How quickly could the UK economy recover from Covid-19? - BBC Newsnight
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- Опубліковано 12 сер 2020
- As the UK economy enters its first recession in a decade, how might we start to repair the damage caused by Covid-19? Subscribe to our channel here: goo.gl/31Q53F
The UK has fallen into recession for the first time in 11 years due to the impact of Covid-19.
The economy shrank 20.4% between April and June compared with the first three months of the year.
Chancellor Rishi Sunak said the government is "grappling with something that is unprecedented”.
What do we know about the direction of recovery? And why has the UK fared worse than our European neighbours?
Business Editor Helen Thomas reports.
Mark Urban is joined by Shadow Chancellor Anneliese Dodds and former Chancellor Ken Clarke.
#Recession #Covid19 #Economy #Chancellor
Newsnight is the BBC's flagship news and current affairs TV programme - with analysis, debate, exclusives, and robust interviews.
Website: www.bbc.co.uk/newsnight
Twitter: / bbcnewsnight
Facebook: / bbcnewsnight
First recession in a decade? Because up here near Manchester it feels like we've been in a recession for the past 40 years.
Where I am it feels like the 2008 crash is still happening :I
Jacoba Velencia my city has never really prospered, every recession since the 70’s seems to drop the city to new lows, was a major fishing city. Nothing new up on the East Coast.
Greater Manchester and the North has been booming. I also live here, and I could feel the boom myself. Where are you living, underground?
I said this, 11 years ago is just out right lying 🤥
@@Peteristrate I assume you're joking, considering places like Glossop, Hyde and Buxton have seen nothing but shops close down for years. Hyde is a fucking shadow of its former self. There used to be dozens and dozens of shops in every town around here, now half of them are covered by metal shutters.
Funny that - haven't we been in austerity since 2008 anyway? Feels like the recession never ended.
i was thinking same thing
Recession just means two consecutive quarters of GDP dropping. While times have been tough during the time technically it hasnt been in recession in over a decade.
that's because it didn't. money printing and zero interest rates to paper over the cracks. to say we're now in recession is just semantics, the rich kept getting richer while the poor & middle class savers got worse off the entire time.
Just wait. In around two years time we'll experience even deeper cuts.
We've never recovered from 1990 - 1991 slump. Just coasting on dead cat bounces.
Short term: we’re screwed
Long term: we’re screwed
Conclusion: we’re screwed
How is mid term looking???
Maybe it's a good time to go to Screwfix?
Jonathan Southward With the amount of incompetence in world wide governance, I’m not terribly hopeful at this point in time.....
End of Time: We're still screwed
It's not a recession, it's a deliberately induced depression
UK Column News - 12th August 2020 ua-cam.com/video/BXIJwVQoP-Q/v-deo.html
they say it like the last recession even ended
No such thing as a recession. Government just turn on money printer machine.
It's not a recession, it's a deliberately induced depression
UK Column News - 12th August 2020 ua-cam.com/video/BXIJwVQoP-Q/v-deo.html
👁️ the more money in circulation the less value it has
@Pangolin Steak & Bat Gravy u made 200k a year?
👁️ for the last 10 years its all been done digitally, they just stick the figures into the computer.
To be a journalist must be a very depressing existence.
I guess it must be depressing when you have to lie so much...
Most of the journalists in the UK are just activists. They have no integrity.
@@davidwinters8325 They are just useful marionettes for the government/s...and useless for us....and the extent to that could be as high as 99.00%(of them)
@Bryan Davis hbr.org/1995/05/why-the-news-is-not-the-truth
It tells enough.
They're loving it. They call the shots now. Getting the government to get us to do whatever they want
I thought we were still trying to get out of the last recession.
Lol we sort of did, but the boom and bust economy never stops going into a bust and we were overdue a recession any way
We are still paying the debt of the last financial crash. Check UK Debt clock.
@@aaronsmith710 "paying", more like were still increasing our debt
We did not fall
We were pushed
Wow how profound. Someone write that down.
So the past 10 years of conservative austerity really was for nothing.
They admitted its failure themselves
Nothing to do with the party
in power; it all depends on the cycle we're in. In order for the few oligarchs to make some substantial profit, the world economy has to collapse and vice versa, every decade or so they invent a new excuse to create a new deficit; don't forget all money every country will " give" so generously to every small business or individual affected by the crisis, will fall into the bill of the so called national debt, which in turn will need to be paid back to the world bank or international funds. More taxes, increased cost of life, more university fees and mortgage interests and so on and on are a few of the ways to keep the sheep in their place. That's the reason why generation after generation the masses never really get rich, but the rich will undoubtedly become richer.
Heading into the new year, investors have to make smart portfolio moves, with the COVID-19 recent outbreak, the stock market provides an opportunity for people to get involved as various stocks will experience tumbling. It’s wise for investors to seek guidance that’ll help to easily navigate lucrative positions to earn from.
Investor should prepare their portfolio for 2021, as the stock market enters the final stretch of the year, it's worth looking back on your portfolio to consider what's still working and which strategies are at risk of falling behind.
investors should make more practical moves this coming year and seek guidance where needed since the future is unknown.
The idea of a stock market crash in the near term is unsettling, I’ve already made so much trade losses this year and I don’t know what I’m doing wrongly.
@@jackwyatt9649 Investors should anticipate the factors that impact portfolio performance and make decisions based on their expectations.
@@derrickadams8416 it's best to be prepared for that possibility of a crash, I’ll advise you seek guidance, and get a reliable brokerage for more profitable trades, the stock market is lucrative to invest in and this year has been quite profitable for me with the right guide.
The rich and the super rich won’t suffer they never do, As usual they will live off the backs of the hard working and the poor.
dont be the poor then!? Its up to you not the government to line your own pockets!
It's not a recession, it's a deliberately induced depression
UK Column News - 12th August 2020 ua-cam.com/video/BXIJwVQoP-Q/v-deo.html
🤣🤣🤣 Some rich made it from nothing. Its not there fault that people are not successful. And how are poor people hard working? Don't you think that the rich didn't work hard to get there?
Do you think this is unfair the top %1 of earners pay 1/3 of the taxes. So without those super rich you would be in an even worse situation.
@Sanity Is Freedom and the self made rich had opportunities? Some billionaires were poor before they made it. Its not there fault they made it.
Defund the BBC. Cancel your TV licence Today
UK Column News - 12th August 2020 ua-cam.com/video/BXIJwVQoP-Q/v-deo.html
@just another human spread awareness Tony rookie I think took BBC to court an won 😉😊😋😎
Tony Rookie took BBC to court an won.. 😉😊😋😎
Good job
You've ended the BBC
they do not exist now
TV is gone
every TV has been destroyed
@Cod Almighty
Still not getting it then
This government has scared the crap out of it's people and now wants everyone to go shopping just in time for Christmas, How many people are looking forward to celebrating the yule tide season this year??? My spending will not return to normal until I can enjoy shopping again as it was in the olden days.
Santa will be banned soon for some ridiculous reason. Probably racist or he weren’t wearing his mask on his rounds.
@Harry Bell Your absolutely right I need to spend more on my hedge fund portfolio and finding my 5 acres of land.
@Harry Bell So you will be doing no shopping at all ever you bloody hypocrite. Lol
Poverty is growing for years and years worse than covid ,19
It never really disappeared 🤷🏾♂️
"bUt wE nEeD oUr wEAlTh crEAtoRS tO sTAY"
2018: "we are the 5th biggest economy in the World"
2019: "we are the 6th biggest economy in the World"
2020: ....
We are world beating (he actually says it out loud and people still think he's all there).
Yeah, as if the falsified referendum hadn't damaged us for 4 years already...
We then had the government absolutely fail to do ANYTHING worthwhile to protect the people who put them in their seats.
what about 2021 with Brexit on the way? Good luck!
We are the worst economy in the world
I don’t understand why news agencies around the U.K. keep saying we have entered another recession when we have never left the first one in 2008! 😡😡😡😡
Is that the sound of the office shredder at the Bank of England Economic forecast department I hear ?
I'd expect the shredders to of been working overtime in the private central banks long ago.
Now their owners are just dancing around, watching their final victory unfold.
Great comment😁
To save money, everyone should stop paying the License Fee.
Their entire economy is property, retailing, funny banking with armies of 'recruitment consultants' thrown in.
They have no industrial base & don't manufacture anything not even toilet rolls.
UK is a international laughing stock
@@Abraham_Tsfaye where are you from?
@@davidwinters8325 This is where i live ua-cam.com/video/4iqJ8jjETGo/v-deo.html
@@davidwinters8325 Bahir Dar, Ethiopia, Africa
Already stopped.
Means absolutely nothing to working people, its been a permanent recession and millions are still suffering from the 2008 recession so another one makes little difference, there have been very few good times economically for ordinary people and when there has been a boom people end up in massive debt, inflation and asset prices go up and all of the money trickles up to the people that deserve it the least. We aren't playing this game anymore.
agreed, i am genuinelly thinking of saving as much as i can, packing my bags and moving to canada. ive been looking into it for a while
@@theo-nh6bx my mate did that he went from prison here to living in a cabin by the lake growin his own weed
@@loadapish well i hope you and your mate are both doing well
Even at the bottom of the pyramid the people who deserve it the least get more than the decent honest people just trying to get by.
The whole system rewards the least deserving and punishes the good. Top to bottom .
Neoliberal austerity policies
Can we use the word ‘unprecedented’ moderately?
It would be unprecedented for the media to do so.
This is an unprecedented turn if events
Maybe if we say it enough the people will accept more austerity during these 'unprecedented' times.
How about 'suitable proportions' instead of 'beautiful'?
Never heard the word furlough before all this. Am I not alone or am I just a bit thick?! The media loves a buzz word looks good on the headlines. Draconian measures? Never heard that shite before either!
Well that’s a surprise 🙄 What the hell did they expect by closing everything down and we are still not 100% open. Better pull their finger out and get EVERYTHING back to normal soon. They are playing around and ruining people’s lives. 😡
its a balance between saving lives in the short-term and long-term, really isnt it
@@sale9667 No its not. The UN predict that over 200 million are going to be pushed into severe poverty on account of all this (which means they will most likely die). The idea was to flatten the curve, which we did by destroying our economy and traumatizing our children. There is no plan to stop people getting it, most people will get it and be just fine. The plan was for the hospitals not to be over run. Well we did our part now how about those that are at risk and those that are scared isolate while the rest of us get on with building a life for ourselves and actually living.
The whole attitude of 'we need to save lives' is totally bogus. That time has passed.
Quality of life is important , even to those 'at risk' many would rather just live their lives and take their chances as opposed to hiding in their houses and not seeing people
My company is on the verge of liquidation. That will be 25 people who loose their jobs. It is not possible to run a company if the playing field is constantly changing.
We did our part. Now let us live.
Thats the plan!!!
@Sanity Is Freedom I guess you think Covid is all a lie then? all some elaborate worldwide ruse to put up 5G towers
you might find this interesting
www.kcl.ac.uk/investigating-the-most-convincing-covid-19-conspiracy-theories
Legalize marijuana.
The UK is already the largest exporter of cannabis in the world yet they won't sell it to its own people.
Legalization would help the economy start rolling again
ah yes, thank you for your comment.
The BBC are sure to.. legalise marijuana, thanks to your youtube comment
The misleading documentaries made by the bbc are a big part of the reason it’s only just over half the population that would legalise. In my opinion the bbc set back the legality of hemp more than anyone else in the uk. If hemp was originally banned for race based reasons, then to maintain a ban could be construed as racist. The public should do their own research around the subject if we are to progress, not rely on information from one side of the fence.
If we have to rely on illegal drugs to stabilise the economy we need to fix the economy
you are so right
😂 The elite are already making billions from cannabis and cocaine. They don’t care about helping normal people.
We need to stop agreeing to this and start saying no to the government, why are we so weak Uk step up please
ua-cam.com/video/Ia3nBuqIaFU/v-deo.html
At the minute, Germany is doing a great job at rising up, 2 million people in the streets of Berlin on the 1st Aug, today in Hamburg, last week in Stuttgart, a new protest is organised in Berlin & Zurich on the 29th Aug inviting all Europe to join...germans are taught at school how a dictatorship creeps in, how an entire population followed blindly the orders back in 1930s...they recognise it happening again. A committee of 2000 doctors & civilians is trying to voice the truth, hard when all the msm are complicit...
Ol Lofthouse they’re not weak; shame the government didn’t say no to you when you were using them to commit benefit fraud…
Ever since I lost my job during this pandemic, I have been thinking on what to invest in and it'll yield good profit 🤔
@Ismael Ethan most intelligent words I've heard
Seems Bitcoin and other crypto are overtaking the stock market in the current bull run
I am an investor in Bitcoin crypto and stock but Bitcoin has proven to be more profitable
@@alexiskayla5340 wow that's called diversifying in Portfolio
I am an investor in crypto over the years too
Printing money, I.e. a stealth tax devaluing people's wages and savings.
exactly
👏
Printing money is good as long as it is done in a manage way that maintain liquidity and velocity of money flowing through the economy. I support printing money for improving infrastructure rather than consumption.
How long? Depends on how long they think they can hammer ordinary people with outrageous taxes over the next few years
This is wheel still turning hamster dead journalism what on earth do people think was going to happen?
It's not a recession, it's a deliberately induced depression
UK Column News - 12th August 2020 ua-cam.com/video/BXIJwVQoP-Q/v-deo.html
Well said bring back common sense, 👏🏻👏🏻👏🏻👏🏻because everyone was on furlough, stupid people can pick up on things, totally stupid will say it’s Brexit, and lunatics will blame aliens 😂😂while walking around with tin foil on there heads
@@thewatcher720 Covid is not deliberate. This could have happened any time. It will happen again.
@@Daz555Daz I won't be happy until I see public hangings for this spineless and deceitful government and the rest of the traitors.
@@Daz555Daz This goes above and beyond national governments. It has been long planned and well thought out and yes, that also includes COVID-19. The virus which has yet to be isolated and proved to scientifically exist is very much a deliberate, man made part of the plan by the globalist elite. The plan has always been to create the circumstances for lockdown in order to force a vaccine/health passport/track and trace agenda. This then naturally leads to a digital ID allowing for a global digital only currency and permanent survalience smart grid run by A.I. The WHO via the UN along with the World Ecconomic Forum, Rockefeller Institute etc have been planning all this for decades. Their goal is a Technocracy ecconomy and totalitariun, A.I. run society. They call it 'the forth industrial revolution', 'the green new deal', 'sustainable development' and even 'hapitalism'. They all amount to the same thing and require a distruction of free enterprise capitalism and freedom of movement. This is a global coup d'état by the super rich 1% to consolidate their power and control to socially engineer the society which suits them.
We call it recession, friends of Tories call it business. And it's working out just fine for them.
@BigBen Smith yeah, I think I'm inclined to agree. Some countries look like they're trying to thwart the virus, while the UK just seem to be looking at it and going, hmmm, perpetual lockdown and destruction of the economy? ok.
@BigBen Smith ah, you had me until David Icke. Also OffGuardian are not entirely unbiased. But Icke is a terrible source of info and belives 5g conspiracies as well as believing the moon is hollow. I'll check out Rappaport but please be careful in using Icke as a recommendation as it discredits everything else you'll say in the same breath.
But lets keep throwing money at HS2 and Crossrail,
Don't forget foreign aid, including the 25 million to Beirut, plus the ever growing cost in benefits and housing to migrants.
And lets keep supporting those poor little oil companies.
Can't forget the McCanns case also.. how much we given them? 7 million? Was only a couple months we topped up their bank account wasn't it?
I don't think we should be making premature predictions about the economy whilst the virus is still around.
Harris hussein very true
So assuming the economy won't get fucked by most of the country being on furlough right now? I think I can predict a decent crash in the next 6 months.
What virus?
I predict a 63.25% rise in predictions in the next six months.......
@@mrfedupable what?
Recessions seem to come every 10 years.
Harry Bell Rothschilds
It's almost like they're a natural aspect of capitalism.
Jäger is bae You mean fractional reserve banking, this is what happens when money is backed by nothing
we were due a recession this year anyway honestly the media do get on my nerves. Its more like a depression
So true, the recession was coming anyway, corona just made it faster and deeper, but wasn't the root cause
recover? the worse is yet to come...
Maranatha yep vaccines if the government walk through that gate we are all dead
Well let's do something about it
True, Sunak doesn't have a magic bullet and the Shadow Chancellor is clueless. A bit of lateral thought is needed, its up to you.
After the world financial crisis it took years to get on positive quarterly figures.
Interest rates are still 2008 figures.
@@drybokes7055 actually they're even lower!
Bitcoin is the future, investing in it now will be the wisest thing to do especially with the current rise in bitcoin
I made $13,800 within 6days of trading
@@abonyievelin8739 You're lucky
I Lost $1500 trading with an unprofessional trader
Investing in crypto currency is so lucrative
@Simon Andersen You are absolutely right but we also have lots of expert, real ones with certificate and firm IDS out there waiting for investors
At least Rees Mogg has his 800 grand dividend to help him through these dark times.
I can sleep better now knowing he's alright. 1
I love how media reports on things like they had no role in making it happen
"Useful idiots", as Yuri Bezmenov used to describe them back in the 80s when he was teaching people about how communism will take over the west... I guess some ideas will never die...
Will this be another excuse for horrid economic policies or time for people and the environment to be prioritised over growth?
They’ve already implemented horrible economic polices by quantitative easing the furlough scheme.
@@Linh-rv5dg What you're talking about there is the human effect which has little to do with a prioritisation of growth. There are things like doughnut economics which do not put an emphasis on growth regardless of the human cost. This theory also points out growth is unsustainable at present and our economy is pretty much stagnating while poverty increases.
Now is the ideal time to move to a more humanist model which, yes, protects jobs but also doesn't blindly demand growth without putting that growth to good use.
For this country the crash couldn't have happened at a worse time the legacy of these ten years of austerity is that they have ultimately been for nothing. We didn't even experience a boom before this bust. So by all means, let the government invest in its people and economy like Keynesian economics has suggested is the remedy.
I would respect this abandonment of such harsh ideology.
End the BBC licence fee, an evil propaganda tax. People cannot afford it.
UK Column News - 12th August 2020 ua-cam.com/video/BXIJwVQoP-Q/v-deo.html
ua-cam.com/video/FU3OibcindQ/v-deo.html
Don't pay it anyway lol
And after December 31st, the shit is really going to hit the fan
Remember the days when Britain wasn't in recession? No, me neither.
Oh yeah, and we go full Brexit in a few months too. Man we're fucked...
MY GOD - she's a terrifying apparition ! My kids just ran screaming in terror from the room.
They'll tease you with a few good periods, you know how it works.
I reckon they get the shadow chancellor for a bit of comedic light relief 🤣
The tories think the UK ends at the Midlands...
I live in the Midlands and I'm not even sure they remember this place exists
Correction at the M4. North of, needs those good ol' work houses instead of funding lay abouts and the work shy.
people who appear at 0:37 look familiar
"Retraining and re-skilling" is a classic Tory book of blaming the unemployed for being unemployed. If the amount of jobs in the UK economy goes down by a couple of million that when individual people have new skills it doesn't increase the total amount of available jobs in the UK economy.
The only way to solve unemployment is to increase the amount of jobs in the economy. Obviously people need the right skills, but that condition is already satisfied.
I understand training courses are a useful statistical tools, because if someone is on a training course to watch paint dry, then for the length of that training course they are not included in the statistics of unemployed. Which doesn't mean they are not unemployed. There are just so many statistical games governments play to keep statistics down, and this is one of the main ones.
The governments plan needs to be focused on increase the total number of jobs in the UK economy, not sending people on moronic training courses.
Thank god you are woken up
The government cant create jobs, they can only create the conditions that allow the private sector to create jobs.
T0mm3n - the 1930s new deal would like a word!
@@T0mm3n dude they can , they should start with nurses , paramedics, doctors, carers etc.
@@emotionalsupportostrich2480 👏👏
I love living through my second "once in a lifetime recession" before my 30th birthday :)
I’m not sure what they’re on about ‘falling back into recession’? From where I stand we’ve not yet climbed out of the last one!
The key elements cause recession:
- Politics
Parties care about votes.
No long term developing plans can be designed.
Conflicts between nation interests and personal political interests.
Ideology is like cancer disease, deeply inside most politicans and mainstream medias.
- Education
Public school and private school have huge gaps. why?
Benefit system? Happy education? Vicious circle? etc
- Healthcare
NHS? long wait kills. over capacity? no effient or waste?
- Economics
High benefits require high tax incomes.
Little business hard to survival, 20% VAT(5%FOR 2020 WILL HELP LITTLE) plus 19% Cooperation tax plus employees' NI, ER, EE TAX, PLUS Nest pension tax, plus business rates etc
High street dying for sure.
Working more not equal earning more.
Heavy income tax, caused lots people instead full time working rather staying home act unemployed for benefits.
In order to have GDP grow every year, minimun wage rate increased every year.
As individual, can you have the benefit? NO.
Minimun wage rate increase, Cause CPI (Cosumer Price Increase), Supermarket products more expensive, the increased part havs to pay for daily goods. But Gov can have more tax.
- there is still some other sectors, you can leave your comments.
-
*You are confronted with a mighty recession, what do you do?*
A: _Use a historically successful strategy of raising taxes on the richest citizens and making big investments to stimulate the economy_
B: _Starve the economy of investment whilest cutting taxes on those that need it the least_
...
Conservatives: _Let's try B again!_
Dungeon master: _REALLY?_
Since I've been alive (
Genuine question from somebody that is not au fait with the financial markets. Does this mean that my mortgage non fixed rate payment is going to increase wildly?
This is at the door of the media. We know where to come when we get hungry.
Oh yes, I’m looking forward to the show trials already......
BBC are quoting the obvious how stupid are they! They were already told BBC scaremongering at its best
If my calculations are correct, we are falling into recession once every decade, meaning 2030 will be yet another sh*tty year for us. Hopefully by then we will have a good government.
Legalize cannabis and get the damn thing taxed.
Big shout out to poley and shippy
her name is monica
Hate Amer
It should get better in the cities because the inhabitants are crawling all over Cornwall . Thanks for nothing Boris.
It was already in a recession from Brexit anyways...
wish i could sell my pine furniture, just had bad news today ,im partially disabled and ill health problems yet not entitled to pip, so need to sell everything, going to appeal against dwp in court.
They have been throwing us off government support since it began. While throwing government support at people like Pakistanis etc to breed on.
Welfare was not set up for our benefit, it was set up to destroy us by paying others to breed us out of existence while the jobs we rely on get destroyed over and over again. We are being exterminated by our own government.
NO RECOVERY FOR YEARS, AT LEAST 2025!🤨🤨🤨🤨
They'll have completed the reset for 2030
@@simonmorgan225 BRING THEIR NEW DIGITAL SLAVE SYSTEM!🤨🤨
I admire your optimism hendo sadly we have never seen the likes of this in living memory and this recession will be a good two decades in recovery. Just the job losses in the lead up to Christmas will sadly make the damage all to clear for all to see.
Brexit is coming.
I don't think so.
They never ever were going to give us Brexit.
@@GravityBoy72 sad but true
No they'll give us a sad compromise that will please no one.
GravityBoy72 so what.
what you talking about? we are currently in the transition, brexit happened at the beginning of the year and we have this year to transition.
Wait, we came out of the last recession? I didn't notice. While politicians gave themselves 8 payrises in the last 10 years the rest of us didn't notice any significant improvement. This whole situation has given the Tories a blank cheque to do whatever they want and claim it's because of covid. And they will.....
LEGALISE WEED
It's going to become a depression
Save money and open a pub after pandemic ends, you'll probably be the only one in your area and make a fortune.
thats nice i never noticed the last recession ended
You will not die from COVID-19 but Fear and hunger will disappear human from this earth. Please don’t destroy this country
It the flu🤒🤧
And a tiger is a cat. Doesn't mean you want one sitting on your lap.
@@4squaremiles no but a tiger is real and cov is rubbish born out of the desire for a plandemic, baa ba ba that's what you would say if you saw a tiger lol
@@desmondalloffo7915 I mean, aside from all the deaths. Right? Or are they all a conspiracy that literally everyone is in on, but somehow no one will ever reveal, making it the most competent operation ever conducted in human history?
@@4squaremiles the vast majority of deaths are over 80.
Maybe because they were refused treatment and even if testing positive sent back to care/nursing homes.
Heads should roll.
When was the last time the flu almost killed the PM?
2003, 2008, 2017... the hits keep on coming for gen x.
what happened in 2017?
SOON AS cLARKE CAME ON!! lol IM gone !
Two thirds of the population of the UK live from hand to mouth. I doubt they will have noticed much difference.
I wonder how the Tories will make THIS one Labour's fault.
Where does the money come from?
We started recession since 2018 but did not announce. We need up to 10 years to recover.
Perhaps not a technical recession but 10 years of deflation affects households. GDP is no longer an accurate indicator of economic health during a time of growing inequality in the UK. Household debt is unsustainable and that is the real concern.
I thought Duncan Bannatyne would have a bigger spare bedroom
Every used car site we have here frequented by retired people. Nothing changes for them, same existence, guaranteed money in the bank. Ignorance is bliss
The comments about the last recession having not ended is absolutely true. Sadly, we have a generation of kids who have been born and brought up in these times and schools are seeing more and more kids from troubled and/or disfunctional households. It’s called the ‘austerity generation’.
First recession in a decade?! Trying to make it sound like that's a success are we? Like 2 recessions in 30 years isn't fucking insane?!
Need to look after our own first
thought it happened in September last year
👏
I didn't know the last recession had ended..
How could this not be far, far worse than the 2008 recession? Thinking that this will a quick bounce back is simply not logical. We've just got to brace ourselves.
Why do BBC news presenters/narrators speak in a tedious, slow depressing tone.
all the people gonna be looking back at this after the transition period is over thinking why didn't Boris appeal to extend it
Been paid off from my job the industry I worked in (oil&gas) is on its knees and can’t get work anywhere. The world is now fucked
Worst is yet to come. Taxes will go up in England.
Scotland, Wales, NI are always poor. People will realise the real impact in coming months.
Im terrified. I graduated in 08 wwnt tgrough the resession by movibg abroad i got back laat yeae now this. I dont wabt to have to move abroad qgain
Cold weather on the way and i hate to think what next year will be like.The UK is finished and England needs a Government of its own.
Don't give the incentives to the company's, they will just keep it! Give the incentives to the workers, then it will get spent and start the economy moving again.
"a nation of sweatshop keepers" napoleon.
It was just 'shopkeepers'
Every industry was a sweat shop during the industrial revolution.
5:28 this guy wearing boat shoes
Oldham is in Greater Manchester so already in lockdown?
Yea
I feel your pain Brits, the US economy has shrank to the same size it was in 2016
Everyone watch 'the fall of cabal' 3 hour documentary on youtube and then see how you feel about the world lol. I think it's just time we all stop listening to any big media and just focus on not being forced into a mindset of fear. Question everything,.
Lower the taxes that's what is pulling people down and try to make the country competative. These are the only thing that will increase people's spending power that can help UK regrow it's economy.
If all the MP's took a pay cut amd that money was spent to help the economy then we'd recover very quickly.
the hole world is in same situation, not just the UK,
Time for shoe to be on the other foot.
I mean austerity measures
First recession in decades, well can we have that recession back then, was definitely better off 10 years ago lol