Why is Everything Getting Expensive? Cost of Living Crisis Explained - TLDR News
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- Опубліковано 28 чер 2024
- Your wallet might have already started to notice the impending cost of living crisis, with the price of many essential goods already beginning to rise. So in this video, we explain how bad the crisis is expected to get, why tax hikes are expected to only increase the burden and how this could impact Johnson's time in Number 10.
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1 - www.statista.com/chart/24330/...
2 - www.bbc.co.uk/news/business-5...
3 - assets.publishing.service.gov...
4 - www.ft.com/content/cc960e4d-a...
5 - www.ons.gov.uk/economy/inflat...
6 - / 1488446658283294721
7 - www.theguardian.com/society/2...
8 - www.bankofengland.co.uk/knowl...
9 - www.ft.com/content/7d5aff7f-9...
10 - www.theguardian.com/commentis...
00:00 Introduction
00:48 Defining the Crisis
04:35 How Bad Will Things Get?
06:33 How Long Will It Last?
07:55 Political Implications
09:38 Conclusion
I'd like to point out that the discount is not a discount. a discount means you pay less. if you are paying the same amount but later, then that is a loan. one that people are being forced to take
Agreed, at best it is a short term deferred cost with no view to address the price rise itself. That assumes everyone gets the benefit, which not everyone does, so some people will pay the differed cost without the initial reduction.
At 0% interest.
The negative is?
You'd rather pay 200 now rather 40 X 5 later?
@@danielwebb8402 All I was saying it's a loan and not a discount. Calling it a discount is a lie. At the very least I'd like news outlets to report it for what it is, even if the government don't.
But since you asked, the negative is that it doesn't actually address the cost increases long term. It just means an even higher burden next year. If people can't afford it now, why would it be anymore affordable to add the £40 to any more price increases that come next year? Unless there's a guaranteed increase in wages and benefits that is much bigger than all the price increases we are seeing on almost everything ATM.
Personally, I'd rather they do as the French did and tax the massive profits of the energy companies to cover some of the cost (currently our bills will rise by 54% compared to their 4% iirc), but I understand that's not something the current government are not willing to do
@@ANDYN1995
If the problem is.
Compared to you paying 100 a month before.
It has spiked to 160. Bit we expect it to come back down to 100 again.
Then paying 120, 120, 120, 100, 100, 100 rather than 160, 100, 100, 100, 100
Does address the spike quite well. I think.
If your point is it doesn't make the extra 60 disappear. Then OK. I agree. No magic is involved.
@@danielwebb8402 for me personally, as a home owner, deferring part of my bill over a few months doesn't matter. My concern is about other people, not myself.
The issue is that the levy of 4x£50 will happen to all bills irrespective of whether someone received the initial benefit: for example someone who moves out into their own place, or out of a bills included rental property.
im pretty thankful that last week my company basically gave all its lowest paid workers a pay rise from 21k starting to 25k, with a bonus structure that'll add on another £200 -500 per month depending on yeild of the farm and a + 3.5% pay rise every year you're there, all coming directly from the profits and pockets of our owner. rare to find a company like that anymore.
If your yeild is affected by inflation and inflation is around 6% your boss can defo afford it and they also understand how the economy works. You have a rarity there
VERY RARE indeed !
Congratulations on landing such a good position.
What a decent company
O grow up.
Funny how furniture, recreational activities, and eating out is high-income people's thing now.
Everything is fucked because of this pandemic, can't even buy a reasonably priced graphics card.
@@paul.435 Hahahahhahahahaaaaaa! Said the privileged. Nice!
@@paul.435 The 'pandemic' was used to start a collapse and now we have engineered price hikes, all steering us towards a collapse of the old order so they can implement their 'Build Back Better' bollox!
Thats because the middle-class has been taxed to death to fund the pointless welfare state.
The poor cant be taxed because theres nothing to take.
The Rich cant be taxed because they can afford to protect their money.
That only leaves the decreasing few in between. This is the cause of the wealth disparity.
Tory voters: *votes tory*
Tory party: *raises costs of living*
Tory voters: "Bloody Labour"
I could not like a comment faster! 🖒
@@gHGhej me too.
Agree. And yet, is Labour currently the solution? They would probably do less badly that the Tories - not exactly a challenge - but would they really reverse the tendency to weakening the welfare state? It strikes me that, after almost 3 decades of crushing neoliberal policies and almost 15 years of Tory austerity there still isn't a third option in Britain.
@@togapast Politicians are all owned by the elite families, there is no democracy.
I mean, to be fair, the tories have accepted this eco green new deal "make everything more expensive for the sake of the climate" wank, just as much as labour, so both are as bad as each other...
That wage stagnation statistic was absolutely astonishing, even taking into account the '08 crash and the pandemic.
Feels good that most millenials have lived through 2 once in a lifetime economic events. I'd bet we'll see another before this decades out.
We have to think of our billionaires!
But you don't get this covered by the mainstream massmedia, that still wants one to believe, that we can all grow wealthier if only we work hard enough. Damn, its scary that after years of mocking people like Russell Brand, turns out they were, to an extent, right... -.-
You've obviously not looked at job market.
Minimum wage is standard in a lot of jobs.
Have you been introduced to the tories?
Remember when us Brits used to look at the sleaze, corruption and economic malaise of Italian politics and say “at least that’s not us!”?
Good,a healthy dose of humility is what the uk needs.
@@ThisTheAviator And a heavy slap on the face, and a big mirror to blame the reflection instead of italians or germans or jews, and finally maybe start quantifying the purpose of its existence.
Now we're doing the same over to the US - or we were until Boris said what he did and the Starmer incident happened this week...
As an American, this is softcore corruption.
No
because I am an american
The fact that we are being encouraged to not request salary raises is even more ridiculous. I can't believe how low wages can be here in the UK... it's honestly shocking.
We are USA 🇺🇸✌️🎉 Vassal.
I work 4 days a week qnd qm not even taxed man
Just wait till you see how the UK pension compares to the rest of Europe 😉
Why can I tell you've never left the first world?
@@wanderingthewastes6159 she actually has a point. Also…European countries are slowly slipping. No longer emblems of the first world in the same way as they used to be. I left the UK a long time ago. I’m in a “third world country”. My wage is stupidly high and my standard of living is way better than if I was in the UK. Think Singapore, Hong Kong, Dubai, etc.
Their human rights records are not good. That being said people keep coming back because of the standard of living it offers people.
The infrastructure (everything from hard to soft infrastructure, from roads to tech enabled airports to how good delivery apps are compared the the UK) is really astonishing, and puts some first world countries low on the quality list.
Comparing first world to first world, the UK is still way behind the US. Compare Big 4 salaries in the US vs UK. Same companies, US make over 10 K more a year. Cost of living isn’t that immensely different so it’s weird. There was an article on it so you can look it up.
The title should be "Why is Everything Getting More Expensive?' It was too expensive in the first place!
Brexit probably
@@Happy_Shopper Government. Brexit was pushed through to cover up government failures for a short while.
This is the way this type of economy works. If everything was affordable then the demand would outstrip supply and there wouldn't be enough to go round. Crap economic system in my view.
@@jamesgtmoore could you explain this comment some more? What economic system are you talking about?
@@GeorgeSanger capitalism
Could you look at the price increases across different affluence groups. I read that basics (bread, baked beans milk etc) have gone up MORE than luxuries (wine etc). So the effect would hit poorest 10% much harder.
Save the video there for you mate there's a simple reason why, luxury goods have higher profit margins so they can take the hit while basic have tiny profit margins or in the case of bread and milk often run at a loss in order to get you in the store
"All that said, according to the ONS’s Mike Hardie, “when we have broken these [CPIH] data down in different ways, such as according to how much income you earn or whether you own or rent your property, the differences” between income groups have been “historically small”. An exception was during the financial crisis of 2008 when inflation was higher for low-income households."
The brilliant More or Less on BBC R4 explored this a week or two ago.
That is correct... Inflation is a monetary phenomenon that pretty much causes all prices expressed in a currency to rise... That being said, not all prices rise up equally nor at the same time. Double example:
1-Goods and services attached to imports/exports and the financial sector will raise first (No surprise, they are the most dependent on currency exchange) such as food, imported electronics, and exchange rate. While others will raise later on, such as wholesale and at the bottom of the barrel... salaries, that is why when inflation is high... It punches harder on the lowest income bracket.
2-Inflation is based, if I recall correctly, on a consumer price index... In a shellnut, an average price delta of a buttload of products and services... The problem with average is that they are really sensitive to extremes so... Milk, potatoes and meat could raise up 30% in one year while everything else stays the same or even goes under so you end up with a, example, 2% annual inflation rate... But with a really bad situation for the common folk
Honestly, buying groceries and eating out have essentially become the same price
It's gonna be literally impossible to get a mortgage in a few years. The next generation is fucked.
I live in thailand and the cost of Living is going up fast here also. My friend in Australia is also seeing this. It’s happening everywhere in the world.
In France too! It's a dreadful situation...
Same in Serbia. Since the start of this year we've had an inflafion of 7%
Same in the US
Same thing here in Finland.
@@afterought6275 would love to visit Serbia some day, one cool group of people
If you are reading this make today an amazing day and keep moving towards your goals. success comes to those who never give up.
Yeah! Always remember to set a goal in life. That’s the rule
Remember its never too early or too late to become smart with your money. Save invest, work do whatever you need to do to grow your wealth.
My mother thinks she got a great deal because she gets 0.05% in a money market account through Navy Federal, and get Fiddle Faddle buy 1 get 1 free at Aldis this work so she thinks she’s smart with her money. while I made 25% last year on 700k portfolio investing, I don’t have the heart to tell her she is clueless.
@@payemalarydangan4773 Wow that’s cool, I have been looking to start investing recently watching self-tutorialc videos on UA-cam can you share some tips to start investing for newbies.
@@Antoniopedro7624 Buy stock and hold
The cost of living has been spiking for awhile now. Average weekly shopping has gone up. Stuff I'd buy from the shops have either increased in price or the quantity has been reduced while the prices have been maintained.
The increase in cost of living will constantly go up and our government will do nothing about it.
The UK is in for some really, how shall we say, interesting times in the coming years. Wage stagnation is an absolute disaster with the housing market spiraling out of control, and landlords squeezing the rental market for all it's worth. We've heard that term "the new normal" peddled quite a lot in relation to the pandemic, well I strongly suspect we may need to start using it in relation to the cost of living. No sign of wages rising. Oil companies are making record breaking profits whist energy prices soar, and our government are at a point that we can no longer really trust it to carry out what should be just the simple day-to-day functions with any level of meaningful success. I watch the PMQ's every Wednesday, and watching Johnson brag of the rate of our economic growth, whilst he knows full well, the coming winter, there are going to be a lot families having to choose between being hungry or cold. Our current state is an absolute and unequivocal failure of our current government to take meaningful action when needed.
I think the real problem here comes back to the previous Conservative Government from 2010 who believed austerity was the answer and everybody should suffer. Though there should have been some forms of control we really needed to trade out of the situation and in the process wages and GDP would have increased. So both the workers and the businesses would have benefited. Any business that cannot grow will stagnate and eventually go out of business, zombies. Most workers cannot improve their productivity. That's down to the businesses who implement new equipment and systems and that costs money. Then there are certain businesses, etc that will always need a set number of people, often at minimum or living wage so it is difficult to improve productivity. Think of shops, cafes, restaurants, etc.
@@madcockney The whole thing was a political scam, they bought out the banks with tax payers money, sold them at a loss, used the whole thing as an excuse to lower living standards as per tory doctrine and a few people got filthy rich. The real crime is people bought the lie and didnt slam on the breaks. Now look where we are. Everyone will accept this aswell.
@@RoadRashSpirit They had to buy out the banks if not the whole infrastructure of the UK would have failed. They were too big to fail. Virtually every other country had to do the same only allowing the smaller banks to fail. It's what happened after that which is up to discussion.
@@madcockney you missed my point
It's more like the old normal, like medieval times when there was a giant pool of poor peasants and a few extremely rich lords, with not much of a middle class in-between.
To be entirely fair, no government could escape some strongly-worded criticisms in this situation. Inflation, energy crises, impending wars would throw a big wrench into any government's cogs.
THIS government, though, is particularly unsuited to solve such a difficult situation. They care too much about their corporate friends to do something for the citizens.
I was astounded by the seemingly progressive, pragmatic approach of Sunak in March 2020 when the Treasury stepped in to cover a good chunk of furloughed workers' wages... But then realised that millions of self employed people had to wait months longer for any support. The government acted to prop up businesses, it did not support every individual. Properly funding the welfare system and improving sick pay regulation would have been a more robust response.
As you say.(This Gov. etc.) Here is just one example. UK Government has just approved a whopping 54% increase in the price of electricity. This in addition to the recent increase. Here in France, our Government has pegged all such increases at 4%, has paid us our annual 200€ allowance PLUS a further single payment of 100€ for this year only.
@@willieckaslike which stems from electricity in France not mainly being derived from gas.
@@willieckaslike You still end up paying though. As the energy supplier is state-owned, the discrepancy between what the energy costs and what you pay is just obfuscated and paid somewhere else.
I believe this is a good example of what my grandmother used to call - "the chickens coming home to roost."
The £200 'discount' is such a kick in the teeth, being given something that barely helps and *then* having to pay them back. I'm surprised we're not marching on Parliment because of this. It's so tough on the people who have it hardest of all. Screw the Tories, forever.
You'd prefer they didn't do that policy?
@@danielwebb8402 They could've easily done better considering they've been giving themselves massive payrises throughout the entire pandemic and are all extremely rich. But nah, the elite will only truly look after the elite.
@@cantin8697
They don't set their own pay roses
They are set exactly equal to the average public sector pay rise.
They voluntarily received no increase one year.
Apart from those 3 facts. You're on to something.
Agreed. We should all be in front of parliament right now. The problem is that us Brits love whining and complaining in the comfort of our homes or at the pub but never actually do anything about it
As has already been said hereon. This is NOT a discount. This is a LOAN, because it has to be repaid ! There is a difference, and this bunch of thieves use incorrect descriptive words to try to win your vote !
The opening of this video perfectly explains why maybe, just maybe, it was a tad silly to view Johnson as the "man of the people". There were clues (famously describing £250k as 'chicken feed'; all the articles he wrote calling anyone not a land owner or banker lazy and stupid). The rich are fine, and he and his cabinet of millionaires, in a party almost exclusively funded by millionaires, don't care about us. But he got Brexit done right? Not sure I can heat my dinner with that though.
I discovered this channel by chance. You guys are doing great work.
I had stopped watching news, although do read it regularly, but your videos are so good. Well done.
I stopped watching the bought and paid for msm over a year ago and cancelled my TV license, best thing I did....
Just a clarification on inflation. My understanding is that if inflation temporarily rises to 7%, and then falls back to 2%, then you are still worse off if you are compensated by a 2% pay rise. It does not mean that prices have fallen back down again, it just means they are going up at a slower rate.
The government is hoping that the wholesale price of gas will fall in the coming year, and at the very least will be lower than now by winter 2022/23. You can bet your bottom dollar that the Tory government (whoever is leading it) will claim it is there policies that have delivered lower inflation.
For those old enough to remember, Edward Heath won an election back in the 1970s by promising to slash prices "at a stroke". After the election he clarified that what he had promised to do was cut the rate of inflation. In other words, prices would still be going up.
In conclusion, I would say that it is very easy to mislead folk by muddling up the price you actually pay with a more tricky to define rate of inflation.
Most people are too stupid to know the difference.
It should be that wages are pegged to inflation, that ways employers have to be upfront about giving people a pay cut
@@Jay_Johnson And i would like a gold unicorn but both are just as likely to happen! lol
Wherever I go the gas the projected gas price for the next few years is expected to stay at more or less where it is now. However that does not take into consideration wars, disruptions, etc. Unless wages increase for the lowest paid, or some other means of putting money into the lowest paid pockets we will be in the same situation for several years. When Boris Johnson was saying that he wants to get salaries and wages up as they are too low I thought that yes they will put up interest rates due to inflation. We can see this being done now even though it is not traditional inflation as it is due to costs from outside of the UK.
The prediction that inflation will fall back down to 2% is wildly optimistic in my opinion. The hike in energy costs, food and other essentials isn't just a blip, it's here for a long time. And, of course, you are correct, if that was the case, it would only mean price rises are still increasing, but at 2% rather than 7%.
Boris is the anchor that holds down Levelling Up.
Appreciate the unbiased and well explained content, keep it up.
its not unbiased come on, he advocated for socialism lol
@@OdditiesandRarities all he did was point out that the welfare state isn't fit for purpose right now when it's needed, hardly advocacy. And if you think a welfare state is "socialism" you are politically illiterate.
They still aren't unbiased, clearly left leaning and still haven't removed their offensive biased Ireland badge from their stores
@@ParawhoreLoL Why is it offensive? Because it reflects the political reality of the State of Ireland and not the geographic region of Ireland? That's just accurate for pins based off of counties borders.
All media is biased, you should be worried if they pretend there not. But as far a not having major outside interests TLDR are quite good I think
In my opinion, the housing crisis is another factor which makes the cost of living crisis worse. When people pay most of their money for housing, inflation in food and gas prices is much worse threat for them. If the housing prices were half of what they are, there would not be a cost of living crisis now. And the housing prices were significantly lower in the past.
Looks to me like brittain has stagnated since the torries came in 12 years ago!
Yes, it has, you are correct.
The funny thing is the inflation % is almost always false for most people because it is an average, so if prices on every day basic goods increased by 30% but the rich guy's hobbies and yachts were reduced by 25% they ll tell you inflation rose by only 2.5% which is bullshit for the average person.
Inflation is calculated by finding the average increase in prices for a group of everyday goods so the super rich items would not affect the % we are told.
@@comedyweekly7566 Inflation is a word, people can calculate it in many different ways, there's countries that have use a specific basket of goods to calculate the inflation of said specific goods. They are obviously not gonna refer to it as general inflation though since that would make no sense, it is a specific type of inflation.
More importantly many countries who have used such tricks, dont usually use the cheapest goods, they might have used the ones that are a tiny bit more expensive, so if said goods only increased by 10% but the cheapest goods increased by 100% you can imagine how again the basket inflation wouldnt be very accurate.
So again, there's many tricks governments worldwide can use to make inflation look not as bad, my specific first example comes from Greece and it is very expected for other countries to use similar tricks
Inflation is calculated using a weighted basket of goods. CPI or consumer price inflation typically includes food and fuel, as higher weights. Yachts are not counted.
Yes, many people seem to fail to see the bigger picture in all this. Before Brexit, the pandemic and the present situation, the economy, the NHS and social security had all endured a decade of austerity under the Tories. So, the UK was already in a weakened position before the present onslaught. This is only going to make the problems we now face that much worse. The government can hammer slogans like "levelling up" as much as it wants, but it cannot reverse 12 years of austerity and wage stagnation in a couple of years, it's just sheer nonsense.
Decade of austerity = Government spending > 40% GDP every year
1997 - 07 = Government spending < 40% GDP every year
So not really austere
E.g. NHS budget increases in real terms every single year. There is one year, think 2012, where if you allow for inflation and increasing population and ageing population you can get a 0.000000001% fall.
What do you think you mean by austerity?
@@danielwebb8402 Take a trip to a council estate in Bradford, or a backstreet in Skelmersdale or in Kidderminster, ask the folks you meet in these places about austerity, I'm sure they will be glad to furnish you with an answer. I'm talking about families working full time having to rely on food banks, public services slashed left right and centre, policemen cut, NHS waiting lists increasing year on year, high streets with boarded up shops resembling wastelands. Nurses cut, no NHS dentists, libraries shut down, youth centres shut down, bus & rail services slashed, homelessness increasing, people begging on the streets, a failing education system, youth crime increasing, people having work on into retirement because they can't afford to retire. Failing social care for the young and old. Now, you carry on quoting figures as much as you want mister, but the cold, hard facts for millions of ordinary people the length and breadth of this country, tells the tale only too well of what's been going on over the last decade.
@@danielwebb8402 Yeah it doesn't really count as investment when it goes straight into the pockets of party donors.
You are just throwing out labour talking points. There is no austerity we kept spending and it didn’t do much good. So many people like you seem to expect a free ride. The government can’t fix it for you, you need to take responsibility.
@@Cassp0nk I need to take responsibility for the second global recession in two decades? Wow I must be powerful indeed.
So this is Boris's vision of "Leveling up" huh...
Uber's here in Manchester went from being £10 to £15-20 one way. Wild times.
That's not inflation thats Uber caving in on itself
@@michaelmoran9020 You know what, you are 100% correct. Uber really is a greedy shit show
@@InstantLuc They use oil for their services. Given the fact that oil prices are rising you can expect ubers services to rise up as well
@@InstantLuc Uber has been trading at a loss for years and the price hike has been them trying to transition to being profitable buy now no one wants to pay the true cost of the service.
@@michaelmoran9020 no its simply the price of the fuel, they were widely profitable.
I literally beg you, when the next election comes around, GET THE TORIES OUT. We cannot keep living like this, we have to try something else.
The cost of living in France and Greece has risen too. Not just the UK or of Brexit.
Ohh look brexiteers always making up lies to cover up their mistake. Just admit it you voted brexit now you suffer
You missed out on brexit costs. Anything from the EU will cost more. Anything that we used to get from the EU but now get elsewhere will still be more than pre-brexit, due to transport costs. Brexit isn't a big % of current increases, but it IS structural and long term
Definetely, also gas and transport of goods now cost more from EU, and we have ridiculous gas storage since we always imported without any issue from EU now this has been compromised... but we have the fucking blue passport.
@@pisolo86 Yeah, of course! Self inflicted economic sanctions are well worth a blue passport!
Hahahaha yes the far reaching effects of the dreaded BREXIT, the effect has even reached as far as the USA and Thailand. Hahahahahahahaha
@@polaris7122 You see, this is why free tertiary education is needed, so people can get a proper education and know how to think critically. So, Paul, because items we'd get virtually free of added import costs from the EU customs union are now more expensive, we try to get the same item from Thailand, for instance. Brexit hasn't changed the import costs of goods from non-EU countries, but we now buy different goods because it's more expensive from the EU.
This doesn't take into account the 60+ EU trade deals we were part of and have flushed down the toilet. So, in actual fact, post brexit, the same goods from the same non-EU countries will be more expensive if we had a trade deal via the EU with that country.
You see, it's complex. International trade is complex. This is why putting sanctions on ourselves and ripping up almost all our trade deals, something no country has ever done, is probably a bad idea. That's brexit. A shitshow
@@danellis-jones1591 get a life you clown. It's over just live your life, you are going or are already a bitter and twisted person. Crap happens in life just move on and laugh, just like i'm laughing at you now! hahahahahahahaha
What a great time to raise taxes on working and cut benefits.
That should take some money out of the economy.
Inflation is caused by spending, spending won't solve the problem of it is the issue
@@mangonel what you're on about is the price of living, which is effect by supply chains and shipping etc
Inflation is the value of money which is mainly effect by the amount of it in circulation, the government has spent massive amounts of money, that has increased the amount of money in circulation which has decreased the value, which is why interest rates are currently being rose to try slow down spending and therefore decrease the amount of money in circulation
If you read the bank of England's report on the current economic situation they literally state this
@@mangonel I don’t know what’s causing UK inflation. Americas is from congestion at the ports of LA and Long Beach but the UK doesn’t really have a equivalent to that. It could just be a weird combination of a lot of different things
I live in Europe and watch most of your videos about the UK. Is there ANYTHING going well in Britain? Are there literally any good goverment decisions? Any good piece of legislation? Any positive increase in any statistic?
No.
Nope.
None here
No, it really is as bad as it seems here in UK, and there is nothing good on the horizon.
Nope. Seems like the UK is rapidly deteriorating into a failed state.
Europe and the UK should have invested more in nuclear technology. Putin wouldn't have any bargaining chips and this energy crisis wouldn't hit so hard.
Sure, because the maintenance costs and nuclear waste are going to solve themselves. Btw, the UK is in Europe.
@@1nv15BL3: You rather be under the thumb of Russia deciding who lives and dies if they don't get what they want? Besides France recycle their nuclear waste so they make it more profitable unlike the states leaving 90% energy sitting in the basement.
I have been a long time tory voter, however after being subjected to this, I will no longer be voting Tory that's for sure.
You know a door is iconic when it can be used as an easily identified symbol of government
Guys you know how much I have had heating on this year? 3 times. Got no double glazing, on windy days you can feel the passage of air through one side of my flat to the other.
I have being surviving in duvets, getting up for work when it is like 10c in my room is not nice
You know it is going to be an… engaging… video when BJ is on the thumbnail
I am finishing uni this year and seeing more and more reason to move to Europe. At least until 2024, can get some work experience abroad and not have to live through this nightmare as we all know that being a young person trying to get a decent wage and place to live in, especially in London, is ridiculously difficult these days
I've been wanting to move even before I started uni. Now the will is even stronger but Brexit makes it harder
Bye bye social mobility. Through a lot of luck and work over 10 years I have just got a well paid job and started living comfortably, i.e. nicely above the minimum standard. But I can't even celebrate because it'll probably be about 6 months before I'm back in the poorest bracket despite being on the same wage. Every pay rise I work for now is just going towards bills and tax rather than improving my standard of living at all.
I hope Labour can capitalise on the failures of the Tories during this cost of living crisis and turn the electorate into supporting a robust economic policy that they would implement if they were in office.
Congratulations Boris Johnson, you have done a great job to the Brits🤣
"Heat or Eat" sounds like how I've been living for many months now..
The latest trend I've seen is all of my contracts raising their prices in line with inflation, so far my Internet and mobile phone contract. Obviously these companies are unwilling to lose out on any profit and so need to take more from me, the person already struggling and not getting a higher wage due to inflation...
Just the cost of housing in relation to the average yearly income, means we have been in a cost of living crisis since 2008, without even mentioning any of these other factors.
The funny thing about inflation is that it's more or less catching up with the intended 2% increase per year, as most of Europe stayed bellow that target line for the last 10 years.
Love these videos. Keep it up!
In my own home I've had to cut back my heating to just 2-3 days a week. Meaning I have a cold house through the working week and having to wear layers to stay warm.
Guess I’m the very first...
Dear TLDR. Please make a video on the pros and cons of Bradwell B project and whether this project will affect our national security or not.
I second this!
Maybe you should do a video about how the UK get it's gas since leaving the EU and why the EU is still getting a much better price for gas than the UK is.
EU uses the Russian Pipeline to gas that’s why it’s cheaper
Something else important to note is the National Insurance increase that deducted more from the pay of the least wealthy who were already most vulnerable
Yeeey! Finally, I can watch your content on nebula! Thanks!
Let's face it, since the financial crash a few years ago, the poorest have continued to be hit the hardest, while the wealthier were given tax breaks.....After previously working for a major energy company, I can say they are only bothered about satisfying share holders..they don't really give a damn about their customers, they love it when someone can't pay and gets put on prepayment meters as that's where a huge chunk of their profits come from, and once someone is repaying a debt through their meter, they are trapped and can't change supplier and pay an even higher rate than being on a direct debit.
There's nothing wrong with prepayment meters, they are the best way to pay for energy . It's quarterly bills that screw you to death, use some common sense pal.
If the Tories had their way, the "acceptable minimum level of well-being" would be poor people dropping dead in the streets.
3 months later and it's worse than predicted. CPI (inflation rate): predicted high 7% actual rate 11%
Oh Alex, you know i will always get back and pause for flashing jokes!
You missed the rising interest rates.
Just a thought about government expenditure and ‘Levelling Up’ funds. Does anyone think that if I wanted to build, say, an app-based Test, Track and Trace system, that I would be able to raise £37 billion via a go-fund-me?
workers are supposed to be due a pay rise , but even though productivity went up significantly, even since 2008, all that value is only shared to those who own assets. So asset owners got a pay rise given by workers who are doing more than ever before. The average looks good on paper, but median wise, its getting worse.
Everything is becoming more expensive, because those at the top are becoming ever more greedy. There's really no need for things to become more expensive, it's an ideological choice being made.
The rich are mostly in charge though
If only you were in UE we could share an espresso. They says it gives energy ♥️🇮🇹✋
@космический кадет unione europea 😘✋
Just imagine. Once the Tories privatize NHS to Americans, You get to choose between Food, Medicine, or Heat. Everybody say "YAY!"
That would never happen
Lol I'll just move to another country.
@@Lando-kx6so And who's gonna stop them, their conscience? ROFL
@@lolll3360 Lol! That's the spirit. And where? Canada? It would be ironic if you mention one of the EU countries.
This is really not how I thought things would go when I moved here 6 years ago
Crisis? What Crisis.... You just have to believe and give a thumbs up to any doubters out there!
- No10 Downing St..
It'd be good if you could take a look and maybe make a video on the mental health system in the UK. It's stupidly bad for people who need it the most like myself. No offence to anyone as trust me I know every situation is very different, but with someone with 'just' depression or mild anxiety it's not too bad as you can get CBT (Cognitive Behavioral Therapy) within weeks of asking the GP. But if you have anything more serious than that you are just put on a waiting list for anywhere between 6 months and 4 years+. I'm currently on multiple waiting lists all estimated to be around 18 - 24 months long, I've already been asking for help for over 10 years now. Unless you know how to 'cheat' the system, or in most cases actually get any kind of meaningful support, your kind of screwed to be honest and in my opinion left to basically die.
haha cbt
@@adhiwicaksono6149 yeah bit of an unfortunate name XD
I agree, I have severe depression and anxiety and have made 2 appeals for surgery and have been left rotting.
@@leeeyles1864 Sorry to hear that, I can relate as I have the same and many other problems! Really hope you get some support soon, it's really awful to be honest, it's why it needs talking about, especially at the moment
Having the same issue in America. I've been struggling even being placed on a waiting list for over a year now
Brexit is at the very least, a major part. First, there was the fall in the value of the pound. Leaving the customs union and single market, means extra paper work, border checks, etc, all cause more delays at the borders (which is set to get worse), all of which pushes up the cost UK imports. Lack of workers, is also pushing up the amount the UK has to import!
Its the biggest reason.
If Brexit is the biggest reason for prices of food and fuel going up then how comes that food and fuel prices are also going up for those living in Asia, Africa, North America, and South American continents?.
@@PSYCHIC_PSYCHO Probably because they aren't either in the EU? More seriously, slapping the door on your first economic exchange partner (like Switzerland also just did) won't help.
@@PSYCHIC_PSYCHO The UK is not compareable to other regions. After a surge in economic activity after covid, and therfor high Oil and gas prices. Energy prices have risen. For the UK however who import most of its needs from the europen mainland, costs for imported energy and food will increase because of supply chain costs. And the loss of ties with the single marked will continue to be expensive for the UK and its government, and taxes will continue to be very high.
Nope, we're going through the same thing in the US (increase cost of living) & i'm sure other European countries are going through higher energy costs as well
Could you do a video on each region of the UK ? The politics and economics of each
Bear in mind that the 5.4% mentioned is an average across all inflation measured I was having a look at the figures recently and there are things that have gone down which are masking things like a roughly 30% monthly increase in transport fuel from the end of October 2021 so it will be specific things that are bringing that average down that are not effecting people with lower to middle incomes effectively increasing that average by a few percent.
The energy bills £200 loan scheme is just a debt deferment plan that meets the needs of the energy suppliers and the ‘government’, but not the customers. Energy prices are, generally speaking, unlikely;y to go down over time. The current pricing problems may be a blip, but the overall trend is always ‘up’. This means that future UK users’ energy pricing is going to be higher still, by £40 per year. It’s not a solution, it;s just moving part of today’s problem and adding it to tomorrow’s problems.
All to make sure the energy companies keep their profits. One thing that the electorate should take on board when it comes to arguments over this scheme vs a windfall tax on energy companies, is that one of the UK’s largest energy providers, EDF, is French. So why is the UK government supporting a French company ahead of it’s own population?
I'd take it as they will likely scrap the repayment, just like all them huge loans they gave to everyone in lockdown and then wrote it off
@@healthiswealth6797 Yeah, right.
Whats this about £32 pp, I live in the north and never heard about it.
Think it's the amount of investment divided by the number of people, not like a cheque in the post.
Yeah my electricity has doubled in two years. I have definitely noticed it.
The main problem with inflation is that you savings dry up. Most of the other stuff gets corrected over time, those are temporary.
There is no £200 energy bill "discount." It's a forced loan. C'mon TLDR, you're better than that.
THey said that.
@@pisolo86 They said it's a "discount." It is not.
Welfare state doesn't work if middle class is also struggling.
And you can't solve it by "splashing more money", that would make the inflation worse...
Thankyou
Except economic theory and reality has proven time and time again that spending your way out of a recession or crisis the way to go. You just have to spend responsibly, effectively and lastingly. Austerity has demonstrated that it simply can't deal with a crisis, because it was never intended to do such a thing. Austerity, if used well, is done during a economic boom to stop the economy from running away and causing a bubble.
Please tell me what you use for your graphics videos?
This is going to set off another Financial crisis with millions defaulting on debts.
What do I think? I am not a citizen of the UK or of England(Canadian) and I am already poor so my opinion is highly biased, I assume the cost of living will continue to rise forcing more people below the poverty line and the majority will complain for a bit and then become dissalusioned and accept the state of affairs because Capitalism treat the poor like criminals. (Capitalism not the Capitalists, the system not the people) So unless your government finds funding from somewhere else to allocate to the poor, they will be given what is available and told to stop complaining because "everyone has it rough."
I'm sure the government will solve this! They will adjust what "poor" means, or "poverty line". If you can have heating once a week and eat every other day, you aren't poor.
Problem solved!
We've already adjusted poverty to "Dave next door has a nicer car".
Hey. Hey how dare you call me out about pausing to see the joke lmao.
TLDR needs a TLDR shorts channel: TLDR squared
Why doesn’t the government just give vouchers for essentials ?Like heating and food ,so it wouldn’t touch the economy while ensuing people have a standard of living . That is what my local government is doing . Or is this a naive view ?
Because that would be a generous thing to do and the tories don't like the poor. Just look at the tax rise, they are raising a tax which doesn't scale well with wages, since they want to screw the poor while affecting their rich friends as much as possible. I believe there were also tax cuts for banks and they refuse to tax the booming profits of many companies. Oh and let's not forget how they talk about needing to raise these taxes when they wasted ~£50 billion on just three aspects of the pandemic (£37B on tack and trace, £9B on crap ppe and £4B on furlough fraud). They don't understand money
Because its pouring more money into the system effectively which would make inflation worse for everyone
Wouldn't touch the economy?
Giving people free stuff has no cost to the economy?
@@danielwebb8402 no such thing as "free stuff" someone has to pay for it down the line. Vouchers would effectively be a subsidy on food and drink, giving people more money is an excuse for business to raise prices and subsequently inflation.
@@7inator
Doesn't scale well with wages?
So 1.25% increase for all bands doesn't scale? Doesn't cost someone on 100k twice that someone on 50k? (Is slightly more than double due to threshold). Doesn't cost someone on 50k more than twice someone on 25k?
And even though their kids were starving
They all thought the Queen was charming
Over the last 2 years I have paid off all my credit card debts and personal loans and have now saved a 5 figure rainy day fund due to the covid crisis changing my spending and no longer having to commute, I never would have thought that would be possible if you’d asked me before the onset of covid. I now am much better placed to deal with increased costs. This phenomenon is not unique to me …households across the uk saved £190billion in 2021 alone. To present the full picture you would have needed to refer to this huge bank of savings that sits within the economy.
I'll never understand why countries can't understand that raising prices but not raising wages doesn't work
Taxation, Coronavirus response (second harshest lockdown in the west & seventh harshest in the world), furlough, lack of staff, lockdowns is basically what it boils down to.
If you didn’t know this was coming two years ago when the Coronavirus response happened you failed at economics.
Are you against lockdowns or just how this Government did them?
Also do you believe if there was no lockdown or restrictions in place, the economy would be better? And if you do, how do you consider yourself a serious person?
@@gHGhej Completely, the government is responsible for this inflation solely. It’s all self inflicted & we knew it was coming because it’s the most basic of economics, if you tell staff to stay home, lock an economy down, have a complete lack of staff at docks checking imports & print extra money to achieve this it’s pretty obvious the inflation is coming, maybe it’s because I’ve studied economics but it should be pretty obvious.
@@diesel92kj1 World wide economy but ok blame the Government solely.
I doubt you studied anything because you mashing different points togther to make a 'point'.
First of all, work from home is something that will be happening anyway for a good number of jobs and also many roles were vital so physically manned.
Also economies change, I did not see Amazon drop sales. Adopt or die, that what happens and the Government is hurting the economy by trying to force it back to pre lockdown ways.
I do not understand how lockdown affected dock workers, but to me, should not employers be offering better wages to get workers?
Brexit is 90 % of the reason, and Brexit is the driving force for all the reasons he stated. Kinda strange he didnt dig deeper, and just looked at the surface.
ohhh boy well we just want a great life in our own form then the government screw us all then party on 10 us we cannot see our own family on holidays our money screw were screwed
What annoys me is out FTSE 100 hasn't moved in 5 years vs america where it's up like 250%. We should have given people stimulus checks, america printed money so we have inflation anyway. We are a tiny nation and that wouldn't have cost much to really do.
Hang on.. a discount... that you pay back. That’s a loan.
So, basically …. everything that comes out of Boris’s mouth is utter nonsense when it comes to the real fiscal situation affecting folks in the UK.
I'd love to know how the people in the poorest percentiles voted... I'm not saying they reap what they sow it's just that the level of political education in the country is probably quite low for those percentiles.
They voted for smear campaigns and false information. The tories acted under nationalistic policies to drive traditional small extreme rightwing party voters to vote for them.
@@86pp73 How am I spitting on them? All I'm saying is the political education is low and that's likely done intentionally by the government of course I could also be wrong. I'm just interested in the statistics and correlation.
True in the States too. They’d never believe it though, being entrenched in a culture of skepticism of education is an immovable thumb on the scale.
@@GarfaGarfGarf My apologies, I had a knee-jerk reaction to your statement. I will remove my original, offensive reply. I am unfortunately very used to pro-EU types spewing "tHeY GeT wHat thEy deSeRVe" comments when it comes to political discussion.
To seriously answer your question, I would say yes, people are poorly politically educated, regardless of income. As you would expect, being in touch with any country's political system requires a large amount of reading, which many people simply do not have time for. It is one thing for information to be available, but another to be able to access it. The masses have to rely on news outlets and public figures to refine and simplify that information for them, which is why honesty and integrity in journalism is so deeply important.
Again, my apologies for my previous reply, but you can see why I get aggressive over it. Far too much do I see political zealots deliberately laying the blame with the people who voted for the difficulties we face today, and not the newspapers, television stations and politicians who repeatedly lied to them. Such zealots always seem to be at least somewhat well off, with plenty of time to sit on their arse and look down on those struggling to make ends meet...
@@86pp73 no worries mate it's fully understandably given the political climate the entire world is in.
I will say it takes a very big person to apologise and in my opinion it's only with humility can proper resolutions to the world's problems be made.
We are the only living species on earth that pay to live…
Monkeys sit on their a**e all day and get given food and shelter?
Since when is TLDR available on Nebula? I just noticed and I'm pleasantly surprised.
"facing an eat or heat dilema" is a lack of knowledge
*YOU VOTED FOR TORIES - YOU GOT TORIES - STOP MOANING*
The only people with any valid complaint are those who voted against the Tories and against Brexit - and you lot have my DEEPEST sympathies.
If government really want to balance the budget, then they wouldn't waste billions during covid.
You say it is wasted billions, I call it handsome return on investment for tory donors or corruption for short.
7:41: Well, 💩.
And what a surprise the most well off will not even notice a slight pinch. This isn't a cost of living crisis, this a matter of survival.
Solution: Eat the rich.
The answer is a six letter word starting with B, ending with T and having the letters rexi in between.
Would the EU have stepped in to stop this?
You wouldn't be facing food price increases due to higher transport costs or such a high increase in gas prices if you had stayed in the European energy market or had not sold off your gas reserves in 2017.
If Brexit is the root-cause of this dire economic situation then explain why this situation is affecting entire planet and not just European countries?; your argument is EXTREMELY weak
@@frankowot4 pretty sure this is affecting everyone which transport and Gas crises. How do you know the EU would prioritise the UK? Have they done it before.
Well I'm not feeling great about the next year
I've definitely noticed the difference my savings have decreased so I'm having to find savings in other ways.