American Reacts to How is the United Kingdom so Rich?
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- เผยแพร่เมื่อ 1 ต.ค. 2024
- Is the UK rich? As an American I can’t say that I know the true answer to this question, but I am ready to find out. I have no doubt that the UK is indeed one of the most powerful and influential nations in the modern world, however I am still curious to react and learn about the UK economy and wealth from my American point of view. If you enjoyed the video feel free to leave a comment, like, or subscribe for more!
Considering we are a tiny group of islands in the North Sea, we don’t do bad
Not true. We're on the planet's 9th largest island.
what a wonderfully positive reply - shame someone managed to find soemthign pointless to disagree with you about.
@@neuralwarp Great Britain is no more than 900 miles long from the lowest point in England to the uppermost point in Scotland .... And not much more than 400 miles wide .... In the grand scheme of things ... That's TINY ....
@@Paula-dl9ky that is not exactly true, the distance between the southernmost and northernmost parts of mainland Britain is 603 miles and this is also a diagonal, so again not the true length of Britain. Also you are never more than 75 miles from the coast anywhere in mainland britain.
When you consider that the U.K. is FORTY times smaller than the US then our economy is even more impressive !
population wise, it's about 5 times smaller
@@michaelqdlap Yes and I think it matter a bit more than land area
Very true
The land mass has more importance that you are giving it credit for. Large countries have access to huge quantities of natural resources that we just don't have.
America has wheat fields bigger than the average county in England!
Another thing to keep in mind too is that we get a lot more for our taxes e.g. healthcare, public transport etc which is important when comparing wages
This must be an old vid as we're reduced to eating rats and wearing their pelts to keep warm this winter.
No rats left the fatties at the food bank ate them all.
A whole new meaning to rat arsed
I've already eaten my two cats!!
@@franceshall3615 same. They were stealing my rats!
And blackouts this winter mate 😮
The Union Flag at 3:05 is upside down. It annoys me 🤣. I'll have a word with Matt Baker on Countryfile. He should know better.
Hi Tyler, before I respond - can I just say how much I enjoy your posts. You always make me smile - I love the way you react to the videos. You aren't judgemental - just curious and I suspect that what we see from you is a gold plated genuine reaction. By the way - as a gay guy - can I just say that you are extremely good looking !!!!
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Considering how we pissed away our entire car, plane, train and ship building industries in the 70s and 80s and gave up on computers, which we were market leaders in the 80s and our movie industry is practically non-existent I have no idea where our money comes from apart from Adele, Cold Play, Top Gear and Dr Who!
And the Council House giveaway
Proximity to Europe??? 🤔🤔🤔
We ARE European!!!
The EU is NOT Europe.
Btw, English Common Law, written way back a hundred or two years ago....ish.... is the foundation for American Law. 😁
Yes we are forward thinking, no point waiting till you're sucking out the last cupful of oil or spoonful of coal before worrying about alternatives. We're far more eco friendly than the US...to quote one of my favourite (now deceased) comedians, Sean Lock :
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*"I make sure to recycle everything I can, save energy etc. I want my children to inherit a cleaner Earth, and I do my bit to care more about our planet. Then... I go to America. The cars are huge, the houses are huge, the people are huge. Everything is so wasteful and they're way behind in terms of eco awareness. I feel like I've turned up, to help out after an Earthquake, with a small dustpan and brush! Can I help....? Oh what's the point, my bit of help isn't going to make any difference!"*
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(Not verbatim, but along those lines.)
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So yeah we're very inventive and like to plan ahead, and that sums up a lot of us individually as well. If a resource is thin on the ground, why waste time haggling over the small amount left and paying through the nose for it, when we could come up with other ways of producing the same outcome. I think, I saw in a video, that we have the largest wind farm in the world...or something close along those lines. I've also seen 2 or 3 videos now, from American people visiting over here, who pointed out things that clearly stood out to them, and a lot of those things revolved around being more environmentally friendly. For example, if we're buying a ton of groceries, you are charged if you need to use carrier bags from the person serving you. Everyone generally keeps foldable fabric grocery bags for shopping trips, that can be used time and time again to reduce plastic waste. Little things like that are woven into everyday life, to keep us motivated to recycle more and waste far less.
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As for manufacturing, you have to remember the majority of us live in historic buildings. I don't mean historic in terms of importance, although many do live in listed protected buildings and castles etc. But I live in a bungalow built in the 1950's, and many people live in Victorian houses, or even original Tudor period houses. The US builds homes predominantly with wood, we don't, so we don't have to keep building and manufacturing homes, except for population growth, because we often live in the same homes that people did 100-500 years ago! The exact same homes! Our local church was built in the 12th century, our town's shops are all in former Tudor houses, our pubs and hotels were inns 500+ years ago. As my Dad always said to me growing up, "if a job's worth doing, it's worth doing well!" Of course we have a ton of newer developments and buildings, but there's not such a need here for a turnaround on home production. Manufactured homes are not really a thing over here, only a tiny fraction of people live in mobile homes, and most of those that do, are sited in retirement parks.
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As for the average wage comparison, don't forget our healthcare is $0! No insurance or costs for anything, except a token payment towards prescriptions, and a lot of us, me included, don't pay at all. Even transport to and from hospital appointments is free for me. I receive benefits so even my rent and home maintenance is free. Travel costs are lower because of better public transport services and shorter distances for those who drive. Most of us live no more than 5-10 minutes walk away from local shops, generally providing pretty much anything you'd need, and larger stores are usually 5-10 minutes drive away. It cuts out a LOT of travelling.
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Being only the size of ONE of your 50 states (I think England approximately equals Alabama in size) yet even so, having one fifth of your population, living in one fiftieth of your space, our homes haves to be smaller, closer together, more efficient, nearer to facilities and services, and naturally that cuts down on travel, maintenance, costs and time. I mean how else would our workers get to enjoy their 4 weeks+ paid leave annually? 😁 Most Brits hanker after a GOOD life, not a BIG house. I mean we all have moments of thinking about winning the lottery, but realistically, most Brits want to get OUT of their homes and go have fun. We're not (generally!) bowled over by material wealth, I mean if I got offered a big house, all I'd see is housework and decorating! Sod that! That's not "living" for the majority of us. We want things easily cleaned and tidied, so we have more time to see family and friends. In America you're driven to have bigger and better and earn more and buy more.... we're not really like that. Some are obviously, but the majority are not.
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You'll have to come over and see for yourself! If you're not offended by swearing, (normal vocabulary over here! 😂) *AND* if you can hold your drink, you'll fit in fine! 😁
Thanks for commenting on the post
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The UK is a poor country with large numbers of rich people (but who are a tiny percentile of the entire population) living in it. A few more decades of Tory rule and the poor will get poorer still and conversely the rich will get much much richer.
I work for an advice charity in the affluent south of England. At least 50% of our work in the last two years is now poverty and debt related. Yes, there are people who are just silly with money; but we are helping people to access help with debts, food, rent, sim cards, beds, fuel costs and school clothing for their children, even in families with two parents in work.
"Bangkok? I don't know what's there" - yeah right....we believe you
Bangkok, the clue to it's reputation is in the word!
The time zones are advantageous to the UK because it was the British who set the prime meridian/zero line of longitude in Greenwich, UK in the first place. 😁
Yes,andvthe EU wanted to change it ,to German mean time.
@@davidbrown2571 Could you be a bit more specific about that? When was it proposed and what happened?
@@Salix631 it was proposed by the EU 5 years ago ,I presume to cause more problems for the UK along with the Northern island protocol, I have not herd anything since ,but the EU have been trying for years to take awY business from London to punish the UK for daring to leave the block .
@@davidbrown2571 Ah right, its another 'the EU are banning bendy bananas story'. There was a suggestion to remove the annual clock change, but I don't know of any suggestion that the prime meridian should be moved.
If the prime meridian were somewhere other than through the UK, how would that be disadvantageous in terms of time zones?
Surely the basic relative geography of the globe determines the advantage rather than where an arbitrary line is drawn on a map?
Am I missing something?
We don’t have the space for lots of agricultural and manufacturing industries. As a Londoner I can say that part of its beauty is the buzz and diversity, it is a city that never sleeps
Over 70% of the UK is basically already farmland, tho I'd say we still have space for manufacturing, after all many cities around that were manufacturing are still around. It's pricing that knocks us out of most of that, just more expensive to make a factory and hire workers in the UK than say China, India, SEA, etc.
Yet the tube shuts down at midnight.
@@seansmith445 i,d rather walk or catch the bus than go on the tube anyway. only been on it once, & i couldn,t wait to get up to ground level again, too closterphorbic for me when yer not used to it
there,s plenty of room up north where people struggle to find work, to build factorys etc, we originaly had & manufactured everything, & showed other countrys how to do & make things, & now its them that have taken over, cos they,ll work for lot less than what you need here, but anything that was made here will still, by far, out -last anything thats made anywhere
@@michaelgoulding6609 London is 30 miles across. Too big to walk.
What's in Bangkok? to quote Al Murray a comedian you should look up :)
The clue is in the name.
As a multi generational Londoner, I can honestly say that London is a very vibrant and historical place and I am proud of my city and indeed country. It does have poor people that struggle and food banks are necessary, sadly but we also have an amazing welfare system that is overburdened but beloved by many. My daughter runs a couple of businesses in London so I believe that if you have an entrepreneurial mind London is the place to be.
I love my London 🇬🇧 The thought of living anywhere else is far from my mind
Yeah, it was particularly vibrant in Bishopsgate yesterday.
An amazing welfare system yet poor people need food banks is contradictory. Food banks should never be a thing but them tories are to busy lining the pockets of they’re rich chums
london is ok to visit for a couple of days, but after a couple of days, at the most, i can,t wait to get back home up north again, so i def couldn,t live there.
@@michaelgoulding6609 I was born here so I am used to living here. I get why others can only take London for a short while, it’s hustle and bustle can overwhelm.
As a business owner in Buckinghamshire I think you need to get out more. London is not the only part of Britain to do business and the whole country has positives and negatives. The industrial revolution fuelled the northern cities and the modern tech industry is in many areas.
What most Americans don’t appreciate is that companies require a stable environment to thrive, hence political stability, the rule of law, a healthy educated population are all necessary
There are a lot of non patriotic people in the comments section. Wow!
If you don’t love your situation, change it geez!
I like how they talk about the industry. I work in the steel industry but we don’t class ourself as a steel works. We are a recycler of scrap metal and 98% out the material we use are recycled. Not only that we use a state of the art EAF instead of a blast furnace which is more environmentally friendly. We also have a NetZero carbon target of 10 years prior to the government targets.
The U.K. leads the way in innovation and some times fails in things but we believe and we achieve
That is amazing. We should shout more about these things. Thank you for this information.
Housing costs are ridiculous like my dad's house, was worth around 100k when he got it, but with recent development, the houses in the area are 2x or 3x the house prices
We invented the lines, so we dictated the time. Same with the Business language of the world, we went on a world tour and demanded everyone spoke the lingo.
We are on the brink of an economic crisis which a massive portion of this country is sleep walking into
On A.I. check out a robot called 'Ameca'. Made in Cornwall, UK
Who noticed that the Union Flag was flying in distress at 3:16?
Yes it's upside down.
Yes
Yeah, the flagpole should be on the left side of the flag to be the right way up!
You use to see people at football matches waving the flag upside down because they don’t know the difference, also people don’t realise there’s an etiquette in flying the flag and the rules surrounding it!
Tyler yep. Since a HUGE chunk of English Law is used as the basis for many countries around the World - legal services are indeed a major export service.
This along with Banking - Accounting - Advertising & Marketing (including many foreign language ads in the EU etc) - not to mention movie (film) making. Also banking - where the UK has the largest banking sector than the rest of The EU Combined. Even The German Government comes to London to finance itself (check it out) - this is one of the reasons the EU ''decided toe xtend UK access to its markets'' - in reality it was the other way around.
The UK also has the largest Aerospace industry in the whole of Europe. if Rolls Royce Engins are bought then 60% of all Airbus Jets come from The UK.
In the west The UK is the second top exporter of programming and films (after USA) and many “USA” films are produced in UK including: Star Wars - Captain America - Iron Man - Mission Impossible to name but a few.
London currently produces approx 800 films a year (Hollywood about 1200) - but London has film capacity currently being built or in planning to produce around the same as Hollywood.
There will always be people who feel the need to trash The UK - but that does not alter these facts.
Let's discuss, 👆 I've got something to introduce to you okay.....
I therefore dont know if you get them. but I asked ''do I whatsapop that number?''
I mentioned I keep posting my replies her e- but they keep vanashing. I hope this one manages to stay put.
crazy to me that i live 10 minutes from one of the most fascinating, influential cities in the world
Rich?! Sadly many are living on the breadline (the level of income which someone is considered poor). Many have turned to food banks to keep their families fed. I've had to use them before now. I felt terribly embarrassed about this, and felt like I had let my family down.
Yeah but that’s individuals. The actual country itself is rich. Don’t feel bad about turning to food banks. You’ve got to do what you’ve got to do. You’re letting no one down by using them. You’re ensuring you all eat. I hope things get better for you.
.... understand you are poor bcs they are rich. the poorer you are the richer they get. so saying a country is rich means they also have alot of poor people.
@@p.alterego3424 It has been the same in Countries around the World for thousands of years. There has always been rich and poor in some form or other from tribal chiefs to rich Capitalists in modern times. It will NEVER change so just live it as we always have. Jealousy never got anybody anywhere. Enjoy what you have or go out and get lucky and be rich. Good Luck. 👍
There's only one reason why Bangkok is so popular ;) ;) ... so I've heard (ahem)
I don’t feel very rich ! 🤣🤣🤣
That Union Flag is flying upside down, normally a sign of distress when on a ship.
Unfortunately, Britain may innovate, but we have exported much of our production to other countries. We have also sold many of our utilities to other countries. China owns at least one water company; EDF is a French company which controls much of our electricity. German companies own some of our railways, profits from which subsidise German rail fares!
HI TYLER
DEBRA HERE FROM SOUTH WALES UK
Ye Gods where do they get their figures from. When I was working not so long ago I was on an average of £12,000 per annum, to get that figure of £41K per annum they were taking in the top professionals in the country such as Barristers, lawyers CEOs, I never knew anybody who earned more than £20K per year. I could only dream of earning such a sum if money.💰 💰 💰 💰
Rich? We’re in a financial crisis right now-
Everyone knows it’s America that’s the richest country at least that’s what Americans thinks!!!!😂😂😂😂😂😂😂
Evan Edinger just did a video comparing a UK grocery shop to one in the US, you might be shocked at how much we pay for our carrots compared to the US
@Ray H. Sshh, you'll ruin the surprise!
Just don't mention what's happed to UK finaces in the last few weeks. Eg mortgages rates have trippled.
It's easy for westerners to forget the contries with huge population like Indonesia, Nigeria, Russia, Pakistan and Brazil. (Just off the top of my head)
US salary pr year is 54 k's??? In average??? I have like...21 k here in Norway, before taxes. But then adain...I'm always hungry.
We could be - sadly, right now, we are not being managed well for various reasons - mainly COVID, an attempt to “save the world” through an impossibly unachievable green agenda instead of using cheap, easily accessible and cheap energy, (as happens in China and India) and, for the future, demographic probs.
For our size we are grossly over populated,When I was born in 1954 population was about 55 million.Now it's close to 70 Million.
Actually a bit less than 55 million in '54 (more like 52m) but I only know because I checked the census records certain that your estimate was significantly wrong as I thought there were about 55m when I was born in '80. Turns out we were both approximately right and the population barley changed in the latter half of the 20th century gaining only about 1 million people per decade over the period, but since 2004ish the increase in population has risen significantly
America is 40 time bigger the England. Most SUCCESSFUL American , if you go to their ancestry they are British.
A country that is in billions of debt is not a rich country the UK is in so much debt if divided by every person in the UK that 35 thousand per person in the UK so do the population of the UK multiply by 35 thousand then you will see we are far from a rich place
If you come to the UK come to Newcastle, nowt like London, no way as big, vibrant etc.. BUT what a beautiful place it is #Jewelinthecrown - TBH we live in a beautiful country with lots to see and although London is fantastic, it's not all we have to offer. We are all amazing!
The land the brought world the industrial revolution and the seed drill, no longer makes anything and imports all its food. Classic.
Unfortunately the UK has been crippled by debts owed to the US since WW2 and only managed to pay back the loan a few years ago. Rather than provide aide to the only country left standing in Europe to challenge Hitler, the US charged it all to Britain and may have even profiteered from it. You could almost argue that Germany fared better financially from the war on that basis.
Why do you think the U.S did so well in the 50's and 60's...
This isn't really true. UK was one of, if not the largest recipient of US Marshall aid at the end of WW2, most of which was written off. We were only paying a pretty small amount back to them, Germany and France just made more of the US aid because they spent it at home on national infrastructure and welfare as opposed to us who spent it trying to keep the Empire together and maintain our superpower status...
Its not unreasonable to pay back your best mate after he has helped you through a bad time. We took so long paying uncle Sam back because the interest rate was so low that there was no reason to prioritise this over all the other debts. What hurt Britain in the post WW2 era was that we weren't as badly hit as the rest of Europe by the war. Most of the factories remained operational and so continued operating post war as they had pre war, whilst the newer factories in Europe had significant productivity gains over the UK, couple this with strong unions that resisted any changes that threatened jobs and a management layer appointed more out of respect for military rank and service in the war than actual business acumen and we ended up with decades of poor productivity in existing industries
In addition we (like France) held onto the prestige of empire post war despite there being no financial benefit after the independence of British India. Most colonies were a net drain on state finances even before insurgencies required costly military intervention to prop up the colonial administrators. Britain would have been better off granted independence to all of its colonies and protectorates immediately after WW2.
It took the United Kingdom till to 2005 to pay off its Lend Lease depts to the USA.
I have not managed to find out why Soviet Union ( Russia), and France did not have to pay cent back to the USA ?
Also strangely the USA was twice as rich as a nation in 1946, than it was in 1940, just check the statistics.
Every country in the world prospered after the war ,but the UK paid through the nose for weapons to save the world from the natzis.
From someone born in 1958. People don't know how lucky they are today. The poverty line is so high now, people think if they can't afford the latest gadgets or a newish car they are poor. I grew up with no mobile phones, black and white TV, no computers, my dad had a 15 year old car, my first car cost me £50. To people who say we are not well off, I say try living on the streets, in Africa, South Asia or Russia.
Seeing as every town and city is now full of food banks I'd have to disagree. Inequality is ridiculously high in this country.
@@sunseeker9581 no such thing as food banks back then you either grew your own food or you went without. Food banks are just another hand out.
@@orwellboy1958 so how is someone in a flat supposed to grow their own own food? Or do you just want to moan?
Have to agree with Just Dave, in that most people in the UK have flat screen tv's, dvd players, pc's, laptops, mobile phones. People in many nations don't have it so good. I know people that go to these food banks because its free food or £3 for two carrier bags of food. The actual number that really need the food banks is much less than any official figures. We still have it good, next to most of the worlds population. Our poor are not like the poor of India or Africa or China. We have great institutions like the NHS that most nations do not have.
This country is going backwards.
Doesn't matter how much money the US makes most of the population doesn't see any of it. Peace out.
Tyler you queried the bit about the influence of the law on the size of the economy. Certainly the honesty/fairness and comprehensiveness of the UK law adds to the certainty (minimising risk) of doing business in and with the UK. Also the UK is one of the worlds larger jurisdictions for resolving international commercial disputes, and others are often based on English (which has some differences to Scottish) commercial law.
The British invented the computer and the world wide web.
That depends on how you define computer, but the first electronic digital stored program computers were both British.
Because of Colonization and looting sector uk become rich
Yes, the UK is a global contract law hub. Two American companies often use English courts for contracts, rather than US federal or state courts. Note, England and Scotland have separate law systems that only touch together at the Supreme Court.
I know this is a reaction video try letting some of the content play and less off the Waffle try raining it in
This video as it happens is not very recent as the last few months the UK has had some financial problems (for example the government nearly crashed the economy). There is a big wage gap in the UK stats show 22% of the population are below the poverty line, 43% of the UKs wealth is heald by 10% of the population. You dont see people reacting to the worst/ poorest places to live in the UK but the videos are out there.
So some of those small countries with which are small but rich are Tax Havens where rich people hide their money from the tax man.
Rich 😂 i working 40hrs and still can't afford cost of living 😕
@John Ashtone so you telling me, by reading a book, it's going to stop companies raising cost's? Don't quite think so 😂
i watch your videos. do you read the comments. if so let me know please.
You might find it interesting to do a video looking at The Shard building in London. Also Canary Wharf and the history of Canary Wharf before it was built on, it was by the London Docks which had a fascinating history.
NO we did NOT "loot" our colonies. We established colonies for the purposes of trade. The local people invarably asked to join the Empire to take advantage of our military protection, medicine, education, and technology.
A good example of a significant UK tech company is ARM (Advanced RISC Machines) a British company based in Cambridge. It developed the RISC (Reduced Instruction Set Computer) computer architecture which combines high compute power with low power consumption. As a result ARM architecture chips are used in all Apple and Android smartphones / tablets and in Apple's new M1 & M2 computer chips used in the company's laptops and desktop machines. Most of the multiple microchips used in cars e.g. ABS systems, engine management systems, driver assistance features etc. are all based on ARM designed computer chip architecture. The worlds fastest super-computer (2021) is the Japanese Fugaku super-computer built by Fujitsu but utilising British ARM designed ARM A.Arch64 chip architecture.
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ᴛʜᴇ ᴡʜᴀᴛꜱᴀᴘᴘ ɴᴜᴍʙᴇʀ
We also have the world's most advanced satellite production facility.
@@neuralwarp I didn't know that - interesting.
@@neuralwarp Yup the world’s largest and most technologically advanced commercial communication satellite, the Inmarsat-6 is produced by Inmarsat - a British satellite telecommunications company based in London, UK 🇬🇧
ARM created a specific type of RISC architecture. It wasn't the first or the only one to do so, but it's original design was a cheap one with low power usage and was thus well suited for phones and embedded systems.
Context:- Texas is 7 times bigger than our nation.
More advanced economies tend to rely more on services. They also tend to do more value-added work as opposed to base processing of raw materials, resource extraction, and similar activities as a share of GDP. Of course that is a generalization and the actual numbers vary. In fact, there are different ways to rank the world's economies. If you compare the different measures, you will begin to get a picture of wealth inequality and country specific dynamics.
we have gone green. we dont mine fuck all anymore
Bangkok is the gateway to SE Asia, one of the (if not, the most) highest visited areas in the world. That's why.
Wow! Go London. Wouldn't the Romans be proud. Wealth distribution in the UK is criminal, or would be if the wealthy didn't make the rules.
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ʟᴇᴛ'ꜱ ᴛᴀʟᴋ ᴏɴ ᴡʜ-ᴀ-ᴛ-ꜱ-ᴀᴘᴘ
you should look at why the uk is the centre of the earth
Bangkok Thailand? Ladyboys lol
Not at the moment we're not. Thanks Tories. :/
15:20 well we are an island we kinda need them to get off and on it.
The Union flag was flying upside down.
You have to also not that the average salary in America is only really because you guys do not get holiday leave! While in England the do! So we work less then you all in all we have a higher wage since we are not slaves
We also paying for China's economy too, plus, 800 billion dollar military budget that you don't!
Well I'm English but im skint as fuck . lol
Look up the industrial revolution
I think we've dropped down to 6th or 7th since then?
Hmm Tyler got multiple channels dedicated to different nations, but the channels have different last name (bucket, walker, rumple)
Manchester has skyscrapers now
Would love to see you investigate the Industrial revolution, British inventions, or the evolution of the English language that you speak (hint: it began with a group of invaders from Denmark and Northern Germany, not Britain)
British invention?? The Scots are the inventors too many to name all, Television, logerithms, rubber tyres, Tar Macadam roads, even gave the U.S.A pointers on what a constitution should be, invented Football(Soccer) passed it on to Brazil and Argentina.Just a wee sample!
The thing that people also dont think of, comparitive to france, the uk has under half the landmass area.
Manufacturing was huge in the uk until late 80's early 90's ..... there was always work available easily in some factory or another until the late 80's, then it started to become a battle royale to get any localised jobs and everything started to be passed across to employment agencies.
The Laws for example mean that workers have a basic right to 28 days holiday a year and 7 to 10 days sickdays a year, things like that
So addictive this guy has become LoL
That you, Yoda?
No everyone is not rich
You pause way to much.
100% the bean sales XD
sad to say, not so good these days!
Also, people can contact a particular Lord with their grievance and be heard which I find interesting
Its only appears fascinating because members of the upper house of Parliament are called Lords, if they were called senators it would be ordinary. The vast majority of members of the upper house are life peers, they are ennobled with such titles as Lord of and sit in the house of Lords (either for life or until disbarred for non attendance or criminal conviction). The title is not hereditary and the Lords are primarily retired politicians or people with specific qualifications or experiences (or party donners who really wanted a title; though of course the donations had nothing to do with the appointment ). The house of Lords has little actual power, its primary purpose is to review legislation language. Whilst it can propose amendments it cannot block laws only delay. It has no say over the budget.
Whilst members of the public can contact any Lord with a grievance, they'd almost certainly be better off contacting their local MP, who as a directly elected politician has far more incentive to assist someone who can vote them out of office and as a member of the House of Commons (where almost all power effectively resides) may actually be able to do something about the grievance. For example an MP can propose their own piece of legislation as a private members bill, but a Lord cannot
London is Rich. The UK barely sees much of it.
The UK did kickstart the Industrial revolution but much of the industries from that period got off-shored years ago, we are highly reliant on our service industry, esp. finance. London is one of the financial capitals of the world and seen as the safest of those, where as New York for example might be less safe it's got a bigger potential on returns so slightly more attractive to riskier investors, And then Tokyo is just up behind those two. Some were predicting Hong Kong would become the 4th but given the recent history of CCP intervention in Hong Kong and the general state of China as a whole, that appears to be a disappearing trend.
The main reason UK lost it's manufacturing base was salaries, it simply became cheaper to hire people in other countries like India or China than the UK and so the UK shifted focus from manufacturing to service industry, unfortunately this process was devastatingly sped up by Margaret Thatcher and killed off a lot of manufacturing and mining in the UK way earlier than it should have died off naturally from market pressures, making many towns and cities reliant on those industries into serious economical recession on a local scale. Some cities and towns are bouncing back now but in the North the effects can still be felt in some places even today. Margaret Thatcher is generally not popular in the North of England as a result.
In the long term, the UK has a deep reliance on the service industry and if the UK were to start to lose that too, it would be economically devastating, far worse than either COVID or Brexit. Notably China wanted to switch to being more service based as many population centers in China had increasing salary expectations that would not have kept China the cheapest place for manufacturing any more, altho that has actually been true for a while. To get away from the salary that China was happy to turn a blind eye too in many factories, many companies have already started to shift production to other countries anyway and that switch to service-base for China was too slow, which releases some immediate tension on the UK.
As to why UK led to Industrial revolution, the simple but probably incorrect answer was the size of the British Empire, the more likely answer is that UK had an agricultural boom due to some of the farming innovations in the early 18th century which allowed the UK to more easily support larger cities. While the agriculture boom was the likely primary driver, the size of the empire still would have at least been a contributing factor, giving access to more resources than other countries had and part of the reason the UK maintained a "commonwealth". The commonwealth of nations meant to serve as a reduction between trade barriers of former members of the empire.
As far as the UK economy is right now, and this is an issue for most of Europe, the imports are higher than the exports, a healthy global player wants imports to roughly be equal to exports and for both numbers to be high. So the UK, like most of Europe, is likely facing some economic woes going into the next decade. A lot of this issue could have been avoided by Europe investing more into Africa and helping to stabilize the region as Africa has significant numbers of resources which can be mined and part of the reason China wanted to invest so heavily in the region, to control those raw materials, but perhaps the same reasons China is having issues with those regions is why Europe didn't do that.
the comment of financial hub of the world is debateable, New York is normally consider the top city in the world for finance but its very close with London due to all the different sectors of finance and depending on what statistics you use can change between the two cities quite frequently.
I think the main difference is that other American cities are now competing with New York for her title. Most major law and accountancy firms are shifting their focus towards California, but none of them will pull out of London.
It varies from week to week. Some weeks London is the financial centre of the world and vice versa. London has a huge amount of history.
The city, in London is regarded as the financial capital of the world due to its unique access to the overseas crown dependency islands, that offer tax havens.
Most major international businesses and banking intuitions, set up offices in the city, just to have access to this growing network. Which results in much more money being pushed through London, to go back out through this network. It's been dubbed the second hidden British Empire.
Factor in the NHS, Breaking Bad wouldn't have lasted a single episode.
Manufacturing was destroyed by Thatcher and service industries replaced them, ask people from Coventry and mining towns.
The finances earned by nationalised service industries was lost to the UK budget when Thatcher privatised them.
The new prime minister has had to back track over tax relief for the rich and powerful.
We'd be in the top three if our service industries were still nationalised, manufacturing not closed down and taxation more fairly managed.
Manufacturing wasn't destroyed by Margaret Thatcher. Manufacturing destroyed itself. If the car and motorcycle companies had decent management, and the trades unions hadn't been so greedy, we would still own decent firms.
The Japanese concentrated on making reliable cars, and Germany have fine engineering companies.
Hey Tyler I find your reactions so cute 😊!
@@johnbunyan5834
Of course it was, closed shop unions made it impossible for the very rich and, very small minority to continue their growth, i.e. bragging rights and greed.
Why do some think privatisation solves management problems even though its taken over many nationslised services and failed time and time again?
Obvious example, the tax payers are paying far more money into the railways, getting a worse service and next to none of the money is going back into public coffers.
The prison service...?
ps. Gas, electricity and petrol, all taxation without representation!
Where's the democracy?
If Truss' cabinet had their way, and weren't forced to u-turn, even fewer monies would be going into the Nation's purse and a lot more into the very richest wallets.
They've only been delayed.
We have had a more unpopular government and it laid to the Falklands war.
@@johnbunyan5834
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When looking at the financial muscles of UK it's not so much about GDP or GDP per capita. But the enormous concentration of high value financial companies that operates through London but register their businesses in tax havens.Meaning that a lot of the money that flows around London and the rest of the UK is a result of profits made through these tax havens. Meaning the money is there, but "not really registered there".
Great Britain is no more than 900 miles long from the lowest point in England to the uppermost point in Scotland .... And not much more than 400 miles wide ....... Manufacturing in the UK suffered when we JOINED the EU .... We need to rebuild this now ..... We also have some of the best Scientists and Financial services in the world ... Paula UK x
I grew up in very unusual village back in the 70's 3/10 people who lived there was a millionair. It is now 7/10 my family were not millionairs, its a small village 16 miles west of Glasgow, it was full of shipping families but they realy dont exsost now its always had famous Scotts living there, its a lovely village. Oddly people were knowen by the name of thers houses and not there sir name. Its sais to have more millionairs per square mile than anywere in the world, a suprise being Scotland.
Another massive bonus for uk compared to USA. Is that its tax free for gambling. And our lottery is tax free unlike usa where i believe its over 50%taxed
It’s like we compare huge economies like China and India. China per head is around $11000….. India is $2200 ….Compare that to the UK $41000 or US of £50000 we get some clear comparison. In the UK we pay national insurance which goes to our National health service … we have a large welfare state which pays unemployment… and other benefits….It’s not perfect but does act as a safety net to those who fall on hard times
Our big cities tend to be metropolitan centers of large metropolitan urban sprawls eg Birmingham and Manchester the centers of populations of approx 3 million each Though London is ofcourse the metropolis of the uk with anything upto 13 million
It would be great in a fair world if gross gdp was split equally amongst the population … But a banker wouldn’t stay long on that money and depart for another financial hub elsewhere
Tourists should head north of London if they want to see the real UK
Here we go again. Everything North is better!!
@@valeriedavidson2785 Yeah, it's like Northerner Tourette syndrome. They carry on as if Kent, Sussex, Dorset, Devon, Cornwall and the Isle of Wight don't even exist.
@@ballyhoo Yep, the better line would have been OUTSIDE of London.
This is from a Sheffielder who now lives in Scotland btw lol.
I've lived both north and south of the uk and they are exactly the same. Theres nothing different about your location in the uk. Same houses, same shops, same services, same potholes lol
@@charg1nmalaz0r51 But some are affluent and some are poor. Some are beautiful and some are ugly. Give me the South every time.
Service sector refers to things like financial services, telecoms, hospitality, tourism, healthcare, IT. I work in IT myself. LOL, I answered the question before I saw that the video itself answers it anyway.
It's like I'm watching with a girlfriend!! You need to rename ya channel, "Gay guy discovers the world (and will talk and stop it all the time)!!!!
We produce very little in the UK today as most of our Industry has been sold off for a quick profit, even our Defence is at risk.
Not true. We're one of the world's top manufacturing and goods export nations.
Even though most of the UK’s manufacturing has been neglected and decimated since the end of the Second World War, the U.K. still manufactures things the world needs, specialising, in things like agricultural products, gas turbines, nuclear reactors, naval ships, and nuclear submarines, jet engines for most of the worlds airlines, pharmaceuticals, satellites for space, formula 1 racing cars, and many more growing sectors, which sets the U.K. apart from the rest of the globe. As well as London is one of the worlds top financial centres.
GDP per capita isn't all that relevant when trying to access the wealth of the population as it depends on who has the wealth. If 90% of a nations wealth is with the top 5% as it is in the US, UK and others then this way of calculating the wealth of the average citizen is meaningless. It's a lot more in other countries ofc. In countries such as Russia, it's more like 95% owned by 1%
Also, this is the white economy i.e. what you learn in school and the information is available to everyone. It's not taking into account things like gold, tax safe havens, black markets such as the opium trade etc. This is why the UK appears to punch well above it's weight in terms of it's influence. They've had a massive head start over most countries and they got their fingers in all the pies
No. Everyone in the UK is NOT rich. There are those with a seriously insane amount of money. But a substantial number are in the "middle" and at this time in a cost of living crisis millions are on the breadline of real poverty. Has nothing to do with the GDP of the country. The nation may be very rich. The majority of its citizens certainly aren't!
Yeah this is clearly an old vid since our economy is currently burning to the ground
Just like every other country right now
yet we actually grew 0.2% .... we didn't enter recession when even the US and most of Europe did... pretty resilient
@@SirZanZa resilient my foot. The economy is a mess. Inflation is sky high. Whereas go to France and energy is still cheap.
Tyler bud great choice of vid but commenting for another important purpose - the comment from Brittany John below is promoting a financial scam. Are you able to delete the comment?
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US manufacturing makes up 10.8% of US GDP. so half of the UK's
We may be rich is you add everything together - but only about 0.1% of the population own 90% of it.