As Mum used to say, "they know the price of everything and the value of nothing". Everything here in the UK is done as shoddily as possible, or not all! so as to extract the most possible profit.
Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
Things are strange right now. The US dollar is becoming less valuable because of inflation, and other powerful nations waking up to trade in their own currencies. Good thing is, a lot of people still turn to the Dollar because of the safety is somehow assures. I'm worried about my retirement savings of about $420,000 losing value because of these factors and more. Where else can we keep our money?
I've been in touch with a financial advisor ever since I started my business. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders.
“Carol Vivian Constable” is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
I just googled her and I'm really impressed with her credentials; I reached out to her since l need all the assistance l can get. I just scheduled a caII.
But UK has the lowest engineering degree ratio of college graduates among major economies. Manufacturing competitiveness is hard to restore once lost. It takes lots of infrastructure, time, expertise, talents, etc. No country has succeeded in "re-industrialization" after post industrial economy. Even USA couldn't
UK engineers are great at custom high end stuff with deep thinking. That's why you'll find them working everywhere else as the UK market is a bit rubbish. I'm in the USA market and have outsourced a lot - anything difficult goes to UK (or easier to go to UK engineer living somewhere else) but they underprice big time.
Even if you got an engineering degree you won't get a job as an engineer in the UK. And even if you did the wage and conditions will be utterly pitiful.
Might I put in a little history? In 1976 (I was there, then, by the way) a labourer's wage was £40/week or £2,000/year. Beer cost 10p per pint and small houses cost about £4,000 to £6,000. So the wage equalled 400 pints of beer and a house cost 2 or 3 times the annual wage. NOW (2024) beer costs £4 or £5 per pint; houses average £280,000 and wage.......£27,000 per year. So to equal 400 pints of beer, wages should be £1,600 to £2,000 PER WEEK (£83,200 to £104,000 per year) for a labourer or between £93,000 and £140,000 per year compared to a house. As they say: "You do the maths!" Please note that all the real figures above related to someone doing a basic labouring job, such as a Farm worker. Peace and best wishes, Luke
Cool. Always good to have a peek. My brother and I spent a couple of weeks in London & Scotland, with a great though spendy day trip to Paris on the Eurostar. It was 2010, Boris was Mayor and weekends in the city centre were car-free and bikes VERY encouraged. Travel within what might term the centre of the touristy bits of the city was a Pound on the Tube with a ticket. Cash fare was 2 pounds. Like my brother send, over there, a pound spends like a dollar. But it was well worth it. One big difference is the state plays a much greater role in housing in Britain than in Canada, so what they save on housing, we save on food...? Comparisons can get complicated. Lots to think about. cheers
It would be also interesting to know the wealth distribution back then compared to now. I don,t really think that back then there was comparatively more money circling around I just think the rich are getting richer and are literally sequestering larger portions of wealth, and because of that the middle class is slowly dying out
That's what happens when there is not enough regulations and lacking a progressive tax system which results in huge inequalities where most of the wealth goes to the top 1%
The joys of a democracy. Where we have career politicians whos only stress is the next election. Who cares what I put in place today the next guy can implement it or deal with the backlash as it does not.
This is not unique to Europe. It's sad how difficult things have become in the present generation. I was wondering how to utilise some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to use what's left to invest, but I don't really know which way to go.
I understand how you feel. It's a little bit difficult to navigate things these days. You don't wanna lose whatever is left. I may suggest that you find a financial advisor who could give you thorough advice on how to go if you want to go the investment route. Also, the fact your business failed doesn't mean you should give up.
That's right. I have tried many failed businesses and it's just a step further. Don't despair. But to add, if you do decide to use a financial advisor, it's best you use someone who understands your special needs and can work with you. I learnt this from experience before finally finding one I can stick with. Now I make six figures from my investments alone, and even more from my businesses.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
The main problem in the UK is depression….its feels like a sick society… everyone depress to clinical level… young and old… 10 million today in a working age r economically inactive.. that they r not working neither looking for a job… one forth of working age population r on benefits… even more scary,, another 10 millions who actually working r suffer from depression, stress and anxiety and chronic pain which is likely due to mental problem… if these 10 millions left work, the UK would bankrupt.. today 23 millions receive social benefit… on average of 15 thousands pound per person..theres no economical module can support this… imagine if these 340 billion of pound spent on benefit would spend on investment, UK would be richer than any other nation… depression in the UK caused by multifactorial causes..weather,, ppl,, regulations and legislations,, social breakdown,, relationship breakdown and economy uncertainty… ppl and the government should work to sort out these issues… apart from the weather which ganna stay miserable forever
A lot of those issues are cronic issues here in the US. Other developed countries too I believe from what I've seen. I doubt many countries citizens think their nations and lives are going in a postive direction.
Yep… breakdown of the family by government incentivizing breakups instead of allowing economic pressures to incentivize unity, breaks more than it fixes.
@@joeschmoe5583 No it's not. California's economy and problems are completely different from Britain's. Y'all hear anything negative in the world and try to relate it back to yourselves.
We seem to have been surfing a slow decline since wwII and covering it with attitudes about our greatness and complaining about Europe. The population believed the spin and voted Brexit.
Not if they embrace cheap energy. The economy is a heat engine. 🚂 They just discovered 2 to 23 TRILLION tons of coal under the sea near the coast of Britain. Many times more than all the coal that has ever been burned in all of human history. They need to embrace the cheap energy to rebuild industry and get incomes rising again.
There was a classic line from that Chernobyl miniseries a couple years back. That a lie told owes a debt to the truth and in time that debt is paid. There's something similar going on with economic policy in the UK and elsewhere. Since the end of the Cold war. There were certain assumptions made about the economy and what economic growth meant. There have been multiple opportunities to make course corrections or adjustments to that vision to make growth possible in a way that benefits the entire country. Instead, at every single decision point, leaders decided on the choices that enriched a small chosen few. As each missed opportunity stacks up, the UK is now at a point where changing course is going to be very very hard. The interest is coming due.
"at every single decision point, leaders decided on the choices that enriched a small chosen few...." Why? Because they (the rich) wrote the rules aided and abetted by the corrupt politicians... So everything is legal... Simples...
@@BiblicalBasics There was a miniseries back in 2019 that appeared on HBO here in the US. You can find clips of it here on YT. It's exceptionally good.
They're actually moving to the Arabian Gulf and big time too. There, there's one of the cheapest gaz prices and also zero taxes, so very big cash to be made.
Taxes?? You should take a look at the Indian Tax system😢... Yearly tax deduction, gst for products and services and road taxes. Even after paying these many tax amounts, we are not getting any benefits back from the government.. Zero safety for women, corrupted government officers and politicians, Unnecessary religion and caste disputes, Toxic education system and the list goes on... Here the government only works for the people who are rich and powerful..If a person who is rich and powerful committees a crime the government itself will help the criminal to come out of the case ( if you want live example search about Kolkata female doctor's rape case and hatrass rape case)..
The UK is obsessed with the price of domestic property, which is an unproductive asset. The UK should be more business oriented. Added to which, the fact that the public sector earns more than the private sector is outrageous and will definitely not end well. Too much government, too much regulation, too much tax... >
You didn't mention the UK's non-presence in tech which is a high growth industry and you didn't mention the public sector's lack of productivity as dragging productivity down.
@@koks49045 Technically, EU/UK suck at tech. Germany has SAP and there is a handful of pockets of innovation. But essentially, the EU is a regulatory powerhouse that killed off innovation on the continent.
I live in the UK and it’s frustrating because I see the potential of my country and how it’s falling behind peer nations. I have 3 things I would focus on: 1 - reducing energy bills (a great way to start would be to get rid of the short sighted ban on onshore wind power that Cameron brought in, because onshore wind is by far the cheapest form of energy in the UK) 2 - I would create government backed venture capital funds that have the goal of supporting 1000 British based unicorns in the next 10 years (we need growth and startups are by far the best at that) 3 - a massive boost in expanding and modernisation in the rail network and a massive expansion in cycling infrastructure, these would have massive benefits in terms of the climate crisis and improved public health which would then boost productivity.
What about crimes?? Prisoners are in prison enjoying their life... since there are games to play and food to eat. It's no longer a punishment to be in prison. Learn from countries with low crime rates. Why are the crimes rate low??
I fully accept your right to comment and to express your opinion. I ask you grant me the same courtesy. The climate crisis is not real ! It is used as an excuse for extracting money from hard working people. Changing the methane in petrol is a classic example. E10 petrol burns faster and more needs to be used on a journey. E5 is better for miles per litre however......surprise, surprise it costs more ! On the climate generally if I took the temperature outside my house today and compared it with a reading taken in the same place exactly 100 years ago I bet it would be exactly the same. There are arguably too many people on planet earth consuming too many resources and that is maybe where we should start revising our way forward Respectfully submitted
As a software engineer, I am always surprised to learn about the pathetically low salaries in my profession in the UK. A London-based developer could be making one quarter of a similar Silicon Valley developer, and half of a Tel Aviv developer. Sometimes the salaries were even lower than in Ukraine before the war. That's despite the insane London real estate prices and generally high-ish cost of living. At the same time, unlike in Ukraine, developers are not well-paid compared to other UK professions, so the UK doesn't have many of them and cannot become an outsource location. This is just one symptom, but it shows a major issue in the UK: extremely high-productivity jobs are not rewarded.
Gerentocracy. There's a sickening culture here that the highest paid jobs (ie. The salaries that software engineers should be getting) only go to senior management jobs.
It's sad really, Britain pumps out some of the most brilliant minds on the planet (they still do, last year most of americas nobel prize winners in physics were educated in Britain for their undergrad, mostly in oxford or cambridge) and yet the industry can't keep up with these people.
Nearly all of our economic problems stem from property prices being too high. Nobody has disposable income anymore. Stop property prices increasing for the next 10 to 15 years and allow wages to catch up (so average house price are 3x average salary again, instead of 7x), then prevent property prices from ever increasing faster than wages again, which was a stupid idea in the first place.
Nice idea. Unfortunately, the asset owning class regards bricks and mortar to be equivalent to accumulating gold bars, to be priced as high as possible as they're increasingly brought and sold amongst themselves, like bonds, shares and stocks. Pricing them so high effectively locks them away from regular people, particularly younger people, akin to locking gold bars away in Fort Knox, leaving such people at the mercy of a rental market where demand is high and supply is kept artificially low, along with their parent's willingness to have them dwelling in their basement well into their 40s and beyond. Case in point: China. Building entire cities, that noone lives in, was akin to printing gold bars for them. At least until they were overpriced so high that even the top asset owning class couldn't afford to keep buying and selling them anymore, resulting in a loss of liquidity and the economic crash that China's now experiencing.
Homes are way more than 7 times the average salary, surely? If I’m on £25k in the south east, and a crappy flat is about £300k, that’s 12 times my salary. My mum was on £24k in the 80s in her junior office positions, when food, homes and bills were cheaper. We don’t stand a chance today.
@@GarroLegionofOne True, and huge National debts to keep their economies artificially functioning. Not being an economist; I don’t know if there’s correlation between property prices allowed to rise drastically faster than inflation and everyone being so much poorer. To my mind there seems to be a direct connection. More money going to banks = less money to spend on local businesses. And when domestic rents and mortgages go up, so do business rents, so it’s a double whammy for them. More expenditure less income. And business rates works on the principle that if you can afford a high rent, then you must also be able to afford to pay high business rates (not based on actual profit, or success of the business). Spend money improving your commercial premises ? Then we’ll put rates up even further !! Why isn’t our economy working ? The lunatics have taken over the asylum 🤪
I have to agree from my own experience managers are a menace in UK. And that combined with unions and lack of direction ends up in nothing being done or done very poorly, because everyone just looks at whats now not what will be in the future.. It creates situations where rules in a company make no sense and are slowing down productivity and killing any morale still left.
@@culaterw41pr Problem is managers have no incentive or real power to really improve anything. Its not as bad as in Japan system, but its not far behind. Most managers are not even qualified. To stay as a manager its all about sticking with the click, not doing your job correctly. Everyone thats actually doing the work knows whats the issue and how to fix it (most of the time). But it all gets stuck in the middle management for years or never gets done. And if its done it makes things worse as it was more about pleasing someone than doing what makes sense.
How is productivity going to be high if hard work is penalised with heavy additional taxation? If I want to dig myself out of loans by taking up weekend/ out of hours work I get obliterated by additional tax. Not much incentive in working overtime/outoff hours here.
High taxes because the big corporates, banks and billionaires have every means of avoiding tax yet expect everyone else to bail out their bad investments when the banks crashed The British state is almost entirely privatised si quite obviously most of your taxes end up in private pockets as well
The issue is the super rich don't pay so you do. They then invest in massive property bubbles created by the banks issuing ever greater amounts of new money. This pushes up your housing costs further draining your income. Then when the banks crash you have to pay to bail them out They will have people killing each other in the streets before they give up on this model
Very informative video. As a US investor in Britain companies such as British American Tobacco, Unilever amd Legal & General, I like to see where your economy is going. The lack of productivity is also affecting Canada and why it's right behind you. Our lack of fiscal responsibility over here in the US will eventually lead the dollar to follow the pound in weakness.
Is too much investment in the UK going into real estate? If yes, is this investment driving efficiency and productivity as much as possible? How about a vacancy tax on both residential and commercial real estate? No matter if for a land or a month, an empty property is inefficient use of land, and the building on the land. This means its inefficient use of the materials in the building and the labour that went into making the building. The empty property tax should be strong enough to force AirBnBs, hotels, motels (and other vacant properties) to be rented on low demand days - even if at a loss. This will lead to some short term rentals being converted back into long term rentals. It will make residential and commercial rent cheaper. Giving consumers and businesses more money to spend elsewhere. And if some investors decide to leave the real estate market, they’ll invest elsewhere (most likely pushing investment into improving productivity).
You’re completely right, the problem is that the biggest land barrons are also the law makers (or best mates with them). In other words, they’re never gonna introduce tax legislation that penalises themselves like that. I’m not sure if UK will ever truly be able to break free from its aristocratic roots and become a true democracy for the people
@@jasonn6739 "I’m not sure if UK will ever truly be able to break free from its aristocratic roots and become a true democracy for the people..." It cannot... Remember its HMG... His Majesty's Government... The name gives the game away...
@@culaterw41pr You mean a republic, there is no such thing as a 'true democarcy' unless you go back to a 5th Century Athenian system where everything is decided by direct voting, even declaring war; I think a representative parlaimentary democracy is the best least worst option!
Yes, the land and living space is used inefficiently. But the big money people compete for these houses and in this big money shift, wealthy people getting wealthier. And poor will anyway stay poor, why care...
Germans invest for the long term.. UK is short term and wants quick results. In addition you have a large section of the population that does not want to work/can't/ or it is not "worth it to them". Go to a developing country and see the people running from place to place,working and delivering. UK doesn't work like like and is not competitive. Sad really
germany invests where it can make the most profit, and take the most advantage overseas. bosch products made in purpose built factories in china, vw buying up cheap skoda in eastern europe, then melding it with vw. their mistake was taking the risk of working with putin on energy, gas, oil etc.
There are always solutions, just not quick solutions. The solutions are known. Ireland was poor 50 years ago; they did the right things and got rich. The British just need to get down to work, to do the things that attract investments. And consume less, and invest the savings into productive assets.
You have to factor in EU subsidies and US multinationals using the Irish tax system to game the European tax systems... Yes the people did the hard work but the 2 factors I mentioned were very big drivers for success...
@@culaterw41pr Also most importantly, it seems nobody in the UK government currently has a plan which extends into anything even slightly inventive. The government is content basically running things as normal and changing policies minimally, in conventional ways.
Your videos are so very well made and break down extremely complex matters into comprehensive language. Excellent food for the brain! Many thanks from Sao Paulo
This is what happens when you put a bunch of Eton and Oxford-educated posh boys and posh girls in charge for more than decade, people who studied things like Classics and Philosophy because those subjects mark them out as members of the upper class. As opposed to studying subjects that might be useful for political leaders to know about, such as Economics or International Relations. Whenever the Tories are in charge, life gets worse for everyone except them.
In this world economists aren't taken seriously if not aligned with neoliberalism, so I don't get the point to blame pure subjects like Philosophy. I wouldn't prefer educated monkeys like the economists repeating the same tale by heart
UK was at its financial pinnacle when it avoided free market economics by protectionist measures for the Empire, and specifically for UK within the Empire. Thatcher began the move away from an economic system that benefited the nation to an ideological (contrary to evidence) neoliberal economy. That FLICKED us big time. 3:44 Labor? Pronounced Labb-or.
That time technology was largely western centric , in today's world that system cant work ...case point would be China , when it was protectionist it was largely poor but right after it opened itself up it grew rapidly. Same with India . Technology is everywhere these days , who knew a country like Lithuania will create a multi billion dollar unicorn in Europe , that's the case in today's world in matters trade . If for some reason countries closed off their border and put up barriers , economies will suffer globally the UK included
Rubbish! We didn't have an empire when Thatcher was in power so there was no captive market for all our outdated expensive production. Thatcher stopped subsidising the greedy few despite their bully boy tactics
Small business support is zero, plus 100s of rules and strict regulations. You can only take a loan if you show that you have 10 times the amount. In other words that you don't need money.
5:35 is a weird analysis the graphs show a deviation from the norm, and you're saying it is 30% behind? this is really hard to relate to actual real numbers.
Can we correlate anything between people piling investment into the buy-to-let property industry (for quick and easy returns) rather than investing in actual UK industries? I'm no economist, but investors taking the path of least resistance seems like a recipe for disaster down the line. I think reversing the financial appeal of investing in buy-to-let, or owning one, can only be helpful as a course corrector. With added benifits socially too. BTL landlords will hate this as they dont see the greater game theory in it. Thoughts?
First problem is basic economic management and honesty. And it's not a left or right issue, it's a matter of integrity and long term thinking. We need to stop running deficits, if the Tories want lower taxes, they need to be honest and lower government spending until there's no deficit, if Labour want high government spending, they need to be honest and raise taxes until there's no more deficit etc. Similarly they need to stop lying with statistics, increasing GDP by importing a million immigrants a year isn't making people richer, but the government tricks people into thinking "the economy increase in size by 2.5% is the same as "we made you 2.5% better off. No, government should actually be required to tell people about GDP per capita or median GDP per capita, which proves that people aren't really better off at all, and would force the government to stop focusing on "make GDP go up" and instead focus on making Britain more efficient and productive.
Companies don't want to pay more so they are there to bring down wages. Even public sector does it advertising for doctors nurses and care workers in foreign countries instead of paying more to those striking fir higher pay
Yeah, liberally millions of people have arrived from overseas in only a few short years. I'm not really interested in the racist rhetoric, but the mathematical numbers of immigrants should concern any sensible person. If our own youth can't afford housing and get jobs, why are we replacing them with cheap foreign labour in record numbers? Even a blind man can see this is going to obliterate the youth long term. Many are just leaving England now.
Relying on services as the main focus of Britain's economy is probably a risky strategy, since the coming AI revolution will probably wipe out many service jobs, in the same way that Amazon has already devastated high street retail outlets.
The problem with the financial services, no matter how much money they make in London, they suck the talent, resources and any chance of economic renewal in the rest of the country.
We are STILL in austerity!!!! From 2007. 😮 They won't invest because it would provide a better life, they want to only manipulate you. Social class ceilings everywhere.
The main problem is that the government and the House of Lords are stuck in the 1950s and Great Britain will only advance if the old government is swept away and a new modern system is built upon the old.
Rearranging the seats on The Titanic will not save any more people, just waste the time of people who are destined to sink. The people must be encouraged to grow on their own, not stifled by regulation or made busy with meaningless activities.
@@jillybe1873 - “proportional representation” Worst decision the US ever made, regarding their Senate moving to proportionate representation, absolute worst.
Isn't it ironic that people in "authoritarian" countries like China, Vietnam, Saudi Arabia, Singapore, are happier and more satisfied with their governments and countries directions than people in democracies who are apparently allowed to choose their countries futures.
Authoritarianism has a lot of problems, but the one thing it does have is long-term thinking! If you and your party are going to be in power for the foreseeable future, you can't just make shit up as you go along for 4-5 years and then dip out before the consequences catch up to you. By which point you can just blame the opposition party for it (e.g. Obama getting blamed for Bush's terrible economic policies, then Trump trying to take the credit for Obama's fixes to those issues...). It's ironic that the UK is still a monarchy, because the one potential benefit of that would be having someone overseeing the country for life and therefore actually care about how policies will work out in the long-term... And yet the monarchy isn't even allowed to mutter a single opinion on anything political, but they sure as hell like taking all that tax payer money to fund their estates... It's literally the worst of both worlds. We pay for monarchs and all they do is stand around in stupid clothes and wave at the cameras, meanwhile politicians ruin everything and then go meet with Charlie to tell him all about it and that's that.
US GDP is heavy on sports and entertainment, lawsuits ( Trump fiasco must add over 100 million to the bottom line), fast food, and the military complex. They don’t make anything productive.
40 years ago, all my art and design professors coming from UK (I'm from HK) were the best trained with best fundamentals. I had dreamt about going to school there to further my design education. What happened?
@@jonsimmons4150 And your source for this insight is? Absolutely no connection between the education and joining the EU... Education is and always has been controlled locally in all EU countries...
what do you mean? Everything is going great. Millionaires and billionaires are making money. Why would the government change? They are millionaires and billionaires.
@@MGrey-qb5xz That's his fault for not employing an OBE (Offshore Banking Expert) account who can move his money around and get him a zero percent tax rate. Taxes only apply to the poor.
I agree that income inequality is a fundamental problem. It has been caused by the inability of the economic system/government to fairly distribute the gains from productivity growth over the last 40 years. It has been further exacerbated by flaws in the tax system that allow the most profitable corporations and highest income individuals to avoid paying their fair share of the taxes needed to support public investment in infrastructure, skills and healthcare that can increase productivity and GDP/capita growth. In market economies, consumer spending (consumption) represents some 60-70% of GDP. If the consumer has no growth in disposable income, they cannot increase consumption, hence GDP/capita growth stagnates and decreases. Government leaders and political economists have to recognize the problem and causes before they can even begin to look for an appropriate solution. But, they live in a different economy that derives all the benefits of income inequality; therefore there is no incentive for them to recognize the problem or to take appropriate action. Who is to blame? The British voters are. They have supported successive governments and policies (Brexit) that have punished private investment.
Brutish used to manufacture so many things now we just import things, we had Sheffield Steele , we built ships , car manufacturers which was sold off to foreign investors also there plenty of builder company’s that would take on apprentices along with technical collages which are gone which has changed the way apprenticeships are.
we cannot afford houses, food, cars. and the wages dont go up with prices. i'm 18 and the generations before us commonly dont understand how everything isnt as affordable for us as it was for them - we cant afford a house in our 20s, we can barely afford our first car.
A mate of mine bought a quarter of an acre of land, put a shed on it and lives in it. He's a manager at a woodcutting workshop, not great but not awful money. He says it's just to save as much as possible to avoid rent trapping. I quietly crunched the numbers and IF house prices stay static he'll be able to afford a down-payment in 15 years. A manager has to live in a wooden shack for one and a half decades to ever BEGIN owning a home. At this point if the army rolled tanks into Downing Street and gave a military junta a shot I wouldn't care a jot.
I'm 28, I was studying at a University in Glasgow, Scotland, worked in london for 2 years. Soon realised UK isn't worth it anymore. I Left in January. Reasons as follows: Terrible Healthcare, high taxes, expensive housing, Unnecessary paperwork even for skilled expats. I have 3 jobs offers now, 1 from AUZ, 1 from Germany and 1 from Dubai. Mind you I am a pretty good AI engineer. The govt's agenda to penalize legal immigrants and give free food/ housing to illegal immigrants is so unfair. I have seen it in London which is full of illegal migrants, while I was paying all the taxes, visa fee, immigration fee and still had to wait for weeks to get a doctor's appointment. The economic collapse doesn't happen all of a sudden (like falling from a ceiling), it happens in a gradual sense, slowly and steadily. British economy is on the same trajectory. British are one of sweetest people, I can't say the same thing about their govt though.
Same here, I started in 2018 in Glasgow Caledonian Uni in engineering. After graduation 2 years in London. In may I moved from UK. Shit job market, everything is short term, everyone are psychopathic liers, and renting a room cost you a 40% of your salary after tax + you need to get along with stupid flatmates
Look to small countries that have thrived and created wealth for all their citizens. Singapore got it right under strong visionary leadership from Lee Kwan Yew. Low taxes, incentives for entrepreneurs, a culture of rewards for hard work, and as the great man said " we want engineers and scientists, not fruit pickers". The socialist culture in the UK has sent the country into terminal decline.
Mass Deportations is a policy that can cure many ills; if the economy needs low skill workers then we don't need compulsory education up to aged 18 & if we need medical professionals we shouldn't keep restricting the numbers of those being trained. We are a relatively small country & historically have punched above our weight because of quality over quantity produced by broadminded curiosity & a high social tolerance for thorny eccentrics developing in an ecosystem of high social trust & high standards of education & enquiry; so we should get back to that.
The politics of the UK just isn't changing. We are still having to choose between Labour and the Conservatives who are not running society for the many who make up the real economy. Just who or what is the real economy now? The UK has been "hijacked" for the wealthy and the rest are having to pay for their ridiculous greed. Running society simply to maximize wealth inequality is a massive problem not being addressed globally, including in the UK. Its got silly, the super-rich are simply rewarded for having wealth such that investing in the so called "real economy" doesn't even pay them. Its been made that ridiculous by politicians who are not interested in actual solutions that would actually make the world safer and better place for more of us, not less. For example, the conservatives and labour just continue to artificially inflate the land and property prices by not building "homes" which are now referred to as "assets" (e.g., this is why your high street is all boarded up and rents have increased). They continue to run a non-progressive tax system and centralize power and wealth, using this to leverage even more for the wealthy through quantitative easing and inflating deficit borrowing. The premium for everything including food continues to rise because of wealth inequality which politicians support growing. The politics of the UK just isn't changing. Joining the EU will only compound the problem, so that's no solution in truth, despite some people wanting to believe that it is. I say, lets have 20 years of progressive wealth distribution back to the many and then review the situation. Raid offshore holdings to address the debt we are having to pay for. Ban multi-millionaires when it gets to 3 million. Nationalize all super yachts. Don't let the wealthy claim the state pension as they don't need it. Make those with a property portfolio house at least 2 homeless people mandatory. Lets try 20 years of that, then review the situation 🙂
Sort of agree, although not for directly political reasons. A country that in the 21st centurry still holds on to a monarchy -- and a very expensive one at that -- is clearly a country not ready to live in the present, much less one trying to move toward the future. If the nation's consciousness is still trapped in the "glorious" past of kings and empires (the latter being a major reason for the cognitive dissonance Brits experience about their relative importance in the world), then they can't properly evaluate their current situation as a middle income nation with no resources and little diplomatic reach, and make realistic plans to improve things. And meanwhile people are too used to their "keep calm and carry on" mentality to really fight for real change or even dare imagine what that change can look like. They just complain to each other over their too many pints of beer then go home to sleep in their poorly insulated houses and then start over again the next day. Brexit was about the UK having more autonomy to create their own regulations and make bilateral agreements -- except they forgot that they have nothing of value to sell to the world, as even their "services" are basically just middling office jobs that are easily replaced by any degree holding worker anywhere else. Brits thought they could stand alone as a world power, forgetting that they haven't been a world power since the end of their empire and it was just their membership in the EU that maintained that illusion for so long. Now it's time to wake the hell up. And yes, I believe that a history of monarchy means that the social consciousness is prepped for just accepting crappy political situations without feeling a sense of personal responsibility to do something about it, hence why it keeps getting worse.
@@g_wylde I disagree that the UK's problem is hinged upon its Monarchy. That makes no sense at all as the existence of the Monarchy is the reason why tourism still thrives in the UK. I'm Nigerian and I can tell you, you NEED that Monarchy to survive else, you won't be any better than Greece or Hungary.
It’s insane how obvious the solution to the issue is. Housing. How can there be innovation and productivity when everyone’s money is being flushed into an asset that only appreciates the less you allow other people to have/make. It’s sad and lazy. It’s Idiotic where we are at now and was so predictable and easy to see coming. The British public are too easy to fool hence we will remain a reliable battery funnelling money to mega wealthy as standards of living plummet through the floor. We have a situation where young people are saying “what’s the point in working when I’ll see nothing from it?”. I don’t agree with that mindset personally but I get it because what exactly is the benefit of working hard with the way things currently are? Burst the bubble for good. Until the country concedes that housing should not be for profit and allow disposable income to actually be used on things that will grow the economy we will be stuck.
Imagine a UK where instead of funnelling money into property that does nothing, the expectation was that the UK public reliably park a good amount of savings into some sort of UK index that funds British companies and companies that that have a strong presence here. The same foreign money that’s being used to dominate the housing market could be used to pay decent wages and fuel economic growth for said businesses. Imagine how many entrepreneurial ideas that have gone by the wayside because rent and mortgages are people’s primary focuses.
Makes all the anti migration rhetoric seem ironic. If the home office hurried up and processed valid asylum claims, both those problems could be partially mitigated.
Everything is created for the short-term thinking in stockmarket like importing low educated people from totally different cultures to lower production costs but never regard the long-term cost on society
I can safely say that the country is decaying, just by comparing the prices of the two countries Germany and the UK let's say. In the city of Berlin in Germany you can still find a nice and affordable studio apartment for 550-600e, while for the same price in the UK you can't barely find a nice room in shared accommodation, not to mention that the salaries in Germany are also much higher.
I just read an article called "Is the UK Becoming A Third World" Country in The Luxury Playbook that says exactly what you describe and goes even more in depth. Unfortunately we are doomed.
UK could become part of Indian Empire. Their prime minister is already Indian. All they need is marry one of their princesses to a Raj in India. And wala, Indian Empire in EU.
Well I suppose one advantage of the service sector is that it's not quite as heavy on extortionate energy costs as the manufacturing sector. For those employed in the these hi-flying careers in the service sector they are probably going to be ok but what about everyone else? It seems that under this thesis you COULD have a thriving service sector in isolation from everything else going on in UK society. Lack of affordable homes to buy or rent and lack of affordable energy are huge problems aren't going away anytime soon which leads to what we have which is a TWO TIER society in which the hi-flyers get the nice homes and everyone else has appalling living conditions. This dystopia already exists in our capital with raging unpredictable often life threatening crime day and night, raging flag waving mobs every weekend , a few nice homes and housing conditions for the high flyers and terrible housing conditions for everyone else. This video is far too narrow and blinkered in scope for my taste and fails to address the wider problems that form the seeds of a revolution. We are already in the throes of some sort of revolution as it is although whether it remains one controlled by the hard left in the years ahead as does at present remains to be seen!
I am planning to do IT project management from uk which will give 2 yrs of psw visa! I already have 3yrs of experience as a project manager! Should I take that decision?
Repeal the UK Climate Change Act 2008 - the world's longest suicide note for a developed economy. It's why UK puts off investors. Woke and green EU is also dying fast. Energy independency is key and cut back on Big Govt regs.
Up VAT to 25%, remove all other taxes, and then institute a 2.5% annual tax on all assets held outside primary residence and necessary vehicles. Simple as. The second corporation tax is gone, GDP surges for 10 years!
It's not easy when a CEO or entrepreneur makes a big multimillion pound salary and is then called a fat cat. In Asia or US, people admire businessmen who become super wealthy but the British act like they are taking advantage of others or are greedy.
No they don't. Both Asia and the US also have plenty of dislike for fat cats. Elections have even been fought with them in the crosshairs. Everyone dislikes fat cats.
It’s interesting. On one hand, these CEOs/entrepreneurs are more likely to invest - increasing productivity. On the other hand, these CEOs/entrepreneur’s are more likely to spend on custom items/services - decreasing productivity. An exclusive cars production has less productivity than a mass produced car. A custom painting isn’t produced productively whereas a print is. The same is true with luxury yachts, mansions etc…
Regardless… if you lived in the UK, would you prefer to be super wealthy (without any admiration) or on the minimum wage in a crappy job? The motivation to become wealthy is still present. A larger issue is that… Some people feel that no matter how hard or smart they work, they won’t get anywhere. While others (who inherited wealth) can be lazy and inefficient without financial consequences. An inheritance tax would reduce these issues.
I have worked sinse I was 16. I am 70 and have not use electric .... as I have to pay for dentist bill £256 in 6 months as that is how long the waiting list is these days...or I could eat as little as is possible, ooh I do that already !... I'm in the UK right? I paid my taxes my Dad paid his taxes ( as a soldier he didn't make it to his pension ) my Mum paid her taxes, she didn't make it to Her pension as She died of a broken heart. ......... lets not keep blaming it all on the poor and the ordinary people. Our so called leaders are Corrupt and have been Corrupt for a very long time, Smell the coffee. Bad Management, Stupidity, piting the population against eachother, Greed and elitest hatred for ordinary working peoples and families. I might be wrong, but not far from the truth for sure. PEACE and Kindness.
The UK needs to integrate into NAFTA to become a conduit between the EU and North America again. Also, the dominance of the finance sector was horrible for regional inequality in the UK. Having a more diversified economy by focusing on manufacturing would be a good thing (even though the UK is unlikely to catch up to Germany anytime soon.) The UK has one of the EU’s strongest renewable energy potential due to the North Sea and Scotland’s wind. Further Public Investment would also help.
Problem is investment would incur debt unless taxes went up, and politically increasing debt is a bit of a no no, but I agree, the uk has a lot of wealth, its just not taxed very well so we could be making big investments (like the USA in green tech atm) but we need to implement wealth taxes on the super wealthy, not the wealthy the super wealthy those with multiple properties and the likes of the utility company bosses who get gigantic bonus checks. WIth that tax revenue we could probably improve the situation, but the investments have to be made long term, UK over the last 15 years has been so short term focussed. we need long term thinking 15 20 yeas in the future thinking.
The UK is dying and it's a situation of our own making. We voted the tories in and have continued to do so since 2010. We are the architects if our own downfall. Much like America and Trump. When you're given the option of a s#*t sandwich or a s#*t sandwich with mayo...you'll go with mayo coz it's easier to digest. Productivity is down because...frankly what's the point? You work 50+ hours a week to SURVIVE, not LIVE. How are you supposed to enjoy life? The UK's problems are vast and varied.
Doesn’t seem to stop you lot flooding over here in the millions? Must be the fact that indoor plumbing and clean drinking water are basic instead of luxuries.
Literally, the UK was only ever important due to all the stuff they were stealing from everywhere else. The moment they stopped being able to just rob their colonies blind, they had to start relying on the more equal but similarly co-dependent relationship with the EU to maintain an illuion of importance. Now that's gone too, the Brits are finally realising that they really are just a mediocre backwater of an island with nothing of inherent value to offer the world other than some basic (though crumbling) infrastructure that is a legacy from better times. Which is literally what England was at the end of the Middle Ages before they started all the colonising.
1) globalisation has gradually reduced UKs manufacturer sectors to almost nothing and brought poverty to many cities 2) bureaucracy has removed the efficiency hence losing competitive edge for most sectors 3)centralised government and revenue system discourage regional competitions 4)a new social cluster comprising greedy financiers and senior company directors has unfairly abused their position to gain financial advantages substantially and pushed property prices up continuely.
They won in the end probably because in the end of both world wars there was somebody who won and didn't really had a reason to punish them. USA couldn't have bad blood against them and so didn't punish them. I am of the opinion that The Versailles treaty was pathetic form of punishment. That is perhaps the 2nd best peace deal just behind my country Bulgaria. We only lost a bit to Serbs and Aegean coast access. Army regulations ofcourse. The only 1s who got shite peace deals were the Austro-Hungarians and Ottomans (sweet ngl). Both empires got obliterated and served death sentence at the end of world war 1. Germany stuck it up Frances ars just a little over 2 decades later. The remnants of both empires could never hope to do the same. They were simply left incapable of fighting any major entente power again. No bad feeling from me for Germany. However I'm just beyond honest and claim they had a light deal. France really didn't have it decent with Germany ending up the 1 it did after ww1. France litteraly had the entire war be on its soil. They end up taking a spit of land from German European territory.
@@stevekook-xw3is You got it all so wrong. Please read: Author Allan Nevins ‘Henri White - Thirty Years of American Diplomacy’ Harper Bro’s., 1930, pp 257 - 258. Also read: Author Dr. Nick Kollerstrom ‘How Britain initiated both World Wars’.
Not a new issue, Scotland and England have been under the same crown since 1603 but a lot of Scots still aren't happy about it. In Wales, people hark even further back to Owain Glyn Dwr fighting against the English. I'm not even going to bother talking about Northern Ireland. The UK is a disunited and unhappy family and it has been so for hundreds of years!
@@AA-hg5fk Scots people never got to vote for it... Upper crust Scots needed a bail out after their misadventures in Latin America so I was told by a Scots man... Other explanations maybe available...
Speaking on the investment issue, I'm a brit that has started a few companies, most have failed, but one succeeded. The limiting factor? Purely investment and geographics. Previous companies were formed in the UK, and raising capital was damn near impossible. The requirements are far too high and appetite for risk far too low, so we setup in the US instead. Investment was more or less immediate and flush and I attribute that to a fundamental difference in culture & institutions. The UK's finance and investment sectors are far too risk averse to consider anything other than a safe bet, and as such have pushed myaelf and several others out of the country in search of greener pastures. It's a sad, sad state of affairs that the immense ingenuity and inventiveness back home is being squandered as a result of such backwards thinking. When everything is accelerating, the UK (and europe) seems hell bent on slamming the brakes.
My opinion, no it’s not. Unless you are studying to do something that requires a university qualification such as medicine or dentistry. The cost of university isn’t worth it. I know plenty of lawyers and accountants that didn’t go to university and instead did an apprenticeship. They get paid to learn and come up with zero debt and usually better jobs that the university graduate can get. University degrees all over the world are just not as valuable as they once were to the employer, at least in the UK.
@@joshbentley2307 you are correct but the wages in UK are almost half of what you get in USA. If I am spending 40k Pound how long would it take to earn it back
@@darthashpie our 🇬🇧gdp per capita (nominal) is around $50,000 in 2023-2024. The USA’s gdp per capita (nominal) is around $80,000 in 2023-2024. You’ve got to keep in mind the USA has much more wealth inequality and billionaires tho, for example the median wealth per adult is $50,000 higher in the U.K. when compared to the USA. It depends on what degree/industry you want to go into. Despite all of the media telling you the U.K. and USA are doing poorly there actually preforming really well, and are expected to grow steadily into the far future. The U.K. just became the world’s 4th largest exporter for example and the USA is pumping massive amounts of investment into itself recently causing thousands of companies all around the world to move there.
@@darthashpie also I don’t know how it works for immigrants but in the U.K. normally you won’t pay any money for your higher education until you reach the threshold, you only start paying it back when your income is over the repayment threshold of £25,000 a year, which is £2,083 a month or £480 a week. Repayments are calculated at 9% (or 9p in every £1) on everything you earn over the threshold.
If everyone in the UK were to buy a paddle and head to the shore, then collectively paddle to move the British Isles southward past Spain and through the Atlantic, we could stop near the equator, just off the coast of Africa. This relocation would significantly improve the weather and, undoubtedly, enhance our economic prospects.
These videos are getting beyond stupid now, especially on topic of uk in last 2 years because they gain views internationally with apocalyptic titles with everything always being a crisis. Truth is, take out all the opinions and look at independent fact based statistics from imf, oecd, etc and uk is growing a tiny bit slower than France (f 0.7 uk 0.5) this year but then is projected to grow faster every single year until 2029 (f 1.4, 1.6, 1.5, 1.4 & 1.3) (uk 1.5, 1.7, 1.7, 1.6 & 1.4). Compared to Germany whose imf projections are from 2024 through 2029 0.2, 1.3, 1.5, 1.1, 0.8 & 0.9 the uk grows faster every single year. None of the three large European countries grow really well, but none are terribly far off the 2% growth per year and uk is probably the best of the 3 going by most recent projections. Gods knows there are things to fix but these absolutely ridiculous videos have gotten completely nonsensical at this point.
I was about to make this comment also. Videos like this are pure gold for all the Indians going on about the old days, and remainders who have not stopped crying about brexit
Very well put! The UK economy outgrew all but two of the G7 countries, both in absolute terms and it terms of GDP per capita between 2010 and 2022 (PPP constant prices). Both the IMF and OECD forecast that this will continue (through to 2029 and 2060 respectively). There is a huge amount of negative commentary about the UK, but very little of it is true or fair. If people really want to focus on those performing poorly, they should look at France, Italy and Japan.
Thatchers reforms of the 80's created the good times in the 90's when we had low public debt. Increased social spending. The uniparty are content to muddle along with no vision of UK 2035.
Thatcher is literally the personification of short-termism. Her policies made things look "good" from an external perspective for a few years, but then the house of cards started falling apart and it's why we ended up where we are now. Very similar to Raegan in the US. Turns out tearing one's own country apart to sell chunks to the highest (foreign) bidders ends up catching up to you one day... Now British train lines are managed by Dutch and French national companies, so Brits buy overpriced train tickets for ever crappier services and who's pocketing the money? European governments! Privatise water companies which are literally inherent monopolies (can't have multiple companies competing in a place with only one set of pipes), now the water company charges however much it wants from consumers without any obligation to use that money to actually maintain a quality of service. Now our water is poisoned, the companies are going bankrupt, the government is going to have to bail them out and take on their debt, and again who is paying for all of that? The tax-payer. But sure, Thatcher was a freaking genius who did amazing things for this country... If you don't know anything about politics, economics or history, then I guess you would think so.
Politicians focus on winning the next election. This means focusing on those who actually vote. Retirees. So there is little incentive to build the economy for the future.
TOO MANY BENEFIT people! thats the most important thing to cut! After that we can losen the taxes, better healthcare...etc. Just cut off all those lazy bun! (I left behind UK to move to Asia and its clear why here things move fast - because people work and dont wait for the state to give them money)
I get it why Britain took part in WWII, but why did you joined up WWI is beyond me. It wouldnt even be WWI without Britain joining up. Play stupid games win stupid prizes I guess.@@joerowland9128
As Mum used to say, "they know the price of everything and the value of nothing". Everything here in the UK is done as shoddily as possible, or not all! so as to extract the most possible profit.
exactly, your comment can't be repeated often enough...
The UK's current government and many major firms are corrupt. Sleazy contracts, stolen money...
She is 💯 right.
Indeed... Why do a proper job when you can keep scamming in perpetuity the tax payer i.e. you and me...
TONY BENN!
Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
Things are strange right now. The US dollar is becoming less valuable because of inflation, and other powerful nations waking up to trade in their own currencies. Good thing is, a lot of people still turn to the Dollar because of the safety is somehow assures. I'm worried about my retirement savings of about $420,000 losing value because of these factors and more. Where else can we keep our money?
I've been in touch with a financial advisor ever since I started my business. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders.
Could you possibly recommend a trustworthy advisor you've consulted with?
“Carol Vivian Constable” is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
I just googled her and I'm really impressed with her credentials; I reached out to her since l need all the assistance l can get. I just scheduled a caII.
But UK has the lowest engineering degree ratio of college graduates among major economies. Manufacturing competitiveness is hard to restore once lost. It takes lots of infrastructure, time, expertise, talents, etc. No country has succeeded in "re-industrialization" after post industrial economy. Even USA couldn't
UK engineers are great at custom high end stuff with deep thinking. That's why you'll find them working everywhere else as the UK market is a bit rubbish. I'm in the USA market and have outsourced a lot - anything difficult goes to UK (or easier to go to UK engineer living somewhere else) but they underprice big time.
Tesla did it
@@MrIcetiger93 Tesla did what. It is struggling now to compete with Chinese EV companies.
Even if you got an engineering degree you won't get a job as an engineer in the UK. And even if you did the wage and conditions will be utterly pitiful.
Why would any country inflict this upon itself that’s what I don’t get
Might I put in a little history?
In 1976 (I was there, then, by the way) a labourer's wage was £40/week or £2,000/year. Beer cost 10p per pint and small houses cost about £4,000 to £6,000. So the wage equalled 400 pints of beer and a house cost 2 or 3 times the annual wage.
NOW (2024) beer costs £4 or £5 per pint; houses average £280,000 and wage.......£27,000 per year. So to equal 400 pints of beer, wages should be £1,600 to £2,000 PER WEEK (£83,200 to £104,000 per year) for a labourer or between £93,000 and £140,000 per year compared to a house.
As they say: "You do the maths!"
Please note that all the real figures above related to someone doing a basic labouring job, such as a Farm worker.
Peace and best wishes, Luke
Cool. Always good to have a peek. My brother and I spent a couple of weeks in London & Scotland, with a great though spendy day trip to Paris on the Eurostar. It was 2010, Boris was Mayor and weekends in the city centre were car-free and bikes VERY encouraged. Travel within what might term the centre of the touristy bits of the city was a Pound on the Tube with a ticket. Cash fare was 2 pounds. Like my brother send, over there, a pound spends like a dollar. But it was well worth it.
One big difference is the state plays a much greater role in housing in Britain than in Canada, so what they save on housing, we save on food...? Comparisons can get complicated. Lots to think about. cheers
It would be also interesting to know the wealth distribution back then compared to now. I don,t really think that back then there was comparatively more money circling around I just think the rich are getting richer and are literally sequestering larger portions of wealth, and because of that the middle class is slowly dying out
Can't agree with your memories. I remember buying a pint in 1976 it was 36p.
Am in Dresden atm. A country that was in the former Eastern bloc. The contrast with the clapped out UK couldn’t be starker
That's what happens when there is not enough regulations and lacking a progressive tax system which results in huge inequalities where most of the wealth goes to the top 1%
everything in britain is short-term whether they are political or economic decisions...
The joys of a democracy. Where we have career politicians whos only stress is the next election. Who cares what I put in place today the next guy can implement it or deal with the backlash as it does not.
@@willsham45 - agreed... it's akin to a pendulum clock...
Yup, the only concern of elected politicians is to stay in power at all costs.
But you are a democracy for a long time. Think it out again 😲
@@Bran9 - more a semi democracy - britain needs proportional representation...
This is not unique to Europe. It's sad how difficult things have become in the present generation. I was wondering how to utilise some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to use what's left to invest, but I don't really know which way to go.
I understand how you feel. It's a little bit difficult to navigate things these days. You don't wanna lose whatever is left. I may suggest that you find a financial advisor who could give you thorough advice on how to go if you want to go the investment route. Also, the fact your business failed doesn't mean you should give up.
That's right. I have tried many failed businesses and it's just a step further. Don't despair. But to add, if you do decide to use a financial advisor, it's best you use someone who understands your special needs and can work with you. I learnt this from experience before finally finding one I can stick with. Now I make six figures from my investments alone, and even more from my businesses.
When you say financial advisor, are you talking about hedge funds? And how do I get in touch with one?
Vivian Carol Gioia is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
The main problem in the UK is depression….its feels like a sick society… everyone depress to clinical level… young and old… 10 million today in a working age r economically inactive.. that they r not working neither looking for a job… one forth of working age population r on benefits… even more scary,, another 10 millions who actually working r suffer from depression, stress and anxiety and chronic pain which is likely due to mental problem… if these 10 millions left work, the UK would bankrupt.. today 23 millions receive social benefit… on average of 15 thousands pound per person..theres no economical module can support this… imagine if these 340 billion of pound spent on benefit would spend on investment, UK would be richer than any other nation… depression in the UK caused by multifactorial causes..weather,, ppl,, regulations and legislations,, social breakdown,, relationship breakdown and economy uncertainty… ppl and the government should work to sort out these issues… apart from the weather which ganna stay miserable forever
A lot of those issues are cronic issues here in the US. Other developed countries too I believe from what I've seen.
I doubt many countries citizens think their nations and lives are going in a postive direction.
Best comment. Cheers from California which is experiencing something similar.
Yep… breakdown of the family by government incentivizing breakups instead of allowing economic pressures to incentivize unity, breaks more than it fixes.
@@baronvonjo1929 Can we stop trying to relate every problem in the world to the U.S?
@@joeschmoe5583 No it's not. California's economy and problems are completely different from Britain's. Y'all hear anything negative in the world and try to relate it back to yourselves.
Britian will become a backwater on the periphery of other Empires again as it once was during the Roman times
It surely seems that way
Why do you speak in the future tense? this is already the case, the British Empire no longer exists since decolonization.
I thought it was already a back water and had been so for many years . Apparently though Eton still teaches the UK has an empire
We seem to have been surfing a slow decline since wwII and covering it with attitudes about our greatness and complaining about Europe.
The population believed the spin and voted Brexit.
Not if they embrace cheap energy. The economy is a heat engine. 🚂 They just discovered 2 to 23 TRILLION tons of coal under the sea near the coast of Britain. Many times more than all the coal that has ever been burned in all of human history. They need to embrace the cheap energy to rebuild industry and get incomes rising again.
There was a classic line from that Chernobyl miniseries a couple years back. That a lie told owes a debt to the truth and in time that debt is paid. There's something similar going on with economic policy in the UK and elsewhere. Since the end of the Cold war. There were certain assumptions made about the economy and what economic growth meant. There have been multiple opportunities to make course corrections or adjustments to that vision to make growth possible in a way that benefits the entire country. Instead, at every single decision point, leaders decided on the choices that enriched a small chosen few. As each missed opportunity stacks up, the UK is now at a point where changing course is going to be very very hard. The interest is coming due.
"at every single decision point, leaders decided on the choices that enriched a small chosen few...." Why? Because they (the rich) wrote the rules aided and abetted by the corrupt politicians... So everything is legal... Simples...
The people that tell the lie benefit from it keep the spoils and move on. Those who remain pay
What do you mean by "that Chernobyl miniseries".... I'd appreciate the clarification, thanks!
@@BiblicalBasics There was a miniseries back in 2019 that appeared on HBO here in the US. You can find clips of it here on YT. It's exceptionally good.
The German economic model only works if you get cheap gas from Russia. Now all their companies are moving to the US
Lol not true. Gas prices are lower than pre war for months now.
because of that red policy of making the EU greener. Everybody FO before it's too late to run away from the red dream.
US blows up NordStream and gets Germany’s companies to move there. Pretty smart.
They're actually moving to the Arabian Gulf and big time too. There, there's one of the cheapest gaz prices and also zero taxes, so very big cash to be made.
The US market works due to their ability to borrow without limit based on Dollar monopoly! This model too would meet its doom soon
It obvious. We pay so much tax yet all public services are privatised
You pay so much tax because your money is in salary not wealth.
@@dangriff12basically the rich get richer and the poor get poorer
Taxes?? You should take a look at the Indian Tax system😢... Yearly tax deduction, gst for products and services and road taxes. Even after paying these many tax amounts, we are not getting any benefits back from the government.. Zero safety for women, corrupted government officers and politicians, Unnecessary religion and caste disputes, Toxic education system and the list goes on... Here the government only works for the people who are rich and powerful..If a person who is rich and powerful committees a crime the government itself will help the criminal to come out of the case ( if you want live example search about Kolkata female doctor's rape case and hatrass rape case)..
The UK is obsessed with the price of domestic property, which is an unproductive
asset. The UK should be more business oriented. Added to which, the fact that the public sector earns more than the private sector is outrageous and will definitely not end well. Too much government, too much regulation, too much tax... >
You didn't mention the UK's non-presence in tech which is a high growth industry and you didn't mention the public sector's lack of productivity as dragging productivity down.
The UK has a massive pressence in tech
@@Lando-kx6so Give me an example
so which eu countries have like a good presence in tech?
@PhilosophicalZombieHunter Arm Holdings which are said to be responsible for 90% of all computer chips.
@@koks49045 Technically, EU/UK suck at tech. Germany has SAP and there is a handful of pockets of innovation. But essentially, the EU is a regulatory powerhouse that killed off innovation on the continent.
I live in the UK and it’s frustrating because I see the potential of my country and how it’s falling behind peer nations.
I have 3 things I would focus on:
1 - reducing energy bills (a great way to start would be to get rid of the short sighted ban on onshore wind power that Cameron brought in, because onshore wind is by far the cheapest form of energy in the UK)
2 - I would create government backed venture capital funds that have the goal of supporting 1000 British based unicorns in the next 10 years (we need growth and startups are by far the best at that)
3 - a massive boost in expanding and modernisation in the rail network and a massive expansion in cycling infrastructure, these would have massive benefits in terms of the climate crisis and improved public health which would then boost productivity.
Good to see positive thinking, instead of blaming everyone else
*Usually it is remoaners blaming BREXIT*
Low taxes, low taxes, low taxes and stop the stupid and unsustainable welfare State.
What about crimes?? Prisoners are in prison enjoying their life... since there are games to play and food to eat. It's no longer a punishment to be in prison. Learn from countries with low crime rates. Why are the crimes rate low??
I fully accept your right to comment and to express your opinion. I ask you grant me the same courtesy.
The climate crisis is not real !
It is used as an excuse for extracting money from hard working people.
Changing the methane in petrol is a classic example. E10 petrol burns faster and more needs to be used on a journey. E5 is better for miles per litre however......surprise, surprise it costs more !
On the climate generally if I took the temperature outside my house today and compared it with a reading taken in the same place exactly 100 years ago I bet it would be exactly the same.
There are arguably too many people on planet earth consuming too many resources and that is maybe where we should start revising our way forward
Respectfully submitted
Ridiculous house prices, coupled with ridiculous stamp duty tax on money you have already been taxed on! Young people forced to drown in debt
Taxes and taxes even taxing on air total scam system
As a software engineer, I am always surprised to learn about the pathetically low salaries in my profession in the UK. A London-based developer could be making one quarter of a similar Silicon Valley developer, and half of a Tel Aviv developer. Sometimes the salaries were even lower than in Ukraine before the war. That's despite the insane London real estate prices and generally high-ish cost of living. At the same time, unlike in Ukraine, developers are not well-paid compared to other UK professions, so the UK doesn't have many of them and cannot become an outsource location. This is just one symptom, but it shows a major issue in the UK: extremely high-productivity jobs are not rewarded.
Gerentocracy. There's a sickening culture here that the highest paid jobs (ie. The salaries that software engineers should be getting) only go to senior management jobs.
That sounds like a reason companies WOULD and do outsource to the UK.
Greedy employers exploiting employees and profiteering culture of UK is very old from colonial times
It's sad really, Britain pumps out some of the most brilliant minds on the planet (they still do, last year most of americas nobel prize winners in physics were educated in Britain for their undergrad, mostly in oxford or cambridge) and yet the industry can't keep up with these people.
The place is an stinking dump. It’s not the island I was brought up in. The place is utterly infested .
Nearly all of our economic problems stem from property prices being too high. Nobody has disposable income anymore.
Stop property prices increasing for the next 10 to 15 years and allow wages to catch up (so average house price are 3x average salary again, instead of 7x), then prevent property prices from ever increasing faster than wages again, which was a stupid idea in the first place.
Nice idea. Unfortunately, the asset owning class regards bricks and mortar to be equivalent to accumulating gold bars, to be priced as high as possible as they're increasingly brought and sold amongst themselves, like bonds, shares and stocks.
Pricing them so high effectively locks them away from regular people, particularly younger people, akin to locking gold bars away in Fort Knox, leaving such people at the mercy of a rental market where demand is high and supply is kept artificially low, along with their parent's willingness to have them dwelling in their basement well into their 40s and beyond.
Case in point: China.
Building entire cities, that noone lives in, was akin to printing gold bars for them. At least until they were overpriced so high that even the top asset owning class couldn't afford to keep buying and selling them anymore, resulting in a loss of liquidity and the economic crash that China's now experiencing.
Homes are way more than 7 times the average salary, surely? If I’m on £25k in the south east, and a crappy flat is about £300k, that’s 12 times my salary. My mum was on £24k in the 80s in her junior office positions, when food, homes and bills were cheaper. We don’t stand a chance today.
@@peanutboxes4076 you’re right, I think it’s 7x for most of the country and closer to 14x if you’re talking about the South East / London.
Almost every major economy has a sky high property prices
@@GarroLegionofOne True, and huge National debts to keep their economies artificially functioning.
Not being an economist; I don’t know if there’s correlation between property prices allowed to rise drastically faster than inflation and everyone being so much poorer. To my mind there seems to be a direct connection.
More money going to banks = less money to spend on local businesses. And when domestic rents and mortgages go up, so do business rents, so it’s a double whammy for them. More expenditure less income.
And business rates works on the principle that if you can afford a high rent, then you must also be able to afford to pay high business rates (not based on actual profit, or success of the business). Spend money improving your commercial premises ? Then we’ll put rates up even further !!
Why isn’t our economy working ? The lunatics have taken over the asylum 🤪
I have to agree from my own experience managers are a menace in UK. And that combined with unions and lack of direction ends up in nothing being done or done very poorly, because everyone just looks at whats now not what will be in the future.. It creates situations where rules in a company make no sense and are slowing down productivity and killing any morale still left.
And throw in all the DEI woke crap to depress intelligent people.
I blame all those presentation slide decks where everything is perfect but does not reflect reality...
@@culaterw41pr Especially the ones where the text enters with a whooosh.
@@culaterw41pr Problem is managers have no incentive or real power to really improve anything. Its not as bad as in Japan system, but its not far behind. Most managers are not even qualified. To stay as a manager its all about sticking with the click, not doing your job correctly. Everyone thats actually doing the work knows whats the issue and how to fix it (most of the time). But it all gets stuck in the middle management for years or never gets done. And if its done it makes things worse as it was more about pleasing someone than doing what makes sense.
@@ExcessumGaming Bonus land beckons ...Stick with the status quo...Nobody ever got fired for sticking with the status quo...
How is productivity going to be high if hard work is penalised with heavy additional taxation? If I want to dig myself out of loans by taking up weekend/ out of hours work I get obliterated by additional tax. Not much incentive in working overtime/outoff hours here.
Exactly. This is the issue in Europe in general. Hideous taxes.
Someone has to pay for all the invaders
High taxes because the big corporates, banks and billionaires have every means of avoiding tax yet expect everyone else to bail out their bad investments when the banks crashed
The British state is almost entirely privatised si quite obviously most of your taxes end up in private pockets as well
The issue is the super rich don't pay so you do. They then invest in massive property bubbles created by the banks issuing ever greater amounts of new money. This pushes up your housing costs further draining your income. Then when the banks crash you have to pay to bail them out
They will have people killing each other in the streets before they give up on this model
@@zuzanazuscinova5209you've forgot that you invaded and terrorized them first.
Very informative video. As a US investor in Britain companies such as British American Tobacco, Unilever amd Legal & General, I like to see where your economy is going.
The lack of productivity is also affecting Canada and why it's right behind you.
Our lack of fiscal responsibility over here in the US will eventually lead the dollar to follow the pound in weakness.
Is too much investment in the UK going into real estate? If yes, is this investment driving efficiency and productivity as much as possible?
How about a vacancy tax on both residential and commercial real estate?
No matter if for a land or a month, an empty property is inefficient use of land, and the building on the land. This means its inefficient use of the materials in the building and the labour that went into making the building.
The empty property tax should be strong enough to force AirBnBs, hotels, motels (and other vacant properties) to be rented on low demand days - even if at a loss.
This will lead to some short term rentals being converted back into long term rentals.
It will make residential and commercial rent cheaper. Giving consumers and businesses more money to spend elsewhere.
And if some investors decide to leave the real estate market, they’ll invest elsewhere (most likely pushing investment into improving productivity).
You’re completely right, the problem is that the biggest land barrons are also the law makers (or best mates with them). In other words, they’re never gonna introduce tax legislation that penalises themselves like that. I’m not sure if UK will ever truly be able to break free from its aristocratic roots and become a true democracy for the people
@@jasonn6739 "I’m not sure if UK will ever truly be able to break free from its aristocratic roots and become a true democracy for the people..." It cannot... Remember its HMG... His Majesty's Government... The name gives the game away...
@@culaterw41pr You mean a republic, there is no such thing as a 'true democarcy' unless you go back to a 5th Century Athenian system where everything is decided by direct voting, even declaring war; I think a representative parlaimentary democracy is the best least worst option!
Yes, the land and living space is used inefficiently. But the big money people compete for these houses and in this big money shift, wealthy people getting wealthier. And poor will anyway stay poor, why care...
Germans invest for the long term.. UK is short term and wants quick results. In addition you have a large section of the population that does not want to work/can't/ or it is not "worth it to them". Go to a developing country and see the people running from place to place,working and delivering. UK doesn't work like like and is not competitive. Sad really
germany invests where it can make the most profit, and take the most advantage overseas. bosch products made in purpose built factories in china, vw buying up cheap skoda in eastern europe, then melding it with vw. their mistake was taking the risk of working with putin on energy, gas, oil etc.
The German football national team has more ngubus than Ghana.
@@catclipcentral He's one of our own, he's one of our own, wir lieben Ngubu, he's one of our own
There are always solutions, just not quick solutions. The solutions are known. Ireland was poor 50 years ago; they did the right things and got rich. The British just need to get down to work, to do the things that attract investments. And consume less, and invest the savings into productive assets.
You have to factor in EU subsidies and US multinationals using the Irish tax system to game the European tax systems... Yes the people did the hard work but the 2 factors I mentioned were very big drivers for success...
@@culaterw41pr Also most importantly, it seems nobody in the UK government currently has a plan which extends into anything even slightly inventive. The government is content basically running things as normal and changing policies minimally, in conventional ways.
Ireland isn't as rich as it seems, it's pretty much a tax haven for large international businesses.
Lol. Ireland is not rich. It's a corporate state.
joined the EU got bailed out, paddys cornershop then had a new bmw on the driveway..thats it!
leprechaun economics.
Your videos are so very well made and break down extremely complex matters into comprehensive language.
Excellent food for the brain!
Many thanks from Sao Paulo
This is what happens when you put a bunch of Eton and Oxford-educated posh boys and posh girls in charge for more than decade, people who studied things like Classics and Philosophy because those subjects mark them out as members of the upper class. As opposed to studying subjects that might be useful for political leaders to know about, such as Economics or International Relations.
Whenever the Tories are in charge, life gets worse for everyone except them.
Correct, except that they have too many Economics graduates as well.
In this world economists aren't taken seriously if not aligned with neoliberalism, so I don't get the point to blame pure subjects like Philosophy. I wouldn't prefer educated monkeys like the economists repeating the same tale by heart
UK was at its financial pinnacle when it avoided free market economics by protectionist measures for the Empire, and specifically for UK within the Empire.
Thatcher began the move away from an economic system that benefited the nation to an ideological (contrary to evidence) neoliberal economy. That FLICKED us big time.
3:44 Labor? Pronounced Labb-or.
That time technology was largely western centric , in today's world that system cant work ...case point would be China , when it was protectionist it was largely poor but right after it opened itself up it grew rapidly. Same with India .
Technology is everywhere these days , who knew a country like Lithuania will create a multi billion dollar unicorn in Europe , that's the case in today's world in matters trade .
If for some reason countries closed off their border and put up barriers , economies will suffer globally the UK included
@@michaelmwalii6878 Premise: free markets benefit the economy:
British Empire: no free market. Premise disproven.
Rubbish! We didn't have an empire when Thatcher was in power so there was no captive market for all our outdated expensive production. Thatcher stopped subsidising the greedy few despite their bully boy tactics
Who would have thought that a private water company will not only add its costs but puts its profitmargin into the final bill...
The British were still an empire back then.
Now the UK is an isolate economy, at least until the free trade deals with India and the US are finished.
My parents bought a 2 bed one box room nothing special semi with no central heating in suburban NW London in 1973. That was £13.5k.
Now worth? £0.5-1.0 million?
Uk is the second most unhappiest country in the world. No wonder with the governments we have had.
That's not true. At all.
@@delgriffithification clearly not aware of the list that's been worked on? Clearly doesn't live in reality.
Source?
Both political parties have the same failing policies. High tax burden on entrepreneurs. IR35 crushing innovation and small startups.
Small business support is zero, plus 100s of rules and strict regulations.
You can only take a loan if you show that you have 10 times the amount. In other words that you don't need money.
5:35 is a weird analysis
the graphs show a deviation from the norm, and you're saying it is 30% behind? this is really hard to relate to actual real numbers.
Brexit was an ABSOLUTE DISASTER for the UK!
Joining the EU was a bad idea.
Brexit disaster was predicted by 48% of referendum respondents
@@trueseeker262 It helped the UK economy grow by over 100% since 1973!! Leaving was a bigger disaster!
Can we correlate anything between people piling investment into the buy-to-let property industry (for quick and easy returns) rather than investing in actual UK industries?
I'm no economist, but investors taking the path of least resistance seems like a recipe for disaster down the line.
I think reversing the financial appeal of investing in buy-to-let, or owning one, can only be helpful as a course corrector.
With added benifits socially too.
BTL landlords will hate this as they dont see the greater game theory in it.
Thoughts?
First problem is basic economic management and honesty. And it's not a left or right issue, it's a matter of integrity and long term thinking. We need to stop running deficits, if the Tories want lower taxes, they need to be honest and lower government spending until there's no deficit, if Labour want high government spending, they need to be honest and raise taxes until there's no more deficit etc.
Similarly they need to stop lying with statistics, increasing GDP by importing a million immigrants a year isn't making people richer, but the government tricks people into thinking "the economy increase in size by 2.5% is the same as "we made you 2.5% better off. No, government should actually be required to tell people about GDP per capita or median GDP per capita, which proves that people aren't really better off at all, and would force the government to stop focusing on "make GDP go up" and instead focus on making Britain more efficient and productive.
They never mentioned massive low wage migrantion year after year after year
Companies don't want to pay more so they are there to bring down wages. Even public sector does it advertising for doctors nurses and care workers in foreign countries instead of paying more to those striking fir higher pay
Yeah, liberally millions of people have arrived from overseas in only a few short years. I'm not really interested in the racist rhetoric, but the mathematical numbers of immigrants should concern any sensible person. If our own youth can't afford housing and get jobs, why are we replacing them with cheap foreign labour in record numbers? Even a blind man can see this is going to obliterate the youth long term. Many are just leaving England now.
Exactly. And high taxes
The UK has too many unskilled people many not in work.
Immigration in Germany is orders of magnitude higher than in the UK. Stop punching down
Relying on services as the main focus of Britain's economy is probably a risky strategy, since the coming AI revolution will probably wipe out many service jobs, in the same way that Amazon has already devastated high street retail outlets.
Most economies are service related except places like China and india
The problem with the financial services, no matter how much money they make in London, they suck the talent, resources and any chance of economic renewal in the rest of the country.
We are STILL in austerity!!!! From 2007. 😮
They won't invest because it would provide a better life, they want to only manipulate you. Social class ceilings everywhere.
The main problem is that the government and the House of Lords are stuck in the 1950s and Great Britain will only advance if the old government is swept away and a new modern system is built upon the old.
Rearranging the seats on The Titanic will not save any more people, just waste the time of people who are destined to sink.
The people must be encouraged to grow on their own, not stifled by regulation or made busy with meaningless activities.
The Crown and The Lords must go and proportional representation established
so the taxes?
@@jillybe1873 - “proportional representation”
Worst decision the US ever made, regarding their Senate moving to proportionate representation, absolute worst.
But the majority not proportional political system gives you just 2 bad options and no solution.
Isn't it ironic that people in "authoritarian" countries like China, Vietnam, Saudi Arabia, Singapore, are happier and more satisfied with their governments and countries directions than people in democracies who are apparently allowed to choose their countries futures.
Authoritarianism has a lot of problems, but the one thing it does have is long-term thinking! If you and your party are going to be in power for the foreseeable future, you can't just make shit up as you go along for 4-5 years and then dip out before the consequences catch up to you. By which point you can just blame the opposition party for it (e.g. Obama getting blamed for Bush's terrible economic policies, then Trump trying to take the credit for Obama's fixes to those issues...). It's ironic that the UK is still a monarchy, because the one potential benefit of that would be having someone overseeing the country for life and therefore actually care about how policies will work out in the long-term... And yet the monarchy isn't even allowed to mutter a single opinion on anything political, but they sure as hell like taking all that tax payer money to fund their estates... It's literally the worst of both worlds. We pay for monarchs and all they do is stand around in stupid clothes and wave at the cameras, meanwhile politicians ruin everything and then go meet with Charlie to tell him all about it and that's that.
America is even sadder, most of our GDP doesn't even come from services but from consumption.
US GDP is heavy on sports and entertainment, lawsuits ( Trump fiasco must add over 100 million to the bottom line), fast food, and the military complex. They don’t make anything productive.
40 years ago, all my art and design professors coming from UK (I'm from HK) were the best trained with best fundamentals. I had dreamt about going to school there to further my design education. What happened?
joined the e.c/ eec/eu.. thats what.
@@jonsimmons4150 lmao the UK was already in the EU 40 years ago, go use google.
@@jonsimmons4150 And your source for this insight is? Absolutely no connection between the education and joining the EU... Education is and always has been controlled locally in all EU countries...
@@jonsimmons4150how's Britain doing after leaving?
@@gabagooom great! my pay is up!. 20%
what do you mean? Everything is going great. Millionaires and billionaires are making money. Why would the government change? They are millionaires and billionaires.
and tax near half of the salary of the average block who is already working like a dog and has no spending power to enjoy himself alone
@@MGrey-qb5xz That's his fault for not employing an OBE (Offshore Banking Expert) account who can move his money around and get him a zero percent tax rate. Taxes only apply to the poor.
I agree that income inequality is a fundamental problem. It has been caused by the inability of the economic system/government to fairly distribute the gains from productivity growth over the last 40 years. It has been further exacerbated by flaws in the tax system that allow the most profitable corporations and highest income individuals to avoid paying their fair share of the taxes needed to support public investment in infrastructure, skills and healthcare that can increase productivity and GDP/capita growth.
In market economies, consumer spending (consumption) represents some 60-70% of GDP. If the consumer has no growth in disposable income, they cannot increase consumption, hence GDP/capita growth stagnates and decreases.
Government leaders and political economists have to recognize the problem and causes before they can even begin to look for an appropriate solution. But, they live in a different economy that derives all the benefits of income inequality; therefore there is no incentive for them to recognize the problem or to take appropriate action.
Who is to blame? The British voters are. They have supported successive governments and policies (Brexit) that have punished private investment.
Brutish used to manufacture so many things now we just import things, we had Sheffield Steele , we built ships , car manufacturers which was sold off to foreign investors also there plenty of builder company’s that would take on apprentices along with technical collages which are gone which has changed the way apprenticeships are.
UK is relaying on demand from EU and China, it seems there is no way out for UK economy
UK productivity north south divide. People have to move to London for the best opportunities which has priced many people out.
we cannot afford houses, food, cars. and the wages dont go up with prices.
i'm 18 and the generations before us commonly dont understand how everything isnt as affordable for us as it was for them - we cant afford a house in our 20s, we can barely afford our first car.
A mate of mine bought a quarter of an acre of land, put a shed on it and lives in it.
He's a manager at a woodcutting workshop, not great but not awful money.
He says it's just to save as much as possible to avoid rent trapping.
I quietly crunched the numbers and IF house prices stay static he'll be able to afford a down-payment in 15 years.
A manager has to live in a wooden shack for one and a half decades to ever BEGIN owning a home.
At this point if the army rolled tanks into Downing Street and gave a military junta a shot I wouldn't care a jot.
The country who ruled the whole world is reached at the point even their own country is on the collapse
I'm 28, I was studying at a University in Glasgow, Scotland, worked in london for 2 years. Soon realised UK isn't worth it anymore. I Left in January. Reasons as follows: Terrible Healthcare, high taxes, expensive housing, Unnecessary paperwork even for skilled expats. I have 3 jobs offers now, 1 from AUZ, 1 from Germany and 1 from Dubai. Mind you I am a pretty good AI engineer. The govt's agenda to penalize legal immigrants and give free food/ housing to illegal immigrants is so unfair. I have seen it in London which is full of illegal migrants, while I was paying all the taxes, visa fee, immigration fee and still had to wait for weeks to get a doctor's appointment. The economic collapse doesn't happen all of a sudden (like falling from a ceiling), it happens in a gradual sense, slowly and steadily. British economy is on the same trajectory. British are one of sweetest people, I can't say the same thing about their govt though.
Same here, I started in 2018 in Glasgow Caledonian Uni in engineering. After graduation 2 years in London. In may I moved from UK. Shit job market, everything is short term, everyone are psychopathic liers, and renting a room cost you a 40% of your salary after tax + you need to get along with stupid flatmates
Look to small countries that have thrived and created wealth for all their citizens. Singapore got it right under strong visionary leadership from Lee Kwan Yew. Low taxes, incentives for entrepreneurs, a culture of rewards for hard work, and as the great man said " we want engineers and scientists, not fruit pickers". The socialist culture in the UK has sent the country into terminal decline.
Mass Deportations is a policy that can cure many ills; if the economy needs low skill workers then we don't need compulsory education up to aged 18 & if we need medical professionals we shouldn't keep restricting the numbers of those being trained.
We are a relatively small country & historically have punched above our weight because of quality over quantity produced by broadminded curiosity & a high social tolerance for thorny eccentrics developing in an ecosystem of high social trust & high standards of education & enquiry; so we should get back to that.
💯🎯👏👏👏 yes! We are wasting billions and decimating our resources and economy by allowing these people in, expecting us to pay for their lifestyle.
Mass deportations where? To Australia?!
The politics of the UK just isn't changing.
We are still having to choose between Labour and the Conservatives who are not running society for the many who make up the real economy.
Just who or what is the real economy now?
The UK has been "hijacked" for the wealthy and the rest are having to pay for their ridiculous greed.
Running society simply to maximize wealth inequality is a massive problem not being addressed globally, including in the UK.
Its got silly, the super-rich are simply rewarded for having wealth such that investing in the so called "real economy" doesn't even pay them.
Its been made that ridiculous by politicians who are not interested in actual solutions that would actually make the world safer and better place for more of us, not less.
For example, the conservatives and labour just continue to artificially inflate the land and property prices by not building "homes" which are now referred to as "assets" (e.g., this is why your high street is all boarded up and rents have increased). They continue to run a non-progressive tax system and centralize power and wealth, using this to leverage even more for the wealthy through quantitative easing and inflating deficit borrowing.
The premium for everything including food continues to rise because of wealth inequality which politicians support growing.
The politics of the UK just isn't changing.
Joining the EU will only compound the problem, so that's no solution in truth, despite some people wanting to believe that it is.
I say, lets have 20 years of progressive wealth distribution back to the many and then review the situation.
Raid offshore holdings to address the debt we are having to pay for.
Ban multi-millionaires when it gets to 3 million.
Nationalize all super yachts.
Don't let the wealthy claim the state pension as they don't need it.
Make those with a property portfolio house at least 2 homeless people mandatory.
Lets try 20 years of that, then review the situation
🙂
I am surprised nobody sees unelected rulers as the probelm. May be that's the problem or part of it... a rather BIG part of it 🤔
Sort of agree, although not for directly political reasons. A country that in the 21st centurry still holds on to a monarchy -- and a very expensive one at that -- is clearly a country not ready to live in the present, much less one trying to move toward the future. If the nation's consciousness is still trapped in the "glorious" past of kings and empires (the latter being a major reason for the cognitive dissonance Brits experience about their relative importance in the world), then they can't properly evaluate their current situation as a middle income nation with no resources and little diplomatic reach, and make realistic plans to improve things. And meanwhile people are too used to their "keep calm and carry on" mentality to really fight for real change or even dare imagine what that change can look like. They just complain to each other over their too many pints of beer then go home to sleep in their poorly insulated houses and then start over again the next day.
Brexit was about the UK having more autonomy to create their own regulations and make bilateral agreements -- except they forgot that they have nothing of value to sell to the world, as even their "services" are basically just middling office jobs that are easily replaced by any degree holding worker anywhere else. Brits thought they could stand alone as a world power, forgetting that they haven't been a world power since the end of their empire and it was just their membership in the EU that maintained that illusion for so long. Now it's time to wake the hell up. And yes, I believe that a history of monarchy means that the social consciousness is prepped for just accepting crappy political situations without feeling a sense of personal responsibility to do something about it, hence why it keeps getting worse.
@g_wylde That was kind of what I had meant, but it's not the popular opinion in this neck of the woods 😊
@@g_wylde I disagree that the UK's problem is hinged upon its Monarchy. That makes no sense at all as the existence of the Monarchy is the reason why tourism still thrives in the UK. I'm Nigerian and I can tell you, you NEED that Monarchy to survive else, you won't be any better than Greece or Hungary.
Blame the perfect welfare state.
I don’t know the answers, which is why I watched your video. A nice accessible summary, thank you.
😂😂😂, thought Rwanda refugees was their only problem, I hear about that daily, than their real problems affecting the country.
That is what is known as a distraction. It works well in the UK where the population lack critical thinking skills.
It’s insane how obvious the solution to the issue is. Housing. How can there be innovation and productivity when everyone’s money is being flushed into an asset that only appreciates the less you allow other people to have/make. It’s sad and lazy. It’s Idiotic where we are at now and was so predictable and easy to see coming.
The British public are too easy to fool hence we will remain a reliable battery funnelling money to mega wealthy as standards of living plummet through the floor.
We have a situation where young people are saying “what’s the point in working when I’ll see nothing from it?”. I don’t agree with that mindset personally but I get it because what exactly is the benefit of working hard with the way things currently are?
Burst the bubble for good. Until the country concedes that housing should not be for profit and allow disposable income to actually be used on things that will grow the economy we will be stuck.
Imagine a UK where instead of funnelling money into property that does nothing, the expectation was that the UK public reliably park a good amount of savings into some sort of UK index that funds British companies and companies that that have a strong presence here. The same foreign money that’s being used to dominate the housing market could be used to pay decent wages and fuel economic growth for said businesses.
Imagine how many entrepreneurial ideas that have gone by the wayside because rent and mortgages are people’s primary focuses.
Lack of kids and aging population...this is the problem in all of Europe.
Makes all the anti migration rhetoric seem ironic. If the home office hurried up and processed valid asylum claims, both those problems could be partially mitigated.
@@nathansavage8692 Or we could make it affordable for people to survive at all, then maybe they could scrape by the money to have kids? No?
@@CandyKoRnencouraging childbirth solves the problem 2 decades down the line. Migration does it tommorrow.
@@nathansavage8692 Yes but migration also presents issues later down the line like integration. It doesn't just "solve the problem."
Not only Europe. It is a global phenemon, including China and excluding India.
Everything is created for the short-term thinking in stockmarket like importing low educated people from totally different cultures to lower production costs but never regard the long-term cost on society
Maybe Brexit was a bad idea.
The UK economy has still been doing better than Germany. Brexit is not the issue. Our problems sadly are far more deep rooted and multifaceted .
Germany maybe, Europe, no, almost all economies in Europe outperform Britain or Germany.@@mikerathers
Maybe not. British govt likes red tape and paperwork.
The slowdown precedes Brexit.
But it was a bad idea
Nope theres no hope.
They pointed to the EU for their faults and got Brexit done.
Everything got worse.
Theres no way out
means their style is no longer working
The Problem for GB severe greater because the Service Sector will be replaced by KI .
I can safely say that the country is decaying, just by comparing the prices of the two countries Germany and the UK let's say. In the city of Berlin in Germany you can still find a nice and affordable studio apartment for 550-600e, while for the same price in the UK you can't barely find a nice room in shared accommodation, not to mention that the salaries in Germany are also much higher.
I just read an article called "Is the UK Becoming A Third World" Country in The Luxury Playbook that says exactly what you describe and goes even more in depth. Unfortunately we are doomed.
UK could become part of Indian Empire. Their prime minister is already Indian. All they need is marry one of their princesses to a Raj in India. And wala, Indian Empire in EU.
How would that make India get into the EU? Aren't you forgetting a pretty major thing that happened the UK, that makes that impossible?
Well I suppose one advantage of the service sector is that it's not quite as heavy on extortionate energy costs as the manufacturing sector. For those employed in the these hi-flying careers in the service sector they are probably going to be ok but what about everyone else? It seems that under this thesis you COULD have a thriving service sector in isolation from everything else going on in UK society. Lack of affordable homes to buy or rent and lack of affordable energy are huge problems aren't going away anytime soon which leads to what we have which is a TWO TIER society in which the hi-flyers get the nice homes and everyone else has appalling living conditions. This dystopia already exists in our capital with raging unpredictable often life threatening crime day and night, raging flag waving mobs every weekend , a few nice homes and housing conditions for the high flyers and terrible housing conditions for everyone else. This video is far too narrow and blinkered in scope for my taste and fails to address the wider problems that form the seeds of a revolution. We are already in the throes of some sort of revolution as it is although whether it remains one controlled by the hard left in the years ahead as does at present remains to be seen!
How come the United Kingdom, so democratic, tumbling down
economically ？
House of Lords is hardly democratic
It's not a Democracy it's a (not so) cleverly disguised Dictatorship
I am planning to do IT project management from uk which will give 2 yrs of psw visa!
I already have 3yrs of experience as a project manager!
Should I take that decision?
Good video, could you do an analysis on Czechia 🇨🇿 I’m interested what you have to say 😊
Isn't the Czech Republic an economic colony of Germany? There is no need to analyze the Czech Republic, just analyze Germany.
Repeal the UK Climate Change Act 2008 - the world's longest suicide note for a developed economy. It's why UK puts off investors. Woke and green EU is also dying fast. Energy independency is key and cut back on Big Govt regs.
don't be stupid, using nuclear power you can cut CO2 and produce energy efficiently
Up VAT to 25%, remove all other taxes, and then institute a 2.5% annual tax on all assets held outside primary residence and necessary vehicles. Simple as. The second corporation tax is gone, GDP surges for 10 years!
jesus this so much
@@MGrey-qb5xz It's about 10,000 pages simpler than the current tax code. What more can you ask for?
100, million population dosent help on a tiny island with 1,000s of people arriving evryday
don't wanna nit pick here but a century ago is after WW1 and after WW1 New York has replaced London as the economic center of the world.
It's not easy when a CEO or entrepreneur makes a big multimillion pound salary and is then called a fat cat. In Asia or US, people admire businessmen who become super wealthy but the British act like they are taking advantage of others or are greedy.
No they don't. Both Asia and the US also have plenty of dislike for fat cats. Elections have even been fought with them in the crosshairs. Everyone dislikes fat cats.
The trouble is is that in most countries, if a company has a bumper year, everyone gets a raise wheras in the UK, only the CEO seems to.
Brits earn half the amount of American workers in the same job. Skilled wages are terrible here
It’s interesting.
On one hand, these CEOs/entrepreneurs are more likely to invest - increasing productivity.
On the other hand, these CEOs/entrepreneur’s are more likely to spend on custom items/services - decreasing productivity.
An exclusive cars production has less productivity than a mass produced car. A custom painting isn’t produced productively whereas a print is. The same is true with luxury yachts, mansions etc…
Regardless… if you lived in the UK, would you prefer to be super wealthy (without any admiration) or on the minimum wage in a crappy job?
The motivation to become wealthy is still present.
A larger issue is that…
Some people feel that no matter how hard or smart they work, they won’t get anywhere.
While others (who inherited wealth) can be lazy and inefficient without financial consequences.
An inheritance tax would reduce these issues.
Get out, Australia has just had its 3rd federal budget surplus, it spends 15% more per person GDP.
Did you get a 15% salary increase?
1. Need Cheap Energy
2. Need property investments that are reasonably profitable, but not excessively so
Why do you need cheap energy? Is there any industry in Britain?
I have worked sinse I was 16. I am 70 and have not use electric .... as I have to pay for dentist bill £256 in 6 months as that is how long the waiting list is these days...or I could eat as little as is possible, ooh I do that already !... I'm in the UK right? I paid my taxes my Dad paid his taxes ( as a soldier he didn't make it to his pension ) my Mum paid her taxes, she didn't make it to Her pension as She died of a broken heart. ......... lets not keep blaming it all on the poor and the ordinary people. Our so called leaders are Corrupt and have been Corrupt for a very long time, Smell the coffee. Bad Management, Stupidity, piting the population against eachother, Greed and elitest hatred for ordinary working peoples and families. I might be wrong, but not far from the truth for sure. PEACE and Kindness.
The UK needs to integrate into NAFTA to become a conduit between the EU and North America again.
Also, the dominance of the finance sector was horrible for regional inequality in the UK.
Having a more diversified economy by focusing on manufacturing would be a good thing (even though the UK is unlikely to catch up to Germany anytime soon.)
The UK has one of the EU’s strongest renewable energy potential due to the North Sea and Scotland’s wind.
Further Public Investment would also help.
I agree. We need to develop the renewable energy potential in the North Sea!
Problem is investment would incur debt unless taxes went up, and politically increasing debt is a bit of a no no, but I agree, the uk has a lot of wealth, its just not taxed very well so we could be making big investments (like the USA in green tech atm) but we need to implement wealth taxes on the super wealthy, not the wealthy the super wealthy those with multiple properties and the likes of the utility company bosses who get gigantic bonus checks. WIth that tax revenue we could probably improve the situation, but the investments have to be made long term, UK over the last 15 years has been so short term focussed. we need long term thinking 15 20 yeas in the future thinking.
The UK is dying and it's a situation of our own making.
We voted the tories in and have continued to do so since 2010.
We are the architects if our own downfall. Much like America and Trump. When you're given the option of a s#*t sandwich or a s#*t sandwich with mayo...you'll go with mayo coz it's easier to digest.
Productivity is down because...frankly what's the point?
You work 50+ hours a week to SURVIVE, not LIVE. How are you supposed to enjoy life?
The UK's problems are vast and varied.
Let's be real, immigration has put a wound in this country where its beyond repair.
Uk economy is broken yet they lesson overseas students how to run econ when they return to home country. This is something 😢
Now that all the loot money is over they are struggling
Doesn’t seem to stop you lot flooding over here in the millions? Must be the fact that indoor plumbing and clean drinking water are basic instead of luxuries.
Literally, the UK was only ever important due to all the stuff they were stealing from everywhere else. The moment they stopped being able to just rob their colonies blind, they had to start relying on the more equal but similarly co-dependent relationship with the EU to maintain an illuion of importance. Now that's gone too, the Brits are finally realising that they really are just a mediocre backwater of an island with nothing of inherent value to offer the world other than some basic (though crumbling) infrastructure that is a legacy from better times. Which is literally what England was at the end of the Middle Ages before they started all the colonising.
Pillock.
That's why they are in gaza
@gaz9957
oh yeah, add racist tendencies like the thread above portrays
1) globalisation has gradually reduced UKs manufacturer sectors to almost nothing and brought poverty to many cities 2) bureaucracy has removed the efficiency hence losing competitive edge for most sectors 3)centralised government and revenue system discourage regional competitions 4)a new social cluster comprising greedy financiers and senior company directors has unfairly abused their position to gain financial advantages substantially and pushed property prices up continuely.
In the end Germany won anyway, despite everything.😂
Please comment an angry retort below:
They won in the end probably because in the end of both world wars there was somebody who won and didn't really had a reason to punish them. USA couldn't have bad blood against them and so didn't punish them. I am of the opinion that The Versailles treaty was pathetic form of punishment. That is perhaps the 2nd best peace deal just behind my country Bulgaria. We only lost a bit to Serbs and Aegean coast access. Army regulations ofcourse. The only 1s who got shite peace deals were the Austro-Hungarians and Ottomans (sweet ngl). Both empires got obliterated and served death sentence at the end of world war 1. Germany stuck it up Frances ars just a little over 2 decades later. The remnants of both empires could never hope to do the same. They were simply left incapable of fighting any major entente power again. No bad feeling from me for Germany. However I'm just beyond honest and claim they had a light deal. France really didn't have it decent with Germany ending up the 1 it did after ww1. France litteraly had the entire war be on its soil. They end up taking a spit of land from German European territory.
@@stevekook-xw3is 👍
Culture will always dominate.
@@tabithan2978 that seems like a shortsighted observation(in my opinion).
@@stevekook-xw3is You got it all so wrong. Please read: Author Allan Nevins ‘Henri White - Thirty Years of American Diplomacy’ Harper Bro’s., 1930, pp 257 - 258. Also read: Author Dr. Nick Kollerstrom ‘How Britain initiated both World Wars’.
So no pay increase for years! Yet everything has gone up. Why? 2:07
It's now the DK: Disunited Kingdom
(dis)UK...
Need to get my DUK car sticker then...😀😀😀
Not a new issue, Scotland and England have been under the same crown since 1603 but a lot of Scots still aren't happy about it. In Wales, people hark even further back to Owain Glyn Dwr fighting against the English. I'm not even going to bother talking about Northern Ireland. The UK is a disunited and unhappy family and it has been so for hundreds of years!
@@AA-hg5fk
Scots people never got to vote for it...
Upper crust Scots needed a bail out after their misadventures in Latin America so I was told by a Scots man...
Other explanations maybe available...
Speaking on the investment issue, I'm a brit that has started a few companies, most have failed, but one succeeded. The limiting factor? Purely investment and geographics. Previous companies were formed in the UK, and raising capital was damn near impossible. The requirements are far too high and appetite for risk far too low, so we setup in the US instead. Investment was more or less immediate and flush and I attribute that to a fundamental difference in culture & institutions. The UK's finance and investment sectors are far too risk averse to consider anything other than a safe bet, and as such have pushed myaelf and several others out of the country in search of greener pastures. It's a sad, sad state of affairs that the immense ingenuity and inventiveness back home is being squandered as a result of such backwards thinking. When everything is accelerating, the UK (and europe) seems hell bent on slamming the brakes.
Is it a good time to pay high tution fee and study in UK? Is the ROI good?
My opinion, no it’s not. Unless you are studying to do something that requires a university qualification such as medicine or dentistry. The cost of university isn’t worth it. I know plenty of lawyers and accountants that didn’t go to university and instead did an apprenticeship. They get paid to learn and come up with zero debt and usually better jobs that the university graduate can get. University degrees all over the world are just not as valuable as they once were to the employer, at least in the UK.
U.K.’s higher education is only rivalled by the USA.
If you’re looking for higher education the U.K. is a fantastic option.
@@joshbentley2307 you are correct but the wages in UK are almost half of what you get in USA. If I am spending 40k Pound how long would it take to earn it back
@@darthashpie our 🇬🇧gdp per capita (nominal) is around $50,000 in 2023-2024.
The USA’s gdp per capita (nominal) is around $80,000 in 2023-2024.
You’ve got to keep in mind the USA has much more wealth inequality and billionaires tho, for example the median wealth per adult is $50,000 higher in the U.K. when compared to the USA.
It depends on what degree/industry you want to go into.
Despite all of the media telling you the U.K. and USA are doing poorly there actually preforming really well, and are expected to grow steadily into the far future.
The U.K. just became the world’s 4th largest exporter for example and the USA is pumping massive amounts of investment into itself recently causing thousands of companies all around the world to move there.
@@darthashpie also I don’t know how it works for immigrants but in the U.K. normally you won’t pay any money for your higher education until you reach the threshold, you only start paying it back when your income is over the repayment threshold of £25,000 a year, which is £2,083 a month or £480 a week. Repayments are calculated at 9% (or 9p in every £1) on everything you earn over the threshold.
If everyone in the UK were to buy a paddle and head to the shore, then collectively paddle to move the British Isles southward past Spain and through the Atlantic, we could stop near the equator, just off the coast of Africa. This relocation would significantly improve the weather and, undoubtedly, enhance our economic prospects.
These videos are getting beyond stupid now, especially on topic of uk in last 2 years because they gain views internationally with apocalyptic titles with everything always being a crisis. Truth is, take out all the opinions and look at independent fact based statistics from imf, oecd, etc and uk is growing a tiny bit slower than France (f 0.7 uk 0.5) this year but then is projected to grow faster every single year until 2029 (f 1.4, 1.6, 1.5, 1.4 & 1.3) (uk 1.5, 1.7, 1.7, 1.6 & 1.4). Compared to Germany whose imf projections are from 2024 through 2029 0.2, 1.3, 1.5, 1.1, 0.8 & 0.9 the uk grows faster every single year. None of the three large European countries grow really well, but none are terribly far off the 2% growth per year and uk is probably the best of the 3 going by most recent projections. Gods knows there are things to fix but these absolutely ridiculous videos have gotten completely nonsensical at this point.
I was about to make this comment also. Videos like this are pure gold for all the Indians going on about the old days, and remainders who have not stopped crying about brexit
@@simonnewman4240 lol, we arent doing amazing but these ppl really know how to spin it badly
Very well put! The UK economy outgrew all but two of the G7 countries, both in absolute terms and it terms of GDP per capita between 2010 and 2022 (PPP constant prices). Both the IMF and OECD forecast that this will continue (through to 2029 and 2060 respectively). There is a huge amount of negative commentary about the UK, but very little of it is true or fair. If people really want to focus on those performing poorly, they should look at France, Italy and Japan.
The last point about reforming the tax system to penalise consumption is one of the stupid ideas I’ve heard this month.
Thatchers reforms of the 80's created the good times in the 90's when we had low public debt. Increased social spending. The uniparty are content to muddle along with no vision of UK 2035.
Thatcher had 9 million unemployed. People died of starvation.
Thatcher is literally the personification of short-termism. Her policies made things look "good" from an external perspective for a few years, but then the house of cards started falling apart and it's why we ended up where we are now. Very similar to Raegan in the US. Turns out tearing one's own country apart to sell chunks to the highest (foreign) bidders ends up catching up to you one day... Now British train lines are managed by Dutch and French national companies, so Brits buy overpriced train tickets for ever crappier services and who's pocketing the money? European governments! Privatise water companies which are literally inherent monopolies (can't have multiple companies competing in a place with only one set of pipes), now the water company charges however much it wants from consumers without any obligation to use that money to actually maintain a quality of service. Now our water is poisoned, the companies are going bankrupt, the government is going to have to bail them out and take on their debt, and again who is paying for all of that? The tax-payer.
But sure, Thatcher was a freaking genius who did amazing things for this country... If you don't know anything about politics, economics or history, then I guess you would think so.
3:48 - 'Labor' productivity - WTF?!
Not impressed.
Corruption and bad food are the reasons 👍
Politicians focus on winning the next election. This means focusing on those who actually vote. Retirees. So there is little incentive to build the economy for the future.
TOO MANY BENEFIT people! thats the most important thing to cut! After that we can losen the taxes, better healthcare...etc. Just cut off all those lazy bun! (I left behind UK to move to Asia and its clear why here things move fast - because people work and dont wait for the state to give them money)
the crazy part is that the UK is hell bent on reducing it's education export.
$45 Trillion was taken from India by Britain over 200 years of rule
Really hard to quantify that.
200 years ago
Did you forget about WWW1 and WW2 which devastated the whole world economy
That's when we lost the £45 Trillion
I get it why Britain took part in WWII, but why did you joined up WWI is beyond me. It wouldnt even be WWI without Britain joining up. Play stupid games win stupid prizes I guess.@@joerowland9128
traded.
typo..
Simple arithmetics.
Just adding my two cents - energy costs are also to high, it is difficult to make anything in the UK competitively