better economy when they crush businesses with tax

[@monkeh86]

Labour delivered one of the worst budgets of all time, they've already doomed themselves. Ironically, the 2022 Truss one would've worked in this type of environment where growth is needed, they just timed it terribly since the focus in 2022 should've been on getting inflation down.

[@davidgray1236]

Hopefully, that's their worst budget out of the way.

[@mikethebloodthirsty]

​@@davidgray1236yeah, I really don't think that'll be the case.

[@zzz2215]

IF you actually unironically believe unfunded tax cuts, indiscriminate reductions in state spending and no state intervention into market failures in the labour and infrastructure sectors would drive growth, you're unfortunately part of the problem.

[@PietroFGReal]

Half a million to build 15 houses?! That's crazy cheap

[@jonnoMoto]

Half a million each

[@Makinen689]

Imagine the amazing quality of houses

[@PietroFGReal]

@Makinen689 we're governed by frauds

[@PietroFGReal]

@jonnoMoto oh right. Well, that's way too expensive for the average 3bed

[@andrewharris3900]

@@Makinen689 Commie blocks.

[@fcassmann]

The decline of brexitannia,gives me a warm and fuzzy feeling inside. Have a nice day. 🇪🇺🇳🇱

[@cobbler40]

Trouble is both main parties are bankrolled by wealthy donors as they do not have enough money from members of the parties. For example Badenoch got a donation of £400,000 for her leadership bid.

[@SlowhandGreg]

from a climate denying group

[@-sargntclashroyaleandmore-491]

Correct... they're all bought for now

[@LeoButler019]

I love the grounded reality of this channel!!! *If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you..prevent inflation*

[@Benjaminfreedman-l6r]

I feel sympathy and empathy for our country, low income earners are suffering to survive, and I appreciate Wayne. You've helped my family with your advice. imagine investing $30,000 and receiving $95,460 after 28 days of trading.

[@andrewharris3900]

Improving the economy by taking more of my money which I was already investing back into the UK economy. Clearly they know what to do with my money better than I do.

[@bopndop2347]

Hey @Economics Help UK I've been wondering for some time if there is any credence in the idea that the UK's decline even today was always inevitable after relinquishing the Empires and given it's limited resources? It would be interesting to know about the thought processes from UK statesmen post WW2 and how they felt Britain would stay relevant in the next century

[@georgesdelatour]

I doubt it’s correct. One reason the British Empire was given up was, it had become incredibly costly to maintain. If you want to look into the Empire theory, don’t just look at the British Empire. Compare it with the French, Spanish, Portuguese, Dutch, Ottoman, Russian and Japanese Empires. I think the biggest long term factor was the two World Wars. They bankrupted the country, leaving us massively indebted to the USA. The First World War in particular involved selecting our brightest and best young men and putting them in front of German machine guns. That must have had a huge effect. BTW I don’t understand the value of a country being thought “relevant” by the political class in other countries. As a neutral country, Switzerland has made itself deliberately “irrelevant”. But it’s incredibly rich and successful. I suspect the seeking after “relevance” has made us poorer overall.

[@SlowhandGreg]

were sat on the next biggest resource after oil The UK is at the confluence of multiple major weather systems and the bridge to the continent has multiple shallow areas to build offshore wind Did you know a wind turbine in Scotland generates twice as much power as one in England

[@hughn]

Adam Smith dismissed the Empire as a costly vanity project. The key thing is the growth in the US economy at the end of the nineteenth century, largely due to gold finds in the Yukon, etc., They looked at the British Empire and were jealous. During WW 1, they basically stayed back and watch Europe bankrupt itself. After WW 1, the Allies made German pay punitive reparations for which they borrowed from the US. As the German economy tanked, the US refused (under the influence of the French) to ease the repayments, contributing to social problems that the Austrian Corporal and his ilk claimed they could fix. Before they entered WW 2, the US demanded the end of Stirling as the gold standard, the break-up of the Empire and massive loans to pay for all the equipment on a lease/lend basis - these loans were not fully repaid until 2004. Before they agreed, they sent a warship to inspect South African gold being transported on a Royal Navy warship. The Tizzard Mission, for example, saw innovations such as the cavity magnetron (radar), the jet engine, etc., given to the US. At the end of the war, they stopped supporting the UK with food and rationing continued in the UK whilst the US was in a boom of big cars, new houses and milk-bars; at the end of the war, we had to borrow from the Americans to pay for Germany and Japan to be rebuilt. During this Marshall Plan, we kick-started the German and Japanese automotive industries (and others), directly competing against our own manufacturing. At the same time, we had to borrow for our own reconstruction. In the mid nineteenth century, we had also taken out one of the largest loans in history to end slavery (this wasn't paid down until 2015). The start of the end of Empire was before WW 2, when there was a parliamentary committee to discuss independence for India. One member is today dismissed as a racist partly because he opposed it; Churchill's concern was how the Muslim minority might fair at the hands of the Hindu majority - when independence was given, more than a million people died, proving him right. "Remaining relevant in the next century" was thought to be because the UK believed it had shown itself to be a moralistic (we needn't have entered WW 2 and Hitler didn't want to fight us), democratic, bastion of civilisation where free speech was valued and we were source a some of the world's best literature, science and engineering, etc. We also were a permanent member of the UN and had developed atomic weapons. Our 'World Policeman' role continued with the likes of the Palestinian Mandate, Korea, Malaya, etc., The US let the French and us down at Suez, with Eisenhower subsequently saying that doing so (against his wishes) was the biggest regret of his life. Post war taxation (inheritance tax at 73%, for example) took money out of the economy and (along with poor funding for academia) led to a brain-drain to the US. Much of the science and natural history with which the UK led the world resulted from a society in which a class of people (the rich and, frequently, the clergy) had free time to study things whilst the lower classes worked for them. "Post structural" Britain after WW 1 had many fewer servants/workmen available and the competition arising from the reduction in the number of young men raised wages to a point where a full household of staff could not be sustained by the higher classes. The UK was also complacent in thinking it had a captive market in what was the old Empire, which it did for a while, but poor investment in (for example) the car industry meant that products were overtaken by those from abroad. When the US voided the Bretton Woods agreement in 1973, a system of fixed exchange rates changed to floating rates and economic turmoil. The "petrodollar" agreement in 1973 helped the US fiscal debt but didn't do others any favours. Expectation of continued relevance also came from having defined various global standards (and expecting that to continue), a massive Merchant Navy (which became redundant / relatively expensive at the end of Empire) and a large and widely-deployed navy that could have guns off the coast of an uppity nation within a matter of days. The UK became notorious for not exploiting things it invented, instead allowing the Japanese, etc., to produce new products at a lower price a better quality. Technological marvels also came unstuck on the rocks: Concorde was not only foiled by the oil prices but the US's "not invented here" syndrome that banned it from overflying the US mainland; TSR 2 could have been world-leading but the Australian order crucial to it's viability was lost when the US offered the F-104 at a very cheap price; our space programme ended when the country started running out of money and was the subject of extended industrial actions. Continued relevance was also due to the level of influence we had through trade, with the UK being for many years the country with the greatest amount of foreign investments. Not that any of this really matters - we are confident that God is English, plays cricket, likes a good cup of tea afterwards, and that Heaven looks like Yorkshire 🙂.

[@ab-ym3bf]

They had no idea how to accomplish that, other than shout loud, and have a firesale of everything publicly owned. Now having reach the inevitable end of the line, chickens are coming home to roost and the decline is setting in fast and furious.

[@ab-ym3bf]

​@@hughnsure, you had to pay for the rebuild of the German and Japanese economies, and kickstarted their industries. What would the world do without the English, financing and facilitating everything. What load of self congratulatory nonsense

[@Crowshatecheese]

The only way to win in the uk is be part of the great transfer of wealth and very a state benefits recipient. Working or owning assets makes you worse off under these tools

[@ep1929]

Inflationary pressures are due to hit big time after Christmas when employers NI & the minimum wage increases. Also many jobs will be at risk - tighten your belts folks!

[@SlowhandGreg]

Small firms got an uplift to the NI threshold many will see employers go down, the hit will be against the weatherspoons of this world that milk the system Also you can write of 100% of capital investment in the business now Reducing low paid jobs is a consequence hopefully the Investment in infrastructure will compensate for all those unemployed u23 bartenders

[@ep1929]

@SlowhandGreg it going to be a spiral of decline, mark my words. The country is skint, deep in debt and plagued by low moral. Ask yourself who is happy at the moment?

[@bmarcus1282]

Always great content

[@RB-cs5dw]

The reason building in UK is so expensive is because there are too many hoops to jump to get anywhere, the system needs to be simplified and fast or it’s the end for UK

[@swojnowski453]

it is the energy stupid.

[@andrewharris3900]

@@swojnowski453 Energy is expensive but still the regulation and bureaucracy is out of control. The Government needs to restore property rights.

[@Zenkrypt]

Exactly, same with the tax system. Regulation is not the issue, it's the complexity of the system, for which it has no reason to be. You can have tight regulation, but in a simple system and the cost will go down and the rate of building will increase.

[@swojnowski453]

@@andrewharris3900 MOst of the time governments restore only their rights and any crisis is good for that.

[@573lbt]

The problem with Britain is clear to see not just in our govts, but in these comments too. Criminally shortsighted govts, and an electorate with a painfully short memory. We’re fucked because we’re stupid. And I’m afraid that stupidity and shortsightedness, alongside our fantastically short memory, will bring the tories back in when things don’t magically get better immediately. Then, we’re really, really fucked

[@klawlor3659]

Does it matter which establishment party is selected? As they are all (Con, Lib and Lab) puppet parties, why does it matter?!

[@trevdean540]

Its not just the UK! Europe & USA are in the same boat.The debts in these countrys are unpayable.The majority in the West will get poorer until the collapse!

[@SteveBillet]

When inflation is high FED had no choice but to raise interest rate in order to bring inflation down and you think about what actually causes inflation its a sharp increases in prices of our goods and services and really housing cost is probably the main driver of the inflation. Before 2020 Average household in Ontario spends 35% for housing and now have to spend more than 65% and keep rising. Personally, my investment portfolio has flourished under the expert guidance of Leasie Aiken, yielding over $1.7M in just nine weeks. In these uncertain times, remember the old adage: fortune indeed favors the bold!

[@SteveBillet]

She's mostly on Telegrams, using the user name

[@SteveBillet]

LeasieAiken

[@Ryanmacrillo]

LeasieAiken is among the best traders on the internet and I'll keep saying it every time.

[@alexisjanedeleon]

Thank you. I have searched, her and message her on her Telegrams, I think I am satisfied with her experience

[@Jamiebirch1514]

This is why it is advisable to connect with a true market strategist in order to avoid missing such opportunity and maintain steady gains.

[@paulmoore120]

Great presentation.Thanks.

[@TonyHills-c2d]

Three lane economy. Enterprise makes the money, big state and mass immigration spend it., but they continue to spend more than we earn.

[@Hemswell]

It is amazing how few people actually get that, and what's even more alarming is how many think it is alright to do so. That's socialism for you.

[@SIGSEGV1337]

Alot of people my age are leaving the country, I think I'm next

[@zzz2215]

No one can ever actually explain how or why the private sector is able to coordinate and supply crucial foundational services to the UK economy (remembering that key services like infrastructure, transport and healthcare must be available to all to unlock wider economic benefits) without the state ending up subsidising these private enterprises anyway. This nonsensical childish 'unleash the free market' red herring is what got us into the dire inefficiencies we see, from ridiculous utilities and energy costs, to the crazy cost of private subcontracting to public services

[@stephfoxwell4620]

This lot are clueless. Raising Employers Nics is madness.

[@bn_kf]

When they calculate ‘real’ wages, how our housing costs factored in, as what % of the consumption basket? Is it possible that this is systematically underestimated and so real wages growth has been *over*estimated eg in the US?

[@pinkoojee]

Building new homes can boost the economy as building supports many industries, but this would need thousands of new skilled construction workers , where are these extra construction workers going to come from ?

[@jamesgeorge8915]

From the excess supply of psychology/film and sociology graduates, amongst others. Less coffee barista's and more roofers, carpenters and brickies.

[@quackcement]

I would create an exception for house building migrants, overall though migrants drive up house prices

[@alana8863]

@@quackcement The rich are the main problem for house prices. It's they who are buying up more and more properties, and then renting them out to those who they outbid for those properties. Migration is essential for growth. We just need enough houses - and that's why the government is doing this.

[@nifigasebe]

From Uganda.

[@jamesgeorge8915]

@@pinkoojee if British schools helped kids develop skills in trades such as plumbing etc many more would take up this carers

[@vonder7]

USA is the leader in AI but UK is the leader in regulating AI. 😂uk is also the leader in taxing middle income people to the brink.

[@meglobob9217]

Labour should push for a trade deal with the USA. They have a much better chance of getting a trade deal with Trump then the Democrats. Trump likes to do deals, very likely he would be open to it. If UK got a USA trade deal we would not be effected by tariffs that Trump is going to impose and it would offset the negative brexit. Also, we would suddenly become very attractive to foreign investors having a unique position in Europe with a USA trade deal.

[@Potatoman7]

What should the government be doing, I’m thinking state owned Nuclear power stations, government owned council houses so that the government can generate an income from their assets/investments.. make it attractive for business to operate in UK not tax them to extinction are my ideas.. anyone else got some ideas ?

[@briankerrison8504]

We were already doomed, before Labour took up the reign.. we are a sluggish old cart horse.. competing in trade races.. our position has been weakened ..& we are no longer a leader.. we are now a smaller Britain.. & ppl will suffer unless we have a fiscal boost in are economy .. for that we need stable ground so trust can be built.. & it’s going to take time.. we may see some forward movement in this first term.. but realistically, it will be towards the end of second term.. 🤔🤔

[@ThomasBoyd-t7g]

Awesome thanks. Pietro Boselli Italian he British citizen he vote Labour party UK general election in 2024. Thanks brilliant summary.

[@Owen-sm7ob]

My fear is that we will basically have a economy of unrevearsed Tory austerity + Labour's high taxes and we end up in the worst of all worlds 😬

[@andymax1]

I can’t be alone in being disappointed with Labour so far.

[@stevesmith3990]

Disappointed is not a strong enough word unless you actually voted for them I suppose, in which case more fool you!

[@andymax1]

@@stevesmith3990 Nope, abstained complete apathy on the options available.

[@klawlor3659]

​@@andymax1possibly the best option. When all the choices are the exact same, why bother?

[@lokesh303101]

The Investments have been dried up by the less demand in the Economy. The Savings aren't up to the Inflation Requirements to have the Percaptia Incomes. Everything is Too Pricey or the Demand is Dud. The Inflation is to be under Control means to say moderation of interest rates. The Market Activity needs to be of Enough Response for Growth with the Lull in Burn-of-Cash by Avoid of Tax-Cuts. Investments got to have the Boost Up!

[@tropics8407]

Didn’t you say this type of investment was needed ? 🤔 tax, borrow and QE money print your way to prosperity ?

[@Zenkrypt]

Yes, but it needs to be focused towards those who are wealthy, but also inactive, and inheritance tax (if you're going to inherit loads - why even work?). Also, the investments have to be done correctly. And, there is a certain point where too much tax destroys productivity, such as the effective 100% tax rate when you are earning around £100,000 (for earnings over £100,000) with children, as you lose the child benefit.

[@MRW515]

Governments create the environment, and governments do this using taxes. 1) The government need to encourage research and development, 2) Government needs to encourage exports by creating incentives and advice as to how export products. Companies will be rewarded the more they export and the more jobs they create. 3) Governments need to supply cheap energy Labour is failing on everything

[@Hemswell]

The government needs to get out of the way!

[@MRW515]

@@Hemswell i am not sure what you mean by that, but the government needs to create the environment. They have picked advisors from pressure groups and DEI. Labour had years to create really good team yet they are a disaster

[@ThomasBoyd-r6c]

Awesome. Brilliant content. Spot on about Britain in United Kingdom 2024.

[@jamesmulrooney3309]

Labour are just a stepping stone to another party that will actually serve the people, but hopefully they're not as bad as the tories were for now. However you can't keep throwing money at the NHS, they need to fix staffing levels and apprenticeship job incentives

[@charleswillcock3235]

1.36 The NHS - for me it is blindingly obvious that the UK for one country faces a massive obesity crisis. Unless the nation loses a serious amount of weight we will never be able to throw enough money at the NHS. Ultra Processed Food (UPF) needs to be labelled like in Chile and have at least a 20% tax applied to it. The nation needs to change our eating habits. My doctor's surgery is very interesting the doctors are all slim and look very healthy and the support staff are all over weight. The irony as the nurse who measures your height and checks your weight is definitely over weight. I think Reform, split the Conservative vote, and thereby flattered Labour. I think the big mistake is to think a lot of people wanted to see taxes rise. What a lot of people wanted was the Government to get a grip on immigration.

[@Hemswell]

Anybody working for the NHS with a BMI over 25 should be put on special measures and then sacked if it is not brought under control. Also, take fry-ups and all processed foods off the canteen menu.

[@charleswillcock3235]

@@Hemswell That would certainly fix the obesity issue in the NHS and would help cut the wage bill roughly in half if not more. I am over 25 BMI and, believe it or not, am occasionally complemented on being slim. I am currently about 14lbs over weight. I have lost 8lbs in the last few weeks by slashing the carbs I am eating, UPF, and fruit such as apples and oranges, which I thought were really healthy, but turns out all that sweetness is sugar. The more I have looked into what as a nation we are eating the more obvious it is that the UK, USA, much of the western world has a very serious issue with excess weight, and unless we as a society fix this the outlook is not good. On the plus side at least your own weight is something you do have control over.

[@jamesgeorge8915]

Social care costs will be going through the roof in the next 5 years.

[@simony2801]

It’s great putting the minimum wage up but that coupled with the costs of the increase in national insurance will be passed onto the public.

[@edwardmiller3859]

They all agree we are in a managed decline

[@ga21351]

Fighting debt with more debt 2008. Brexit? More trade deficit? More budget deficit. More QE ? Now world depresion. Well hyperinflation is waiting for UK.

[@LiMann-qh5ev]

Could you please make a video about Germany?

[@quackcement]

When voters are dissapointed by torys and labour it gives room for liberal democrats and reform to gain in next election

[@alana8863]

But that won't solve the problems of Brexit, a growing elderly population with fewer workers (Reform will make that even worse), and low productivity. Ironically, it's higher tax that encourages businesses to invest in order to offset their liability.

[@420haxx]

I'm afraid there will be a hard swing to the right(reform) after this shambolic government is done.

[@quackcement]

if the uk ecconomy wanted fixing 1)enforce pension contributions into the UK (at the moment its a patheric 10%, with most of our countries pension investments going to the USA instead of the UK 2)sign a tariff free trade deal with either the EU or USA (easier said then done I know) 3) grow the tech sector, and create incentives for graduates to learn highly demand skills. none of this is easy due to political resistance

[@ab-ym3bf]

Isn't ukgov, no matter who is in charge, more doomed by incompetence than circumstances?

[@williamkennedy5492]

A check out lady told me " they will wipe us out !!" Another lady in another shop told me " we are all afraid for our jobs, With the NI hike and minimum wage increase, People will lose their jobs," As a 73 year old i can honestly say every time labour get into power i am worse off, and now we have to cope with their net zero madness, and costly policies, where are people going to get money from to survive when labour has killed everything off. Clueless doesn't seem to cover the catastrophic nature of this government.

[@johnmunro4952]

Has it occurred to you that " every time labour get in" it's following a lengthy Tory government?

[@crapmalls]

You are the carbon they want to reduce

[@crapmalls]

​@@johnmunro4952blair was pm for how long? Oh a decade. But ok sure

[@davideyres955]

73 years old and more sense than 9 million of the population who voted this shower in. The problem we have is that most people didn’t live through the 70s Labour government and the IMF bail out, winter of discontent, power blackouts etc. The country sacrificed a lot through Thatcher but it made us the 5th biggest in the world but we also had North Sea oil and the Big Bang to fund it. Labour are a catastrophic disaster. They actually have no idea how to run the economy and are steering the UK titanic right at the iceberg rather than away. We are doomed unless we get rid of them.

[@Hemswell]

​@davideyres955 Well said, Sir!

[@ngauruhoezodiac3143]

Britain has to negotiate new terms with the EU.

[@samking4915]

if Uk doesnt rejoin the single market asap the labour gov will not achieve economic goals

[@fcassmann]

Not gonna happen. 🇪🇺🇳🇱

[@RogerBenno]

The labour government have no ideas. I dont include taxing and spending for public sector pay rises an idea. This government is rhe last chance for big government, big nhs, lots of civil servants and beuracrats. In 5 years time the uk voters will be left bewildered where all their money went. I can tell them. It will be spent by civil servants on foreign holidays, cars and take aways. Nothing of any note will xome of all rhe money spent. All there will be is the liability of all the new beuracrats, their gold plated pensions and salaries You get what you vote for.

[@edwardmiller3859]

It still doesn't stop them claiming 250k expenses a year

[@williamwigmore1968]

Who thought raising taxes would boost growth

[@alana8863]

Higher business tax encourages investment to offset said tax. Our biggest problem is that low business tax has discouraged increased productivity - the bosses have filled their boots, and gone off on the yacht to warmer climes. Time for us to get back to investment.

[@williamwigmore1968]

@ It doesn’t if said Tax is spread thinly throughout our budget, e.g. spending half on it to a beleaguered NHS whose beuracrats will swoop up half of it. Not only that but higher tax discourages businesses to set up shop here if they know large portions of there profits will be swooped up by an inefficient state. Is it any wonder over the last decade that our Tax burdens soared and our GDP has flatlined. I don’t think it’s the root cause, that would be a cumbersome planning system for developers, but it’s certainly a contributing factor. The only reason I could think this would be an efficient use of money is if they used it to upgrade failing infrastructure and backlog of housing.

[@Matt-dr5et]

Tax middle earners 45% very clever minimum wage catching up with average wages. Keep people poor and tax them a alot.

[@jamiearnott9669]

Doomed? Not necessarily, and especially on information technology and business services to a record nominal trade with exports over $1 trillion since Brexit and the global COVID health shock.

[@mikez2779]

gee, if only there would be a solution to building A LOT of flats and quick available somewhere in the world like say.. i dont know.. blocks of flats build with prefabricated modules sure, it aint the prettiest housing out there but faced with a choice of paying 1000 a month in rent for a room in cramped HMO i'd take a flat in commie block any day

[@drscopeify]

The UK has large wealth locked away in the hands of people over 50+, the question is what can the UK do in order to get people over 50 to deploy their wealth in to the economy by spending it inside the UK. The money invested in to foreign or US stocks and bonds, or buying property or vacations in Spain, is lost growth for the UK. I think opening the UK ocean front beaches for mass development, opening the door to casinos and large entertainment, creating the facilities for people over 50 to spend money may help or other creative ideas.

[@Lighthawk1986]

There’s enough bookies everywhere already. Farming money from people might help short term, but the uk is screwed if it keeps thinking short term.

[@patriciawaplington9808]

nothing about billionaires hoarding wealth, handing it down, promoting inequality

[@dominusdevacore517]

If you could tax the dead, you would.

[@Hemswell]

Which is exactly what inherritance Tax is.

[@420haxx]

Strange how half my comments get deleted on this channel.

[@spacemonkey200]

This guy is still sulking about Brexit even when it has boosted UK exports.

[@fcassmann]

Yeah right😂 🇪🇺🇳🇱

[@Michael-bw9hq]

I just love how depressing this guy is always negative, always criticism, always tearing things down, never solutions, never positivity, never building anything. It’s like he’s been transplanted from the 1984 novel the “ministry of truth” it’s so depressing it’s actually humorous….. Britain will be just fine. It’s more tenacious capable than you could ever imagine and less crazy than many other places in the world. 😊

[@techno6637]

Well the UK has been battered to the ground for the last 14 years, it's hard to look up. Though it's impressive that the new government didn't even implement their first budget and people are already spelling doom.

[@Zenkrypt]

​@@techno6637 being pessimistic is essential to being British, so you can never be disappointed 😂😂.

[@ragnarob]

Great presentation, UK has suffered from populism voting since 2016 thinking its all quick fixes and unfortunately labour has to be the adult in the room for a while hopefully the electorate sees the small but steady improvements from internal policy and external policy like better EU relations. A "yes but not enough" idealistic mindframe that creates apathy for voting can cause populists to get back in. Labour might want to look at digging into the bank a bit more or at least releasing serious liberal social policy to quel the left doomers that become disenfranchised to vote quickly. Thanks for the great analysis!

[@julianshepherd2038]

We have done the same thing since 1979, pretend you can run an efficient economy by simply and suddenly slashing budgets.

[@Lighthawk1986]

Labour and tories have been almost the same since Tony Blair won. If immigration isn’t handled in a more reasonable fashion then labour isn’t going to win again either.

[@zeeshanmahmood5913]

Labour almost Done

[@techno6637]

They haven't even started yet 😂

[@nickj3287]

To many cooks with only one recipe...

[@1292liam]

labours additional stamp duty for 'would be' landlords, will screw renters even harder. They will lose the renter vote

[@SilentWalker-if4nc]

Brits need to stop fighting amongst each other over identity politics and start cooperating to make our concerns heard. Social divison is the enemy of progress. The problem is clearly not dire enough though. No demonstrations, petitions or coordinated calls for urgent solutions and accountability. just more finger pointing at others and acceptance as usual. we will lose our democracy this way because we dont use it

[@ianbird7444]

Labour have battered the pensioners ,business the farmers GPs and now there going after pensions its not there money they need to be voted out at every opportunity at council and MP level 5-10 yrs of this rubbish O DEAR GOD SAVE US FROM THESE IDIOTS !!!!!!!

[@SlowhandGreg]

I'm a pensioner the £300 in lost allowance is nothing payment, to some on the breadline they need more but 80% of us have savings and own our own home The last figure I saw was 1.5 trillion held in ISA's

[@Zenkrypt]

​@@SlowhandGreg Yes, 25% of boomers in the UK have over £1m in wealth. What the government needs to do, is to cut the costs down on the care of boomers instead of raising pensions for them. Many predatory firms are charging over £60k per year just to take care of one patient, and the government needs to punish them, and probably incorporate it into the NHS, as it seems like it would generate the money the NHS apparently needs.

[@Zenkrypt]

Also, the problem was that it's means tested. It encourages those to not work more to try qualify for it, reducing productivity. It should have been kept, or totally abolished.

[@neilmutch2994]

We have had 40 years of neo Liberal economics, it has not worked, a few at the top have creamed off all the assets made them even rich, the rest are bobbing along getting relatively poorer. I don't think blaming the Labour for the crap we are in now.

[@Zoro007]

Every " Promise" he's made is solely on his own behalf. He didn't ask me as a pensioner if I'd be happy to forgo my £300 to help with heating, if I was happy to financially support, shelter,feed, cloth, give free bikes, iPhones, travel illegal immigrants, if I was happy to support the evasive issues that are going to be born out of Net Zero and the financial hardships that's going to inflict on me, if I was happy seeing farmers threat for their livelihoods and land, if I was happy to see 1.5 million houses to be built to mainly go to illegal immigrants etc..etc..etc. I cannot see him or his Party lasting very much longer... abysmal leadership.

[@ConsumerWatchdogUK]

The economy is like a car driving uphill, while the state is a caravan the car is towing. The larger the caravan the tougher it will be tow up that hill. We're reaching the point where the caravan is so large the caravan will drag the car back down the hill.

[@davidgncl]

Not exactly. The scandies and others have a much higher tax burden with well ran economies, so it depends on how the state operates rather than its size.

[@ConsumerWatchdogUK]

@@davidgncl Economies aren't run, they are interfered with. Either way Denmark is slightly lower than UK, Sweden slightly higher. UK also paid for 2 world wars and started declining earlier. There might be more efficient states, and/or less corrupt governments, but that's irrelevant to the point of the analogy. UK state cannot be swapped for the Swedish state, and increasing the size of the Swedish state will have the same effect on the Swedish economy.

[@davidgncl]

@ConsumerWatchdogUK yes they are interfered with, in the abstract sense, but they are certainly moulded by political ideology along with the other factors such as geopolitics, culture, natural resources etc. I think the UK is certainly a 'senile economy' that will take more and more interference. But i am not convinced that a much smaller state size will unleash it - what more value can it produce/export? We need regulation and investment into biotech, AI, robotics, space sciences and green energy as they are the new frontiers and new avenues for growth. The USA has shown that state involvement in tech revolutionises and stimulates growth.

[@warfish0r]

With a smaller state there would be no roads to drive on and you would have been killed by an uninsured & unqualified driver before even making it to the hill. The airbags could have saved you, but with no regulation, it's more profitable not to include them. The ambulance could have saved you, but they've all been sold off to Mike Ashley for use as delivery vans.

[@Zenkrypt]

​@@ConsumerWatchdogUK What is so big about our government?

[@mwicks1968]

We need MORE Immigrants ... ??? 🤔🤔🤔

[@JoBo301]

Any economy based on high tax, high spend, high debt and high immigration is doomed to bankruptcy. The only solution is austerity.

[@vbsbkjer2]

Brexit?

[@3ntomcrav]

Is the Economy Doomed by Labour Goverment? There, fixed it for you🤝

[@phils4634]

As to the problem with UK home construction - KZbin has more than enough examples of "New Build disasters", and not always at what passes nowadays for the "budget" end of the market. For example - kzbin.info/www/bejne/q6LHg5x4e557grM&ab_channel=NewHomeQualityControl

[@garyb455]

1,000 businesses closed last week alone, the Country is finished unless we get rid of Labour very quickly. If you have a job look after it because recession is coming. Nobody is going to invest in the UK with Labour in power.

[@Alex-fm5ke]

Tens of billions in investment has already been announced by the private sector since labour came into power and the government is going to invest more than the last Tory government did in 14 years.

[@ajeeshvijayan3869]

14 years!! the British people allowed the Tories to screw them for 14 years.

[@garyb455]

@@Alex-fm5ke They are telling you lies, would you invest here ?

[@TheNagaf]

@@Alex-fm5ke Invest in what ? nothing that will either stimulate or grow the economy. This economy will collapse and quickly. All going exactly to the globalist WEF plan ushered in by their useful sock puppet Starmer. He's a disaster for this country and serves only the WEF, do wake up.

[@Burty117]

@@garyb455 No one has been investing for many years now, it's no different than it has been for a long time. Don't try and angle the question like everyone was investing before labour, that's utter nonsense.

[@GeorgesDupont-do8pe]

Eh? We might just start liking the IMF soon, what say you?

[@Brisamars-q1c]

Have you read Vassal State? Yup, 🇬🇧 has been reaped. What economy? Any gumment would be a lame duck gumment.

[@luluisze]

3 things forever hold back uk economy, uk cant be save if uk stubbornly keeping them. 1. pouring tax payer money in NHS, it should be a co pay system like rest of the world. 2. Stop blindly increase minimum wages and employee benefits, workers are lazy as F. 3. Stop high tax and stop the pension nonsense, start giving people to take care own retirement and health care, not collectively drag down everyone into S hole

[@Hemswell]

Your points will be welcome by many. However, they go completely against the socialists' agenda.

[@mikethebloodthirsty]

With regards to the NHS, the reason we are 'throwing' money into it is because it has mostly been taken over by private interests, we have been left with the loss making parts. It was a PERFECTLY fine model that worked beautifully for decades before Thatcher then Blair began to dismantle it. Your other two points are so dumb I can't be bothered to respond any further.

[@zzz2215]

So your solution is to allow for wage depression so that working people earn less, have less consumer confidence, save/invest less and have no incentive to work harder/be more productive becsuse work won't pay the bills when in your world minimum wage isn't a living wage? Very clever, wonder why that hasn't been tried yet...

[@mikeandcheryl]

Regardless of who is in power and what policies they adopt I find I am always only a few quid better or worse off at the end of the end of the month. I loose out on some olicies but gain on others. My only beef is that Government never fails to waste money. They are significantly less efficient than the private sector and have much higher absentee rates. That's not to say privatise everything just make them more accountable and sack those who either don't perform or fail to manage. In the many years I spent in the RAF I'd say as long as a civil servant plays the game they will never be sacked regardless of how inept they are.

[@redbruce1999]

Will AI come in and save our god damn sorry asses? (Sorry just had to slip in the Americanism into a legit question)

[@SubjectiveFunny]

All they have to do is listen to Trump. Get us cheap oil, get us lower interest rates, deregulate, let the private sector do the rest.

[@XxJack893xX]

Where will the uk get cheap oil from? North sea oil and gas is small in comparison and more expensive to drill out

[@SubjectiveFunny]

@@XxJack893xX You answered your own question. Stop parroting the governments nonsense. How the hell you people still believe anything they say is actually beyond me.. I would be embarrassed..

[@alana8863]

@@SubjectiveFunny True Trumper's reply!

[@alana8863]

The Tories did all this right-wing 'keep interest rates down, deregulate, let the private sector do the rest.' Worked out well, didn't it?

[@420haxx]

The private sector and politicians in their pockets is why this country is in such a mess in the first place.

[@KienTang-y8u]

No… the economy is doomed by Labour

[@alana8863]

No, the economy has been wiped out by the Tories. Look around you. All governments have the challenge of population decline, and Brexit was a great way to make things much, much worse. Labour will try to sort it out, but much of the damage has been done.

[@420haxx]

The economy has been inevitably doomed ever since neoliberalism became the driving force behind it. All short term gain(for the very few)at the the cost of long term decline of the country as whole, every government since Thatcher has had a hand in it's downfall.

[@AKK5I]

Explain?

[@Hemswell]

I'll put this simply. The problem is balooning statism. A huge public sector, welfare state, and burdonsome legislation put in place by jobsworths. The government is going after the easiest money it can find to keep funding all the above. That cannot last, and when it ends, which it will, where will the money come from then? So they are now going to pool some £80B of council pensions (already funded by taxes) to fund infrabollox projects; much of which we do not and will not need. Again, they are just projects to keep people temporarily in a job. Green energy? So, who picks up the tab when the projects go bang and there is no money to pay the council pensions? Oh yes, that's right, they will increase taxes and very likely impose bank account hair cuts. The state needs to be cut to give the private sector a chance to grow again. Otherwise, unemployment is going to grow, business will fail, and those taxes will vanish. This UK economy is like a locomotive approaching a collapsed bridge. The driver will be the first to jump, and everyone else will be left to suffer the wreck that is beginning to unfold.

[@Burty117]

Thatcher completely stopped Councils from building houses, expecting the Private sector to ramp up, they didn't, in-fact, they slowed down, now here we are, all these years later, with major issues. You cannot simply expect the private sector to grow.

[@alana8863]

That's what they've been doing under the Tories. Destroying public provision. If you think we have too many hospitals, doctors, nurses, police, etc then you haven't been looking! We've had fourteen years of cuts. Advocating more isn't wise! As for your dismissal of green investment - you do know that most of the energy coming from your mains is renewable, don't you?

[@Hemswell]

​@@Burty117On the subject of council houses, I suspect you have obtained that information from the British Biased Corporation. The official figures tell that the Thatcher government achieved no fewer than 17,000 every year Mrs Thatcher was in power, while Labour under the despicable Blair and Brown achieved a meagre 7,000 council houses over the entire 13 years they were in power. You couldn't make it up. Also, under Mrs Thatcher, a greater number of homes were built, and a higher percentage of which were allocated to local authorities. Go figure! On the other point you make about the private sector, I could not disagree more. Why? Entrepreneurship! This is why so many individuals have set up their own businesses. Now, Labour comes along with huge taxes (plus NI and minimum wage), which puts a huge strain on all those businesses to make a profit and survive. They are doing this so that they can maintain a big state, big government, and big welfare. The cards are well and truly stacked against the private sector. Socialism really sucks the life out of a country. Taxation is a cost, and the main antidotes to it for any business are to refinance their debts, reduce investment, or reduce headcount; the last two are flying down track right now! This is not just down to the current Labour bunch but was nurtured by Cameron's Conservatives. Conservatism it was not. They just followed on from where Blair left off. Give it a couple of years until the tax receipts start falling substantially as businesses contract. Gilt yields are already climbing. The government is going to have to dig much deeper into people's pockets to fund its debt. That £80B of council pensions will disappear like the outgoing tide. God help us.

[@techno6637]

UK public sector isn't that big! 10% of the population (including kids and elderly) or 17.9% of the workforce compared to other countries it's small.

[@Hemswell]

​@@Burty117On the subject of council houses, I suspect you have obtained that information from the British Biased Corporation. The official figures tell that the Thatcher government achieved no fewer than 17,000 every year Mrs Thatcher was in power, while Labour under the despicable Blair and Brown achieved a meagre 7,000 council houses over the entire 13 years they were in power. You couldn't make it up. Also, under Mrs Thatcher, a greater number of homes were built, and a higher percentage of which were allocated to local authorities. Go figure! On the other point you make about the private sector, I could not disagree more. Why? Entrepreneurship! This is why so many individuals have set up their own businesses. Now, Labour comes along with huge taxes, which puts a huge strain on all those businesses to make a profit and survive. They are doing this so that they can maintain a big state, big government, and big welfare. The cards are well and truly stacked against the private sector. Socialism really sucks the life out of a country. Taxation is a cost, and the main antidotes to it for any business are to refinance their debts, reduce investment, or reduce headcount; the last two are flying down track right now! This is not just down to the current Labour bunch but was nurtured by Cameron's Conservatives. Conservatism it was not. They just followed on from where Blair left off. Give it a couple of years until the tax receipts start falling substantially as businesses contract. Gilt yields are already climbing. The government is going to have to dig much deeper into people's pockets to fund its debt. That £80B of council pensions will disappear like the outgoing tide. God help us.

[@johnholkham2420]

Yes the banks received huge support which they have in the long term given to shareholders.

[@markbaldwin5455]

Doom & gloom. I am waiting for Planning reforms. There is a way out re. new housing though - a government building company, similar to the Council housing of the 60`s.

[@IainFrame]

Doomed by their own incompetence and bonkers ideology.

[@1292liam]

rejoin the EU

[@cameronfateweaver2206]

If you were born before the 1970s all of the problems we have now are entirely your fault.

[@nker2359]

"Is the UK economy doomed by labour?" Should be the title of your video Your content is very biased towards an anti-Conservative stance and cannot be taken seriously once you start talking about politics

[@jonnoMoto]

Did you keep your receipt? You should ask for a refund.

[@alana8863]

I thought it was anti-Labour. Must be you didn't hear the criticisms of the budget.

[@420haxx]

There is nothing in this guys content that is remotely anti-conservative, he simply draws his conclusions based on empirical data.

[@pja8901]

The BoE and the OBR have revised UK growth and household disposable income downwards since Labour's Autumn budget. He can only talk on the current government and the data being presented. You're the one showing political bias, not him.

[@Zenkrypt]

The economy and state of the UK is because of the conservatives. We should do well to not listen to them for a while. Populist Tories is what drove us to this mess.

[@ThomasBoyd-t7g]

Duncan mcphee Lawyer Conservative he cares about himself Thomas he nothing for Scotland or you his salary £60000 per year yes Italy told you the truth. How many years Labour party want UK British government 10 years in power 2034 yes. Did think Tories win 121 seats no Thomas.