Where is the UK economy now?

[@TAP7a]

The main problem with neoliberalism is eventually you run out of state assets to sell

[@lukebignell7846]

They've sold everything off haven't they. I cannot think of anything that is not owned by foreigners now in the UK. Even the politicians have been sold off to the highest bidder

[@andc154]

Yea and we can’t seem to sell ours fast enough. Or cheap enough!

[@hickorywind7859]

@@lukebignell7846 Scotland's water is still publicly owned. Tories will cock that up too eventually, no doubt.

[@fearnpol4938]

England will sell as much of Scotland and Wales off as it needs to survive.

[@1967deek]

The Tories sold everything the country owned.

[@ac4486]

Rachel Reeves knows this stuff. She isn't (that) stupid. The questions are WHY she is doing this, and in who's interests is she working for?

[@martyn8116]

Best comment 👍

[@TobotronPrime]

I think it's because to do something different risks the financial markets coming for us (as a nation) and so it is safer to do nothing. They (the government) are completely risk-adverse, but as we know, if an individual goes through life taking zero risks, they tend to not get very far. You have to try things to get ahead. We have all the components to move forwards but a combination of lazy government and simple profits before innovation are rife in the UK.

[@redbruce1999]

One explanation is, she lacks to "guts" and confidence to do this. She feels boxed in. Part of the issue is psychological. Look at all of the hate/criticism she faces now (from all quarters) for making marginal changes to NI and NWM. And imagine what it would be like if she announced she was going to do something radical (and risky) like taxing the wealthy and overriding the independence of the Bank of England? The hate she faces would be ramped up 10x. I know many won't agree, but this has to be a factor. Politicians are human. And politics isn't all about what is logical.

[@markhinson9150]

@@martyn8116 100% agree.

[@JLSMaytham]

High interest rates help to pump wealth to the already Very Rich

[@sarawilliam696]

The FED knows. They aren't committed to attacking inflation. They are going to continue to inflate, stocks and commodities will continue to go up with everything else. You can't just sit on cash waiting for a crash, get your money working for you, start buying in slowly and then gradually increase the pace of buying as the prices continue to drop.

[@Pamela.jess.245]

It's a fact that recessions are a natural occurrence in the economic cycle, and the best approach is to ensure you're ready for them and have a proper plan in place. As someone who entered the workforce during a recession (2009), I experienced the direct effects of inflation and discovered the importance of generating increased passive income to counter it.

[@NoorJari406]

Experienced long-term investors are aware that the market and economy have a tendency to bounce back over time, and it's wise for investors to be prepared for such a recovery. Speaking from my own experience, I continue to invest heavily in this volatile market and have achieved significant gains - my portfolio is presently up by 60%. For now, I'll keep a watchful eye on the situation and gradually invest in more stocks as opportunities arise.

[@GurinderKaurHehar-xy09]

How did you achieve it? I been trying to stick with index funds. I feel this new interest rates hikes could crash this economy. I'm looking out for a better investing strategy, I have a lump sum that inflation is steady eating up.

[@NoorJari406]

My CFA ‘’Aileen Gertrude Tippy’’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@GurinderKaurHehar-xy09]

I appreciate you sharing this. When I looked up the woman you named and read through her credentials, it was obvious that she was a complete professional. I just need her to respond to the message I wrote her.

[@jodders619]

Neoliberalism: the very definition of doing the same thing over and over and expecting different results. Tories, Labour, Reform all promise that if they get their hands on the wheel of neoliberalism it'll be different this time because it's 'them' doing it.

[@eightiesmusic1984]

It is the heart of the problem full stop. Reverse Thatcherism.

[@CurtOntheRadio]

what do you mean by neo-lib?

[@ianbanks3016]

@@CurtOntheRadio Look it up.

[@CurtOntheRadio]

@@ianbanks3016 But the point is it's a very nebulous term and can mean different things to different people. One can't tell what someone means without them being explicit. Thanks.

[@ianstevenson3628]

@@CurtOntheRadio basically it refers to 19th century 'liberalism which was to keep the state out of business. the neo or new, means it is current version. It believes that frictions to production are things like trade unions, taxes, regulation e.g. health and environment. So wages need to be kept down , state assets sold off and run for private profit .i.e. privatisation even of things like prisons . This will enable a lowering of taxes and that will be of most benefit to the rich as they have the higher incomes (often from capital gains ) and less so to the mass of the population who rely on public services.

[@Matt-ty3hr]

It seems to me that most of the problems stem from Private Equity firms who can smell blood in the water, and who own more and more of the UK; 2 million Brits (and growing) work for a PE owned company, and, according to BoE analysis, are larger and more vulnerable to interest rate rises as they have riskier credit than domestic companies.

[@martytrain]

I totally agree, rich people who have a load of surplus money realised a long time ago that if you lend ( invest ) this you can make a load more money. Its the rentier model which has been encouraged by previous governments.Most public services over time have been sold to private equity companies for the rich to get richer by renting or loaning out their money to support public services. There is no value added just a conveyor belt of lending finance to government and making profit without lifting a finger. This is also why we have to hear the media constantly churning out the usual spill about " the markets are not very happy about this and the markets are not going to let the government borrow anymore money because they want to take this and that back into public ownership " Its almost a worldwide model now, its all about renting and depriving ordinary people from owning a few assets of their own.

[@firebyrd437]

Vulture capitalists are the root of this wealth inequality. Already Wes Streeting has funnelled billions to private health companies instead of to the NHS. Anything that can go into private companies from successive governments has gone to them, building their wealth at the cost of the poorest in our society. The welfare bill could be substantially reduced if employers paid a living wage to their employees. Instead, governments are propping up businesses by paying tax money to uplift low wages to a slightly better living wage. The whole system stinks to high heaven

[@Incognito-jf1dr]

Absolutely spot on explanation. 👍 ​@@martytrain

[@alanhat5252]

Who gave Private Equity this power? Governments that we íđíóts put into power 😢 I do wish people would learn how to vote.

[@sirbillthegreat8871]

@@firebyrd437higher wages only leads to higher inflation. The problem is Uk workers have low productivity compared to to other countries and that is due to low investment

[@andc154]

In today’s economic climate, only by increasing the spending power of normal working people can we kick start the economy. Only by redistributing existing wealth! Spending is a form of investment!

[@physiocrat7143]

Better scrap VAT for a start, in that case.

[@andc154]

Scrapping VAT will have no real effect on wealth distribution. We need money flowing through the economy. Not stagnating and compounding in the bank accounts of billionaires.

[@jncg2311]

Absolutely. People are conditioned to kick back against taxation but we've got to a tipping point where it almost needs compulsory purchase of assets or a gross adjustment to wealth (not income) taxation, particularly of foreign owned wealth. Then the cries that they'll leave the country with their money will ring out but frankly, let them. Before they do, make sure they can't keep the assets though. The volume of property that then floods the market would do a good job of re-adjusting property value.

[@andc154]

If a massively wealthy individual continues to increase their wealth by tens of millions of pounds per year, at what point does an ethical society sufficiently tax them on those yearly earnings? It’s not even an economic issue, it’s a moralistic issue. Much of this income is passive, other than sitting on their existing wealth, they do not have to lift a finger for these type of earnings. When Adam Smith set out his four basic rules for capitalism, one of stated that the economy has to be run within an ethical and legally stringent framework. That’s it not what we are seeing today. If you have a few billion and you are making tens of millions per year, money is completely meaningless. Yet an individual making £60k a year will pay more relative tax than their super rich counterparts. But sadly many normal working people are increasingly misinformed and they are now fighting amongst themselves. This is by design of course. Yet they openly celebrate the very individuals that are dividing them and destroying their children’s future prospects.

[@physiocrat7143]

@andc154 Massive earnings are mostly not earnings. They are rent, mostly rent of land, including natural resources. The rest comes from IPR monopolies eg patents. Tax these at source and the problem goes away. Tax

[@lukevincent4141]

You make a good point about big businesses lack of innovation and focus on value extraction. Small businesses and startups are much more driven to innovate, disrupt and deliver customer service despite less resources. Our tax structure should support small business better than it does. It isn’t fair that national businesses have to compete with international businesses that can dodge their taxes, those tax loopholes must be closed! . We also need to reduce the risk of entrepreneurship no increase it. But also a founder who might hit a rough patch and wants to claim JSA has their household income and assets means tested but an employee who loses their job doesn’t. Entrepreneurs tax relief needs to be increased to make it worth while to take all that risk. It’s a long painful road to building something better and the more people that take it the more chance we have of growing successful companies.

[@markwelch3564]

A model that mitigates risks at rhe start, in return for a share of the success from the winners makes a lot of sense to me

[@Ghengiskhansmum]

Any UK business or invention that becomes successful is immediately sold to the US or highest bidder from another country anyway. Whereas other nations protect and grow their successful businesses.

[@julianhancock5330]

In truth some also opt for foreign ownership as they see better prospects in a more dynamic economy.

[@CurtOntheRadio]

Last time I was unemployed I thought I'd get back to computer repairs. I was put on some employment scheme and when I asked for some money (or use of equipment) to print leaflets I was told, "There's no money for anything , at all." Not even £100 for leaflets, which likely could have set me off repairing PCs and got me off the dole too. I mean, it's pathetic. This was during Cameron/Osborne's disaster. If you can't even help provide a bucket and rag for a window cleaner, what hope is there?

[@unirockproductions2333]

The most sensible comment I`ve seen on how to raise money for already struggling public services. Just close the tax loopholes, simple as that. I am a small online retailer and was shocked when I first learned that Amazon do not pay VAT on a big chunk of its income which is fullfilment fees. Neither do energy companies, train companies, the list goes on. UK small businesses on the other hand are taxed to death. I know sellers who deliberately refrain from scaling their businesses just to stay under the VAT threshold. How is that for growing the economy? Raise the VAT threshold, allow small businesses to flourish and compete. Also stop Chinese sellers dumping their junk in this country unchecked and undercutting tax paying UK small businesses.

[@AdamSilbert]

Don't simply retire from something; have something to retire to. Start saving, keep saving, and stick to investments. Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.

[@nicholaspostlethwaite9554]

No! Never save never build the government makes it quite plain be a wastrel, spend every penny you see. Fritter it away of trivial junk. Party, drink, holiday, have a car, a wife or three, tv subscriptions etc., brand label food and eating out weekly as well. They will make sure you always have as much or more handed out to you whenever you successfully have nothing left. That is what government Actions tell us to do. Never listen to the lying words, follow the free money hand outs.

[@AmirRezaie-d2h]

It's really heartbreaking to see how inflation and recession impact low-income families. The cost of living keeps rising, and many struggle just to meet basic needs, let alone save or invest. It's a reminder of the importance of finding ways to create financial opportunities. You've helped me a lot sir Jihan Wu! Imagine i invested $50,000 and received $190,500 after 14 days

[@RobertAlbrecht-c5d]

Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why l'm lucky to have seen someone like Jihan Wu.

[@HollyGarwell]

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

[@RichardArthurBaker]

I'm favoured, 90K every week! I can now give to the locals in my communities and also support God's work and the church. God bless America,, thank you Mr Jihan Wu😊🎉

[@robinspat]

Duke of Westminster inherited £9 billion to £13 billion TAX FREE in 2010 David Cameron’s mate. “It’s not my Bentley officer, it’s the estate’s I’m just borrowing it.” If Duke of Westminster had had to remortgage Mayfair et al to pay his fair share of inheritance tax… if UK government set inheritance tax minimum threshold at £5 million and properly taxed the actual super rich, taxed the super wealthy owners of 100,000+ acres land owners rather than hammer VERY SMALL farmers of small £5 million farms and less… Oooh er… flying pigs

[@col.hertford9855]

How about the rich, which includes millionaire farming land owners pay their fair share?

[@andyinsuffolk]

Why would transfers and gifts be any business of the state? Should your purchase of a chocolate bar for someone appear on your tax return? When did we have the referendum making all property a community asset?

[@Incognito-jf1dr]

Why should it be the business of the state to interfere in farming and agriculture and give subsidies for every acre of farming land and diesel subsidies too ?

[@andyinsuffolk]

@Incognito-jf1dr - If receipt of state support affects our property rights this should to apply to all in a democracy - I believe half the population are net recipients [?]

[@robinspat]

@@col.hertford9855 if you mean larger than 500 acre farms and some machinery out buildings and a home perhaps valued at £5 million but grossing, THAT’s grossing NOT NET after tax, £150,000 or less from which vets bills, R&M on equipment etc etc and some money as drawings for food, electricity etc SME’s I hope YOU MEAN THOSE WITH 100,000+ acres with Lord in their name right? There is a hell of a difference

[@thpark8189]

Labour did exactly what you always spout. They increased debt, increased public sector wages by more than inflation, increased taxes to record levels. And it’s a total disaster because it turns out that the people lending money to the government want interest rates that reflect the now-vastly increased risk that the government presents. The UK is well on the way to becoming a failed state, thanks to policies aligned with the tripe you spout every day.

[@watk-qx1mk]

That chap doesn't understand that there is no solution in fiat currency debt based system apart from to increase money supply to keep the system floating. We blame the wrong guy on the blocks.....ha ha

[@nnnn-mn8ud]

Funny how everyone on the sidelines knows the answer better than the people in charge. Why put interest rates down or are people happy with continued devaluing of the £1 ?

[@AlanBaird-u8j]

Dim-witted analysis Parky but then, Richard didn't give the usual neoliberal cobblers which the incurious always seem to prefer. Read up on your economic history post-WW2.

[@ryantennyson7562]

Yes tax the very rich more and prevent them from ferreting their money away to off shore accounts first.

[@goingpostal5858]

The rich will leave, then who do you tax ?

[@eightiesmusic1984]

@ Myth.

[@TigerP1]

@@goingpostal5858 They may leave but their assets (companies, buildings, factories) are here and cannot be moved

[@Prickly-Hedgehog]

The rich are already leaving. A record number will leave in 2024/2025.

[@Turbogaggers123]

​@@eightiesmusic1984 In 2024, an estimated 9,500 millionaires left the UK, which is a record outflow. This is more than double the number of millionaires who left in 2023.

[@GrahamWoodward-ww1zf]

Give the poor woman a chance, let her at least finish the Open University course in economics that she has enrolled on.

[@Matt-ty3hr]

She has a master's degree in economics from the LSE, unlike Richard, who was a chartered accountant. This is not to disparage Richard, but you can quickly see how this kind of comment is not actually helpful. I believe that Gordon Brown was the best chancellor we've had in recent memory, and he had a PHD in History. Regardless, it seems to me that most of the headwinds are from Private Equity firms who can smell blood in the water, and who own more and more of the UK; 2 million Brits (and growing) work for a PE owned company, and, according to BoE analysis, are larger and more vulnerable to interest rate rises as they have riskier credit than domestic companies.

[@CurtOntheRadio]

@@Matt-ty3hr Public panic doesn't help either. Nor do public demands for the impossible. What the hell are people thinking?

[@vgstb]

@@Matt-ty3hr Why are you lying? Please stop spreading misinformation and flat out lies!

[@Matt-ty3hr]

@ It'd be good if you tried to actually rebut the comment if it's not factual, rather than saying it's just a lie

[@billB101]

​@@Matt-ty3hrwell said

[@aarondemello]

It's a very good idea if people get to setup some stuffs aside for themselves that could be bringing them money apart from there businesses

[@KABACHERACHDI]

It’s really heartbreaking to see how inflation and recession impact low-income families. The cost of living keeps rising, and many struggle just to meet basic needs, let alone save or invest. It’s a reminder of the importance of finding ways to create financial opportunities. You've helped me a lot Elizabeth Jacob! Imagine i invested $20,000 and received $80,500 after 14 days

[@maithaipk]

Absolutely! Profits are possible, especially now, but complex transactions should be handled by experienced market professionals.

[@JpMunro]

Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like Elizabeth Jacob.

[@sandaman1113]

Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things

[@GraceUxam]

Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things

[@glynnwright1699]

SMEs don't get full refund on R&D, it is around 15%. And, if you use the facility, there is a strong possibility that HMRC will instigate a full forensic audit in the future which will cost the company more than the refund. Most SMEs conduct their own R&D because of the ridiculous overhead rates charged by academia. I can employ a postdoc with several years sector experience full time for one third the cost of subcontracting to a university for a PhD student with 5% supervision time by a member of staff. If you want examples of badly run businesses, there are plenty of examples amongst the universities.

[@CuriousCrow-mp4cx]

"Who can claim You should use the RDEC scheme if your accounting period began before 1 April 2024 and you’re a: - large company; - small and medium-sized enterprise and you’re claiming for work that has been subcontracted to you; - small and medium-sized enterprise and you’ve received a notified State Aid for the project; - small and medium-sized enterprise and you’re claiming for costs that have been subsidised in some other way, such as a grant. If you do not meet these conditions you may be able to claim using the "Small and Medium-sized Enterprise Tax relief scheme." To claim your company must - be trading - be chargeable to Corporation Tax - have a project that meets the definition of R&D - have costs that qualify for the relief " - HMRC (2024)" "Guidance: R&D expenditure credit for large companies and small and medium-sized Enterprises" - Online Accessed 2025-01-14 13:08 GMT. I think you are conflating the Tax Credit scheme with the Tax Relief Scheme. On the tax credit scheme no-one gets 100%. The maximum tax credit for tax year 2023-2024 is 20%. It was 13% for the tax years 2020-2023. "The R&D tax relief for SMEs allows your company to: - deduct an extra 86% of your qualifying costs from your trading profit for tax purposes, as well as the normal 100% deduction, to make a total of 186% deduction - claim a payable tax credit if the company has claimed relief and made a loss The payable tax credit is worth up to: - 10% of the surrenderable loss - 14.5% of the surrenderable loss if the company meets the intensity condition for expenditure on or after 1 April 2023 (read how to meet the intensity condition section of this guide)." - HMRC (2024) "Research and Development tax relief for small and medium-sized enterprises" Online. Accessed 2025-01-14 13:26 GMT. No URLs as YT is removing links in comments to external sites, but if you Google them, you find two different schemes the first is the legacy tax credit only scheme, and the second tax relief scheme provides additional deductions and a tax credit. Of course, it's best to consult an accountant.

[@andyinsuffolk]

Interesting insight. In a democracy taxes should fall on the participants/members/citizens not organisations they form, a business should have no democratic influence. Business taxes should be abolished, which would solve your problem. The increase in tax revenue and massive efficiency gains would be quite a challenge for the 'taxation is good' lobby.

[@roasthunter]

Large companies are claiming R&D tax rebates without carrying out any actual R&D, they simply employ big accountancy firm who has an agreement to audit on behalf of the treasury, they then take a big chunk of any savings and it all gets waived through without question. They make an attempt to pretend R&D is happening by very broad interpretation of the rules.

[@glynnwright1699]

@@roasthunter HMRC and IRS have instigated wide scale forensic investigations against companies claiming R&D rebates in the last two years. Our company was investigated for claims in 2021 just a couple of months ago. We had to provide market justifications, a full analysis of competitive position and the technical state-of-the-art. We had to demonstrate that our staff had exceptional skills and the R&D was unique and beneficial. We were also required to produce records of every meeting, all attendees, the technical content discussed and the actions placed at those meetings. In addition, we had to show patent claims as result of the work, and justify any absence of IPR, plus the impact on our product range. The timesheets of every employee had to be submitted, along with details of their daily activities and their log books. The document package required by HMRC took us weeks to prepare using data generated from three years ago. It would have been nigh on impossible to collect, save for the fact that ourr operations manager keeps meticulous records and archives them. We spent more on the process of recording our activities and then collating them for the investigation than we received in R&D rebate.

[@glynnwright1699]

@ That is no longer the case, both HMRC and IRS have been vigorously pursuing R&D rebate claims and have launched wide ranging investigations against both multinationals and SMEs. If you happen to be investigated,. and we were, it will cost more to collate a response that the value of the rebate, even if the claim is fully justified.

[@jonnyevason2219]

What constitutes wealthy in terms of taxation? Labour said that they wouldn't tax the working man but everyone's car tax is going up so they've already broke promises.

[@eightiesmusic1984]

Broken not broke.

[@william_marshal]

Soon working class people won't be able to afford a car !!!

[@felixarbable]

Lol I already can't, a new car would be like a years salary 😂​@@william_marshal

[@nothereandthereanywhere]

@@william_marshal Many working people can't afford a car, especially if you live South. Many working people there can barely afford basic living, unless they get help from parents(very low cost of accomodation until they are much older)/grandparents(by passing away).

[@robinspat]

@@william_marshal soon you say?

[@mikestrivens2039]

If Starmer fired Reeves who would take her place? They are all utterly useless.

[@lukebignell7846]

Dianne Abbott has a solid grasp of her numbers, she would be a good choice. Ticks more boxes than Reeves too.

[@RichardS-qh8mi]

@@lukebignell7846😂

[@tricky1992000]

maybe some halifax accountant out of her depth.... no wait!!

[@col.hertford9855]

The obvious choice would be Torsten Bell, as he is a respected economist. Unfortunately he’s also a neoliberal and was one of the brains behind quantitative easing / tightening when he worked for Darling.

[@RichardS-qh8mi]

@ Any replacement will just add fuel to the fire. This government is a daily catastrophe.

[@English-whitebloke]

A serious question. Could these bad decisions or the current lack of good decisions be deliberate?

[@eightiesmusic1984]

Your screen name suggests very much that your comment cannot be taken seriously.

[@M2Mil7er]

@@eightiesmusic1984 that's what's called a genetic fallacy. If not a bit racist and sexist.

[@scallamander4899]

@@eightiesmusic1984Unironically a racist and sexist thing to say. Can’t imagine you being self-aware enough to see that though

[@THG_101]

No. Next.

[@English-whitebloke]

@ Only a bit racist? I have failed again

[@andc154]

There is a complete disconnect between financial markets and the actual economy. Reeves comes from that world, by protecting their financial interests, she protects her own.

[@bloodynorahvan2203]

agreed - it's huge and getting wider

[@mauricerevelle8451]

Gary Stevenson ( see his recent post on U - Tube ) and yourself seem to be the only people with intelligent and informed solutions to the problems. Great work..

[@eightiesmusic1984]

Richard Murphy is excellent but do you not read more widely? Try Will Hutton, for example. There are numerous others.

[@mauricerevelle8451]

@ Ok , yeah I will look into him. Thanks for the reference.

[@simonbirch6277]

I'd be interested to see a conversation between the two

[@CurtOntheRadio]

Hmmm. Gary S imagines covid money went to the wealthy and the UK has 'given away its resources'. That doesn't make sense. Most covid money went to NHS and furlough wages. So how can his 'answer' make sense - to 'take back the resources Britain gave away'? What does he even mean? He's also wrong on Britain being heavily taxed. Most folk are not heavily taxed, not compared to our peer nations. Yes, tax revenues are up versus GDP, but that's because the better off are paying so much more (because they are a lot better off). That's quite different to UK being "highly taxed".

[@Amonynous]

Gary Stevenson embellishes everything to the point of incredulity. His book is littered with untruths (confirmed by his former colleagues) propagated by his huge ego. The banks are hawks, but no, they can't and won't "force your mum to sell the house". He also appears to have no solutions as far as I can tell, nor does Richard.

[@geoffreycodnett6570]

Kicking companies with an increase in NI hardly helps the economy.

[@martinCraig-vf7jg]

Highest tax burden for seventy years under the tories, wages stagnated to a level not seen since napoleonic times

[@tlangdon12]

An extra 1.2% on NI shouldn't break the bank, but the fact it might be doing so just goes to show that the cost of living crisis is really stretching manager's abilities.

[@darrylsugg7230]

Once a banker always a banker! The prospering of banks finances now appears to be more important than the prospering of a country's finances. Financial commentators all sing from the same song sheet because they were all taught the same rules.

[@KingTrouser]

Exactly my thought. If a country and its people aren't all In debt up to the eyeballs, how do the banks make their profits? The monkeys are now running the banana plantation as a cartel...

[@12theotherandrew]

You are asking Starmer & Reeves to commit neoliberal blasphemy! To imagine something outside the Chicago school box 😮😢!

[@CurtOntheRadio]

It's also asking that of the voters. And largely they say, no. Surely? To many folks spending more is the worst possible response to such a deeply challenged budget.

[@Sujki19]

@@CurtOntheRadio but do they, the many folks, know why they think that? Could it be because that is what they are told to think, by the vested interests that want them to think like that?

[@scallamander4899]

@@CurtOntheRadioMost people would understand Keynes if you give them a chance

[@CurtOntheRadio]

@ Hmmm. But the political reality is they don't buy it. And Corbyn had two goes and lost. That's the situation. Besides, the public have every chance to understand Keynes, at least as much as the next person does. It's not a secret. And even if they were familiar, who is to tell they'd prefer it to austerity? I see no hope in such a view. The British public is the one we've got, not one we'd choose. And they don't have it in them to do what is necessary (a sustained period of graft and commitment.) We're heading for the Argentina experience, imo.

[@skyblazeeterno]

​@@CurtOntheRadioLabour got only about a third of the votes...so I'm not sure where you're plucking your "most" from

[@pmac5934]

The main problem with neoliberalism is that all assets tend to the wealthiest

[@roasthunter]

Of course, the wealthiest have all the money, this allows them to buy up the assets and sell them back to us that make them richer and so the cycle continues, hence the increasing difference between the average joe and the super rich. Eventually the system will collapse, we are seeing signs of this already where people are struggling to pay for the basics of food, heat and shelter. Perhaps the people will rise up and take those assets back.

[@IjonasKisselbach]

The state as a capital allocator ? I don't think so.

[@buntyjoy1800]

Tax the rich and get money out of politics. Reeves didnt "put us in this mess",

[@ianbanks3016]

She's not doing anything to get us out of it either.

[@JohnPark-xf2gq]

Reeves is making the chance of a labour failure greater and therefore a tory or even worse reform(torys on steriods)goverment more likely in 2029.

[@Jonben8wtf]

Tens of billions in subsidies to Corporations operating in U.K who year after year have record profits and record share price....shocking. Also carbon capture and storage gift to B.P , that's another tens of billions.of tax payers money gifted...different party same pathway.....red or blue neo-liberalism. Labour are being brought down by elite parasites that control our economy, tories added 1 1/2 trillion to national debt without a murmour from MSM, but now the world ends due to debt might be increased......parasite banks and parasite elites are demanding austerity on the masses, history shows countries move to the right during financial recessions, billionaires need right wing parties they cut more regulations and allow more tax cuts and avoidance for the parasites to fill their tax havens....😂

[@chanceriordan]

The rich are fleeing. Nearly 9,500 millionaires fled the UK in 2024 and they took all of that tax revenue with them. So who are you going to tax when the rich are gone?

[@Ahduciekwndnbbbsvvvghhhyyyyy]

Have you missed the part about wealthy people and entrepreneurs leaving the UK? Taxing the rich and those who build companies to circulate money is a short-term fix in 2025. People will just leave, which is what happens in other countries following similar policy. Relocating is easier than ever in history. You get a short term boost, but then you lose the brainpower to Dubai or USA, and the investment to Switzerland. The only real way to grow the economy is through innovation and entrepreneurship. More taxes wont fix that. There will be wealthy, innovative, successful British born entrepreneurs in the future - they just won’t do it here.

[@CurtOntheRadio]

Well, maybe more taxes will help that. Tough to innovate and be entrepreneurial with little capital. Tough to create conditions for it without resources, tough with poor healthcare, poor infrastructure, etc? But no doubt, it isn't just about tinkering with taxes. It also demands plenty from the public too. Have they got it in them? I don't think so. They are stuck in "cake and eat it" territory.

[@skyblazeeterno]

COVID proved the rich DO NOT create jobs

[@swampselkie]

Let the super-rich leave, if they can find somewhere that will offer them an even better deal and cope with the interim loss of immoveable assets and experienced workers (their most important asset). Rich people don't offer 'brainpower' above that of their peers; their success tends to be the result of circumstance and exploitation rather than because of some kind of 'genius' that they uniquely possess. People don't innovate because they want to amass more money than a person could hope to spend in a lifetime; they innovate through a passionate focus on their field of expertise. Excess wealth is a distraction, not a motivation. In actuality, the super-rich tend to stifle innovation by jealously guarding the niches they've carved out for themselves, preventing others from successfully advancing their own ideas. At the same time, the super-rich hamstring the economy by claiming vastly more than their fair share of profits and either saving the money (bringing it out of circulation) or spending it overseas. There is a direct link between the growth of billionaires and the economic crisis that the rest of us have to suffer. It makes no sense to let the billionaire class continue indefinitely to vampirise our economy just because we can't reclaim all that they've already extracted.

[@HunteronX]

Brainpower is not equal to old money wealth

[@Incognito-jf1dr]

A lot of the rich produce NOTHING. They are rich by financial trading, and when it failed in 2008 the tax payers rescued them

[@jazmo6662]

I remember the days when the very wealthy paid 98% tax over a certain threshold and our economy boomed! They didn't miss it. We need to get back to doing this.

[@andc154]

Exactly!!!!!!!!!!!!!!!!

[@andyinsuffolk]

Yes - Just what we need arbitrary tax discrimination - that's bound to work. I suggest 99% it sounds better.

[@physiocrat7143]

Not enough. Make it 120%. That'll teach them.

[@graemejones9707]

They all fled to better tax regimes and we got 98% of sweet FA

[@FlibTron]

TAX THE RICH!!!

[@eightiesmusic1984]

Worship the rich. Britain 1979-2024. Capitalist realism ( the late Mark Fisher). There is no alternative and therein lies the problem, i.e the big lie.

[@Turbogaggers123]

The rich pay the most tax as it stands, your comment "tax all rich people" makes zero economic sense if you have any brain cells and wish to grow the economy

[@NotMarkKnopfler]

Define rich?

[@ajnaughtin1]

Once the rich move to the UAE that is you. Hello noticed any tax increases lately?

[@chanceriordan]

The rich are leaving. Nearly 9,500 millionaires left the UK in 2024. Who are you going to tax when all of the rich are gone?

[@slartybartfast1]

Keep at it Richard you know when the rich start leaving comments against your stance your gaining ground 😅

[@Andrew-rc3vh]

That it unless all contrarian views are efficiently deleted. It happens on a lot of these kind of forums.

[@JacksonFairweather]

Define Rich.

[@slartybartfast1]

@JacksonFairweather you dumb or what?

[@joerobinson1672]

Too busy working to leave comments i would think.

[@JacksonFairweather]

@@slartybartfast1 define rich

[@jagjitsaundh3571]

We need to get all Government out

[@garybird8646]

Richard you make such sweeping statements about business but forget that most businesses are actually quite small in the UK. The people running them aren't obsessing about profits like a plc.

[@fylbike]

Actually, if you follow his channel, you would see that he often says that

[@fishbutnoegg]

The problem is the ones that are obsessed with profits are the ones that have actual power and sway

[@garybird8646]

@fishbutnoegg I agree

[@JacksonFairweather]

As far as an old commie is concerned. All businesses are owned by the super rich, and the public sector is great. That is how binary they are in their analysis.

[@navydonald]

Interesting, but has he ever discussed balance of payments? This was always the problem when I was a lad.

[@JacksonFairweather]

Not heard anyone in power address this issue in 25 years. If you don’t produce anything yourself and import everything then it’s obvious that you 1. Aren’t self sufficient 2. Are paying more for most things. That is just very basic common sense. How these c£4ts can’t see this is beyond me

[@jamesgeorge8915]

14 years of conservative mismanagement of the econony and we are expected to wait around whilst labour realise their current strategy is flawed. Jeez...

[@eightiesmusic1984]

Labour not labour. Different meanings.

[@pipins3616]

It’s now an excuse to blame the Tories as Labour cannot deliver

[@darrylsugg7230]

​@@pipins3616not "cannot", won't, you obviously didn't listen to what was said.

[@WillyJunior]

What did you Labour voters expect?

[@darrylsugg7230]

@WillyJunior yup they're only doing what they said they were going to do, ie more of the same.

[@twig3288]

Government spending is out of control

[@speedboostr]

There’s a difference between growth and taxation

[@neilg6675]

It isnt her mess is it. It was already a total disaster before this govt took over. The tories should never be forgiven for completely destroying this country

[@andrewdavies8954]

Private businesses are being taxed out of incentive to grow ,there is no reason to hire or succeed,

[@JacksonFairweather]

They told Thieves during the consultation that increasing employers NI would destroy private sector growth. She did not listen, despite not needing the tax income.

[@Allaboardtheskylark]

Richard J Murphy 4 UK Chancellor!

[@lecturesfromleeds614]

We also have no scope to boost exports because Starmer wants to maintain the totally unnecessary trade barriers with our neighbours.

[@CurtOntheRadio]

The voters wanted those barriers. Just saying.

[@Sujki19]

@@CurtOntheRadio only half the voters

[@CurtOntheRadio]

@@Sujki19 No policy gets 100% support. Of course it's split. Nevertheless..... *ETA - and voters put Cameron in on a prospectus to have a referendum.

[@michaelchampion936]

​@CurtOntheRadio nope, no voter voted on leaving the trade union. What Brexit was pushed as being was very vague, and the voters were not told it would leave, even the first PM after brexit did not say that it meant leaving this.

[@WilliamFoggon]

Thanks for being a rare economist talking sense publicly

[@markwinbolt7887]

Wealth inequality route of all financial troubles

[@Mal_Outdoors]

The independent Bank of England is destroying the country. Please do a video on what it is doing in the Bond market at the moment!

[@indricotherium4802]

"The state" is meeting the needs well of the super rich and the corporations making obscene superprofits. As we have seen, during economic stasis, the rich get richer, acquire more assets and share/property values rise. This managed stasis is a more comfortable option for "the state" than swinging into action to disturb equilibrium or change direction. And, under either party, is "the state" being steered by Westminster's stunningly on-the-ball elected representatives or is it the other way round?

[@paultaylor7082]

Flatlining would be a reasonable description. We're lumbered with high energy costs, high property prices and rents, static economic growth, a shortage of skilled workers in many sectors, an ageing workforce, a falling birthrate and incomes barely keeping with inflation since 2008. in short, a perfect shit storm. Reeves is scared any extra spending will spook the money markets (look what happened with Truss's Budget). I agree, interest rates in the UK need to fall to the levels in mainland Europe, around 3%. The two sectors you're not hearing moaning at the moment are housebuilders, selling properties at high prices, and rentiers, around 3 million of them in the UK, doing rather nicely.

[@lukebignell7846]

Richard's thought processes and analysis are very concerning and depressing to listen to. If an academic as educated as he is does not have a clue, then this displays why the high ranking civil servants and politicians do not have a clue. Aside from a lot of our problems as a country recently being due to corruption. With the likes of Gates, Soros, Blackrock, Green energy scam companies, and Big Pharma bribing politicians like no tomorrow and nothing being done about it. There is another problem relating to the economic illiteracy of the elite classes responsible for analysing the economy and defining policies. We are attacked on both fronts, by a third levels of corruption in the public sector + complete cluelessness around everything else not subject to corruption. We are in a hopeless situation when even those people criticising the economic policy do not have the answers. It is kind of like heads you lose and tails you lose.

[@w14all]

Richard set out a way forward. Or were you not listening to the same video as me?

[@lukebignell7846]

@@w14all Richard set out policies which would only make the situation worse. He is completely clueless on 90% of what he talks about here. It is obvious why the country is in such a mess if he is able to hold the position of professor on this topic.

[@THG_101]

@@lukebignell7846 What on earth are you on about? Gates and Soros to blame for the UK's poor economy? Jesus wept. Read a book.

[@HunteronX]

Your opinion is just that. Opinion. Explain how the trends will differ. Don't just jump to 'corruption'. Where do you think corruption comes from? It has the same source - potential access to wealth, and then power, above all else. Imagine fighting the person agreeing with you...

[@w14all]

@@lukebignell7846 We'll just have to agree to disagree. His solutions make sense to me. Your solutions are.....?

[@snowman2970]

So far very disappointed with Labour going after pensioners and low to middle earners, we didn't vote them in for that. They should be going for the wealthy individuals and corporations who continually boast about paying little to no taxes on their incomes and investments. Rules should be changed so that art and other assets they invest in be taxed appropriately so they don't get away with making millions in profit without paying tax as they currently do.

[@Incognito-jf1dr]

Some on here believe its essential for the economy that we have billionaires avoiding the tax the rest of us pay , and who hide their wealth away from the country they extracted it from!!

[@andc154]

Thankfully some of us understand the actual facts!! In terms of true progress, the infuriating people you refer to are without doubt it’s biggest obstacle.

[@JacksonFairweather]

How do you propose that we stop billionaires from bribing our politicians to implement their policies and not tax them? Just how do you propose to stop human beings being corrupt? I would be interested to understand this, as its where Marxism and communism always falls down. As it never considers the inherent human traits.

[@andc154]

By applying ethical regulations to the market, you don’t allow people to accumulate such massive amounts of wealth in the first place. What you are describing is not capitalism, it’s the definition of oligarchy. It’s not a coincidence that they are all massive fans of deregulation!

[@JacksonFairweather]

@@andc154 Regulations need to be designed, implemented and maintained by politicians and civil servants. Who are corrupt and getting paid off by the billionaires. That is the reality of our country and most countries. We have seen the most blatant corruption from Conservative and Labour MPs since 2020, go completely unpunished. They are so corrupt now they do not even care if its exposed in the media, some of them even become a future PM after committing financial fraud and outright theft (Sunak and Truss)

[@JacksonFairweather]

@@andc154 You are dealing with an ideal world and not the real world. If you have policies they need to consider the real world. In the real world today, there is rampant corruption going on in the UK government (civil service and politicians). It is impossible to implement regulations that their paymaster disagree with, as they will never be brought in and even if they were they would not be enforced. Do you know our politicians have anti bribery and corruption rules they should abide by? Even having rules does not mean they will actually ever be enforced.

[@nabagas69]

One thing i cant get my head around. If UK government is the biggest share holder for the Bank of England (meaning they benefit from it, and have a big saying in creating policies), and King has the power to overrun ludicrous policies, why is that not happening?

[@KeithFoster-me3xl]

Because the super rich and banks rule the World. Once the UK is in serious trouble it will need to sell even more State assets into private hands. It’s simply just a turning of the global private power screw. Next stop the hunger games.

[@THG_101]

(a) The Bank of England is independent of the Government. Cameron / Osborne made it so in 2010 (via legislation passed by Parliament). The government has no say "in creating policies" for the Bank. Parliament could change that, not the Government. (b) the King has no real power to overturn govt policies. Can you imagine the uproar if a non-elected monarch interfered with the policies of an elected government?

[@bookingstation]

That's some confused thinking! The Bank of England is supposed to be independent of the government, so as to make fiscally responsible decisions rather than political. In practice, the Bank of England acts as directed by the treasury. As for the King. If the King made a direct political intervention, there would be a constitutional crisis and we wouldn't and we probably wouldn't have a King for much longer.

[@djhscorp]

Nothing has stopped zstarmer going back on his promisses, why cant Reeves.

[@CurtOntheRadio]

such as?

[@squoblat]

We don't have an economy, we have a wealth syphoning framework. Covid (or the government response to Covid) made this abundantly clear. We live in a country where the government have imported millions of people that are a net detriment to the public coffers, are surprised that's made public services unusable and expensive, at the same time as being surprised we have no manufacturing or large scale high tech industry in any competitive fashion when the UK has the highest energy price in the world. What is Starmer on about with this ridiculous AI compute project. There isn't a single private company on Earth that's going to use it, it will cost billions and be out of date by the time it's finished. We live in a country that spends 242 billion a year on QUANGOs. We are paying 242 billion a year for the privilege of having power taken away from parliament. At some point we decided to make the bank of England independent, which further limits government fiscal policy. We are spending billions a year housing people that shouldn't be here, but where is that money going? On the legal side, if we weren't artificially inflating the demand side of the housing market with mass immigration, the market would have corrected itself decades ago. Maybe then families could afford a home and start having more children, instead of following an ever growing lie of the pension ponzi scheme. Now we're in a position where this isn't resolvable without putting an entire generation into negative equity. Easier to convince that generation to suffer for the sake of their children when they were actually able to afford to have some. We need to have the state get out of the way, not swing into action. The invisible hand has become an invisible fist that's inserted itself well and truly into the rear of every citizen of this country that isn't in the top 10% wealth bracket. Government waste should be the prime target before raising any more taxes on anyone. There is no ethical justification for the government having carte blanche to forever say they "need" more money, just so they can piss more into the wind. The government exists for defence, large infrastructure projects, the rule of law and to leave its citizens alone to get on with their lives. It doesn't seem able to do any of those things.

[@CurtOntheRadio]

About 54% of British people are net takers re benefit/taxation. It isn't immigration.

[@bloodynorahvan2203]

'a wealth syphoning framework' - that sir is an excellent description

[@markanderson1974]

Nicely put.

[@michaelmerrett3675]

It takes some 20 odd years to grow a child into a fully effective economic unit. Why wait that long when you can bring an immigrant online almost immediately? You are spot on with the 'a wealth syphoning framework' comment though. 😉

[@davidmann8371]

@@squoblat brilliant- thank you.

[@ianbanks3016]

The current Labour party are so captured by right wing thinking there's not the will, vision or courage to do what is necessart. It's four more years of neoliberalism and austerity.

[@CurtOntheRadio]

Blame the voters? The electorate seemed to take a pretty clear position on Corbyn's leftism, and it wasn't pretty. Remember? That's ultimately why Labour are "boxed-in".

[@ianbanks3016]

@@CurtOntheRadio Labour are now in a mess entirely of their own making. The answer to the current mess is not yet more neoliberalism and yet more austerity.

[@CurtOntheRadio]

@ianbanks2016 I am not saying austerity is the answer. I am saying you would need persuade the British public (voters) for a different policy. And I am saying that didn't happen. And likely wouldn't happen. Blame the voter?

[@ianbanks3016]

@@CurtOntheRadio No, you don't need to blame the voter, you just need a political party with the will, vision and courage to offer something other than yet more neoliberalism.

[@CurtOntheRadio]

@@ianbanks3016 SO, like Jeremy Corbyn, maybe? Or what? Come on, don't pretend it's just a case of making the offer. You have to be realistic about the British public. You think they are desperate for a huge growth in the state, more taxes/borrowing, more spending? What? Anyone thinking that is delusional imo. What's the evidence the British public would vote for it?

[@mooselord2128]

I think a few things are over-optimistic here. The suggestion that a Keynesian boost could kickstart the economy, for one. The idea of a Keynesian injection is designed to cure recessions/depressions, not just a squeeze on demand. I think it unlikely any injection from the government would be successful in kickstarting things without undermining its own growth with inflation. adjacent to that is the suggestion that the BoE must lower interest rates: would this not also increase inflation enough to also undermine any growth gained? Some of these ideas are good, but I think their significance to the larger picture is somewhat overestimated. Alongside the demand-side slump, the UK is also suffering from a supply-side stagnation with low productivity. Fixing that half of the puzzle would also take a colossal investment, which the current debt numbers and interest rates don't really encourage. This is why the rock and a hard place narrative from commentators seems to be broadly accurate, which I think you have glazed over.

[@eightiesmusic1984]

What are you answers? Cite the evidence that Keynesian stimulus has not worked in other countries.

[@CurtOntheRadio]

@@eightiesmusic1984 Where is the spare capacity in the UK for expansion? Where are the workers?

[@charactername263]

@@eightiesmusic1984 Keynesian Economics would require the government to spend money it doesn't have. It cannot borrow at an over 100% Debt to GDP ratio with high interest rates. The BoE cannot lower interest rates because inflation is sticky.

[@eightiesmusic1984]

@@charactername263 UK debt to GDP ratio is in the middle of European countries debt to GDP ratio. Stop the right wing myth making.

[@charactername263]

@@eightiesmusic1984 There's only 6 countries in the EU with higher inflation. Greece, Italy, France, Spain, Belgium, Portugal. They all have inflation as much as 1% lower than ours, hence their lower borrowing costs. You completely ignored the part of my comment where I mentioned borrowing costs. It's the combination of high debt to GDP and high rates that makes borrowing more a bad idea. Rates cannot come down until inflation comes down further.

[@Spunksock]

Judging by the lack of HGV jobs we are now in a full blown recession.

[@JacksonFairweather]

All the jobs have been outsourced abroad, and the taxes mean it’s too expensive to employ British workers in transportation 😂 They are literally skewering the economy yet the bozo making this video thinks we need more public sector intervention. Seriously 😂

[@kls1836]

​@JacksonFairweatherwhere's your source they outsource HGV outside? If anything they would source it inside the UK. Unless you are talking about long distance transport i.e. from Spain for produce but that makes no sense to send a UK driver down there unless we are exporting there as well.

[@JacksonFairweather]

@@kls1836 Lots of long distance HGV roles now are done by EU based companies using EU citizens. It’s too expensive to employ British workers due to the f*****g tax

[@khang2122]

we're in the 'we're fucked phase'

[@davidpicken6879]

Sadly I doubt there will be change because the change required would be detrimental to those funding the politicians. The big question is what happens without the required change?

[@johnmadrid9865]

We also have an ever increasing sector of people in U.K. who have nothing to offer which the government effectively support with our money. We’re no longer the leaders, we have become the followers and even that’s being done poorly

[@ward_303]

The Chinese philosophy is to always put people first. Until we can install a political system that can work for people, we cannot expect different outcomes. Our current neoliberal economy only serves capital. It would be very simple to put legislation in place to deal with this, but our political parties are not motivated to do so. We all need to accept what this means, decreasing standard of living and services for the foreseeable future.

[@bagingmachine]

I agree with taxing the super rich and imposing windfall taxes on energy companies and supermarkets unless they substantially lower prices. You are suggesting robbing ordinary people with a few grand saved which is wrong! Socialism doesn't work! The one thing that will boost growth is big tax cuts for low and middle earners by raising the tax thresholds.No one should be paying tax on under £25k.

[@Mike-lb1hx]

After watching this video I passed Waitrose and McDonalds and they had something in common, their actions would grow the economy despite what is said in the video. Both are using self service technology to improve business productivity and given the greater numbers using self serve improving customer satisfaction. Its not rocket science but the improved productivity enables those displaced to do something else that adds to GDP

[@CurtOntheRadio]

The Tories would have been raising the pension age, abolishing sickness/disability benefits, wouldn't have raised minimum wage, would still be on about Rwanda, would be embracing Trump, would be cutting services, paying landowners just to own land, etc etc. The British public have terrible memories.

[@bloodynorahvan2203]

indeed

[@1dogMrTheno]

Like Goldfish they swim around and around opening and closing their mouth waiting for food to be dropped into their bowl a bit like food-banks only the economy and the Right Wing caused it🤪🤪🤪

[@JohnPark-xf2gq]

Don't forget selling what is left off to the usa pharmacy companies so that we would have to buy over priced pharmacy exclusively from the usa.

[@skyblazeeterno]

Alternate futures are for sci-fi not reality

[@davidmann8371]

@@CurtOntheRadio so many ‘would haves’… why not stick to the shambles we are witnessing now? Oh yes…the 20 billion black hole…

[@bringiton8989]

Serious question - why don't we tax mortgage interest on primary residences? It would drive down interest rates overall, so homeowners would be no worse off, the treasury would get money, the risk free rate would fall thereby incentivising productive investment and the only people who would lose are the banks? Is that the reason, or am I missing an actual downside?

[@reheyesd8666]

Ensure companies are British owned (stops money leaving the country) Tax their immovable assets Reform the government to trim fat and increase efficiency ( a good 200b savings) Improve the national grid Deregulate Reduce energy prices through construction of fossil fuels power pants (stop economic self sabotage with wind farm)

[@john-s3w6c]

Thank you Professor Murphy, you are opening my eyes. The information you provide is understandable, easy to consume and assimilate. An excellent teacher.

[@physiocrat7143]

but mostly wrong.

[@dharmawarrior111]

We could cut taxes for everybody, deregulate, scrap net zero, slash the size of the government & stop spaffing billions on battery farming infinity unproductive third worlders. This would get the economy firing. Everyone would benefit.

[@JacksonFairweather]

Yes we can all see that But for some reason the academics like this guy, and the government (civil servants, politicians) cannot see it. They think if they just tax the middle class just a bit more they might find the magic unicorn. They are killing the economy stone dead. This has been long in the making too. This goes back to the early 1990s and isn’t just Reeves fault. We have a serious case of groupthink going on. 😂

[@c.j.griffin]

Cut taxes? Cut government spending? We've had that strategy for c.15 years and it's only made things worse.

[@Ghengiskhansmum]

Deregulation often leads to inferior products, services, pollution, civil strife etc.

[@tuckwatsellers]

Cut taxes, reduce size of govt blah blah blah. We have had 45 years of this bollocks. Working well isn't it.

[@reheyesd8666]

@@c.j.griffin Public spending has increased. Nothing was cut.

[@dasewen]

So why are the bank’s and treasury’s policies so miss-aligned????

[@larryhenry2070]

Thank you Lord Jesus for the gift of life and blessings to me and my family $14,120.47 weekly profit Our lord Jesus have lifted up my Life!!!🙏❤️❤️

[@nancyflores1787]

I'm 37 and have been looking for ways to be successful, please how??

[@larryhenry2070]

Sure, the investment-advisor that guides me is..

[@larryhenry2070]

Elizabeth stark

[@parkereric6397]

Same, I met Elizabeth stark last year for the first time at a conference in Wilshire, after then my Life has changed for good.God bless Elizabeth stark

[@laurawilliams713]

Her services is the best, I got a brand new Lambo last week and paid off my mortgage loan thanks to her wonderful services!

[@ncooper8438]

Hah! We had near zero percent rates for many years under the last government and the economy was still flat lining. So why recommend reducing interest rates?

[@AngelaBee_13]

Why is the bank of England doing this?

[@terencefield3204]

Because it’s as incompetent as all the other entities of the state there and has been since 1945

[@Rockall57]

Reform, Reform, Reform.........

[@terencefield3204]

@Rockall57 don’t be a bloody idiot just emigrate

[@CurtOntheRadio]

You notice people don't like inflation? Their rationale for QT is to provide headroom for QE if it became necessary again. Seems reasonable.

[@terencefield3204]

@@CurtOntheRadio fool

[@simonnah1527]

The general sentiments are right here, but throwing more money at public services isn’t the solution. They need real structural reforms. The NHS is the best example. We pay hundreds of millions each year in consulting fees to the Big 4 and others that’ve instituted a managerial complex in the NHS. Talk to anyone that works in the NHS, and they’ll tell you that there are middle managers that’ve never worked on a ward and that you never see making decisions that don’t benefit the staff or patients. Most serve no net benefit and work in bullshit jobs that cost a huge amount each year. Private contractors and procurement partners work to maximise their income by fleecing the public purse. In the case of private contractors, money gets paid to large companies with shareholders that receive dividends; those shareholders are likely already wealthy or live outside of the UK. Increasing the use of local contractors for certain jobs would mean they money stays in the local area and multiplies. The same can be said for almost any other area of the public sector. DOGE in its current oligarch-run form isn’t ideal at all, but it would be a serious step in the right direction if the UK government wants to actually stop pissing money down the drain and provide effective, targeted public spending.

[@Perry-James-uk]

Inequality, close the gap and uk could sail once more onto calmer waters

[@stephendavis5530]

"It is imperative that these changes happen!" ....and that is a cast iron guarantee that they will NEVER happen! Any changes that effectively puts the rich at an inconvenience is anathema to them.

[@johnhunsley8860]

Reeves been in the job 6 months, Tories been running it into the ground for 15 years, but let's blame Reeves 😂

[@JacksonFairweather]

Erm, this economic policy has been followed since the early 1990s that covers 13 years of labour from 1997-2010. We haven’t had a real shift since the early 1990s despite us seeing our economy fall off a cliff during this time

[@william_marshal]

@JacksonFairweather Blair and Brown were Thatcher's sons, she started this in 1979 and those two kept her policies. We need to tax the rich more but Labour's too scared to do it ... maybe it's time to bring Corbyn back !!!

[@mojonojo3]

The UK government has been on this path for 40 years, and on this exact path since 2007, Reves has no material difference in policy from when Osbourne was chancellor.

[@realscottsummers]

He's not blaming Reeves for getting us here but pointing out she isn't the one to get us out of it

[@darrylsugg7230]

Reeves has had "six months" and changed nothing, but let's not blame her!

[@Tulkash01]

The way the economy is run (neoliberalism) is a reflection of who holds power in society. If the rich run the system (and they do in an open way since 1989) the system is not going to tax them more. Given these simple truths, the options of any government are pretty limited. It’s important to note that in an historical context this is nothing new. The increase in social volatility that inevitably follows such situations produces a request for change of the system and the system usually reacts by tightening its grip on power, sometimes using proxies (see Italy in the 1920s and Germany in the 1930s) some other times by directing social unrest outside through war (which helps thinning the population and, if successful, acquiring new resources from defeated opponents). It’s what a guy named Shumpeter called “reshuffling of the cards”, with the assumption that the House always wins in the end (and he was pretty happy about it).

[@peteduch2151]

About 620000 brits enter the jobmarket each year plus 400000 immegrants that means you need at least 1mil new jobs every year that will not happen and cutting benefit that create more poverty

[@CurtOntheRadio]

Strictly speaking, unemployment is low.

[@peteduch2151]

@CurtOntheRadio 3mil is low oke

[@CurtOntheRadio]

@@peteduch2151 1.5 million. About 4%. Historically, the rate of 4% is very low unemployment. It hasn't been that low since the early 1970s. Get some perspective?

[@skyblazeeterno]

​@@CurtOntheRadiothat's if you believe govts massaged figures which exclude people doing a few hours work a month

[@skyblazeeterno]

​@@peteduch2151I've seen some estimates that REAL unemployment is at 6 million...totally believable

[@nickpoole9859]

I find your analysis invaluable. I represent one of the UK industries with the most significant growth potential, and it is frustrating to see other countries move more decisively to support their business community. It is not only a domestic issue - we're falling behind in terms of attractiveness for inward investment globally. We have so much talent and potential in the UK, but it is being frustrated by the lack of money supply & chilled risk appetites.

[@hughjohns9110]

This is just idiotic. The private sector exists to create wealth and they can only do that where there is a market for their products and services and when economic conditions are right. The private sector aren’t going to invest when they don’t see any chance of a return on that investment. It is not because they are clueless. This guy is clueless (or more likely has an agenda to push).

[@lukebignell7846]

Yes I generally find that taxing the living s**t out of something is going to make it contract and create less of it. Basic economics 101 principles are that you tax what you want less of and you subsidise what you want more of. In this regard, the ridiculous levels of taxation aimed at the private sector are the reason why there is very little growth or investment. But this so called economist, thinks more taxes will do the trick.

[@NetZeroNo]

And your qualifications are?

[@hughjohns9110]

@@NetZeroNo life experience and common sense. And yours?

[@NetZeroNo]

@hughjohns9110 it is not about me. You were criticising Richard Murphy as being clueless who's experience and qualifications are a lot more than just the "University of life" and "common sense".

[@hughjohns9110]

@@NetZeroNo that's your opinion. I have no idea who he is or what is qualifications are, not that academic qualifications automatically mean someone is competent in any particular field. If you disagree with what I said feel free to put your viewpoint.

[@michellejulia384]

Another clear explanation to improve the UK economy. The only real way to get out of this mess.

[@philosoaper]

you certainly "took back control" lol

[@andc154]

Rocking the boat is simply not in Reeves own personal interests. She stands to make millions of pounds after she leaves office. Working for the very people she is protecting. Like the rest of the cabinet, all she has to do is play the game for four years.

[@skyblazeeterno]

Probably less than 4 years

[@andc154]

Yep! 🤷‍♂️

[@williamcampbell9335]

If you lower interest rates that will increase asset prices

[@Reece-h5l]

The concept of relying on growth is ludicrous.We are in a situation where continually expecting the Earth to give more has led to the trashed environment.The first world economies already consume more than is possible .A new model is required and unfettered greed by those closest to the trough is now impossible . Unfortunately those who rule are those very people so for them to experience a revelation is beyond unlikely.

[@user-xu5vl5th9n]

That is just an alibi for the anti-growth alliance. Instead of relying on growth we can rely on austerity.

[@JacksonFairweather]

This isn’t a Rachel Reeves problem, these policies come from the civil service and public sector that this economist seems to love so much. Our economic policy hasn’t changed since Blair in the late 1990s.

[@davidmann8371]

This economist? Which one? I don’t t see one here

[@JacksonFairweather]

@@davidmann8371Richard J Murphy describes himself as an economist. Don’t laugh.

[@barryroberts7159]

So in effect the banking system is absolutely causing the mess again!!

[@lukebignell7846]

yes lets blame it all on banking and the private sector. Its definitely not the academics, politicians and governments fault. They are merely bystanders here.

[@barryroberts7159]

No that's what he seems to Imply!! So let's see who caused the financial crash of 2008?? Excuses on a postage stamp I guess!!

[@lukebignell7846]

@ Who regulates the banks? Is it the banks themselves or is it some other body called the FCA/PRA who are part of the government. How old are you by the way?

[@barryroberts7159]

The bank of England is totally independent from the Governent of the day they alone have the power to adjust the base rate

[@JohnPark-xf2gq]

Barry Roberts, who caused the 2008 crash.soonackered, and his mates.everybody else had to live with the consequences while the bankers escaped prison and became filthy rich.

[@photoman3579]

Bring the Bank of England back into government control

[@terencefield3204]

oh bloody huh? You’re too young to remember Reggie Maudling!

[@bigdaz7272]

Tis in the Pooper, the same place it has been for most places around these Isles outside of The City since 2008

[@luked4587]

...or we can just scrap net zero The impact of this over the next decade would be significant for the UK economy

[@jasonkirk7802]

The damage from climate change will far outweigh any savings you think that would make.

[@dharmawarrior111]

Nonsense. If climate change is real then having cheap, reliable energy to fuel technological solutions is the way to go. Expensive, unreliable energy is stupid.

[@fishbutnoegg]

Sure but there are a lot of practical benefits for net zero as well, we are leaders in renewable energy and are selling our expertise abroad, we've also gained a lot of energy independence. Promoting building electric cars is incredible as that's where the market is headed in every country, and it means we can compete with China. We have a cleaner ecosystem which has health benefits and makes people happier, both of which improve productivity, not to mention the boosts to tourism. Most importantly, oil reserves WILL run out, is it not just better to detach our dependency now so that we can sell our expertise to everyone else and don't have to deal with any of the negative effects when it does?

[@nottopcat5956]

So the options are tax the rich more and lower interest rates or let the world burn? I like the first one better

[@12theotherandrew]

Even though net zero is a con trick it is absolutely essential we reach even that small step if we are to have any hope of human survival into the next century.

[@brasherish]

Exactly my points. The UK needs to begin to invest in the UK and start to grow the economy.

[@suki4410]

How about cancelling the king thing?

[@MarKeMu125]

The king, like him or not, (directly or indirectly due to charity donations) employs thousands of people and cancelling him would cause those people to be unemployment and thus shrink the economy? The exact thing we're trying to avoid...

[@p37er79]

Thank you for putting out real-time perspectives that challenge the mainstream news narratives.

[@redbruce1999]

I was disappointed by the lack of wealth tax in the budget, but I'm assumed she didn't go down this route due to the time it would have taken to devise a scheme. I'm assuming it's not that easy to tax wealth (rather than income) and have it work effectively? So increasing the employer's NI was the quick and easy route to balance the books. And as to all those that blame Reeves where were we are now, if a marginal change to NI and NMW was all it took for the skies to fall in, then the economy they inherited from the previous Government much have been very fragile indeed.

[@lukebignell7846]

If you tax wealth you get capital flight and actually lose tax revenue. Just ask Francois Hollande.

[@CurtOntheRadio]

Labour did tax wealth in the budget. Most obviously in IHT on farms. How did that go down with the public?

[@redbruce1999]

@ There must be a “sweet point” though?

[@KeithFoster-me3xl]

Taxing the wealthy is easier than they have you think via their right wing Billionaire owned press. Look up Gary Stevenson’s videos on this. They hold their wealth in assets, and you can’t get them in a plane in your hand luggage. If their value reduces the government can buy back many lost State assets. See PFI and how we’re being milked for details. Lord Darzi’s review of the NHS didn’t include the cost of PFI for our hospitals. The joint Government and Super rich model isn’t one any major party will allow us not to elect.

[@KeithFoster-me3xl]

@@CurtOntheRadio They pretended to tax wealth. How is Lord Ali’s tax or any of those super rich donors who came in late on Labour’s side doing?

[@Incognito-jf1dr]

So where's all the extra money the Brexteers promised us now we have left the EU ?

[@physiocrat7143]

Covid. Ukraine.

[@photoman3579]

Drill, baby drill...! Frack, baby frack, make energy cheep, stop net zero rubbish !

[@markwelch3564]

There's no cheap fossil fuels left in the UK - all the easy fields are dry, and what's left is awkward and expensive

[@robinjones5169]

Silly. A switch to a cheaper cleaner economy will put more money in people's pockets. The economy is not in a better place because of fossil fuels. When gas prices tripled causing your electricity bills to double, did that help your personal economy? Now apply that to an entire country.

[@fishbutnoegg]

Such a US take, our oil reserves are running out, such a harsh change for maybe a couple years profit, stupid idea

[@hotsaucebeliever]

At a time where we need reform we've had governments that either tinker with the same tools to avoid too much change scaring off some of the voters or ones that keep doing the same stuff that got us into this mess arguing that we need to do it harder and it'll stick

[@andyturner1727]

If only we had more people like you in our so called government . Thank you for giving people hope .

[@twistedsteeltv6130]

As per 07:33, why is the BOE purposefully stopping growth?

[@steveiws]

This isn't RR mess. Labour inherited this mess.

[@jasonkirk7802]

But they are not making it better. They are using the same bullshit arguments about austerity,

[@gailbirkett7831]

Yes it is her mess now, she inherited growth slow but it was growth

[@william_marshal]

@@jasonkirk7802 Austerity is what George Osborne did in 2010, like 5 year freeze to public servant wages, no rise in the minimum wage, 2.5% rise in VAT and so on ... Reeves has not done that !!!

[@pipins3616]

Tories out for 6 Months and to be blamed for 5 years, no sorry Labour cannot use that anymore

[@jasonkirk7802]

@@william_marshal yet she shows no interest in properly funding public services the way they need to funded to do their job properly.

[@thelifeofjools8384]

Bank of England don't set interest rates, the market does. Interest rates have also risen in the USA regardless of Fed cuts. Can't ask lenders to accept additional risk, without offering the appropriately increased incentive of higher returns (interest rates)

[@helenheenan3447]

Wrong. The Bank of England sets interest rates. How can you not know that?

[@thelifeofjools8384]

@helenheenan3447 from the BofE website "We set Bank Rate to influence other interest rates." Notice the word influence not control. So a big jump in inflation for example, would cause interest rates to rise, regardless of any "influences" from the Bank of England.

[@skyblazeeterno]

​@@thelifeofjools8384semantics. Nice try

[@lukeneilson9799]

For starters, Reeves should be focusing on closing all the tax loopholes like the EU have done. Also, we should start negotiations to rejoin the EU (even if takes years to complete). This alone would help with investment and business confidence. And it would drive down immigration having freedom of movement. If I was Labour and Reform and the press start whining about freedom of movement again, I would ask them back, "Don't your supporters want less immigration, especially from non-EU countries" and that would also expose the hypocrisy of Reform UK on immigration as well, so it would be a political win, as well as better for our economy.

[@donkeh7788]

We aren’t rejoining the EU loser

[@matthardern1594]

Totally agree

[@CurtOntheRadio]

I'm all for rejoining EU but it's political blindness to imagine it can easily be done, or achieved at all without paying a steep political price.

[@petermitchell6348]

Net Zero, the elephant in the room!!!

[@funnythat9956]

Net zero is an easy buzzword target. But there are several issues which are mixed up here. In the first place the UK needs to aim for energy independence and security. We need more wind farms, not less. We need more pylons and battery storage, not less. However we should remove some of the silly targets like stopping the sale of combustion engines and demanding from manufacturers that a certain percentage of sold cars are electric. Fossil fuels will become more expensive over time and electric vehicles will become cheaper. The market will sort this. All new houses should be zero energy houses. The technology is there. It will only marginally increase the cost for the buyer. A slogan like “scrap net zero“ is not helpful.

[@KeithFoster-me3xl]

@@funnythat9956 Unless you live in Los Angeles.

[@charactername263]

@@funnythat9956 There is less than zero sense investing in energy when the marginal cost pricing model used in the UK will pass on none of the savings to the taxpayer.

[@charrogate]

Why does such logic, as originally advocated by Keynes, fall on deaf 🙉ears at Nos. 11 & 10? 🤔

[@CurtOntheRadio]

How about on the voter's ears? Labour weren't elected to undertake a Keynesian splurge, nor would they have been elected if they had promised to. At least that's the argument (sound, imo).