IMF openly criticises UK government tax plans as pound plummets - BBC News

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  • Опубліковано 27 вер 2022
  • The International Monetary Fund (IMF) has openly criticised the UK government over its plan for tax cuts, warning that the measures are likely to fuel the cost-of-living crisis.
    In an unusually outspoken statement, the IMF said the proposal was likely to increase inequality and add to pressures pushing up prices.
    Markets have already raised alarm over the plans, sending the pound plunging.
    Please subscribe HERE bit.ly/1rbfUog
    #Economics #Pound #BBCNews

КОМЕНТАРІ • 1,1 тис.

  • @sammy-the-crab4107
    @sammy-the-crab4107 Рік тому +189

    I've never seen a government fail this badly so quickly, it must be a record

    • @maywalker997
      @maywalker997 Рік тому +11

      The bigger problem is that we might not recover from this even after the Tories have been ousted.

    • @a_nayak
      @a_nayak Рік тому

      IMF and World Bank give us AID from the funds collected from countries who loot us for 200 years. I mean You colonizers give loan( which is our money for interest.)
      India was 1/4th of world economy. Titanic movie shows how British, Portuguese and French migrated to USA with the unthinkable amout of money and gold that they looted from mostly India and Africa.

  • @MashoodSabir
    @MashoodSabir Рік тому +210

    This is the first time I have seen that the IMF has openly criticized a g7 country's economic policy.

    • @freddiestranger9783
      @freddiestranger9783 Рік тому +2

      OKAY GIVE YOUR LIFE TO THE LORD JESUS CHRIST

    • @thomasparkin259
      @thomasparkin259 Рік тому +13

      To be fair I'm not sure many G7 nations have responded to an economic crisis after 12 years of tax and public spending cuts with wildly wealthy favouring tax cuts and taking loans.
      Generally loans are fine if used to fuel growth.
      However this isn't creating infrastructure, this is just hoping rich people will invest money.

    • @robertosborne7542
      @robertosborne7542 Рік тому +2

      @@freddiestranger9783 Wrong comment section-sky fairies elsewhere.Btw there is no god,just so you know.

    • @MrPikkoz
      @MrPikkoz Рік тому +2

      @@thomasparkin259 "However this isn't creating infrastructure, this is just hoping rich people will invest money" agreed and the latter part is even more shake than in the past as especially looking at the reality of brexit and teleworking.

    • @MashoodSabir
      @MashoodSabir Рік тому

      @@MrPikkoz I'm sure uk will bounce back, they are a very strong economy :D and one of the strongest in the world. I just think this was really unexpected and a massive drop in the value of the pound in such a short time,

  • @djsmithe
    @djsmithe Рік тому +223

    A government borrowing money and giving it to millionaires and billionaires is a bad thing?
    Who would have thought?

    • @CrowTails88
      @CrowTails88 Рік тому

      Remember the statement::: you will own nothing & B happi ,,, it’s still a Re::::Set just different puppets in charge ,, 💰💰💰 is going , getting replaced by digital 💰💰💰 every action these puppets do will have a greater reaction like when the 🏦🏦🏦 go 💥💥💥

    • @Battleneter
      @Battleneter Рік тому +4

      The UK government is not really "borrowing money" the UK Reserve Bank is printing even more money ( in the 10's of billions) and so called buying government bonds, there is no real borrowing involved, its the UK lending money to the UK. Of course this excessive money printing devalues the pound even further and pushes up inflation which is "effectively" a additional tax.

    • @beewhy001
      @beewhy001 Рік тому +6

      That's exactly what Nigeria did. Who would have thought UK is the same 🤣

    • @julien1
      @julien1 Рік тому

      @@Battleneter With everything privatised any 'new' money just ends up in shareholders pockets.

    • @Mizzkan
      @Mizzkan Рік тому

      @@beewhy001 But Nigeria is awful ….

  • @gdewyg
    @gdewyg Рік тому +306

    Uk is not suffering from economic crisis but leadership crisis

    • @notjustforhackers4252
      @notjustforhackers4252 Рік тому +12

      Indeed. Tory and Labour entrapment. Vote 'em out, all of 'em.

    • @Sam-rb1sj
      @Sam-rb1sj Рік тому

      I’m £10k richer thanks to this government. I think they are doing a great job! Next we need to cut benefits and close the border to asylum seekers.

    • @shootimblue
      @shootimblue Рік тому +3

      They don't have a clue this country is crumbling to be honest

    • @edwardbrady5843
      @edwardbrady5843 Рік тому

      You better believe its an economic crisis caused by brexit and made worse by this idiot boy of a Chancellor.

    • @MrJenklns
      @MrJenklns Рік тому +2

      Tell us news not history

  • @EliF-ge5bu
    @EliF-ge5bu Рік тому +180

    Well Truss and Kwarteng certainly earned their place in history. Historians and economists will be talking about this disaster for centuries to come.

    • @davidcedric7424
      @davidcedric7424 Рік тому

      Hello Eli. How are you doing ??!

    • @gr8macaw1
      @gr8macaw1 Рік тому

      I dont understand their plan. The Sky news UK is streamed here in the US. This hair brained policy is what the US has been doing out here for decades. The rich pay no taxes trillions were given out to fraudulent corporations. We have huge amounts of homeless people sleeping in tents. The government has borrowed so much money we are about to crash. This is just a ploy to cut medicare, social services etc., then they think they can cut all benefits to the poor heavens help us out here if those corrupt politicians the republican, the tory party to you. Yes their plan is a nightmare and yes Liz it has been tried before.

    • @dragon.fromindia3235
      @dragon.fromindia3235 Рік тому +1

      Europe should go for their own digital currency...And save paper

    • @dragon.fromindia3235
      @dragon.fromindia3235 Рік тому

      Give away dollars and take it back gold and silver...

    • @CrowTails88
      @CrowTails88 Рік тому

      How the 🐑 forget the statement::: you will own nothing & B happi ,, it’s all part of plan to implement the digital 💰💰💰 but 1st every action needs a reaction,,,, 💥🏦💥🏦💥🏦💥 we will all live in a technological prison but keep arguing amongst yourselves 🤣🤣🤣🐑🐑🐑

  • @joefreeman3772
    @joefreeman3772 Рік тому +62

    You know you're bad when the IMF criticizes you for "increasing inequality"

    • @ssuwandi3240
      @ssuwandi3240 Рік тому +1

      Well she's part of WEF.. but Sweden Italy and Hungary will escape..

    • @lestrem11
      @lestrem11 Рік тому

      TheIMF have never even ‘right’ on anything. Keep up.

  • @thesunshinehome
    @thesunshinehome Рік тому +198

    she's only been prime minister for about 2 weeks and she's already ballsed up the entire economy lol

    • @khanhcao3123
      @khanhcao3123 Рік тому

      She is a plant, nothing will change

    • @justsayen2024
      @justsayen2024 Рік тому +15

      Closer to one week when you consider the Queen's funeral.

    • @MrJenklns
      @MrJenklns Рік тому

      Even the Nazi luftwaffe failed to do that with constant air raids over the UK for years 🤔

    • @DioBrando1996v
      @DioBrando1996v Рік тому

      She did more damage in a few weeks than what Boris Johnson had done in his 3 year term as prime minister. Which is saying a lot since Boris johnson is one worst prime minister's this country has ever seen.

    • @marktn9851
      @marktn9851 Рік тому +1

      Is she that good!

  • @BTG07
    @BTG07 Рік тому +208

    Well that confirms it, Liz Truss went to Erdogan school of economics. What genius we have in the government right now.

    • @JockelBacke
      @JockelBacke Рік тому +17

      she rather studied in greece where the whole country ran bankrupt

    • @Sandy-qs5og
      @Sandy-qs5og Рік тому +2

      Exactly 😅

    • @MrJenklns
      @MrJenklns Рік тому

      She is a renagade ship jumping Libdem remainder

    • @bbcisaids6727
      @bbcisaids6727 Рік тому +1

      The euro has tanked,as has the dollar! This is a global recession started by... biden ,the cost of lockdowns

    • @DioBrando1996v
      @DioBrando1996v Рік тому +28

      Sad thing is Rishi said it to her multiple times during the debates about her ridiculous her policies were and she never listened

  • @FAVanguard
    @FAVanguard Рік тому +280

    For the IMF to break their silence and comment on a G7 country's economic policy says a lot about the incompetence of the Torys, Any economics student could've told them not to do this in an inflationary period.

    • @jasonkingshott2971
      @jasonkingshott2971 Рік тому +1

      ....'Tories'.

    • @piccalillipit9211
      @piccalillipit9211 Рік тому

      Apparently, it was starting to infect American financial institutions

    • @bbcisaids6727
      @bbcisaids6727 Рік тому

      You mean globalists, like schwab, eu, biden,

    • @JamesSmith-qs4hx
      @JamesSmith-qs4hx Рік тому

      It's like watching the bell curve in action in real time, isn't it!

    • @adamkaan8025
      @adamkaan8025 Рік тому +1

      These absurd decisions are being made in many countries. This economic enivironment is worldwide. It seems as though its a plan to destroy the world economy and create a one world government, digital currency by coinciding it with ww3. The average Joe will not care about money they will just be happy to be alive, as in the very few that will be still alive.

  • @ageoflove1980
    @ageoflove1980 Рік тому +116

    I get it... The only way to let Boris Johnson go in to the history books as a decent bloke is to literally destroy the country right after he left.

  • @jeremysmith8035
    @jeremysmith8035 Рік тому +65

    youve got to be good when your economic policy is rejected by the banks the international monetary fund and the United States on the same day, might be why lizzy is hiding 🤔

    • @freddiestranger9783
      @freddiestranger9783 Рік тому +1

      HMM GIVE YOUR LIFE TO THE LORD JESUS CHRIST NOW

    • @dune6727
      @dune6727 Рік тому

      Thin Lizzy

    • @freddiestranger9783
      @freddiestranger9783 Рік тому

      @@razzspice INDEED NOW GIVE YOUR LIFE TO THE LORD JESUS CHRIST TODAY 🙏

    • @freddiestranger9783
      @freddiestranger9783 Рік тому

      GIVE YOUR LIFE TO THE LORD 🙏 JESUS CHRIST TODAY 🙏

    • @poonholder5643
      @poonholder5643 Рік тому

      Do you route for the IMF, sleepy Joe and "the bankers" then? Funny old times we are in!

  • @luciferx829
    @luciferx829 Рік тому +10

    Man ,Rishi Sunak's statement happened 🤯🤯😱

  • @biswaroopmaiti2943
    @biswaroopmaiti2943 Рік тому +165

    If you appoint a historian of economics to run your economy your economy will be history.

    • @ahmedabdi9950
      @ahmedabdi9950 Рік тому +4

      He is a poet

    • @freddiestranger9783
      @freddiestranger9783 Рік тому +2

      GIVE YOUR LIFE TO THE LORD JESUS CHRIST NOW AND TODAY

    • @editor4578
      @editor4578 Рік тому +15

      @@freddiestranger9783 cringe

    • @jhunpalz06
      @jhunpalz06 Рік тому +9

      Honestly I expect as a historian he should have known better.

    • @akhanddbangladesh8274
      @akhanddbangladesh8274 Рік тому

      Put another lndian as Chancellor of the Exchequer ..seems like whatever lndian touches turns into ashes. ... google, Microsoft everything is loosing money. ... USA let 30 million lndians to be naturalized citizens of the USA in last 25 years .. now USA is bankrupt.😅😅

  • @za.307
    @za.307 Рік тому +38

    Whatever libertarian think tank advisers are pulling Truss's strings, Starmer needs send them a big thank you note. One thumbs to the already rich, a middle finger to anybody working class. Yet, there will still be Tories (all be it really deluded one's) saying this will help the poor, and handing money to those already earning upto 6 times the national average will also help them. Hating and not caring about the poor isn't a bug of being a Tory, its a flippin' feature.

    • @horatio59
      @horatio59 Рік тому

      do you really think it would have been any better under a Blairite creature ? All these Mafiosi Globalist criminals are cut from the same cloth,they just have a different script.Its time to consign them all to the bowels of history and build a news a new system based on real money and honesty

  • @pauljansen1137
    @pauljansen1137 Рік тому +61

    I guess I will be shopping in England very soon😀!

    • @stevexnycautomotive
      @stevexnycautomotive Рік тому +8

      99 cent store own by Allah

    • @LuchadorMasque
      @LuchadorMasque Рік тому

      You'll have to be because they won't be shipping anything my way any time soon. Fiat money is stupid

    • @chucknorris7480
      @chucknorris7480 Рік тому +1

      Shop in Japan

    • @tropics8407
      @tropics8407 Рік тому +1

      That is the exact idea

    • @batthink2338
      @batthink2338 Рік тому

      Here is the truth about Kier Starmer
      It’s not what the public thinks..
      ua-cam.com/video/FfTuwvqCk6s/v-deo.html

  • @sunnyvalentino
    @sunnyvalentino Рік тому +49

    Love or hate Rishi, he was a competent Chancellor and was brutally honest with the public about what he would do, mocked for being "too smart", "elitist" etc. As if MOST of the prior British PMs did not have elitist background and qualifications, competence and intelligence is actually a bad thing.
    This was a totally avoidable catastrophe, and we reap what we sowed now.

    • @musicmusic6595
      @musicmusic6595 Рік тому +12

      I liked rishi a lot he had good explanations on the economy which we badly needed now and he has experience. No idea how truss got through

    • @poonholder5643
      @poonholder5643 Рік тому

      @@a.j.atkinsonart1082 ppl are retarded

    • @vrutantshah7218
      @vrutantshah7218 Рік тому +1

      @@musicmusic6595 Because people fail to understand that mind is superior to body and the skin color.

    • @Jaylio
      @Jaylio Рік тому +10

      Of course the torys wouldn’t vote for Rishi hes brown bc of their racism they will now have to deal with Liz setting the bar to an all new low 😂

    • @sugarly69
      @sugarly69 Рік тому

      Just like Johnson Before you, just like Brexit before you.

  • @matsmithlondon1123
    @matsmithlondon1123 Рік тому +75

    We'll see a massive amount of defaults on mortgage payments over the next year as well as rising income inequality. People won't be able to afford rent, food, essential medication and the number of working poor will increase since wages will not be able to keep up with inflation. An increasing proportion of people will fall below the poverty line. I'm honestly shocked the UK government doesn't have a clue about macroeconomics and its societal impact.
    Imagine you see a poor person on the street and instead of giving the money to the person in need, you're instead giving it to the rich person living in a mansion with an offshore account in Bermuda. Trickle-down economics does not work.

    • @magesalmanac6424
      @magesalmanac6424 Рік тому +6

      Trickle down economics doesn’t work! Preach it louder, it’s been decades and some people still haven’t learned this.

    • @MrJenklns
      @MrJenklns Рік тому

      @David Pitman my flight is booked to the ☀️ in Jan 👈

    • @MrJenklns
      @MrJenklns Рік тому +5

      @@magesalmanac6424 trickle down...the biggest load of
      Bull-💩

    • @nineteen8026
      @nineteen8026 Рік тому

      Trickle down can work - but it takes 5 years to come through- too late for many, who will lose their Houses, Credit Cards, Pensions.

    • @freddiestranger9783
      @freddiestranger9783 Рік тому +1

      ALRIGHT GIVE YOUR LIFE TO THE LORD JESUS CHRIST NOW

  • @PrivateVoid1
    @PrivateVoid1 Рік тому +62

    Well Trussonomics is getting off to a great start I must say. Who knew that borrowing eye-wateringly huge sums of money to spend on tax cuts for the super rich might not be viewed as a genius move. Good job Liz.

    • @marjiyaahmed4497
      @marjiyaahmed4497 Рік тому +5

      @Travel Crawl they did elect a woman. What's your point?

    • @damianeadie510
      @damianeadie510 Рік тому +3

      I'm going to apply Trussonimics in my own life and I'm prepared to be unpopular. I would love a new car, so I'm going to crash my current car into a shopping mall and set fire to it, then go round with a cap asking onlookers if they have any change. Of course I will tell them it will be British made too!! Wish me luck guys!

    • @gr8macaw1
      @gr8macaw1 Рік тому

      Reagan started a plan just like this in the US. We had a riot on the capital building. Now they are going to crash the economy so they can have us all starve, groceries are so expensive. Then they will move to eradicate our only socialized healthcare which is medicare for elderly people. Lately I have read on the propergander channels they are saying the NHS is becoming unworkable safeguard your NHS because old Liz and the other guy have already planned it out.

    • @turukaath5170
      @turukaath5170 Рік тому +3

      @Travel Crawl oh ffs, even in an economic crisis, your reasoning is sexism and not incompetence

    • @stevec6427
      @stevec6427 Рік тому +1

      I'm going to apply the same theory to my business. If I borrow from the bank, I can use that money to cut prices for my customers. It's a bold move, lets see if it pays off

  • @MrLegendra
    @MrLegendra Рік тому +10

    Should’ve elected Sunak…not a fan of all his policies but his economic policies were sound.

    • @alastairwallace6153
      @alastairwallace6153 Рік тому

      All tories are crap, they are the sole reason the uk is in the shitter. All are completely and on purpose incompetent it seems to fill the richest pockets.

  • @thesunshinehome
    @thesunshinehome Рік тому +32

    Worst start of prime minister's rein ever

  • @spaceshuttledoorgunner125
    @spaceshuttledoorgunner125 Рік тому +16

    Few times I watched Truss' speeches, media talks, Q&A's, my impression was that she didn't seem so cultured, bright, intelligent, worldly, experienced and downright untrustworthy. And her facial expressions... Just imagine her pushing the UK nukes button.

  • @jondonnelly4831
    @jondonnelly4831 Рік тому +32

    This strategy is amazing for manufacturers that export, if only we had some.

    • @jondonnelly4831
      @jondonnelly4831 Рік тому +6

      Or that big market next door, we left. Or that one across the Pacific which Truss can't get on with.

    • @freddiestranger9783
      @freddiestranger9783 Рік тому

      HMM GIVE YOUR LIFE TO THE LORD JESUS CHRIST NOW

    • @jimstirling8120
      @jimstirling8120 Рік тому

      We export 770 billion dollars worth a year and we are the 5th biggest exporting country in the world.
      Profiles of the world's largest exporters
      1.China. Aside from the European Union (which is a collective of many countries), China is the world's largest exporter. ...
      2.United States. The U.S. is the second-largest exporter in the world, with an estimated $2.12 trillion in exports for 2020. ...
      3.Germany. ...
      4.Japan. ...
      5.United Kingdom.

    • @jondonnelly4831
      @jondonnelly4831 Рік тому +2

      @@jimstirling8120 according to Statista we are 14th, behind Belgium and Mexico and slighly above SINGAPORE.

    • @jam6636
      @jam6636 Рік тому

      @@jimstirling8120 you meant 15th...

  • @ultrapiscine
    @ultrapiscine Рік тому +13

    I thought I was bad with money but holy crap this is another level.

  • @dilatedbeholder3865
    @dilatedbeholder3865 Рік тому +9

    At this point Starmer just has to stay at home and he will still win the general election

  • @FleX_94
    @FleX_94 Рік тому +10

    If the IMF have crawled out from under their rock to say this then we're well and truly fucked 🤣

    • @poonholder5643
      @poonholder5643 Рік тому

      No they have crawled from under their rock because Kwarteng and truss just threw a fork in the works of the WEF and the NWO!

    • @Jaylio
      @Jaylio Рік тому

      We’ll probably need a bailout at this rate

  • @DD-sr9xm
    @DD-sr9xm Рік тому +32

    The IMF doesn’t want to have to bail out the UK again. In 1976 the UK was so desperate they borrowed $4 bio for the IMF. The US and EU together provide over half of IMF funding, both are fed up with UK pettiness and bad behaviour.

    • @freddiestranger9783
      @freddiestranger9783 Рік тому

      OK GIVE YOUR LIFE TO THE LORD JESUS CHRIST NOW

    • @terrack3005
      @terrack3005 Рік тому

      @@freddiestranger9783 Give over you brain washed fool...smh

    • @stevec6427
      @stevec6427 Рік тому +5

      @@freddiestranger9783 No, I gave it to Satan

    • @inigobantok1579
      @inigobantok1579 Рік тому

      America wouldn't rescue these in a foreign net capital inflow, they have other matters in their country.

    • @slimy6316
      @slimy6316 Рік тому

      Tbf that was almost 50 years ago. I doubt they have that in the back of their minds

  • @BB-jf9yr
    @BB-jf9yr Рік тому +68

    Rishi sunak was right 👍👍👍👍

  • @widsof7862
    @widsof7862 Рік тому +66

    this is what happens when ideologues ignore conditions when they push agendas or their beliefs and keep going even when the it worsens the situation, because they think they need to go further rather than reflect and adjust accordingly.

    • @tomjones8715
      @tomjones8715 Рік тому +2

      What part of the budget is the issue?
      I mean forget the basic rate tax payer cut of 1 percent as Labour said they would have done the same…

    • @stevec6427
      @stevec6427 Рік тому +5

      @@tomjones8715 Tax cuts with no method of funding them other than borrowing. Extremely irresponsible and something governments never do because it's stupid. It would be like a business taking out a loan to be able to cut prices on the goods they sell

    • @tomjones8715
      @tomjones8715 Рік тому

      @@stevec6427 I agree…I’m more going after the attack on the Tory’s when the Labour plan on tax cuts was only 2 billion different..,Labour said they’d lower basic rate income tax as well.
      The biggest issue is the dollar system. Until that changes we are slaves to Washington. The best move would be to change our mortgage system and push 30 year mortgages as they have in the states. Protecting home owners from stupidity of government …

    • @dragon.fromindia3235
      @dragon.fromindia3235 Рік тому

      Europe should go for their own digital currency...And save paper

    • @dragon.fromindia3235
      @dragon.fromindia3235 Рік тому

      Give away dollars and take it back gold and silver...

  • @roberttalbot6397
    @roberttalbot6397 Рік тому +9

    near were I live, people actually stop cars on main rds/ junctions begging money with paper cups, old,young, one girl came into McDonald's asking for tea,she then stumbled out,next time I saw her she was sat on a Rd junction begging she was about early twenties,. this is the big divide between rich and poor in uk

    • @roberttalbot6397
      @roberttalbot6397 Рік тому +2

      To beg on busy Rd junctions is dangerous in itself, car comes people could be killed doing this, what for I ask? Money? Sad

    • @magesalmanac6424
      @magesalmanac6424 Рік тому +3

      Not trying to tease anyone, but it’s the most British thing I’ve heard in a while, that McDonald’s sells tea in Britain. As an American that is so cute ❤️ 🇬🇧

    • @diesel92kj1
      @diesel92kj1 Рік тому +3

      Second highest “lowest tax bracket” in the word & some of the highest collective taxes in the world, we are all struggling because of the taxes we pay.
      What did the Government do when you took your car to be repaired to warrant adding a tax on you getting a car repaired.

    • @roberttalbot6397
      @roberttalbot6397 Рік тому +1

      @@magesalmanac6424 and coffee, plus Costa,greegs,

    • @MrJenklns
      @MrJenklns Рік тому

      @@magesalmanac6424 lizz Truss would like your comment 🆒

  • @carlosgd8903
    @carlosgd8903 Рік тому +23

    Bring Rishi back. He predicted this and wanted to avoid this

    • @stevec6427
      @stevec6427 Рік тому +3

      Get rid of the lot of them

    • @TG-ts3xn
      @TG-ts3xn Рік тому

      He helped cause this!
      We need a Patriotic Party…

  • @jakel8627
    @jakel8627 Рік тому +5

    Just came out of Covid, then Brexit, then the war in Ukraine and subsequent sanctions on Russian oil and gas. Can't they just leave well enough alone? We don't need more risk and instability for Christ sake. Rishi Sunak should have the leadership race. This makes me so f'ing angry

  • @michaelketley876
    @michaelketley876 Рік тому +14

    Basically, experts are telling Truss and Kwarteng that they have behaved like idiots.

    • @dfwdfw9544
      @dfwdfw9544 Рік тому

      Indeed. I'm trying to remember the last time the IMF or another international economic organization had to publically shame a "first world" nation. It is tempting to joke about Britain finding itself in the position of its poorer former colonies, always in the line of fire of criticism and concern from leading international organizations. Jamaica's troubles with the IMF and World Bank come to mind.

    • @freddiestranger9783
      @freddiestranger9783 Рік тому

      YES GIVE YOUR LIFE TO THE LORD JESUS CHRIST NOW

  • @kikidevine694
    @kikidevine694 Рік тому +4

    I'm not an economist, but won't tax cuts potentially lead to higher inflation?

  • @MrAlen6e
    @MrAlen6e Рік тому +5

    You know it's bad when the IMF criticized a G7 country on their economic policy.....

  • @justinauyeung1290
    @justinauyeung1290 Рік тому +38

    When your economy runs on Russian dark money.

    • @Lommy9999
      @Lommy9999 Рік тому

      And Chinese

    • @justinauyeung1290
      @justinauyeung1290 Рік тому +11

      @@Lommy9999 Nah, the Chinese target 3rd world countries to own through defaulting on debt from infrastructure projects. England is too developed for their tastes. Most expensive real estate in London is owned by Russian oligarchs.

    • @freeassange5667
      @freeassange5667 Рік тому

      Make peace with Russia perhaps

    • @DanafoxyVixen
      @DanafoxyVixen Рік тому +2

      @@justinauyeung1290 The chinese has still a lot of money invested in the UK regardless

    • @freddiestranger9783
      @freddiestranger9783 Рік тому

      OKAY GIVE YOUR LIFE TO THE LORD JESUS CHRIST NOW

  • @pkwong1940
    @pkwong1940 Рік тому +9

    What an achievement for Liz Truss. Only 2 weeks as PM. I can't wait to see what will happen in 2 months time.

    • @Jaylio
      @Jaylio Рік тому

      The UK is falling 😂 LOL

  • @markdonovan1540
    @markdonovan1540 Рік тому +14

    They'll print money, as always. Tories know this and have hedged their bets accordingly. Rinsing people's savings and livelihoods to fill the coffers of their offshore backers, where they also have their own personal investments, of course!

    • @freddiestranger9783
      @freddiestranger9783 Рік тому +1

      ALRIGHT GIVE YOUR LIFE TO THE LORD JESUS CHRIST NOW

    • @blitz8702
      @blitz8702 Рік тому

      yes manipulating and scheming how to get rich and profiteering from good honest workers and home owners.leech

    • @aditube8781
      @aditube8781 Рік тому

      this is what happens wen country men give in to racism and jealousy

  • @Otto72ish
    @Otto72ish Рік тому +10

    That bloke's analysis of why pension funds became forced sellers of bonds was flat wrong. It was a technical issue to do with their (ill-advised) positions in derivatives markets, and having to raise cash to provide collateral as derivative positions moved against them. It was nothing to do with having to sell the bonds themselves if they fall below a certain level. The Bank of England stepped in to prevent this becoming a vicious circle. Poor analysis by the BBC.

    • @embreis2257
      @embreis2257 Рік тому

      most ludicrous was his analogy to the 1929 stock market crash

    • @tonysherwood9619
      @tonysherwood9619 Рік тому

      Explain it away then wheelbarrow it away - had you signed for this monetary system?

  • @antonleimbach648
    @antonleimbach648 Рік тому +2

    Great explanation of what’s happening. Thank you.

  • @rayrowland3292
    @rayrowland3292 Рік тому +1

    the box tickers never cease to mess it up.

  • @parthasdasgupta
    @parthasdasgupta Рік тому +5

    Mr Saunak is much more intelligent and educated than the present PM. But he was not chosen the reason known to everyone.

  • @ClementIV
    @ClementIV Рік тому +12

    Bring Rushi back!!

    • @errgo2713
      @errgo2713 Рік тому

      Bring the guillotine back

  • @vjab1108
    @vjab1108 Рік тому +3

    People will not be able to pay the TV Tax, oh dear.

  • @heredownunder
    @heredownunder Рік тому +10

    I think even I know, giving tax cuts do not really stimulate the economy. In times of uncertainty, people tend to save, not spend.

  • @Ashura_Lex_Veda
    @Ashura_Lex_Veda Рік тому +21

    didnt know the UK's economy was something that fell under the jurisdiction of the Impossible Mission Force

    • @soapmonkey6357
      @soapmonkey6357 Рік тому +2

      @ellen reported for spam

    • @cash_eye
      @cash_eye Рік тому

      I was thinking the same thing

    • @pplesandoranges
      @pplesandoranges Рік тому

      Your economy, if you choose to crash it......

    • @airhab
      @airhab Рік тому +5

      Its an Impossible Mission for any Force to fix what Liz has broken.

    • @71espn
      @71espn Рік тому

      because britain will go begging to IMF

  • @paulcernava7091
    @paulcernava7091 Рік тому +5

    If you cause financial pain to the middle class down you have the wealthy class happy to take advantage of the peasants and then control is so much easier....

  • @aarononeal9830
    @aarononeal9830 Рік тому +1

    The bbc needs to talk about Ecosia they are a search engine that plants trees

  • @flowerpower7288
    @flowerpower7288 Рік тому +1

    Enough is enough!

  • @Keln02
    @Keln02 Рік тому +8

    gj truss. making our life harder.

  • @Andrew-ob5ij
    @Andrew-ob5ij Рік тому +7

    And people say the tories are the party that is the best at looking after the economy 😂

  • @Oldfogey2014
    @Oldfogey2014 Рік тому +2

    Where’s Norman Lamont? I’m surprised you haven’t called him up for comment. He’s someone who knows what a real crisis is.

  • @markmeade2937
    @markmeade2937 Рік тому +1

    The difference between people who know what they are doing , and box tickers .
    Two box tickers equals a shambles, a shameful shambles…..

  • @paulowens4744
    @paulowens4744 Рік тому +9

    Thank god someone with clout is saying something. Sadly I doubt it will help in time.

  • @leinad5243
    @leinad5243 Рік тому +7

    What does THE uK export? Royal pottery plates?

  • @kupper123
    @kupper123 Рік тому

    It doesn’t seem possible that a government could screw everything up this quickly.

  • @piaxgft5799
    @piaxgft5799 Рік тому

    best explanation i've seen.

  • @derekscanlan4641
    @derekscanlan4641 Рік тому +5

    Brexit 'may bring difficult times' Theresa May - that one time 🤣

    • @freddiestranger9783
      @freddiestranger9783 Рік тому

      RIGHT ON GIVE YOUR LIFE TO THE LORD JESUS CHRIST NOW

    • @nietzschean3138
      @nietzschean3138 Рік тому

      Very little to do with Brexit, which was a brilliant opportunity. It had to be made to seem catastrophic though, as it it was entirely at odds globalist agendas.

  • @richsees8988
    @richsees8988 Рік тому +7

    The sane world looking out for the UK world of crazy

    • @hyndscs
      @hyndscs Рік тому

      Makes a nice change from the USA no?

  • @StratsRUs
    @StratsRUs Рік тому

    Trickledown always works !
    For Johnson.

  • @dotolaj3263
    @dotolaj3263 Рік тому

    They must be on the right track then

  • @l.t.868
    @l.t.868 Рік тому +22

    Brits have nobody to blame but themselves because they voted these politicians in.

    • @willbrown8568
      @willbrown8568 Рік тому +13

      Thats the thing, we didnt vote for this goverment. 200,000 party members did

    • @w.kfontaine7084
      @w.kfontaine7084 Рік тому +8

      You’re incorrect. Do better

    • @airhab
      @airhab Рік тому +8

      No one voted for Liz.

    • @deborahfreedman333
      @deborahfreedman333 Рік тому

      I'm an American, and yet, even I know that Truss was only elected by Conservative party bigwigs, not the British public. And, if Labour had not been headed, at the time of last elections, by a Marxist antisemite, the Conservatives might not have done so well. The Brits only have themselves to blame for Brexit, but not Truss. (OK, Norfolk has only themselves to blame, but not the rest of the UK.) BTW What do have against commas?

    • @darrinroberto9474
      @darrinroberto9474 Рік тому

      Wrong....no one voted them in.. there cronies and benefactors did...

  • @seriousstuff8887
    @seriousstuff8887 Рік тому +4

    The country is flip flopping its way to the flipping egde .. Flipping insanity tbh !

  • @malhamaulkubra4437
    @malhamaulkubra4437 Рік тому +1

    Deflation meant too much money was printed and thrown into the system.... Now that it's inflation.. Money is supposed to be sucked out of the system in phases... Kwarteng instead fed more into the system with huge tax cuts

  • @PMMagro
    @PMMagro Рік тому

    Mini budget, major backlash...

  • @LuchadorMasque
    @LuchadorMasque Рік тому +3

    Aye, the dollar appreciates it. This is an odd recession. One at full employment and a very strong dollar in the United States.
    Fiat currency . . . Lol

    • @hyndscs
      @hyndscs Рік тому

      Petrodollar fiat lol

  • @TruthTeller977
    @TruthTeller977 Рік тому +3

    It's taken the BBC ALL DAY to cover this on UA-cam.

    • @darkking3608
      @darkking3608 Рік тому

      Yup I noticed that as well, this is a national crisis and we get silence...
      I used to not believe the BBC's bias stuff but Jesus

    • @freddiestranger9783
      @freddiestranger9783 Рік тому

      YES GIVE YOUR LIFE TO THE LORD JESUS CHRIST NOW

    • @davidcedric7424
      @davidcedric7424 Рік тому

      Hello Elizabeth. How are you doing .?? Oh really I think so 😊 .

  • @zerrycurrent
    @zerrycurrent Рік тому +2

    Congratulations UK you have an (extra)extraordinary leadership

  • @abhiramnimmagadda1557
    @abhiramnimmagadda1557 Рік тому +1

    well duh!?

  • @vikrantnalkur4422
    @vikrantnalkur4422 Рік тому +8

    Rishi was right.

  • @alicelander9058
    @alicelander9058 Рік тому +3

    Interest rates need to be 5, 6 or 7 per cent then markets will want the pound

  • @searchforthis
    @searchforthis Рік тому +2

    Well finally

  • @b.nzie.2388
    @b.nzie.2388 Рік тому

    Where is the PM???

  • @harrywilliam8740
    @harrywilliam8740 Рік тому +6

    India has 580 billion forex reserve.
    Uk has only 80 billion forex reserve. If uk has cross border trade. it will give huge loss. Dollar is more important.
    Pound is not attractive currency like dollar. Whole world use dollar.

    • @Lommy9999
      @Lommy9999 Рік тому +4

      But India is incredibly inequal. In the UK you don't have such poverty rates.

    • @harrywilliam8740
      @harrywilliam8740 Рік тому +1

      @@Lommy9999 uk is a small country with low poverty rate that is good. Then y your forex reserve is so low ? Uk is 6th largest economy in the world.

    • @freddiestranger9783
      @freddiestranger9783 Рік тому

      OKAY GIVE YOUR LIFE TO THE LORD JESUS CHRIST NOW

    • @Lommy9999
      @Lommy9999 Рік тому

      @@harrywilliam8740 I'm not British....

    • @jonsimmons4150
      @jonsimmons4150 Рік тому

      in india 60% of households dont have toilets.

  • @HopoCafe
    @HopoCafe Рік тому +3

    Rishi had better economic policies. Liz is good but not good enough. All the best. 🙂👍🏻

    • @sunnyvalentino
      @sunnyvalentino Рік тому +2

      But Rishi was "not English" enough for the right wing.

  • @melissaholt1211
    @melissaholt1211 Рік тому +1

    Thanks 😊

    • @davidcedric7424
      @davidcedric7424 Рік тому

      Hello Melissa. How are you doing?? 😊 you’re welcome

  • @andrewondon
    @andrewondon Рік тому

    I was waiting for Boris to go and now I miss him

  • @renzobartoli7816
    @renzobartoli7816 Рік тому +4

    Fair play, the Government must be doing it right if the IMF are unhappy?

  • @goldfinga786able
    @goldfinga786able Рік тому +6

    Stop aiding war and think of ur own country

  • @strikefault
    @strikefault Рік тому

    there's that word again, inequality.

  • @shubhamnandi3498
    @shubhamnandi3498 Рік тому

    The Sun has finally sat on the English Empire🤣🤣🤣

  • @russellvisentin5723
    @russellvisentin5723 Рік тому +14

    Investing in crypto now should be in every wise individuals list, in some months time you'll be ecstatic with the decision you made today

    • @paulmarshall1178
      @paulmarshall1178 Рік тому

      You should know it's easy and hard to make that much profit. I say EASY because it's very possible to make that much, and Hard because you'll need professional assistance to do it, I'd suggest you get assisted by a market advisor.

    • @fredrickpeterson4382
      @fredrickpeterson4382 Рік тому

      That is totally true, but how well does a financial advisor improve your profit? What is the experience like using an advisor?

    • @patrickmartin2894
      @patrickmartin2894 Рік тому

      I can't disclose too much, but yea I've been using a coach and through his guidance, I've been able to make approx. $24,000 in dividends on a monthly basis, it is pretty straightforward, not as complicated as it used to be.

    • @patrickmartin2894
      @patrickmartin2894 Рік тому

      She's called Mrs Emilie Choi

    • @michaelfrankland2705
      @michaelfrankland2705 Рік тому

      This is impressive how could someone go about getting investment guidance from a coach like that, would you mind sharing your coach info?

  • @shahidanusrat6086
    @shahidanusrat6086 Рік тому +5

    As a Pakistani I am so much concerned about UK pound 💷 loosing its weight and value hahahaha 😅

    • @jasonkingshott2971
      @jasonkingshott2971 Рік тому

      I'm sure many people are not much concerned that they aren't Pakistani.

    • @gc2696
      @gc2696 Рік тому +5

      Oh dear...less money will be sent back to Pakistan...😰

    • @freddiestranger9783
      @freddiestranger9783 Рік тому

      OK GIVE YOUR LIFE TO THE LORD JESUS CHRIST NOW

  • @jonathanhadley2555
    @jonathanhadley2555 Рік тому +1

    Well could there be a new monetary system on the way?!

    • @freddiestranger9783
      @freddiestranger9783 Рік тому

      OKAY GIVE YOUR LIFE TO THE LORD JESUS CHRIST NOW

    • @jonathanhadley2555
      @jonathanhadley2555 Рік тому

      @@freddiestranger9783 Well if ever there was a time, for a messiah...............................!

  • @abdulduros7075
    @abdulduros7075 Рік тому +2

    What a time to be alive.. popcorn anyone ?

  • @stevexnycautomotive
    @stevexnycautomotive Рік тому +3

    IMF = International MFer

  • @jlvandat69
    @jlvandat69 Рік тому +32

    RIP, UK. As Americans painfully learned in 2016, when you elect a Right Wing personality to lead the country, destruction is inevitable. Italy will see the same. History tells us the future of the UK and Italy, and it's very ugly. Best of luck.

    • @sukhdevjohal9053
      @sukhdevjohal9053 Рік тому +5

      Totally agree

    • @Keln02
      @Keln02 Рік тому +4

      fun thing, truss wasn't elected... well 20k tory voters can't represent the entire uk

    • @piccalillipit9211
      @piccalillipit9211 Рік тому +9

      People voted for Brexit, they voted Tory - they are getting exactly what they voted for...

    • @geordiebatt
      @geordiebatt Рік тому +2

      Truss never even had the support of the majority of her Tory colleagues. She's an absolute cluster f##k.

    • @magesalmanac6424
      @magesalmanac6424 Рік тому

      Yup, all they do is create tax write offs for the wealthy and deregulate. And then conservatives act surprised when their policies fail!

  • @mcconartist3281
    @mcconartist3281 Рік тому

    Those experts again. Causing havok

  • @gk9257
    @gk9257 Рік тому +1

    Truss need to get some advice from sunak

  • @janetlamb6812
    @janetlamb6812 Рік тому +3

    Liz Truss has to go

  • @bbcisaids6727
    @bbcisaids6727 Рік тому +4

    The cost of complying to lockdowns! Well done sheep this is on you

    • @freddiestranger9783
      @freddiestranger9783 Рік тому

      INDEED GIVE YOUR LIFE TO THE LORD JESUS CHRIST NOW

    • @flowerpower7288
      @flowerpower7288 Рік тому

      Actually many did not comply - don't believe everything you hear on msm

    • @MrMusicbyMartin
      @MrMusicbyMartin Рік тому +1

      What on this earth has this got to do with lockdowns?

    • @bbcisaids6727
      @bbcisaids6727 Рік тому

      @@MrMusicbyMartin you brainwashed globalist serf,

    • @bbcisaids6727
      @bbcisaids6727 Рік тому

      @@MrMusicbyMartin lockdowns destroyed the economy!! You gormless sheep followed their plan, now your paying for it!! Stop bmoaning and accept your part for this ... pathetic

  • @Guesswhokk
    @Guesswhokk Рік тому +1

    Few days ago BOE announcing "UK under recession" and today this happen.
    Tories really know how to turn around a "boring" economic policy into an "ideological one".

  • @charliebrandt2263
    @charliebrandt2263 Рік тому +1

    Where is the vote of no confidence in the government today? Parliament is too cowardly to dump this shower of ideologues and amateurs...It's going to be a long winter.

    • @davidcedric7424
      @davidcedric7424 Рік тому

      Hello 👋 Charlie. How are you doing ?? I think what you’re trying to say is absolutely correct 😊😊

  • @moralesortiz7872
    @moralesortiz7872 Рік тому +7

    ✍️✍️Nice video and I thank you for breaking it down !! Despite the economic recession , I'm so 😊 I have been earning $ 60,000 returns from my $ 8,000 investment on short period

    • @sammirodger440
      @sammirodger440 Рік тому

      HOW!!😊 I know it's possible, my sister always get 40K every week, I would appreciate if you show me how to go about it.

    • @susanlett6374
      @susanlett6374 Рік тому

      HER AVAILABILITY IS ON WHATS'APK MESSENGER

    • @nathanielvera.0
      @nathanielvera.0 Рік тому

      👆👆👆

    • @nathanielvera.0
      @nathanielvera.0 Рік тому

      🇺🇲🇺🇲🇺🇲

    • @susanlett6374
      @susanlett6374 Рік тому

      @The American Empire TELL HER I REF'D YOU ASAP🇺🇲🙏

  • @san-chil
    @san-chil Рік тому

    A mini budget and this !!! Now image for a moment what a full blown budget might have achieved for the British economy. The British owe their gratitude to their PM and dear Kwasi this.

  • @everTriumph
    @everTriumph Рік тому

    Budgets which aren't budgets, wars that aren't wars. Soon have pounds that aren't pounds.

  • @thomascrowe3407
    @thomascrowe3407 Рік тому

    No tax is maximum heart rated. For some people and holdings, governments should address these matters and how others such as developers take advantage of these culterally sensitive areas .

  • @IwillGetyou00000
    @IwillGetyou00000 Рік тому

    Should have kept Boris

  • @hlaks1207
    @hlaks1207 Рік тому +1

    The same path Uk following Sri Lanka, soon after elections win Gotabaya R, introduced tax cuts b4 Covid was declared worldwide pandemic. There started our economic crisis.

  • @tonysherwood9619
    @tonysherwood9619 Рік тому

    Do you know we are on a "War Footing" with a piggy bank!

  • @devpersaud2331
    @devpersaud2331 Рік тому

    There needs a repair job. That is to get the oil companies to contribute .