UK Recession: How bad is it for Rishi Sunak? 

Because we have been. GDP is meaningless in a country with such high income inequality, it's just a measure of how much richer the rich are getting. Even when the economy is growing, the British people's quality of life is falling.

@@yurisei6732 you're both right and wrong. Yes GDP is irrelevant, but also inequality is also irrelevant. If everyone had £1m in today's economy but one person had £1q does that make a difference? No. The problem is that since GDP is a representation of all spending in the UK, they have artificially inflated it, by increasing government spending. This creates inflation and the cost of living crisis. The government are borrowing money just to keep the country running and if you've ever had credit card debt you know that's a bad place to be.

Brexit means BREXIT.

​@@SaintGerbilUKthe UK total gdp has barely moved since 2008, we've had semi permanent reccesion on and off since then. In 2007 it was 3.09 trillion its now 3.10 trillion and we have +8 million population

Government spending is actually down if you account for inflation.

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you know it’s bad when even Chelsea fans are singing it

Its going to take a generation to fix. Idiots will still vote Tory.

​@@celtic69 they're saying this but they'll vote reform so just tories but different colour

Never underestimate the predictability of stupidity

@@blahajlucie starmers labour are also just tories in a different colour, so take your pick of which flavour tory you want

This is the point that is never discussed whether it's politicians or both sides of the media

Oh, but they are good for the economy ... their donors economy

The economics believes by conservative voters is basically "everyone poorer than me is too lazy". When in reality it should be "the American billionaires are too lazy, or just too rich".

Recessions are good for the economy, but no one likes to talk about it.

Recessions happen due to a globalised economy, ever heard the saying i"f America sneeze, Europe catches a cold? "

@@Letsthinkaboutit-mb7nn I go to work. Steal breakfast lunch and dinner whilst clocking out late. I would probably work harder but it's ten pounds an hour and that doesn't cover rent plus food in my area if I cant get overtime. So... yeah

@@Letsthinkaboutit-mb7nn Thanks to Brown's Working Tax Credits disaster....work only 16 hours and get benefits top up which was unfunded and uncosted.

for just at the population within economically productive age brackets (18-67), this would have looked much worse. there was over half a million decline in babies being born, and there was a large number of excess death over retirees. this combined with huge influx of working age immigration.

Spot on. That is conveniently left out of being reported on, because the GDP per capita indicates the true picture of what is going on.

GDP is useless what is the cost of living

Hit the nail on the head there. The pure irony is a richer country on a per capita basis would still fundamentally make the rich richer.

Many, in this country... Many.

Until the next election than the Tory’s will lose and the party knows it they just want to delay the inevitable and hope that a scandal breaks that weakens the opposition.

One for every man, woman and child murdered in Gaza and West Bank?

Well, you just start welding the nails together

🤣🤣

He would kicked out once the May local elections are over if he is not sensible enough to call general election by then. If he decides to stick around for the vanity of 2 years in office then the tories will be decimated.

Kicking him out and putting Jeremy Clarkson as the lead candidate would get the tories more votes.

@@uksuperguyYe gods, talk about out of the frying pan and into the fire!

I disagree. The real question is how do we really hold these fuckers accountable for the mess they've created. Make no mistake, a lot of the mess was created by them on purpose as opportunities to be benefitted from by them and their donors. Where do you think all the money is going? Its all being siphoned off via inflated private contacts. They only do this because the system allows them to act without fear of consequence. Until we fix our political system to ensure accountability is maintained and properly enforced we don't see any real change.

No money left....tons of debt though.

thats liberal democracy for you. all pretty words, no results.

Sunac was Chancellor. He's to blame. Big time

Sunak shouldn't get out of this unscathed

​@@50_Pencewhen a bank goes bust it's rarely because of the accountant. UK will keep on being in recession, they left the EU trade deals and now suffer for it

To be honest, captain running the boat hard forward towards that iceberg was Cameron in 2016. Everything afterwards was basically a set of inevitable consequences. UK is a very large ship to turn around quickly and it will cost alot of ruined ppl lives.

The headline rate would have been much worse without +1.25 million visas, gdp per capita has dropped 7 quarters straight and that's what people are feeling thier £ getting smaller

@@SlowhandGreg aye. but that means the people already here are suffering with no / negative growth. GDP/person reduction means a loss of high economic value people replaced with low economic value people. It drives us all into serfdom, where we labour for the landowners just to live. Poor wages have historically only been mitigated against by disasters, WW1 and WW2, the black death, the harrowing of the north etc. When there is an abundance of workers wages are low. When they die in large numbers, wages go up. Maybe we should let the population drop rather than have mass immigration.

@@anthonylulham3473 you can't lower migration till you restructure the tax system and invest in the domestic population including improvement of transport and housing. 1/2 the visas are for dependents because we're shopping in the 3rd world and we're suffering a brain drain 1/2 a million people left the UK permanently last year.

@@anthonylulham3473 this is Malthusian nonsense, the reason why British wages are so piss poor is because of stagnant economic growth on the top level, reducing immigration is just going to introduce another drag on the economy, especially productive labor such as skilled workers/students. Between London NIMBYism preventing more people from moving to Britain's most productive city, Brexit causing chaos with Britain's biggest trading partners, and then the austerity under Tories followed by the COVID shocks no wonder the British economy is in tatters.

risheshun

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I'm not sure why, given that it's pretty obvious. It's devastating. It's the worst case scenario that remainers warned about. The topic of the impact on Sunak, on the other hand, is uncertain and still of national interest.

It's curious that now people in Northern Europe that are experiencing crisis and recession are lamenting for government choices. I remember when everyone in Europe agreed when it was time to force austerity measures to Greece and Italy. "They are lazy!" "They don't want to work hard!" Well, now it's your turn to experiencing that shit.

It's bad. - end news.

​@@danielefabbro822Greece and Italy forced Austerity on themselves by refusing to restructure taxation and benifits

@@danielefabbro822 is it? i'd rather the british not go through what us greeks have gone through. though, i do wonder how a broken country, like the uk, can rise up again from its ashes. because make no mistake, greece and argentina and others are not big economic forces. but despite their issues, they are not suicidal like the uk. so the question is how do fix a nation of ugly nightclub women, disappearing villages and towns, which just so happens to be a murder and immigration capital all the while the politicians simply don't know what they are up against? knowing is half the battle. if they knew what befell them, they'd have people 'round the clock on their sea borders, producing as much as possible and spending very little. it's difficult to imagine what they'll do. hopefully they'll manage, alone in the cold. they're not in the eu anymore.

Btw, it's the same with the Republicans. 10 of 11 recessions in the last 70 years started under Republican Presidents.

At least under Maggie and Major in the 80s and early 90s there was a bit of boom before the bust… under the last 5 Tory failed PMs it’s just bust, bust, bust, bust, bust! Highest taxes in living memory. Public services collapsing. The Tories cannot be trusted ❌

Labour aint good either

Since 2010 ythe Tories have borrowed 1.3 trillion (130billion last year) debt servicing costs have risen to 110 billion

Only borrow what you can afford! They need electoral oblivion to have some sound economic policies.@@SlowhandGreg

Wages have been in steady decline behind inflation since 2008. So when things get more expensive then the belt tightens.

Exactly, the "true" interest rates the world should be working at breaks an economy shows this economy was just surviving off debt

😂😂😂😂

Tory economics 101: If it can be sold sell it and if you run out of things to sell dont worry that will only be a problem tomorrow.

correct, manipulated numbers especially around energy prices.

yes and the tories caused covid STFU, go lookup labour would have done if they were in power when the tories wanted to close the borders to stop covid it was labour who were calling the tories racist, and what happen? we had a superspread, just like the EU saw, back in covid time starmer startred to lambasted johnson for not closing the borders labour are a hypocrite to themselves

@@stevenhoward3358and every metric counted around covid itself

The government isn't even responsible for tackling inflation

Just going to preface this with, I'm not a Tory supporter in the slightest, so I'm not trying to defend them. But, Sasha Yanshin seems like a doomer that has his income tied to clickbait videos about the economy.

... lettuce anyone 🤔

Build a Bigger Bazooka- Liz Truss

Liz truss will put interest rates at 0 in hopes of reducing inflation

Watching this while eating £100 worth of indian takeaway. Nom Nom Nom.... We have a couple business in cornwall and surrey, Since conservative took over from Labour business has been booming. We will support Rishi this year. We need to support indian people too because they make a really good curries. Sometimes you win and sometimes you loose its called life. There will be some pakoras left, any one wants some? It will save you going down to the food bank. Before that though Let me get back to my curries and pakoras. Rishi for 2024@@Mondfischli

@20 "the best way to tackle inflation is to take money out of the economy, therefore intrest rates are now -1%" liz truss 2025

Multi millionare*. The recession and the fall in standard of living is not going to affect him.

I also remember the "fastest growing economy" cope. They must have meant fastest in reverse.

@@TwelfthClover lmao there's definitely something going fast, just wonder in which direction

They think the economy is growing because they are managing to steal more.

Perhaps you would like to remember that Germany is re arming at an alarming pace? That Europe was happy to be enslaved to Russian gas before the Ukraine war started?

@@bingpzare you stupid? Pensioners still can’t afford to turn on their heating- I’ll take that cheap gas thanks.

Trickle down economics is a red herring; it has never worked.

I don't think either party is a good party. Tories are just labour and labour are just cowards, so that's says anything we need to know. Immigration and "diversity quotas" will only continue to happen.

New Labour is basically Tory 2.0.

Labour and conservative are one of the same

You have been had mate

I was too young to vote in the referendum, but I remember thinking "well, I guess we're doing this now". I also figured it would be possible to negotiate a reasonable deal with Brussels but the tories messed that up. now I doubt a good deal could ever have been achieved.

The amount of money with which the EU runs such a massive international organization is tiny in relative terms, you just fell for easy propaganda bro

The EU was actually fixing some of the issues that the Conservatives caused, particularly with fighting poverty. The EU was part of our protection from the Conservative Party. I think it might be that the Tories, when accurately described, sound like cartoon villains and it is hard to believe they can actually be that bad.

As a Scotsman I say hahahahahahaha and hahahahahahaha and We told you so

It's nonexistent we've had a decade and a half of stagnation

Great news. More British firms profiting is good in the long run.

"This NOT a typo error!" If it's not a typo then it's dishonest. What has actually been said is : "British Gas profits rise by 943% YoY ." That is not the same thing. Profits grew from tiny to good since last year. With a Market cap of £6.6bn the actual profit is about 12%. Not too shabby since profits last year were about 1.5%. And 12% profit is not outrageous.

@@gabrieldsouza6541Only to be sold to an American umbrella corporation.

The UK is in recession, any foreign direct investment in your economy is badly needed. You lot could learn a thing or two from the Americans on how to grow your economy. @@roman648

Which companies donate to the tories.

He cares more about banning disposable vapes than the ability to afford food and housing for the children who are apparently using them.

Sunak cares about making himself, his wife and his in-laws even richer. A billion pounds plus each in personal fortunes is not enough for that lot

Wrong. Under the last Labour gov we had Longest period of sustained low inflation since the 60s. Low mortgage rates. Introduced the National Minimum Wage and raised it to £5.52. Over 14,000 more police in England and Wales. Cut overall crime by 32 per cent. Record levels of literacy and numeracy in schools. Young people achieving some of the best ever results at 14, 16, and 18. Funding for every pupil in England has doubled. Employment is at its highest level ever. Written off up to 100 per cent of debt owed by poorest countries. 85,000 more nurses. 32,000 more doctors. Brought back matrons to hospital wards. Devolved power to the Scottish Parliament. Devolved power to the Welsh Assembly. Dads now get paternity leave of 2 weeks for the first time. NHS Direct offering free convenient patient advice. Gift aid was worth £828 million to charities last year. Restored city-wide government to London. Record number of students in higher education. Child benefit up 26 per cent since 1997. Delivered 2,200 Sure Start Children’s Centres. Introduced the Equality and Human Rights Commission. £200 winter fuel payment to pensioners & up to £300 for over-80s. On course to exceed our Kyoto target for reducing greenhouse gas emissions. Restored devolved government to Northern Ireland. Over 36,000 more teachers in England and 274,000 more support staff and teaching assistants. All full time workers now have a right to 24 days paid holiday. A million pensioners lifted out of poverty. 600,000 children lifted out of relative poverty. Introduced child tax credit giving more money to parents. Scrapped Section 28 and introduced Civil Partnerships. Brought over 1 million social homes up to standard. Inpatient waiting lists down by over half a million since 1997. Banned fox hunting. Cleanest rivers, beaches, drinking water and air since before the industrial revolution. Free TV licences for over-75s. Banned fur farming and the testing of cosmetics on animals. Free breast cancer screening for all women aged between 50-70. Free off peak local bus travel for over-60s. New Deal - helped over 1.8 million people into work. Over 3 million child trust funds have been started. Free eye test for over 60s. More than doubled the number of apprenticeships. Free entry to national museums and galleries. Overseas aid budget more than doubled. Heart disease deaths down by 150,000 and cancer deaths down by 50,000. Cut long-term youth unemployment by 75 per cent. Free nursery places for every three and four-year-olds. Free fruit for most four to six-year-olds at school. So yes. Labour will be a lot better.

Real wages are higher now than 14 years ago. Median.

@@Mantastic-ho3vm People love 'free stuff' ... Nothing is free forever. It's payback time. You failed to mention that price of housing doubled from 2000 to 2003, then doubled again, then doubled again. The only way this 'system' can continue is if the currency is continually devalued. So a £5.50 minimum wage is now a £10.50 minimum wage. Then is will be a £15.00 minimum wage, yet everyone will feel poorer.

Simple, only get your info from the likes of the DM/DE etc and you are under the impression that Britain is world leading in anything and outperforming everyone.

Some people have gotten very rich, all Indians and Chinese are certain to vote Tory.

I'm raw dogging shoes today

Brits, who are you voting for? (I'm a Singaporean fyi)

@@random-username5 anyone but tory.

I am wearing some white sport socks today, have a good one!

White sport socks with a Charmander on them!

To make it funnier they also had record immigration in recent years… of non-EU immigrants 😂😂😂

​@wotermelon_He Had a 4 Seat Majority After the 2015 General Election. That *Barely* Ended the Cameron-Clegg Coaliton. And David Cameron was Charismatic In a Way. Rishi Sunak Has Nothing.

Agree with you. Still wondering why the population has not rebelled because of the human waste dumping into waterways.

@@irwinsaltzman979 mixture of apathy and impotence I’m afraid.

That’s far too wordy

No thanks. I don't fancy the UK falling to the same level as Germany, Italy or Sweden.

I am wondering why Rees Mogg is still hanging around the public square.

Sure thing mate

Yes, basically that is it. Inflation was going to come down on its own. My pledge is to work to get the sun to rise in the east tomorrow

All on its own !! Nah.. ask Argentina ;)

True. There's no meaningful difference between 0% and -0.1% - and overall trends over multiple years are far more meaningful (and the Tories get worse the longer the timeline you use) - but it's the look of the thing. Also they get to call it the "Rish-session".

Indeed. A simple correction of +0,1% point of a statistic from a previous quarter can be the difference between a technical recession or not. In real life no one will notice the difference.

and look at the tradeoff between gdp and inflation - both fudged to begin with