Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian C Nelson.
I honestly am impressed by how they've raised 40 billion through mostly just little taxes on employers and the wealthy. I'm also happy to see the change in the fiscal rules. If we weren't zooming toward global collapse, this would be an adequate budget. But it feels like Labour are woefully unprepared for the reality of what we're facing as a nation and a species.
@@Fln13800 bang on tho unfortunately. We are looking at collapse in the next 10-20 years and there is no preparation or acknowledgement of this fact by policy makers. It’s not new news either club of rome published it almost 50 years ago.
@@jacobmayall3712 LTG has been largely debunked. Not to say we shouldn't be aware of it's warnings and do nothing to correct our course but to say we're 10-20 years from collapse is frankly utter nonsense.
I've a lot of time for Portes, but if I want centrist analysis I can read the FT. Novara is supposed to be offering something different. I'm sure much of your audience, myself included, would rather hear from a left-wing economist. Why not get someone from the NEF?
I rely on public transport to get to work my bus fair has gone up twice already in 5 months now £40-£56 then to £65 ..... now waiting for the next update.
Sadly, from a government perspective, they can raise more direct and indirect revenues from 20 people driving cars, than by having 20 people sitting on a bus.
@@thomascroft5076true, however they've got £22b to fund the wildly defamed 'big carbon hole in the ground' What about £21b on the money pit & £1 billy on public transport infrastructure. Reckon you'd offset more carbon with that investment than their money abyss.
Are you thick? The Tories were going to end the cap, Labour have kept the cap... it's gone up by a pound but that's a maximum. Most bus fares won't change
Encouraging employers to get riid of employees. And if large employers are to pay higher NI contributions, isn't the NHS the largest of all UK employers?
@@toby81tube But it does make a difference to NHS, it makes no difference to the government though, which is not the same thing. It makes no sense that NHS pays NI but they do so comes out of their budget.
Struggling to understand why you got jonathan portes of all economists on to comment on the budget. Didn't feel his input provided any enlightenment on the budget impacts from a left wing, socialist perspective.
@lokisgreenlife6862 exactly, it was really odd and disappointing for such an important political event to have such coverage from novara. Where was james meadway or Grace blakely or even Mariana mazzucato.
So you just want someone you agree with on here 🤣 the economist they chose spelled out the reality, it was a decent budget. Not the best budget ever, by any means, but not catastrophic like the Corbyn left predicted it would be, or are still trying to claim it is...
Michael needs to present every show. He is my favourite host regardless of which guest is on, but I have to admit my favourite duo are Michael and Ash. Keep up the good work, Novara.
This was a budget for the wealthy wrapped in a blanket of pretence. Because as always it will be the poorest in society that will pay. Increasing inequality once again.
Green hydrogen is the biggest con there is. Ok there are some potential benefits to it and maybe aviation or trains may be suitable for the use of hydrogen. However, it is a rally inefficient way of providing energy. You need electricity or some other form or energy to split water into hydrogen and oxygen. This process is around 30% efficient, so why would you not just use that electricity to power vehicles or heat homes or move a train. Hydrogen is basically an inefficient battery. May be useful in some situations but certainly not a panacea. I would also like to point out that water vapour is also a greenhouse gas so not sure what the impact of switching to huge levels of hydrogen production would be. That is beyond my knowledge but something to be aware of.
@@toby81tube No, but it does concern me that something so well known in the scientific community has been drowned out by the foghorn of vested interests promoting hydrogen.
Portes doesn't have clue. "We've hiked taxes, which will reduce workers wages over time and we'll put it in the NHS". Why does he assume that workers can cope with lower wages
Urgh, green hydrogen and CCS instead of insulating homes and redesigning the grid. And if you have to make the green hydrogen that's energy you're not using for other electricity ao fossil fuels continue to be used
Totally with you. What frustrates me is that nobody mentions how much land these CCS will need to actually do some offsetting. Land space that we barely have, and that should be used to mitigate extreme weather events for example by creating more reservoirs and woodlands.. it would be cheaper and more useful for such a nature depleted country like the UK
Really bummed that they have chosen not to extend the first time buyer stamp duty exemption. For people renting in London, this will mean the wait to get one's own first home is much longer. Home ownership allows people to establish stable lives and is a foundation for a functional economy - really bummed that they've chosen to make this more difficult for my generation (even if the second home stamp duty changes will help a bit by lowering demand from landlords).
Fiscal Rule ..... The government can spen 2 Billion building a Bridge and the toll charged for the cost ...can not be added as an asset...Till Now. Common sence economics !!!!
There was a time in my life I spent to much after lending money after money solution stop spending eventually I could start again best thing I ever did
I don't want to hear anymore of these weak Labour austerity arguments. Reeves is investing in the public realm and taking a huge gamble. Let's all hope that it works.
I am largely happy with the budget and the money put it however it is regressive in regards to benefit cuts etc. There is also no guarantee that it will create growth. But it's more money then I expected for NHS and schools.
There is a lot of destruction going on currently in the Highlands to produce hydro electricity, I feel using this to for a return of 30% efficiency with hydrogen power over using the energy directly seems perverse. Was there ANYTHING in the budget to reduce consumption?
Well actually OBR in their analysis apparently predicted any large increases would actually reduce the tax. Thats what the leaks were. Unless you have a leaving tax there is nothing stopping someone moving abroad to sell a company, think you need to live abroad for 5 years to not have to pay the tax in UK, this isn't 5 years before you sell. It gets complicated. Also the greedy rich don't make that much from selling their gains, they never realise their assets so you wouldn't even hot them anyway. You just get loans against your assets at super low interest rates.
@@cup1966wow ahh there’s always a loophole for the rich. My gut is telling me it was all an assault on the middle classes , but I don’t know I’m not an economist.
higher employers nic would only affect wages if employers are choosing to, or have been forced to, pay employees as much as they can afford. If employers choose to pay employees as little as they legally or competitively can then it'll have no effect on wages.
Her voice is irritating - but born innately dishonest, I'm not so sure about that? I suppose it's possible that as she became progressively more dishonest, the tone of voice changed as part of an overall process? More research required I would suggest, before we can give a definitive answer to this important subject?
That was a great show last evening guys. First off, after the live show, I got worried about one of my chat posts during the show. I wrote an ironic take on the possible direction of the labour policy, then one of your guests appeared and i added a "hi" to the post and then sent it. Thing is when you read the post and the "hi" together it might be taken as offensive. I mean it would be easy to claim that, or for me to claim it was unintentional. Then of course the endless game begins. The Chat stream is not up as far as i can tell but i just wanted to apologise if it might be taken as offensive. It was just an unhappy connection of two separate Chats in one chat. If that make any sense. Anyway it seems form the media this morning that one of the issues you focused on, expanding the point made by Richi Sunak in his response to the budget, has been taken up by the media big time. And so RGT Hon. Rachael Reeves is being interviewed by a former Labour shadow chancellor according to GBNews. It kind of coherent with the point that came up in your interview with the economist. Also i see you did a later post on the other issue in the News yesterday, but i haven't watched that yet. Cheers. Laters guys.
Oh i think your later in the evening added post was the repost of just the later part of this show. i think by then my mind had gone blank. You know: 76 billion, 24 billion, 34 billion...1p off of a pint, no VAT on Halloween costumes. So I'll watch the last bit again.
The real problem all across Europe is spending. As Angela Merkal said, Europe accounts for about 10% of the Worlds population, and about 16% of the Worlds GDP, and about 58% of the Worlds Welfare. This is unsustainable and will bring catastrophe in the end. Welfare is the driving force behind mass immigration into Europe from the poorest parts of the World. Welfare systems all across Europe needs to be cut dramatically or Countries will go bust, this is where the real money has gone.
