On my quip there, many may not know this, Rachel went to an independent school for Girls in a prestige English county. Yet wants to put VAT on the fees of these institutions for no benefit at all to hard working families that just want to send their children to a good school.
@@METALFREAK03, this is another bone for the dogs still clinging to and fighting the Class War of the '60s, like the fox hunting ban. They don't do that because the comrades care about foxes but because the workers don't take part an see it as a Posh boys sport.
I run a small 15 person service company (ie services = not tied to a location through plant, machinery, or clients) in London. The people I know in my market who are similar to me 10-50 staff, around one third are today executing on plans to relocate we had all pre prepared. It’s partly this budget, but it’s mostly the next one, and the next one. We know this isn’t the end of the squeeze it’s the start
If your business can't afford a small rise in rates... maybe you're a terrible businessman?? Why do workers always have to pick up your tab. You're not owed a successful business. Pay your way and do a good job, stop crying about it and acting like we owe you an apology for wanting this country to benefit anyone except mouthbreathing business owners...
Well you will have to pay the price for leaving too - to a less dynamic environment (unless you move to New York or Shenzen - Shenzen anyone??). To participate in the UK market you have to pay your taxes and contribute to the fabric and infrastructure of the country where you use their services - otherwise you won't be considered a stakeholder or investing partner. Basically you'll be moving to a more irrelevant location just because you don't want to pay taxes.
@ only circa 20% of my clients and 14% of my revenue is from the uk. So we are mostly bringing in overseas money to the uk economy, and all our costs are in the uk, and all my employees are in the uk, and all the taxes I pay are in the uk. I’m only here because I’m British and a patriot, my business interests/clients/etc are basically overseas. It’s this set up that Labour don’t seem to realise can easily leave, and not just for taxes. It’s small, essentially overseas, businesses, who chose to base themselves here & employ people and pay taxes here, but know when they’re not wanted. So they leave
It’s a nightmare, we are a community interest company and this budget may just kill us off as the estimated 90k additional cost that we cannot pass on to our vulnerable clients. As a working single father just can’t see how this helps at all.
The NI threshold dropping to 5K and rise in minimum wage is going to see unemployment rise massively. I run a small business that employs only 5 people and this measure is going to add around £20k to our NI obligation. We’re not going to be able to afford pay rises and will probably have to make someone redundant in the new year. There’s around 5 million companies in the same boat.
Apparently, half that, companies closed when they heard the budget. I wonder if you set up your company in the caymans, would that circumvent all these hikes? It's probably based on where you do business I guess. But this out of the box thinking plus a global world we now live in, I bet companies will just skip this alltogether.
It will grow their own personal wallets with bribes from monopoly corporations. And with the government subsidising the wages of the staff in these companies it means the companies can get away with minimum wage and making it seem good. Meanwhile, the government has decreased the value of the £. So the wages never actually changed.
Sorry but you cannot EFFICIENTLY spend that amount of money on infrastructure in 3/5 years in the public sector. The Public Accounts Committee said it takes roughly 11 years to build a hospital start to finish and almost always ends over budget. - If you allow the private sector to keep more of its money they will either spend it or invest it. If they invest they have an incentive to get results quickly. - If you give money to the public sector to "invest" they have no incentive to get it performed on time or on budget. If anything with some projects the project completing means senior people will not have a job. And sorry, I will not be cheering my pint being £6.49 not £6.50.
Why the hell did they give 1 penny off a pint????? Saving 5-10p on a night out is not going to make any difference to the public but will cost the government £85 million a year, which could have gone towards the roads, schools, or NHS.
Set against an increase in non-draught drinks, it's still going to raise tax overall on alcohol. And given the damage to the pub trade that banning smoking in outdoor areas will do, this is a sop to lessen the blame when hundreds more pubs close for good. The consequent tax loss from the smoking ban will be many times more than £85m.
I find it hard to listen to Michael Gove who put socialist policies in place and was part of why we have this Labour government. His war on landlords is one case in point.
"Starmer's brand" was ruined for me when he was dancing at Taylor Swift concert two weeks after the "christian choir boy" hacked to death the little girls at the Taylor Swift dance class. Such a lier.
Cant take Spectator seriously with Gove there. Tories blew an obscene amount of debt on COVID, raised taxes to record levels and were generally useless. Labour are a bit worse.
No one knew how dangerous the " China virus " was. They were following orders to lock down. Scientists orders actually 😮 They did their best but the pp contracts and matt 😮😮
Why on Earth does Labour squander its huge majority on such a mediocre budget? I have had enough of these same old, same old, clueless career politicians.
"What do you think Rachel Reeves wants the message to be?" The designer of the budget had clearly been instructed not to beat about the bush. "Make it evil," she'd been told. "Make it totally clear that this budget has a right end and a wrong end. Make it totally clear to anyone standing at the wrong end that things are going badly for them. If that means sticking all sorts of spikes and prongs and blackened bits all over it then so be it. This is not a budget for hanging over the fireplace or sticking in the umbrella stand, it is a budget for going out and making people miserable with."
I'm not an economist, but neither is Rachel Reeves. My impression is Rachel has wasted an opportunity. Growth is important because like compound interest it grows every year. Doing nothing for growth is wasting a years growth. Giving more money to the NHS before it is reformed is also foolish. The money will be absorbed into the current leaky system with no improvement to services. For example I would bin all DEI in the NHS. That will save quite a few million and a lot of time wasted in training etc. My wifey is a white nurse in a large Hospital Theatres department and she is the ethnic minority and has been for most of her career. Why do they need DEI? What a complete waste of taxes. Notwithstanding the old question; if your loved one was going to be operated on which surgeon would you want to perform the operation? The best one interviewed for the role, or the DEI candidate? If the NHS were better run they could easily save 10% or more of their budget.
So let me get this straight: 1) Labour have given inflation busting pay rises to NHS staff and want to increase its budget. 2) To pay for this, they are rising NI on employers. 3) The NHS employs 1.5 million people. 4) So Labour are charging the NHS more NI which comes out of the NHS budget...so they can increase the NHS budget... Makea sense...
The OBR aren’t being “tough” on Labour with their growth forecast. They’re managing expectations. When growth is even slightly higher than the anemic projection, Labour can claim to have exceeded expectations.
Pre election, the Labour's plans already was known to be a £20 billion overspend yet Kier Starmer said himself, there would be no tax rises. Rishi was possibly right to say that you would be £2000 worse off under Labour. Now we have got a £40 billion tax hike.
This budget didn't target the wealthy as some suggest, it targeted the average employee worker - lower stamp duty allowance removed, freeze on personal tax thresholds and the really big one IHT allowance frozen for another 2 years and pensions now in IHT, plus another big one increased NI for employers will lead to reduced wage growth and redundancies - a grotesque budget, oh and the biggest capital gains tax increase for those on lower incomes - cant have people doing better for themselves can we?
Can’t even put into words how much it irritates me when political types use the thumb gesture, it just tells me you’re so incapable of communicating with normal people that you’ve had to have training by someone else as equally incapable.
I have never voted Labour, but after Tories killed BTL and IT Contracting, Im sorry, but Labours budget is far more to brag about than the previous idiots.
All these changes badly needed to happen. The Conservatives were gonna keep the old and rich happy, but they’ve been hoarding wealth and affecting the housing market too much for too long. These are quite moderate measures. If the elderly do want to help their kids, enough virtue signalling, pay into the system and help out. Capital gains, needed to raise. We can’t have people with multiple homes, you can see how that prices for example Cornish youngsters out of homes. We can’t have an elderly just raising and raising their wealth and not sharing, that’s not helping anyone. We can’t have employers dodging NI payments, this isn’t gonna make philanthropists out of employers, it’s just gonna make sure they actually pay in. None of my previous employers contributed to NI. Zero.
Full socialist budget, they have to borrow to stimulate growth...in the public sector. No private sector company will invest based on the taxation laid out.
I'm fascinated by how Gove has so utterly failed and how the Spectator has lost so much with the handover to the irrelevant GB news guy. The Fox model works in the US where the population is 300 million, it won't work in the UK. The radical libertarianism trend has bucked. Gove's candidate Kemi is out of the Overton Window. The ideology has lost the argument - it's not better for the market. If I was Katy Balls - I'd jump ship. Charles Moore can't moor no more. He is a very intelligent man but is very old now and has never ever really nailed the problems and provided any interesting solutions to them which is what the Tories actually need right now (the woke stuff has nothing in it and Thatcher doesn't provide any solutions to this current political situation). The old spectator, the sinking ship. Sad really.
I'm sorry but I think a lot of employer Brits should stop moaning and start contributing to infrastructure - infrastructure they use everyday and take advantage of e.g. roads and even cultural infrastructure - such as good colleagues that they can work with because of the education and health systems. This is the backbone of GDP !! Give and thy shall receive and all that!!
Gove should be in prison for corruption and fraud. Why is he still at large? And the lady from the dodgy think tank again, isn’t she? One thing positive out of this video though: more people can see what a scam the spectator really is.
Any talented entrepreneur with capital will go elsewhere. It’s up to business to create growth and not big socialist nanny state Government. I expect the exodus to continue and speed up and for the decline to continue. Look at UK stock market compared to US. UK has no serious leading innovative big companies. UK just doesn’t understand and has no serious future. Get out of there.
Best budget for decades - shades of Denis Healey's "tax the rich until the pips squeak"! Whingeing entreprenuers are welcome to leave the country as they wish.
This budget didn't target the wealthy , it targeted the average employee worker - lower stamp duty allowance removed, freeze on personal tax thresholds and the really big one IHT allowance frozen for another 2 years and pensions now in IHT, plus another big one increased NI for employers will lead to reduced wage growth and redundancies - a grotesque budget
The bottom end of society is really struggling economically. There is bound to be a redistribution downwards. Fair enough is it not? Taxing private education is a mistake for middle England though. This should have been means tested, as should winter fuel allowance. Easy enough with the precedent of child benefit.
@@lakedistrict9450 and who pays for all the striving up children who will now be forced to drop out if private education and enter state schools ... Oh wait .. the tax payer!
If the endless tap of mass low skill immigration was turned off wages for the 'bottom end of society' would have to rise massively if the jobs are essential. Government spending would fall as fewer households would receive benefits
Very disappointed that you give airtime to this airhead Mr. Gove. What sort of review is this biased utterance from a representative of a failed rep of the con-government? A backstabbing posh MP that is great at talking biased selfish sentences. That’s me having enough of listening to The Spectator.
That was really nice of Labour to tell the British public: If you want a better NHS farmers are going to have to pay for it! If the British public truly want a better NHS everybody should have to pay for it. Just be honest. Increase the tax allowance to £15,000 and put everyone’s tax up by 5%. Basic rate to 25%. Higher rate to 45% and top rate to 50%. That way we are all in it together. Destroying the farming and pension industry to ensure grandpa gets a quicker hip replacement seems a high price to pay.
Moan moan moan. The Conservatives also brought the tax take to record highs. Yet little mention of that or the disaster for public services the last 14 years has been. It was either raise employer NICs or increase some other kind of broad base tax, which is politically more difficult. Tbh I don't really care which. People on this channel seem to be obsessed simultaneously with balancing the books and yet don't want to raise taxes and don't want to cut or freeze the largest spending departments (NHS, pensions). Oh and cue those blaming migration for all our budge woes.
Michael Gove, a man of questionable values who gave us Brexit (well done mate); Kate Andrews, 9 years work experience in right wing think tanks and journalism who represented the IEA neo-liberalist think-tank funded by corporate dark money to lobby for right wing policies; Katy Balls, 14 years work experience in journalism, no private or public sector experience and has had two jobs (The Telegraph and Spectator). Why would you listen to any of these people? Only because they are good at talking. Certainly not for their experience or what they say.
Judging by how angry Sunak was at PMQ, I'd say the Tories are going to have to eat an enormous slice of humble pie. People have a lot of deference for the Conservative Party that they're the party of economic competence but that is very much in question now given Reeves' work. If her budget was bad - the market would have reflected that, as it did with Truss, but it didnt - therefore the ideology underpinning the economic strategy in the past was not supported by the market. In that sense Kemi has already lost the argument by the market not crashing. Her solutions will not be a better alternative to this government's approach. I wish Tugendhat was in the running. He was your best candidate hands down. A good man to compete with the good that is coming from the current government. A baddie can't do it - there's no more traction in it. The worm has turned...but the Conservatives can't see it. Sorry Gove - I think you might be out of another job. Perhaps the Liberals are the effective opposition now.
Supported by the markets?? Gilts tanked this afternoon once the OBR's report on the budget came out. That means that interest rates will stay higher for longer. The OBR's report states that everyone in the country will be will be worse off after this budget and that it will be a major drag on growth. Sunak was absolutely right in his dismantling of it.
@@catherinethomas1276 I'm sorry but it's the truth. Birth rates are too low because of of underinvestment in the wider population - that means more immigration and less tax payers, our consumer power is low (the top percentile of the population don't buy consumer goods in bulk which is how you boost trade deals with countries such as China and the US - what we lost by being a partner of the EU trading block), the fact is that unless automation kicks in, which it hasnt, top companies are still dependent on human labour which shouldnt be sick (so hollowing out the nhs was a really bad economic idea).... The Conservatives have lost the economic argument, not to mention the moral one (if that even matters to them but does to the market.)
@@lautreamont808 I think you have either a fundamental misunderstanding of what the OBR are saying or are just blinded by bias. This is a terrible budget, even Labour MPs hate it.
One of the great minds behind the fantastic Liz Truss budget and a guy who run this country into the ground and turned it into the worst performing G7 economy will now share with you their wise thoughts on the economy 😂 You have to admire people with such lack of self awareness 😂😂
If the spectator squirms, then this is a good budget thatll actually benefit the country. Look at where we are after 14 years of the spectator cheering on our decline
I think it was a good budget. It’s nice to see the show on the other foot with the wealthy picking up the tab rather than the tories hitting the masses and protecting their mates
We were warned this would happen ,Starmer told lies and the sheeple fell for it
I have a very depressing vision of Britain's future.
A spiteful budget to farners and private schools as well as poor pensioners and the majority of the proletariat.
Most private schools in London for instance are filled with Russian and Chinese children
Starmer's brand is trashed, he's made so many mistakes and has been deceitful, people really dislike him now...after less than 4 months !!
Dislike = HATE
if you want growth, the last thing you do is RAISE TAXES.
Shhhh....doesn't fit the narrative.
I am assuming Rachel thinks as raising tax is a positive thing as it says the verb "raise".
This is why we need independent schooling folks.
On my quip there, many may not know this, Rachel went to an independent school for Girls in a prestige English county. Yet wants to put VAT on the fees of these institutions for no benefit at all to hard working families that just want to send their children to a good school.
Government spending counts towards Gdp and they are going to borrow and spend
@@METALFREAK03, this is another bone for the dogs still clinging to and fighting the Class War of the '60s, like the fox hunting ban. They don't do that because the comrades care about foxes but because the workers don't take part an see it as a Posh boys sport.
I run a small 15 person service company (ie services = not tied to a location through plant, machinery, or clients) in London. The people I know in my market who are similar to me 10-50 staff, around one third are today executing on plans to relocate we had all pre prepared. It’s partly this budget, but it’s mostly the next one, and the next one. We know this isn’t the end of the squeeze it’s the start
That's exactly what I think. This is just the beginning ....of the end
If your business can't afford a small rise in rates... maybe you're a terrible businessman??
Why do workers always have to pick up your tab. You're not owed a successful business. Pay your way and do a good job, stop crying about it and acting like we owe you an apology for wanting this country to benefit anyone except mouthbreathing business owners...
@@JT-nr2ssI see the bots are out in force.😂
Well you will have to pay the price for leaving too - to a less dynamic environment (unless you move to New York or Shenzen - Shenzen anyone??). To participate in the UK market you have to pay your taxes and contribute to the fabric and infrastructure of the country where you use their services - otherwise you won't be considered a stakeholder or investing partner. Basically you'll be moving to a more irrelevant location just because you don't want to pay taxes.
@ only circa 20% of my clients and 14% of my revenue is from the uk. So we are mostly bringing in overseas money to the uk economy, and all our costs are in the uk, and all my employees are in the uk, and all the taxes I pay are in the uk. I’m only here because I’m British and a patriot, my business interests/clients/etc are basically overseas. It’s this set up that Labour don’t seem to realise can easily leave, and not just for taxes. It’s small, essentially overseas, businesses, who chose to base themselves here & employ people and pay taxes here, but know when they’re not wanted. So they leave
Perfect your skill set and move to where the opportunities are.
There is no future in Britain. You will be taxed into serfdom.
I think you are correct. It’s all about tax and spend and borrow to give it away and for what?
Hayek warned us back in 1930's of the Road to serfdom you should listen to the audiobook or read the book. It's amazing.
@@ScottM-h8k They also steal by printing more money. This devalues your savings and the £.
It’s a nightmare, we are a community interest company and this budget may just kill us off as the estimated 90k additional cost that we cannot pass on to our vulnerable clients.
As a working single father just can’t see how this helps at all.
The NI threshold dropping to 5K and rise in minimum wage is going to see unemployment rise massively. I run a small business that employs only 5 people and this measure is going to add around £20k to our NI obligation. We’re not going to be able to afford pay rises and will probably have to make someone redundant in the new year. There’s around 5 million companies in the same boat.
Apparently, half that, companies closed when they heard the budget.
I wonder if you set up your company in the caymans, would that circumvent all these hikes? It's probably based on where you do business I guess.
But this out of the box thinking plus a global world we now live in, I bet companies will just skip this alltogether.
Silly people it’s a NO GROWTH budget.
It will grow their own personal wallets with bribes from monopoly corporations. And with the government subsidising the wages of the staff in these companies it means the companies can get away with minimum wage and making it seem good. Meanwhile, the government has decreased the value of the £. So the wages never actually changed.
Inflationary taxes combined with record borrowing. Recipe for disaster.
Sorry but you cannot EFFICIENTLY spend that amount of money on infrastructure in 3/5 years in the public sector. The Public Accounts Committee said it takes roughly 11 years to build a hospital start to finish and almost always ends over budget.
- If you allow the private sector to keep more of its money they will either spend it or invest it. If they invest they have an incentive to get results quickly.
- If you give money to the public sector to "invest" they have no incentive to get it performed on time or on budget. If anything with some projects the project completing means senior people will not have a job.
And sorry, I will not be cheering my pint being £6.49 not £6.50.
But big projects do allow politicians a photo op as they are announced or the first sod gets cut. And that's what counts!
You have just explained why Communism is without exception always a disaster... but still they keep on trying... !
Prepare for more even financial disaster resulting in a death spiral of ever increased debt and taxes.
Why the hell did they give 1 penny off a pint????? Saving 5-10p on a night out is not going to make any difference to the public but will cost the government £85 million a year, which could have gone towards the roads, schools, or NHS.
Set against an increase in non-draught drinks, it's still going to raise tax overall on alcohol. And given the damage to the pub trade that banning smoking in outdoor areas will do, this is a sop to lessen the blame when hundreds more pubs close for good. The consequent tax loss from the smoking ban will be many times more than £85m.
Keers beers
@@Dubwiser-oi9bw because of the discount, drinkers will be drinking more, so more tax lol
Time to leave Britain now.
The Dream has died.
Rapidly, tragically and completely
Welcome back to 1976....😢
Another depression 😮
Should we put in the call to the IMF now or later?
And that was hellish I was a child but remember the stinking garbage everywhere from refuse worker strikes amongst others. My parents tories.
@@catherinethomas1276 76 was better in order ways
This budget simply doesn’t make any sense but if you don’t have anyone with business experience in the cabinet that’s not surprising.
Raising Employers Nics is a complete disaster.
Rises up and growth down
I find it hard to listen to Michael Gove who put socialist policies in place and was part of why we have this Labour government. His war on landlords is one case in point.
"Starmer's brand" was ruined for me when he was dancing at Taylor Swift concert two weeks after the "christian choir boy" hacked to death the little girls at the Taylor Swift dance class. Such a lier.
What? So nobody should dance at a Taylor Swift concert ever again?!
That was cringe
@@rezwhap no
Cant take Spectator seriously with Gove there.
Tories blew an obscene amount of debt on COVID, raised taxes to record levels and were generally useless. Labour are a bit worse.
No one knew how dangerous the " China virus " was. They were following orders to lock down. Scientists orders actually 😮 They did their best but the pp contracts and matt 😮😮
And how would you have handled Covid? Labour wanted to spend more at the time.
@@Sandbar1914 and lock us down for 2 years straight.
Why on Earth does Labour squander its huge majority on such a mediocre budget? I have had enough of these same old, same old, clueless career politicians.
Because unelected quangos are the real ones in charge, such as the OBR & BoE. As Liz Truss can testify to when she tried to ignore them.
Get rid of the triple lock. It's ridiculous.
"lowest rate among G7 countries in Europe", so not the lowest rate among G7 countries then.
Thank you for this presentation. Very interesting.
That said, there is no inheritance tax in Australia so my dual nationality might prove handy.
I like Michael Gove
"What do you think Rachel Reeves wants the message to be?"
The designer of the budget had clearly been instructed not to beat about the bush. "Make it evil," she'd been told. "Make it totally clear that this budget has a right end and a wrong end. Make it totally clear to anyone standing at the wrong end that things are going badly for them. If that means sticking all sorts of spikes and prongs and blackened bits all over it then so be it. This is not a budget for hanging over the fireplace or sticking in the umbrella stand, it is a budget for going out and making people miserable with."
This is an absolutely legendary reference
“You’ll own nothing , and be happy”
I'm not an economist, but neither is Rachel Reeves. My impression is Rachel has wasted an opportunity. Growth is important because like compound interest it grows every year. Doing nothing for growth is wasting a years growth. Giving more money to the NHS before it is reformed is also foolish. The money will be absorbed into the current leaky system with no improvement to services. For example I would bin all DEI in the NHS. That will save quite a few million and a lot of time wasted in training etc. My wifey is a white nurse in a large Hospital Theatres department and she is the ethnic minority and has been for most of her career. Why do they need DEI? What a complete waste of taxes. Notwithstanding the old question; if your loved one was going to be operated on which surgeon would you want to perform the operation? The best one interviewed for the role, or the DEI candidate? If the NHS were better run they could easily save 10% or more of their budget.
Gove, lover of lockdowns and green claptrap. What's he doing here?
NHS public sector pensions. That's the needed reform.
So let me get this straight:
1) Labour have given inflation busting pay rises to NHS staff and want to increase its budget.
2) To pay for this, they are rising NI on employers.
3) The NHS employs 1.5 million people.
4) So Labour are charging the NHS more NI which comes out of the NHS budget...so they can increase the NHS budget...
Makea sense...
The NHS is a public employer, none of which pay NI for precisely the reason you reference.
BTW the number of employees is irrelevant anyway because it's pro rata, obviously.
I thought NI increases for the nhs and all other public employers is ring fenced and will not be increased?
@@MarkT-e8x The NHS is a public employer, none of which pay NI for precisely the reason he references.
The staff don't pay into NI either. They are paid net. NI - NI = zero.
It's about expansion of and farming the public sector for votes and increasing control of the economy and teaching us to know our place. Period.
The OBR aren’t being “tough” on Labour with their growth forecast. They’re managing expectations. When growth is even slightly higher than the anemic projection, Labour can claim to have exceeded expectations.
Pre election, the Labour's plans already was known to be a £20 billion overspend yet Kier Starmer said himself, there would be no tax rises. Rishi was possibly right to say that you would be £2000 worse off under Labour.
Now we have got a £40 billion tax hike.
1p is a bloody insult.
This budget didn't target the wealthy as some suggest, it targeted the average employee worker - lower stamp duty allowance removed, freeze on personal tax thresholds and the really big one IHT allowance frozen for another 2 years and pensions now in IHT, plus another big one increased NI for employers will lead to reduced wage growth and redundancies - a grotesque budget, oh and the biggest capital gains tax increase for those on lower incomes - cant have people doing better for themselves can we?
NHS will have to pay 1.6 million extra employers NI plus the pay settlement which leaves very little to improve service!
The private sector taxpayer will be funding it.
Public sector is exempt apparently.
Public employers don't pay NI.
Interested to know what the alternatives are to the tax, borrow and invest budget?
''Sorry to interrupt the show''. Why do it then? Put the ad at the beginning and we can start the vid later.
She cut any rubbish waste spending ?
Couldn't you have had someone on to provide balance?
@@MaximilienRobespierre1 surprised to see you here max
Can’t even put into words how much it irritates me when political types use the thumb gesture, it just tells me you’re so incapable of communicating with normal people that you’ve had to have training by someone else as equally incapable.
Hahaha, what growth is that then? There has been none over 14 years so presumably it will now shrink you’re saying? We shall see then
It’s a budget that destroys aspirations. What idiot is going to start a business in the UK.
Michael Gove on 'trust overall'.
Another bloody mess
Michael Gove is the reason I will never, ever give the Spectator another penny of money. Can't stand him
Your loss
Not really! Gove is a complete tool
Agreed
What's your dislike of him got to do with the pointe he is making?
Why ?
Lol low growth.. you mean negative growth!
How many jobs will this budget eventually cost?
I have never voted Labour, but after Tories killed BTL and IT Contracting, Im sorry, but Labours budget is far more to brag about than the previous idiots.
All these changes badly needed to happen. The Conservatives were gonna keep the old and rich happy, but they’ve been hoarding wealth and affecting the housing market too much for too long. These are quite moderate measures. If the elderly do want to help their kids, enough virtue signalling, pay into the system and help out. Capital gains, needed to raise. We can’t have people with multiple homes, you can see how that prices for example Cornish youngsters out of homes. We can’t have an elderly just raising and raising their wealth and not sharing, that’s not helping anyone. We can’t have employers dodging NI payments, this isn’t gonna make philanthropists out of employers, it’s just gonna make sure they actually pay in. None of my previous employers contributed to NI. Zero.
I have a lot of sympathy for the tax rises especially that those they’re charging should pay them. I just want greater managed public spending too.
What Growth ?. GDP may rise but GDP per capita is falling because of population increase.
Low growth? To be honest I think this will tip us into recession i.e. negative growth..
Full socialist budget, they have to borrow to stimulate growth...in the public sector.
No private sector company will invest based on the taxation laid out.
I'm fascinated by how Gove has so utterly failed and how the Spectator has lost so much with the handover to the irrelevant GB news guy. The Fox model works in the US where the population is 300 million, it won't work in the UK. The radical libertarianism trend has bucked. Gove's candidate Kemi is out of the Overton Window. The ideology has lost the argument - it's not better for the market. If I was Katy Balls - I'd jump ship. Charles Moore can't moor no more. He is a very intelligent man but is very old now and has never ever really nailed the problems and provided any interesting solutions to them which is what the Tories actually need right now (the woke stuff has nothing in it and Thatcher doesn't provide any solutions to this current political situation). The old spectator, the sinking ship. Sad really.
Rachel Reeves is a total dud. She’s had years to think of what to do and this shows she is devoid of any talent. Tax, borrow and spend.
life on Mars is spot on?
Growth for who? Corporations and the ultra rich?
Goves shafted the Tory party he can now finish off The Spectator! Goves games us labour by being a yellow tory.
I'm sorry but I think a lot of employer Brits should stop moaning and start contributing to infrastructure - infrastructure they use everyday and take advantage of e.g. roads and even cultural infrastructure - such as good colleagues that they can work with because of the education and health systems. This is the backbone of GDP !! Give and thy shall receive and all that!!
also employers should stop passing on costs to consumers and driving up inflation - the idiots and scrooges.
Gove should be in prison for corruption and fraud. Why is he still at large? And the lady from the dodgy think tank again, isn’t she? One thing positive out of this video though: more people can see what a scam the spectator really is.
Any talented entrepreneur with capital will go elsewhere. It’s up to business to create growth and not big socialist nanny state Government. I expect the exodus to continue and speed up and for the decline to continue. Look at UK stock market compared to US. UK has no serious leading innovative big companies. UK just doesn’t understand and has no serious future. Get out of there.
Is this the Gove channel now?
3 Tories, shocker!
It's the spectator you bellend.
IMF beckons.
OBR - joke. Taxes - joke. Government abd public sector. The British should be rushing to Poland.
Best budget for decades - shades of Denis Healey's "tax the rich until the pips squeak"! Whingeing entreprenuers are welcome to leave the country as they wish.
This budget didn't target the wealthy , it targeted the average employee worker - lower stamp duty allowance removed, freeze on personal tax thresholds and the really big one IHT allowance frozen for another 2 years and pensions now in IHT, plus another big one increased NI for employers will lead to reduced wage growth and redundancies - a grotesque budget
Ooh the politics of envy in full effect, the mind of the jealous narcissist is a very dark and strange thing.
The bottom end of society is really struggling economically. There is bound to be a redistribution downwards. Fair enough is it not? Taxing private education is a mistake for middle England though. This should have been means tested, as should winter fuel allowance. Easy enough with the precedent of child benefit.
@@lakedistrict9450 and who pays for all the striving up children who will now be forced to drop out if private education and enter state schools ... Oh wait .. the tax payer!
If the endless tap of mass low skill immigration was turned off wages for the 'bottom end of society' would have to rise massively if the jobs are essential. Government spending would fall as fewer households would receive benefits
@ Agreed. We are messing our country up. IMHO
@ Yep…. Be interested to see the data in a year.
Basically, the Tories cracked the whip too hard and damaged the horse.
Very disappointed that you give airtime to this airhead Mr. Gove. What sort of review is this biased utterance from a representative of a failed rep of the con-government? A backstabbing posh MP that is great at talking biased selfish sentences. That’s me having enough of listening to The Spectator.
Bless.
I agree, gove is far too left wing to be on the speccy.
He's the editor they can't really keep him off.
I did unsubscribe, but I still get these weird comments.
Sigh….;)
@@sverrekoxvold3834 Yeah that's how UA-cam works dude, nothing to do with the Spectator.
Best way round it is to never comment again.
That was really nice of Labour to tell the British public: If you want a better NHS farmers are going to have to pay for it! If the British public truly want a better NHS everybody should have to pay for it. Just be honest. Increase the tax allowance to £15,000 and put everyone’s tax up by 5%. Basic rate to 25%. Higher rate to 45% and top rate to 50%. That way we are all in it together. Destroying the farming and pension industry to ensure grandpa gets a quicker hip replacement seems a high price to pay.
Spectator - mouth of the Tory Party.
@@simonbamford8441 Just put your argument against theirs instead of that nonsense
Because there are no left leaning outlets....
The BBC "hold my beer".
Doesn't make them wrong
Same as the New Statesman, Mirror and Guardian being left wing mouth pieces for the Labour Party
Yes- and? If you dont like it, go watch a guardian podcast
Two Tories complaining on a Tory channel. When the Tories cry, the country wins.
Cry babies of dragons suspected?
Moan moan moan. The Conservatives also brought the tax take to record highs. Yet little mention of that or the disaster for public services the last 14 years has been.
It was either raise employer NICs or increase some other kind of broad base tax, which is politically more difficult. Tbh I don't really care which.
People on this channel seem to be obsessed simultaneously with balancing the books and yet don't want to raise taxes and don't want to cut or freeze the largest spending departments (NHS, pensions). Oh and cue those blaming migration for all our budge woes.
Michael Gove, a man of questionable values who gave us Brexit (well done mate); Kate Andrews, 9 years work experience in right wing think tanks and journalism who represented the IEA neo-liberalist think-tank funded by corporate dark money to lobby for right wing policies; Katy Balls, 14 years work experience in journalism, no private or public sector experience and has had two jobs (The Telegraph and Spectator). Why would you listen to any of these people? Only because they are good at talking. Certainly not for their experience or what they say.
Judging by how angry Sunak was at PMQ, I'd say the Tories are going to have to eat an enormous slice of humble pie. People have a lot of deference for the Conservative Party that they're the party of economic competence but that is very much in question now given Reeves' work. If her budget was bad - the market would have reflected that, as it did with Truss, but it didnt - therefore the ideology underpinning the economic strategy in the past was not supported by the market. In that sense Kemi has already lost the argument by the market not crashing. Her solutions will not be a better alternative to this government's approach. I wish Tugendhat was in the running. He was your best candidate hands down. A good man to compete with the good that is coming from the current government. A baddie can't do it - there's no more traction in it. The worm has turned...but the Conservatives can't see it. Sorry Gove - I think you might be out of another job. Perhaps the Liberals are the effective opposition now.
No way
Supported by the markets?? Gilts tanked this afternoon once the OBR's report on the budget came out. That means that interest rates will stay higher for longer. The OBR's report states that everyone in the country will be will be worse off after this budget and that it will be a major drag on growth. Sunak was absolutely right in his dismantling of it.
@@keysersoze1522 GDP will make up the loss by strengthening the middle class market for goods such as cars.
@@catherinethomas1276 I'm sorry but it's the truth. Birth rates are too low because of of underinvestment in the wider population - that means more immigration and less tax payers, our consumer power is low (the top percentile of the population don't buy consumer goods in bulk which is how you boost trade deals with countries such as China and the US - what we lost by being a partner of the EU trading block), the fact is that unless automation kicks in, which it hasnt, top companies are still dependent on human labour which shouldnt be sick (so hollowing out the nhs was a really bad economic idea).... The Conservatives have lost the economic argument, not to mention the moral one (if that even matters to them but does to the market.)
@@lautreamont808 I think you have either a fundamental misunderstanding of what the OBR are saying or are just blinded by bias. This is a terrible budget, even Labour MPs hate it.
One of the great minds behind the fantastic Liz Truss budget and a guy who run this country into the ground and turned it into the worst performing G7 economy will now share with you their wise thoughts on the economy 😂
You have to admire people with such lack of self awareness 😂😂
If the spectator squirms, then this is a good budget thatll actually benefit the country.
Look at where we are after 14 years of the spectator cheering on our decline
It’s a brilliant budget and firmly puts the Tories in the dock!
What’s brilliant about it?
I think it was a good budget. It’s nice to see the show on the other foot with the wealthy picking up the tab rather than the tories hitting the masses and protecting their mates
...and what do you think the wealthy will do? Create more jobs, invest in the UK or run for the hills and get out of the UK while they can.
What the hell are you on about? The NI measures will hit SME businesses the hardest, directly affecting working people.
@@ccc9664 He thinks that SMEs have magic money trees.
I tried to repeat this trick in front of a mirror, and now I have a new record of a broken mirror and lots of laughter🧡