Why the UK Got Stuck in A Cycle of Decline 

Britain"s biggest problem is its government. I'm not just talking about the people we elect. I'm also talking about the hidden mass of people we don't elect. Britain's class system means that too often the most incompetent muppets put themselves in charge of government departments, or public projects, simply because they went to Eton, Oxford, or they go to the right golf clubs. They leave Oxford or Cambridge and go straight into responsible jobs with little to no work experience. To make matters worse, Britain is over~regulated with bureaucracy so big projects end up in the hands of our incompetent ruling class. Until we have a ruling class based on merit and not family name, title, or old school tie then we'll always be in trouble

We seem to be stuck in a werid 2005 neoliberalism purgatory. We just can't seem to move on. Even our primeministers appear to be cheap Tony Blair knockoffs!!

UK right wing wants to be like the US, except without any international economic leverage or national resources.

It's bizarre that people think you can grow through austerity. You're literally strangling private sector finances when the gov taxes more than it spends

Mrs Thatcher said that you can ask 12 economists the same question and get 13 different anwers.

I was here when it said doop-loom

Start early with diversified investments in stocks, bonds, and real estate. Maximize contributions to tax-advantaged accounts like 401(k)s and IRAs. Regularly review and adjust your strategy to ensure security....

Literally only here for the phrase doop-loom.

The tax base in U.K. is very narrow. These people will leave as they keep getting hit.

The question is does the UK really want to boost growth by boosting industry, thats what Brexit was supposed to achieve, if you have strong industry then you have a stringer capacity utilisation gap for deficit spending. But do politicians that pander to globalism really want a rebirth of industry in Britain...

I understand that the myth of the "health care workers" shortage is being debunked as the medical school graduates and season doctors are beginnig to speak out. It is, in fact, the shortage of funding from the government for those positions, as doctors struggle to find jobs.

The UK is a second world country - it's just that most don't realise it.

The "free" QE money is now costing over £40 billion . Over £11 billion to compensate for dropped price ,BoE held, Gilts and £30 Billion paid to the banks on their QE money deposits. In other words anyone who bought or held a house from 2010 to 2022 gained at the expense of a later generation who not only had to pay a lot more for their, QE influenced, house prices but also pay with much more expensive interest rates.Triple lock is completely nothing compared with this.

I notice how he slipped in low productivity growth in the public sector (saying it was “particularly bad”) in the last 10 seconds. I don’t believe I have heard him mention it in any of the other videos. Measuring productivity in the public sector is particularly complex and difficult, so it was convenient for him to slip it in at the end, without elaborating. For many years it was measured as output = input, and for around 50% of the sector it is still measured this way. May be he could create a video on it?

Wondered what you thought about the effects of wealth to income ratios, and trends in public wealth vs private wealth

Importing huge numbers of low skilled immigrants does not help the economy. Some will thrive and prosper. Many more are a drain on Government finances as they subsist on benefits and have dependents who will never work. Labour shortages are mostly in low wage jobs and whilst some vacancies may be filled many workers will need to claim benefits such as Universal Credit to help with accommodation costs.

Same problems in Ireland. I suspect it's similar across the western world.

Countries that borrow in their own currency cant go bankrupt

Another great video. Thanks a lot.

If the UK government has no money,the USA government has no money then who has got the money,???

I don't understand how India considered a third world country is second on the list of total investment as a % of GDP, and look at where the UK is.

Deregulate, ditch the net zero garbage, and give companies a reason to invest in the UK.

We seem to spend a lot on Tax, however, how effiecient is that tax put to work, and how efficient are our public institutions, these, I think are areas that the UK should focus on in a post industialised economy. Additionally can we not diversify our industry away from finance/service sectors to something else? Also what about alternative forms of energy, is it too crazy to consider nuclear power stations or coal power stations given the energy crisis we had? Between the bad planning laws in the country, lack of govt investment in repurposing existing buildings and general lack of coherent strategy by any poicitical party, I would be surprised anything is going to change soon. The decline has been visually evident over the last decade or so, and we don't seem to have learned that quantitive easing is bad and selling off our assets is also bad and that you need to make something people want to make money/capital.

Because they banned all cheap energy inputs to the economy, and the economy is a heat engine.

UK could totally do fracking

You can't have austerity in a decade long deficit and government debt nearly tripling.

Well I think the UK is doing better then the way people feel, even if wages have not kept up, housing cost issues there is probably a gap between sentiment and actual real financial standing of the people at least the middle class. You see the seme issues in Canada, US and Australia, the impact of inflation requires adjusting spending on a personal level and that can be hard in a consumer and services society. The UK after a few years of higher rates, lower consumer spending, should have enough gap to bounce back in the coming years but it could be that much better if some actions were taken today. Anyway, I just think the UK will bounce back as rates are lowered in the next few years to come but the UK has a large engine of growth that is held back on a number of fronts. Lack of industrial policy, over regulations, lack of high earning wages outside of a few cities. The company I work for has an office in UK, but of course it is in London, why does it always have to be in London? I hear the workers complain of the high cost of living, why not offer incentive to have companies re-locate their UK office to a lower cost city, allowing injection of higher wage workers and the services they consume to less wealthy cities. For example the company I work for has an office in the city of Reno Nevada which is not a wealthy city by any means but the workers that move to the city boost the local economy and in return get to enjoy a low cost of living while still making very good income levels, buying them more purchasing power and much lower cost of living.

It’s too late… the UK is a “lost cause”… I’ve left 🖕🖕🖕

A doop loom? You mean doom loop?

only hope i see is if the UK gets a better trade deal with the EU and when interest rates drop spend like crazy on investments.

How how how can you get investment in productive capacity and increase exports in the UK ? 🤔🤔🤔

I DO NOT believe it is CONSUMERS!!!! who are saving more. It is NOT CONSUMERS. No way. it is the very rich, who own assets. Those are not your average consumers!!!!!

It was a decade for asset holders and Austerity for the rest 😂. The U.k has already secured further decades of austerity . I pity those not in the top 10% salary range.

The gov needs to invest public money in publicly built homes. This could be done via gov loans and be administered through bodies like housing associations. Leaving housing purely to the private sector has already proved of limited value in boosting housing numbers to proper levels. Investing gov money to build houses is surely a long term tangible benefit to the country the same as building railways, roads and energy infrastructure. As you have mentioned it all depends on planning reform.

09:50 US is better than UK but only because of a few tech companies and fiscal deficit spending by the us government. Most new jobs were in the public sector.

Go ask Singapore how they did it? Sneding 45% of gdp.like uk is not ok

yeah the US givt can borrow the $s it needs from the private sector , because the US fed which is part of the US govt cannot create $s?!?! make it make sense?! Borrowing is issuing liabilities it isnt borrowing as in borrowing from someone the US govt issues liabilities (Bonds) The Fed issues its liabilities (new Reserves) in which the comercial banks then use to purchase the Bonds. All govt money , just different liquidity Its not that hard , its just legislation

Ask Shylock that ruined you to lend you money. Shylock will take your pants off. I think you call Shylock the "Bank of England". 😂😂😂😂😂😂😂😂😂😂😂

What is a Doop Loom?

*Doom-Loop Not 'doop-loom' Ha ha! :D

If people's incomes are all going to filling the pockets of landlords, then of course people will not have money to spend resulting in economic decline.

Awesome. Labour party landslide victory. But deficit £120 billion pounds borrowed PSBR.

2:50 Are those figures in real terms? Are they per capita? 3:18 So, US has moved away from neoliberalism back towards Keynesianism, but UK has not. 4:17 A useful figure would be home square metres per person. 12:14 Productivity in what is left of the public sector is difficult to improve - it is dependent on people, and cannot be improved drastically by technology - the only way of improving productivity is to reduce public sector wages - the standard Tory approach. Since Thatcher the government has adopted a hands-off approach, except where it would benefit London and the sarfeast. The North was shafted. Not everybody is going to get a I or IIi in Maths and go into the financial services industry (I escaped just before the _Big Bang_ ), and governments have assumed that those in the North are net negative contributors to the economy. We must throw out this religion of Hayek, and return to pragmatic economics.

Doom-Loop not Doop-Loom XD

Time to move to the us?

Because the government and corporations conspired to keep wages artificially low. What’s the point in working hard for a pittance?

doop-loom.

While the parties busy at distributing investment money to public service, tax everyone on highest level, heavily punish hardworking and entrepreneurship, what do you expect?

Manufacturing began to decline in the late 1950's and not the 1980's as you claim

Nothing to do with stopping pension companies investing int he uk by getting rid of the tax benefit to the pension companies then? At a time when the uk economy was doing well. Seems that all this channel does is point the finger at conservatives and say it’s all their fault. Conveniently forgetting the ineptitude of the last Labour government making growth on unattainable borrowing via un regulated fractional reserve lending. The credit crunch hit the uk economy hard because of the policies of Labour. They also amplified the house price to wages gap. Gordon brown also failed to do anything about getting the finance industry to pay back the billions they were bailed out. Austerity was necessary to give confidence to public borrowing but Brexit stopped the uk changing tack and starting to invest with the low rate of borrowing. Your highlight of the US economy is laughable given their 33 trillion debt pile they are pushing up daily. It’s easy to create growth with borrowing but not so easy to create it through well targeted investment funded by targeted borrowing. You also fail to mention the vast amount of money printing the US did creating the cost of living problem.

doop-loom... or doom-loop?

This country is cooked

Low productivity since 2009 🤔 there was simbolic wage growth since then and workers simply adjusted performance to their pay and they still doing it. It is still make more sense to skip day at work and get paid in universal credit than work overtime and be punished at least 30% tax deduction for doing so. Government set's minimum wage rates so absolutely minimal amount of income to live of and than tax it 😂 Benefits are tax free. Staying at home saves money on commuting...

Just increase taxes

How people think there has been austerity when taxes are the highest in 70 years baffles me ! The lack of investment in the UK is because its very difficult to get a decent return for your investment. Very high Taxes on business has decimated the High Streets, we have the highest business rates in Europe. 80 Pubs a week are closing but we have the highest Beer Tax in Europe, Buy to Let business has collapsed because of high taxes and stupid regulations. We also have the highest energy Tax rates in Europe. Nobody is going to invest in the current UK and it will no doubt get worse with Labour. Brexit has nothing to do with this, the Country has been in serious decline since 2000. We are of course not alone Germany, France and Spain are all in serious decline too, Oh wait, just maybe, the problem is the bureaucratic, anti business EU ?

Why on earth did you vote for Brexit and that Farage guy will be voted in, have you not learned UK?

Le Pen on 37% in France by the latest polls. Goodbye EU. 😂😂😂😂😂

Vote out the right wing

First like

I blame Brexit, lol. How's it going across the EU?😅 The caveat though & with Liebour coming to power, this should decimate the housing market quite nicely!

THERE WAS NO AUSTERITY

Socialism

I'm tired of the constant bashing of immigrants. It would burst these nativists ignorant bubble if immigration was shut down for 5 years. They will soon see like Brexit that hanging decades of mismanagement on one thing is just plain dumb.

Please stop going on about the EU.. you're becoming annoying

If you're a young man my best advice for you is to work under the table save up your money do not invest in this country and get yourself out of the country because the system you are living under is an extortion racket

All is well say everybody All is well , Say Loudly All is Well 😂