Rachel Reeves consciously talked down the economy leading up to the budget, increased employers national insurance contributions then wonder why the economy is performing poorly ever since. It doesn’t take a genius to work out that higher taxes & costs leads to worse economic performance
@georgewright994 Oh sure...I remember the boom times right up until July 2024 when Labour were elected. Its strange that the Tories were not rewarded for this bonanza and were instead thrown out on their backsides, heh ho!
The Tories had employee NI at 1.25% higher and employer NI at 1.25% higher. Then they dropped both and cut employee NI by 4% more under 50k. Then Labour won and we needed to get back that money the Tories thought we needed but then decided to give up on. But they put it all on employers.
Anyone who runs a business knows how bad it is. I have price increases from suppliers of up to 9% being implemented in the new year. Spiralling inflation on the way!
We're in stagflation and bond vigilantes are starting to circle. Every SME biz owner I know has redundancies pkanned for January (by the time we'd worked the NIC car crash we didn't have the heart to do it before xmas). Example of the scale of the NIC fiasco - solid hairdressing salon employing 15 hairstylists in London. NIC increase is £60k. Two will be let go in January. So much worse to come.
The £60k will include minimum wage impact. In total it's £2500 extra per full time minimum wage staff member. However, business rates and supplier costs will also increase and % increase is higher for part time and young staff - cost of a part time 18-21 year old on mw will increase by 25%. Outlook is especially grim for sectors like hospitality and salons that rely on these workers + discretionary income spend - unlike eg. supermarkets far from clear that they'll be able to restore much margin by increasing costs. Supply will therefore have to reduce.
@MCDONALD6969 to begin with, the amount of cuts to the public. They should take a long look at their own and make cuts to their own. Then the money to other countries. I'm sorry but how can anyone send money elsewhere when their own funds are suffering... then the money that was being paid to the EU.. why isn't that being used to pay debt off. All that money from the above combined, should be enough to make a dent in getting them back on track.
@MCDONALD6969 we will never know unless they get in. But after all these years of disappointment from governments. I hold no stock in any political party. I couldn't even vote because I've never been abroad, so don't have a passport, and I don't drive, so no licence. I wasn't allowed to vote.. which I think is actually illegal. 🤔 maybe I should sue the tories.
All those growth figures look optimistic as we finish this year. It was a budget of unintended consequences which doesn’t give confidence in the chancellor’s judgement. It wouldn’t surprise me if she was replaced by a senior Labour figure such as Liam Byrne if things still look shaky in the second half of 2025.
UK inflation is the highest in Europe, sterling is tanking against the USD, interest rates will have to go up to defend the currency, and to persuade foreign investors to lend more money to the government. Reminds me of the early 1980 period when rates rose above 15pc.
This government have yet to make a decision that's remotely sensible. Regrettably, so much of what they've done represents poor politics and even worse policy.
What 'improvement' in which 'services' ? or is that yet another nebulous Starmer lectern lecture with no plausible measure to demonstrate a measurable result.
One more point with all those future predictions, they NEVER EVER factor in 'surprise' events, like the 2007-8 market crash, covid, Russia / Ukraine war (I won't mention self-inflicted harm like austerity or brexit). They should find a way of factoring for 'surprise' events as they are not really surprising, we currently have one every 10 yrs or so, on average. One thing we know, is having a lot of money helps to cope with them.
Slow growth can be a good thing means others can come into the market making room for competition, if one company can’t grow doesn’t mean another can’t
Very true. Some hoteiers on the gravy train. I know one making £1m profit a year - happy as larry. Would typically only make 1/3rd of that based on variable occupancy rates.
Economy stagnating, inflation rising ,interest rates will have to rise the mortgages will go up again ,,, it's a grand old world & I don't give a s###. 😂 🤣 😅
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Rachel Reeves consciously talked down the economy leading up to the budget, increased employers national insurance contributions then wonder why the economy is performing poorly ever since.
It doesn’t take a genius to work out that higher taxes & costs leads to worse economic performance
@georgewright994 Oh sure...I remember the boom times right up until July 2024 when Labour were elected. Its strange that the Tories were not rewarded for this bonanza and were instead thrown out on their backsides, heh ho!
The Tories had employee NI at 1.25% higher and employer NI at 1.25% higher.
Then they dropped both and cut employee NI by 4% more under 50k.
Then Labour won and we needed to get back that money the Tories thought we needed but then decided to give up on. But they put it all on employers.
@@desmondroberts6034 Fastest growing economy in the G7,...then idiot Reeves talked down the economy with invented doom and gloom.
That's the plan
Economy will go nowhere with this lot in government.
They want to use it as an excuse to get “closer” to their precious EU.
Yeah it's been going great guns for the last 14 years, especially when Liz Truss blew a 22 billion hole into it!
It's not going to end well for labour. Any independent person with a brain know it's going to be a disaster
More or less of a disaster than the unfunded NI cuts over the last few years?
Compared to what lol? The last 4 years of utter circus performers?
Anyone who runs a business knows how bad it is. I have price increases from suppliers of up to 9% being implemented in the new year. Spiralling inflation on the way!
A budget that increases demand and cuts supply. What could go wrong?
Nobody in cabinet has any business experience , so better not expect sensible decisions anytime soon .
It’s due to Rachel from complaints.
As Labour say, it will get worse before it gets worse.
Jury is back in. 2TStarmer and Thieves are totally useless!
We're in stagflation and bond vigilantes are starting to circle. Every SME biz owner I know has redundancies pkanned for January (by the time we'd worked the NIC car crash we didn't have the heart to do it before xmas). Example of the scale of the NIC fiasco - solid hairdressing salon employing 15 hairstylists in London. NIC increase is £60k. Two will be let go in January. So much worse to come.
The £60k will include minimum wage impact. In total it's £2500 extra per full time minimum wage staff member. However, business rates and supplier costs will also increase and % increase is higher for part time and young staff - cost of a part time 18-21 year old on mw will increase by 25%.
Outlook is especially grim for sectors like hospitality and salons that rely on these workers + discretionary income spend - unlike eg. supermarkets far from clear that they'll be able to restore much margin by increasing costs. Supply will therefore have to reduce.
They could sort this out, they just dont want to...
How specifically?
@MCDONALD6969 to begin with, the amount of cuts to the public. They should take a long look at their own and make cuts to their own. Then the money to other countries. I'm sorry but how can anyone send money elsewhere when their own funds are suffering... then the money that was being paid to the EU.. why isn't that being used to pay debt off. All that money from the above combined, should be enough to make a dent in getting them back on track.
@XKoriX214 Reform are the only option for a brighter future for the UK
@MCDONALD6969 we will never know unless they get in. But after all these years of disappointment from governments. I hold no stock in any political party. I couldn't even vote because I've never been abroad, so don't have a passport, and I don't drive, so no licence. I wasn't allowed to vote.. which I think is actually illegal. 🤔 maybe I should sue the tories.
Did the Tories get scrutinized to the degree Labour are getting within their first six months???
Thanks to Brown.// ''there was no money left'' plus a crippling deficit of £160B....toxic legacy in 2010.
All bs, it's a lot worse than they are admitting.
Its all gone downhill since Brexit .
But ignorant fools will say otherwise.
Yes Germany and France no doing so well definitely must be brexit 😂
Yawn !
@@fionnaighhessey131I’ve been hearing the same thing for years but guess what. The UK is doing even worse.
We need to export.
Agree. But I don’t think any other country would want our Politicians 🥴🤣🤣🤣🤣
@garywilson1235 They're my little Pokémon 🥺
All those growth figures look optimistic as we finish this year. It was a budget of unintended consequences which doesn’t give confidence in the chancellor’s judgement. It wouldn’t surprise me if she was replaced by a senior Labour figure such as Liam Byrne if things still look shaky in the second half of 2025.
The Jury's out - sure we know the Verdict of that budget - GUILTY!
UK inflation is the highest in Europe, sterling is tanking against the USD, interest rates will have to go up to defend the currency, and to persuade foreign investors to lend more money to the government. Reminds me of the early 1980 period when rates rose above 15pc.
Under Thatcher...
The public are ruthless for voting for this
Uk is not united anymore
Billions in profits....and yet they say corporations are taxed too much....NHS collapsing and they say we should privatise.
The nhs is a drain, but taxes need to change to turnover rather than profit
Corporations aren't a charity, saying that the NI changes are hitting charities in a big way .
Going to have a 2TIER Economy one for Labour and one for the rest of the country
Lies,lies and more lies and these lies mean investors cannot trust the government.
This government have yet to make a decision that's remotely sensible. Regrettably, so much of what they've done represents poor politics and even worse policy.
BREXIT! £40bn to the EU. We had to scrape £4bn for the budget. That's 10x what we need. Those xenophobes who voted leave, well done!!!
Get a new calculator. Your using Racheal`s.
@@damianbutterworth2434 get a new Dulux colour chart. Coloured people aren't going anywhere, anytime soon :)
No worries mate no complaints here 👍
What a load of tripe.
What 'improvement' in which 'services' ? or is that yet another nebulous Starmer lectern lecture with no plausible measure to demonstrate a measurable result.
Improvements are made by audit and outcomes, not pay rises and more borrowing.
I suspect it would
Or business will cut their profits.. no one ever mentions this.
nothing to see here, scurry along folks and don't forget to vote for us !
One more point with all those future predictions, they NEVER EVER factor in 'surprise' events, like the 2007-8 market crash, covid, Russia / Ukraine war (I won't mention self-inflicted harm like austerity or brexit). They should find a way of factoring for 'surprise' events as they are not really surprising, we currently have one every 10 yrs or so, on average. One thing we know, is having a lot of money helps to cope with them.
Slow growth can be a good thing means others can come into the market making room for competition, if one company can’t grow doesn’t mean another can’t
Tell Reeves if she not asleep
6:00 - new forecast ?? This guy is talking nonsense - the forecast is released just this month Dec 2024.
Immigration support and services industry is booming
Very true. Some hoteiers on the gravy train.
I know one making £1m profit a year - happy as larry. Would typically only make 1/3rd of that based on variable occupancy rates.
Stagflation?
Economy stagnating, inflation rising ,interest rates will have to rise the mortgages will go up again ,,, it's a grand old world & I don't give a s###. 😂 🤣 😅
Just look at the complete lack of talent on the labour front bench, a civil servant dream come true, they will run rings around there minister s,
They look serious compared to the tory reform mps
This budget will accelerate the adoption of AI - the business case for AI is here…5 mins into this interview and no mention of AI. Shocking…
AI to stack the shelves in Tesco and wipe people's arses in nurseries and old people's homes?
former deputy(not the best then), yeah ok, sky right wing bias, yeah ok, nothing new here. £200k plus jurnos worried about paying tax