@@anonitachi6966 And what do you think LESS money in people's pockets will do in such a precarious situation? How do you think LESS disposable income might affect the economy? You think it might make it worse?
@@chrish9164watch them raise taxes again to ‘fix’ it. It’s not incompetence, the fake GDP and inflation figures while energy regulators, water companies and supermarkets clean up. Accelerated decline!!
Its funny, in the 1990s/2000s, you had western politicians & economists berate the Japanese for creating a zombie economy through super low interest rates at the end of their 1980s housing/asset bubble. Then at the end of our 2000s bubble, those same politicans demanded we do the same here. I guess our politicians were more 'successful' (if keeping housing costs permanently at their unaffordable 2006 high in real terms is success) at reflating the housing market, but we have the zombie economy all the same.
Nobody has any money in the UK come the end of the month due to low wages and the cost of living so are not spending as are struggling just to survive. I can’t see it getting any better
The Tories made it illegal for wind turbines to be added to the grid for years. Thankfully labour has reversed this, but we've lost so many years of investment.
UK specific problems...lack of affordable housing, high energy costs due to chasing net zero, low productivity and poor political leadership and strategic vision by both parties. Time to emigrate!
@@jamespaul6315 You can literally go to the government website and see the December 2024 forecast that also shows GDP growth for this year. It has been going down since Labour took over
Complex problems have complex solutions. 20 years of conservative politics have only added to the complications. So yeah, reap what you sow with Brexit, innit?
Rising petrol prices? Oil prices are currently at their lows of the last three years. What on earth is going to happen to petrol prices when oil goes back up?
Look at gbp/usd rates if the dollar strengthens against the pound that makes fuel more expensive for us as oil is priced in dollars. It was 1.34 in september and we’re at 1.25ish now
Brexit has ruined my small on line business. We do not sell the EU anymore, this was 50% of our sales. Many other export business are struggling. Its Brexit start talking about it, its a failure.
Agree I run a removals business - due to the burden of paperwork and uncertainties of customs regulations, it has become too troublesome to move to the EU and we are no longer servicing these enquiries. There have been no positives of Brexit as far as we are concerned.
@@jamjam2833 I wasn't expecting anything, because it's too early, and attributing everything that's happening now to the new government as the interviewee said it's inaccurate. I'm expecting to see results in a year at least. I think the tough choices were necessary and a way, for once, not to lie to the public like the tories did saying always "everything's great!". If in a year or two, the economy will still be stagnant, it'll be a big let down indeed.
It’s absolutely certain there’ll be a recession next year. It’s happening already. Labour are just crushing the economy. More taxes, inflation rising. Unemployment will rocket. Interest rates will stay high. All because of Labour’s policies. The Tories were incompetent but the economy was growing. Davies talks about inflation calling everywhere else but can’t bring himself to admit it is 100% because of Labour’s policies.
No. Recession is coming, save you money in cash and hunker down. Nobody is hiring and confidence has been shattered by Starmer and Reeves. Look also at the state of the EU. France and Germany are collapsing. The EU is dying.
What the former Nat West chairman fails to mention is that one of the biggest (if not the biggest) drivers of inflation is housing costs, I.e. mortgages. Cutting interest rates would reduce this cost considerably and bring inflation down. I wonder why the ex Chairman of a bank wouldn't mention that...
Service sector inflation has to come down 1st as it is 75% of the UK economy. The BoE took too long to raise interest rates and is paying the price for dithering with higher rates.😊
Was Howard's and Andrew's suggestion to fix the problem - essentially constrict private sector wage increases? What about public sector wages? It's not as though the UK employment market is heavily skewed in the direction of the private sector.....anything but.
The country has been going downhill since 2008. Brexit has exacerbated the slide. The Tories made things worse and the pandemic and Ukraine war compounded it. Now Labour has been shown to have little idea of how to turn it around. Oh dear....
@@Justin-wu4yw Handily forgetting that their budget only came into force recently and we're still having things from the tories slowly make their way through I see. Very typical. I'm guessing you're one of those ones who was blaming labour after over a decade out of power..
When interviewed wealthy people (very often tax avoiders) insist that working people should not be looking to get a fair wage because "We are all in it together".
Even CPIH is inaccurate; the OOH component of CPIH only weighs about 27%. Most people actually pay more like 40%-60% of their income on housing so the true figure is even worse than that!
Thats what happens when you put a home help, and a woman that worked in the complaints department at a call centre, the most important jobs in the country. And those that voted for them, actually believe that they are both economics experts, and suddenly got super genius overnight. When the truth is. They are all abysmal.
Remember people...'Woke' Covert Narcissists will all exhibit the same old narcissist traits in the comments. Look out for Deflection and Blame-Shifting (To "Brexit!" or "the Tories!"). To avoid Accountability and Self-Awareness. Both Kryptonite to the Left. All Leftists have a 'Covert Narcissist' mindset. The Grauniad has been the focus of Narcissism (in Psychology), for over 30 years. Learn why, by researching the messed up mindset.
Boris Johnson could not read an epidemiological graph, or any graph, at least Starmer defers to facts not ideology, such as Johnsonian total libertarianism and a disregard for reality! Brexit is a case in point, fantasy economics peddled by nationalistic ideologues like Patel, Rees Mogg, Johnson, Raab (had no idea about the importance of Dover), Bone, Davis (though Berlin controlled the EU), Redwood, Barverman etc!
Amazing how we only went into recession after labour introduced the largest tax take since 1993, yeah nothing to do with that. When in doubt scapegoat brexit 😂
@@lewis123417 100 billion down a year since brexit, 2023 0.3 growth . but the recession is all labours fault . When in doubt scapegoat anything but brexit
When all you do is make workers pay, for the profits of the bosses of the water, gas, electricity, landlords, etc., the profits of the shareholder’s . And you expect other results. WOW!!
Too bad when given the option the people of the UK voted on tribal lines for two equally bad parties instead of voting for MPs that actually care about their constituents.
@@edthompson9337 Oh, you're talking about those taxes that won't come into effect until next year, and which small businesses won't be negatively impacted by due to increases in support for smaller businesses which will actually see them benefit in the future? Just a thought but before you open your mouth maybe actually learn about what you're talking about.
@lcg8220 Business confidence is down, fact, the additional costs are coming, fact! Business plans ahead, fact, use your brain before you open your mouth!😂
The UK should not look at the 10yr German bund as a benchmark which is in a different league, I would rather suggest to use the Greek one, and even there is a large (and widening) gap: 10 yr UK gilt today: 4.56 % 10 yr Greek bond today: 3.08 %
Your choices are. Stagnation but slightly better public services. Siphon the middle class and sell it to private. Or blame everything on immigration, and vote for a xenophobic 'Tories in disguise' party that have absolutely no plan nor business running a country. Genuinely our best option now is a majority swing to liberal democrats, but as the replies to this post will show, that sways of the electorate will demonstrate their incredible lack of foresight, vacuum of humility and general incapability to think rationality.
First off...who actually still believes that any state of economy serves the common people? The rich get richer and we poorer independent of how the economy is doing. And we need to stop growth based capitalism anyway. Just eat the rich and be free on a healthy planet
Let’s get this straight, two people who have never set up or built a business think they know better than those that have. 🤔 They know less than nothing, they haven’t set up a business, haven’t taken on staff, bet their houses on the outcome, these guys know absolutely nothing about business. When they’ve done something useful I’ll place some importance on their pontification, until then ignore them.
They changed the way we calculate debt to fudge the numbers were already in a recession. Government borrowing is excessive that's the reason for inflation
We don't need growth. If property prices fell that alone would improve finances for everyone drastically. Also, if we moved people off low paying jobs (e.g. Amazon warehouse) into higher paying ones (e.g. skilled tradesman) wed also get growth. And in particular in the areas that matter (e.g. spending on the high street which raises incomes for local businesses). The same increase going to a banker in London won't have the same impact.
@@plagiarisedwords We need development and growth, more inward investment (green tech, Britishvolt fell flat) and better infrastructure, then the economy would turn around! And what would be the catalyst? Re-joining the EU!
Stagflation for 2025 if companies chase up inflation. Those public sector pay rises awarded without any productivity gains are looking foolish. You’d think we had a government with no business experience wouldn’t you.
Public sector is mostly stretched and understaffed due to years of cuts. Some staff members doing the jobs of two or three people. What more can you pull out of those people??!!
Was it Andrew Marr who after the election said in a celebratory mood that the adults were now in the room. Remind me of the inflation figures and other economic stats now related to those immediately prior to the election.
Flatlining! You wish! Inflation is on the way up, but fear not, we have a complaints expert in charge of our economy. You should be ashamed of yourselves for shrugging at this.
Those things haven’t happened yet, you can look forward to that in April. The current problems have been created purely from the mere thought of labour being in charge.
@ the minimum wage went up 10% last April, that’s still washing through the rest of the work force as performance management reviews take place. They will also be adapting pricing and recruitment policies ahead of the budget changes they won’t leave it to the last minute. I’m just pleased I stopped employing people directly about 18 months ago. Best thing I did. Business is reaching an inflexion point, almost 30 years of socialist left wing policy is making the country poor. Next year will likely be worse as you say.
"Reducing costs" - lower wages for workers, and higher unemployment. No sign of investment from the wealthy classes, or improvement of management standards. Perhaps planning changes might help us, but it seems "the workers suffer as they must" as per normal.
The tendencies towards higher inflation are plain to see. I find it intolerable that the Radio Times now retails for 4.95 GBP (having almost doubled in price during the past decade), whereas if you buy a German equivalent such as HörZu it'll cost you just 2.20 EUR. That is a whopping difference between the two countries for just one product.
They must have known the business tax would be passed on to customers. They just didn't care. It's almost as if they have planned a slow destruction of Britain,or it may just be incompetence.
The UK growth has stagnated for years and let’s be honest I don’t think there is any real chance of it increasing much under any party. There is too much competition from other wealthy countries and developing countries.
The British people voted for economic decline. And now you don't like it. Who could have predicted this outcome? I hear the NHS is in a mess. What ever happened to that bus anyway?
Remember people...'Woke' Covert Narcissists will all exhibit the same old narcissist traits in the comments. Look out for Deflection and Blame-Shifting (To "Brexit!" or "the Tories!"). To avoid Accountability and Self-Awareness. Both Kryptonite to the Left. All Leftists have a 'Covert Narcissist' mindset. The Grauniad has been the focus of Narcissism (in Psychology), for over 30 years. Learn why, by researching the messed up mindset.
Who's having 5% pay rises still? We've been out of work or had no pay rise for five years! If companies did give us our raises, the economy would be better because we'd have money to spend!
When you address income inequality. It happens initially. Yes, the drastic brakes on rampant immigration will lead to overall contraction, but a pick up in gdp per capita is soon to follow suit.
When foriegn companies/hedge funds own Britain, and politicians in their pocket - why wouldn't they raise prices? Who is stopping them? And that's not some Reform rant, just the default position in the UK since the 90s.
Which bit of Starmers promise 'absolutely no plans to cut the over 66's free bus pass' will be salami sliced first and then quietly 'forgotten'. Starmer certainly did not suggest extending this important scheme.
Pay raises and increasing workers spending power is the most important thing! The govt should look a incentivising employers to hire and or increase wages. One way they can do this is but issuing tax breaks i.e. corporation tax etc for employers who have hired proportionally to their revenues or have shown to increase salaries in line with their revenue generation. This will empower employers to hire and increase the spending power of employees!
2025 looks like being a tough year for the UK economy after the tax raising budget and rising energy costs. Very little to be optimistic about for the UK and the same applies to both France and Germany.
Heres the thing, the uk pound sterling needs to stay strong, its needs its value to have high buying power, the only way to strengthen the pound is to go through things like inflation, tax rises ect
Inflation devalues a currency not strengthens it. Not sure where you get the idea of tax rises strengthening a currency either, particularly when they are combined with heavy borrowing.
Anyone who runs a business knows which way the economy is going. I've had suppliers implementing price increases of up to 9% next month. So my prices will be going up too!
When newbies enter the Bank of England offices for the first time... they can be intimidated. Labour were newbies... and they were intimidated. This is the result.
all RR needed to do, was stick some more cash in the NHS and raise income tax + NI, a little. Job done. The rest was taxing the middle classes (and thus taking spending out of the wider economy), and taxing the working classes in the form of high inflation for longer
Maybe we should follow Mileis example. He removed rent controls in BA and rental costs fell 50%. We dont have tent controls but we have even more severe intervention, we could end direct government payments to landlords. Sure some people would go homeless but Im sure the landlords would capitalate and rents would fall precipitously. Then... Inflation? What inflation? Workers could continue to be poorly paid (all cheer and clap on command) but they would suddenly have spending power. Of course house prices would fall and the fudge that is GDP would probably fall off a cliff, before rising again, pick your problem.
Laughable that his argument is that interest rate rises are due to uncontrollable wages rises - the alternative examples he gives as having low inflation - France / Germany have higher wages...
Labour had to do something to improve situations fast, I always thought VAT cut. They did the opposite, with pace, without thought apparently. It's just so odd, either we are in a dire situation they do not want to explain. Or they are mad.
Following the consensus of politicians, economists and other professionals has simply lead to economic decline. Continually justifying failure by blaming decisions that somehow deviate from the theoretically perfect strategy indicates they aren't living in the real world, just a model of what they think exists.
5% of FA is FA. Wages have been suppressed since 1970s. Chasing rainbows like net zero and the UKs reduction to a Service sector economy have been affecting inflation more than these commentators care to mention.
The only American who won't acknowledge this Administration's failed economic policies is Joe Biden. "Shrink-flation' is the least of our worries compared to rising rents and stagnant wages, but it is an undeniable indicator of how bad our inflation has gotten. I have $100k that i like to invest in a non-retirement account, any advice on that?
It's always odds on that there will be a recession when Labour are in Gov, did anyone really think things would get better ? I know the Tories were bad, they are corrupt but Labour are corrupt and incompetent.
I honestly don’t feel like we ever fully recovered from the GFC in 2008. We have had some mini booms driven by stimulus but all the various stimulants injected into the system over the past 20 odd years have distorted things. I just don’t think the fundamentals have been right for some time in terms of Labour skills and supply, productivity, National infrastructure, public services and business investment/innovation Feels like a very superficial economy built on the financial industry which itself is built on hyping asset values up higher and higher (property, stocks, Bitcoin etc)
Brexit is too easy a reason to blame for our wows but if we look at the Euro zone then it's clear they are in a worse position. France is all over the place while german car manufacturing is in free fall. The single negative factor we have now is interest rates which is taking money from our pockets while reducing investment
The UK is already in recession
It has been balancing on a pinhead for 10+ years. UK media is a joke
Just don't look at absolute GDP numbers but GDP/head!
@@anonitachi6966 And what do you think LESS money in people's pockets will do in such a precarious situation?
How do you think LESS disposable income might affect the economy? You think it might make it worse?
@@chrish9164watch them raise taxes again to ‘fix’ it. It’s not incompetence, the fake GDP and inflation figures while energy regulators, water companies and supermarkets clean up. Accelerated decline!!
@@anonitachi6966they try to bend it like Beckham. Well over the bar 😮
Wait we're out of the 2008 recession? i hadn't noticed.
This.
Its funny, in the 1990s/2000s, you had western politicians & economists berate the Japanese for creating a zombie economy through super low interest rates at the end of their 1980s housing/asset bubble. Then at the end of our 2000s bubble, those same politicans demanded we do the same here.
I guess our politicians were more 'successful' (if keeping housing costs permanently at their unaffordable 2006 high in real terms is success) at reflating the housing market, but we have the zombie economy all the same.
Nobody has any money in the UK come the end of the month due to low wages and the cost of living so are not spending as are struggling just to survive. I can’t see it getting any better
Reform has the answer ❤
@ who?
@@TB-vm9yr Reform party
Headed by Nigel Farage
A Savoir of our once great country
@ never heard of him.
@TB-vm9yr well worth a look.
Especially if you want to keep more of your own money.
Energy prices are the main driver of this. Our governments have completely failed us on energy.
I did read we pay the hightest prices for energy in the Western World now. Shocking
We failed to take advantage of the truly massive advantage of North Sea oil.
Well said business like mine food etc crippled by energy prices
@@housinauthority5258 Blame Thatcher for starting it all.
The Tories made it illegal for wind turbines to be added to the grid for years. Thankfully labour has reversed this, but we've lost so many years of investment.
UK specific problems...lack of affordable housing, high energy costs due to chasing net zero, low productivity and poor political leadership and strategic vision by both parties. Time to emigrate!
Thought Brexit was going to fix all that? Vote leave said it would
We already have. Much happier.
@@paulgreen7906 Lots of the same problems in Australia….
The UK is in a dire state, not aided by the self imposed financial mess of brexit and the failure to admit to it.
Just after the Labour tax hike????
@@silondon9010what? No. Its been like this since 2010
Why was the economy growing earlier this year then?
@@user-fk9mo2ld6w was it? When? For who?
@@jamespaul6315 You can literally go to the government website and see the December 2024 forecast that also shows GDP growth for this year. It has been going down since Labour took over
Every normal person in the UK knew Labour has not got a clue.
Complex problems have complex solutions. 20 years of conservative politics have only added to the complications. So yeah, reap what you sow with Brexit, innit?
All of a sudden the right wing has taken an interest in the economy they destroyed.🤦
Rising petrol prices? Oil prices are currently at their lows of the last three years. What on earth is going to happen to petrol prices when oil goes back up?
Yes it's crazy oil is very low yet prices still high. Looks like profit taking
Look at gbp/usd rates if the dollar strengthens against the pound that makes fuel more expensive for us as oil is priced in dollars. It was 1.34 in september and we’re at 1.25ish now
It’s called the “green levy•
Brexit has ruined my small on line business. We do not sell the EU anymore, this was 50% of our sales.
Many other export business are struggling.
Its Brexit start talking about it, its a failure.
Agree I run a removals business - due to the burden of paperwork and uncertainties of customs regulations, it has become too troublesome to move to the EU and we are no longer servicing these enquiries. There have been no positives of Brexit as far as we are concerned.
@@NeilLyallwould moving to Ireland make sense? Corporation tax is only 12.5% also 🎉🎉🎉❤
has ruined my business too. We do sell music memorabilia .
and yet Farage and Reform grow in popularity...
@@bigpaul4450 he's our only hope ❤️
Not called recession under Labour it’s called tough choices
THE Tories called it Austerity
@@sarahann530 or like I said it’s tough choices when Labour do it.
were you seriously expecting the country to suddenly be fine with everything working perfectly?
@delbroox were you seriously expecting a recession?
@@jamjam2833 I wasn't expecting anything, because it's too early, and attributing everything that's happening now to the new government as the interviewee said it's inaccurate. I'm expecting to see results in a year at least. I think the tough choices were necessary and a way, for once, not to lie to the public like the tories did saying always "everything's great!". If in a year or two, the economy will still be stagnant, it'll be a big let down indeed.
It’s absolutely certain there’ll be a recession next year. It’s happening already.
Labour are just crushing the economy. More taxes, inflation rising. Unemployment will rocket. Interest rates will stay high.
All because of Labour’s policies. The Tories were incompetent but the economy was growing.
Davies talks about inflation calling everywhere else but can’t bring himself to admit it is 100% because of Labour’s policies.
If you make the head of customer complaints the chancellor then what do you expect?!
@@julian987r4 l worked for the Halifax. I can tell you what her job entailed. A desk with 8 people, mostly under 25. Earning £11k a year.
Yet she still has her job, and the 'journalists' at LBC are cool with it, because they voted this lot in.
I heard it is already rotting the core of the UK
No. Recession is coming, save you money in cash and hunker down. Nobody is hiring and confidence has been shattered by Starmer and Reeves. Look also at the state of the EU. France and Germany are collapsing. The EU is dying.
Very true, I know the financial sector is shredding jobs. Worst job market I have known in 20 years.
What the former Nat West chairman fails to mention is that one of the biggest (if not the biggest) drivers of inflation is housing costs, I.e. mortgages. Cutting interest rates would reduce this cost considerably and bring inflation down. I wonder why the ex Chairman of a bank wouldn't mention that...
Yes, thank Liz Truss and the UKIPy Tories for that.
CPI doesn’t include housing costs I believe, that of course would be far to inconvenient!
@@alistairrobinson3865 it's in the CPIH data.
Service sector inflation has to come down 1st as it is 75% of the UK economy.
The BoE took too long to raise interest rates and is paying the price for dithering with higher rates.😊
@@pareshpatel7100 the problem is that the UK economy is weak, had the BOE been much stronger we’d have been in a long recession, not an easy situation
Was Howard's and Andrew's suggestion to fix the problem - essentially constrict private sector wage increases? What about public sector wages? It's not as though the UK employment market is heavily skewed in the direction of the private sector.....anything but.
The country has been going downhill since 2008. Brexit has exacerbated the slide. The Tories made things worse and the pandemic and Ukraine war compounded it. Now Labour has been shown to have little idea of how to turn it around. Oh dear....
turn around in a few weeks....14 years of mess.
@@woodcote103 nearly 6 months isn’t a few weeks 👀
@@Justin-wu4yw Handily forgetting that their budget only came into force recently and we're still having things from the tories slowly make their way through I see.
Very typical. I'm guessing you're one of those ones who was blaming labour after over a decade out of power..
Only question I have, are the specs bullet proof?
😂😂😂
I don't know,but they were probably a free gift.
When interviewed wealthy people (very often tax avoiders) insist that working people should not be looking to get a fair wage because "We are all in it together".
What are you waffling on about? You upset because you voted for this disaster of a government and CV Reeves is an economically illiterate liar?
Add in housing costs as reported in CPI(h) as in the real world where people live then inflation is 3.5% and rising….
Even CPIH is inaccurate; the OOH component of CPIH only weighs about 27%. Most people actually pay more like 40%-60% of their income on housing so the true figure is even worse than that!
@ and if you adjust that for what people actually pay inflation goes up to around 4.5%
Is he wearing swimming goggles?
😂 I thought he may have come in disguise
Mr Magoo. 😂😂😂
Yes , recycled jam Jars.
We’ve been in recession since 2008. For poor people, since 1979
Labour offered stability, they delivered stagnation.
That’s sort of stable isn’t it?
Thats what happens when you put a home help, and a woman that worked in the complaints department at a call centre, the most important jobs in the country. And those that voted for them, actually believe that they are both economics experts, and suddenly got super genius overnight. When the truth is. They are all abysmal.
But you have Sovereignty and can make your own rules now in Global Britain .
Remember people...'Woke' Covert Narcissists will all exhibit the same old narcissist traits in the comments.
Look out for Deflection and Blame-Shifting (To "Brexit!" or "the Tories!").
To avoid Accountability and Self-Awareness. Both Kryptonite to the Left.
All Leftists have a 'Covert Narcissist' mindset.
The Grauniad has been the focus of Narcissism (in Psychology), for over 30 years.
Learn why, by researching the messed up mindset.
Boris Johnson could not read an epidemiological graph, or any graph, at least Starmer defers to facts not ideology, such as Johnsonian total libertarianism and a disregard for reality! Brexit is a case in point, fantasy economics peddled by nationalistic ideologues like Patel, Rees Mogg, Johnson, Raab (had no idea about the importance of Dover), Bone, Davis (though Berlin controlled the EU), Redwood, Barverman etc!
Brexit, the gift that keeps on giving. It's no wonder the UK economy is flatlining
Amazing how we only went into recession after labour introduced the largest tax take since 1993, yeah nothing to do with that. When in doubt scapegoat brexit 😂
@@lewis123417 100 billion down a year since brexit, 2023 0.3 growth .
but the recession is all labours fault . When in doubt scapegoat anything but brexit
@fig1115 we're also going to be the fastest growing economy in Europe according to the IMF and ONS 🤣 don't want to blame that on brexit though do you?
Elon will save us
@@lewis123417 I'll believe that when I see it 🤣🤣🤣🤣🤣🤣
When all you do is make workers pay, for the profits of the bosses of the water, gas, electricity, landlords, etc., the profits of the shareholder’s . And you expect other results. WOW!!
Too bad when given the option the people of the UK voted on tribal lines for two equally bad parties instead of voting for MPs that actually care about their constituents.
Reform are our only chance ❤
@@MCDONALD6969 Reform is the Tories on steroids. They will shred the NHS and sell it off to the american healthcare industry.
@@MCDONALD6969But Brexit is your problem and you solution is more brexit. Genius.
@@MCDONALD6969 Brilliant strategy. Put the billionaires who got the country in this mess in the first place in charge.
@wynmills1481 sorry I'm not with you? What do you mean?
Reform want to help the poorest earners
LBC finally waking up.
All these cheer leaders like Marr are starting to realise Labour are totally incompetent
Imagine actually believing a possible recession is the fault of the guys who only just took the reins after over a decade of mismanagement. Tool.
@@lcg8220 Perhaps causing business to have much greater costs is the reason, Rachael messed up big time!
@@edthompson9337 Oh, you're talking about those taxes that won't come into effect until next year, and which small businesses won't be negatively impacted by due to increases in support for smaller businesses which will actually see them benefit in the future?
Just a thought but before you open your mouth maybe actually learn about what you're talking about.
@lcg8220 Business confidence is down, fact, the additional costs are coming, fact! Business plans ahead, fact, use your brain before you open your mouth!😂
@@lcg8220 Even charities are complaining about the extra costs.
Clearly you have never run a business, as you don't know they plan ahead!😂
The UK should not look at the 10yr German bund as a benchmark which is in a different league, I would rather suggest to use the Greek one, and even there is a large (and widening) gap:
10 yr UK gilt today: 4.56 %
10 yr Greek bond today: 3.08 %
Labour gone in 4.. amateurs at best....
Your choices are.
Stagnation but slightly better public services.
Siphon the middle class and sell it to private.
Or blame everything on immigration, and vote for a xenophobic 'Tories in disguise' party that have absolutely no plan nor business running a country.
Genuinely our best option now is a majority swing to liberal democrats, but as the replies to this post will show, that sways of the electorate will demonstrate their incredible lack of foresight, vacuum of humility and general incapability to think rationality.
First off...who actually still believes that any state of economy serves the common people? The rich get richer and we poorer independent of how the economy is doing. And we need to stop growth based capitalism anyway. Just eat the rich and be free on a healthy planet
Let’s get this straight, two people who have never set up or built a business think they know better than those that have. 🤔
They know less than nothing, they haven’t set up a business, haven’t taken on staff, bet their houses on the outcome, these guys know absolutely nothing about business.
When they’ve done something useful I’ll place some importance on their pontification, until then ignore them.
The guy claiming employer are giving 5% raises across the board is clearly not in the know.
They changed the way we calculate debt to fudge the numbers were already in a recession. Government borrowing is excessive that's the reason for inflation
Plus the devaluation of the fiat currency since August 15th 1971
They'll blame everyone but themselves
If the UK economy is 80% services (House of Commons Library) what is the scope for transformational growth?
Move into financial services ❤❤❤
We don't need growth.
If property prices fell that alone would improve finances for everyone drastically.
Also, if we moved people off low paying jobs (e.g. Amazon warehouse) into higher paying ones (e.g. skilled tradesman) wed also get growth. And in particular in the areas that matter (e.g. spending on the high street which raises incomes for local businesses). The same increase going to a banker in London won't have the same impact.
@@plagiarisedwords We need development and growth, more inward investment (green tech, Britishvolt fell flat) and better infrastructure, then the economy would turn around! And what would be the catalyst? Re-joining the EU!
Stagflation for 2025 if companies chase up inflation. Those public sector pay rises awarded without any productivity gains are looking foolish. You’d think we had a government with no business experience wouldn’t you.
Public sector is mostly stretched and understaffed due to years of cuts. Some staff members doing the jobs of two or three people. What more can you pull out of those people??!!
So you think business achieves productivity gains from telling its employees to be more productive? And you say labour has no business experience 😂
Was it Andrew Marr who after the election said in a celebratory mood that the adults were now in the room. Remind me of the inflation figures and other economic stats now related to those immediately prior to the election.
This time next year 25% inflation.
Yep! and then depression.
Nailed on to happen with liebour in charge
Flatlining! You wish! Inflation is on the way up, but fear not, we have a complaints expert in charge of our economy. You should be ashamed of yourselves for shrugging at this.
Plenty of Irish companies have been pivoting away from sourcing in the UK. Brexit was and continues to be an utter disaster
Who would have thought doing exactly what the Tories did and has been failing for 14 years wouldn't work.....
Who knew you can’t legislate to create growth and that increasing businesses costs through minimum wage hikes would generate inflation!🤔
Those things haven’t happened yet, you can look forward to that in April. The current problems have been created purely from the mere thought of labour being in charge.
@ the minimum wage went up 10% last April, that’s still washing through the rest of the work force as performance management reviews take place. They will also be adapting pricing and recruitment policies ahead of the budget changes they won’t leave it to the last minute.
I’m just pleased I stopped employing people directly about 18 months ago. Best thing I did.
Business is reaching an inflexion point, almost 30 years of socialist left wing policy is making the country poor. Next year will likely be worse as you say.
"Reducing costs" - lower wages for workers, and higher unemployment. No sign of investment from the wealthy classes, or improvement of management standards.
Perhaps planning changes might help us, but it seems "the workers suffer as they must" as per normal.
Increasing taxes on business and then expecting economic growth is a rather silly idea.
The tendencies towards higher inflation are plain to see. I find it intolerable that the Radio Times now retails for 4.95 GBP (having almost doubled in price during the past decade), whereas if you buy a German equivalent such as HörZu it'll cost you just 2.20 EUR. That is a whopping difference between the two countries for just one product.
i thought immigration was an economic silver-bullet?
like Brexit Lies....just politics to gain power for their own ends.
It was now its echr,leave that all cured.Great idea😂😂😂
At least that theory has been 100% disproved.
So they had better stop repeating that misinformation from now on.
Maybe controlled immigration but this government currently has no idea how many people are here contributing to the tax system.
the UK was a successful and rich county until Johnson and co got their hands on it. PEOPLE PLEASE REMEMBER.
We have about three recessions a year in Britain and have done throughout our history,,,,we are still here.
They must have known the business tax would be passed on to customers.
They just didn't care.
It's almost as if they have planned a slow destruction of Britain,or it may just be incompetence.
The UK growth has stagnated for years and let’s be honest I don’t think there is any real chance of it increasing much under any party. There is too much competition from other wealthy countries and developing countries.
Come on, if you raise the cost of doing business by increasing taxes that increases prices. It's simple economics. This government doesn't get it.
Labour’s budget for growth continues to bear fruits!
The British people voted for economic decline. And now you don't like it. Who could have predicted this outcome?
I hear the NHS is in a mess. What ever happened to that bus anyway?
Remember people...'Woke' Covert Narcissists will all exhibit the same old narcissist traits in the comments.
Look out for Deflection and Blame-Shifting (To "Brexit!" or "the Tories!").
To avoid Accountability and Self-Awareness. Both Kryptonite to the Left.
All Leftists have a 'Covert Narcissist' mindset.
The Grauniad has been the focus of Narcissism (in Psychology), for over 30 years.
Learn why, by researching the messed up mindset.
Labour need to go. Never has a gov been so bad so quick. Hypocrites, grifters, and above all LIARS.
The inflation is caused by housing and occupation costs, not clothing and petrol.
Who's having 5% pay rises still? We've been out of work or had no pay rise for five years!
If companies did give us our raises, the economy would be better because we'd have money to spend!
When you address income inequality. It happens initially. Yes, the drastic brakes on rampant immigration will lead to overall contraction, but a pick up in gdp per capita is soon to follow suit.
Where are you doing these surveys???
When foriegn companies/hedge funds own Britain, and politicians in their pocket - why wouldn't they raise prices? Who is stopping them? And that's not some Reform rant, just the default position in the UK since the 90s.
Which bit of Starmers promise 'absolutely no plans to cut the over 66's free bus pass' will be salami sliced first and then quietly 'forgotten'. Starmer certainly did not suggest extending this important scheme.
dont worry, andrew marr say's the adults are back in government
Pay raises and increasing workers spending power is the most important thing! The govt should look a incentivising employers to hire and or increase wages. One way they can do this is but issuing tax breaks i.e. corporation tax etc for employers who have hired proportionally to their revenues or have shown to increase salaries in line with their revenue generation. This will empower employers to hire and increase the spending power of employees!
We need a complete new look and shake up. More growth, more upbeat, less wasted money etc
Tax wealth not income & rejoin the EU
Let's be honest, it's been flatlining at best for 14 years.
2025 looks like being a tough year for the UK economy after the tax raising budget and rising energy costs. Very little to be optimistic about for the UK and the same applies to both France and Germany.
The west will all suffer the same fate. It's a plan.
Oh really? Who'd have thought with that ridiculous budget!
Heres the thing, the uk pound sterling needs to stay strong, its needs its value to have high buying power, the only way to strengthen the pound is to go through things like inflation, tax rises ect
Inflation devalues a currency not strengthens it.
Not sure where you get the idea of tax rises strengthening a currency either, particularly when they are combined with heavy borrowing.
Anyone who runs a business knows which way the economy is going. I've had suppliers implementing price increases of up to 9% next month. So my prices will be going up too!
There are almost 850 000 job vacancies in the UK as per November 24. Not sure what the banker is talking about. 🤔
So why is the pound to euro standing at 1.21 today when a year ago it was 1.16?
Interest rates
It was over 1.40 before the gift of Brexit that keeps on giving
When newbies enter the Bank of England offices for the first time... they can be intimidated.
Labour were newbies... and they were intimidated. This is the result.
After this Labour will never ever get back in power.
all RR needed to do, was stick some more cash in the NHS and raise income tax + NI, a little. Job done. The rest was taxing the middle classes (and thus taking spending out of the wider economy), and taxing the working classes in the form of high inflation for longer
Maybe we should follow Mileis example. He removed rent controls in BA and rental costs fell 50%. We dont have tent controls but we have even more severe intervention, we could end direct government payments to landlords. Sure some people would go homeless but Im sure the landlords would capitalate and rents would fall precipitously. Then... Inflation? What inflation? Workers could continue to be poorly paid (all cheer and clap on command) but they would suddenly have spending power. Of course house prices would fall and the fudge that is GDP would probably fall off a cliff, before rising again, pick your problem.
Laughable that his argument is that interest rate rises are due to uncontrollable wages rises - the alternative examples he gives as having low inflation - France / Germany have higher wages...
It's devaluation of the fiat currency since August 1971.
It's their job to avoid these situations.
They should hand back their wage if they can not manage our ecconmy
Stagnant economy and shrinking growth are already in the looms
Labour had to do something to improve situations fast, I always thought VAT cut. They did the opposite, with pace, without thought apparently. It's just so odd, either we are in a dire situation they do not want to explain. Or they are mad.
We think we have hurt russia with ukraine but hurt ourselves more. Its freezing and cannot afford heating.
Following the consensus of politicians, economists and other professionals has simply lead to economic decline. Continually justifying failure by blaming decisions that somehow deviate from the theoretically perfect strategy indicates they aren't living in the real world, just a model of what they think exists.
5% of FA is FA. Wages have been suppressed since 1970s. Chasing rainbows like net zero and the UKs reduction to a Service sector economy have been affecting inflation more than these commentators care to mention.
The only American who won't acknowledge this Administration's failed economic policies is Joe Biden. "Shrink-flation' is the least of our worries compared to rising rents and stagnant wages, but it is an undeniable indicator of how bad our inflation has gotten. I have $100k that i like to invest in a non-retirement account, any advice on that?
As in many other countries, including Germany and China. How do grow whennglobally consumers are worse off due to the new norm of higher energy costs?
The UK is experiencing the long term effects of Brexit with less and less levers that the government can activate to make any difference
And we were worried about Liz Truss…
It's always odds on that there will be a recession when Labour are in Gov, did anyone really think things would get better ? I know the Tories were bad, they are corrupt but Labour are corrupt and incompetent.
I honestly don’t feel like we ever fully recovered from the GFC in 2008. We have had some mini booms driven by stimulus but all the various stimulants injected into the system over the past 20 odd years have distorted things. I just don’t think the fundamentals have been right for some time in terms of Labour skills and supply, productivity, National infrastructure, public services and business investment/innovation
Feels like a very superficial economy built on the financial industry which itself is built on hyping asset values up higher and higher (property, stocks, Bitcoin etc)
Recession? We never really got out of it. Post 14 years later
Is Andrew Marr still happy that the adults are in charge?
Does Gary Stevenson agree with this
How's Brexit going?
Fine. Ask how are the rest of the EU doing.
@@julian987r4 Growing faster than the UK. Even Spain and Italy are. Where is your Brexit dividend?
So, the government's 15-year long money printing binge and deficits don't factor into the equation🤔
I think that an awful lot of it is greedflation
Brexit is too easy a reason to blame for our wows but if we look at the Euro zone then it's clear they are in a worse position. France is all over the place while german car manufacturing is in free fall.
The single negative factor we have now is interest rates which is taking money from our pockets while reducing investment
Why is Penfold being interviewed?
Labour said they have stabilised the economy according to kier Starmer 👍
Country is finished 😢