I am a Spanish Hospital Operating Theatre Practitioner, trained at Guys Hospital, qualified in 1976. I have practiced in almost all fields within the operating theatre. I retired at 65 but continued practicing until I became 72. I am now living in Spain but at 75 I continue to receive calls from the UK with job offers from various agencies, nurse banks and private hospitals. I would seriously consider returning to the UK to work in that now much needed speciality, but such as the situation is, I would only return if they put my balls in a vise first.
Michael I've worked in manufacturing for 31 years and in September I'm being made redundant. My job will now be done in Poland and Italy. My skills are in manufacturing yet there is nothing being manufactured locally to me anymore and I'm looking at an uncertain future in a very alien work environment. We cannot continue to shut down manufacturing and industry and expect to thrive as a country. Call centres and parcel/food delivery won't grow any economy. As for our clueless elected representatives? I despair. This country is finished, AI and green energy? Count me out.
Sorry to learn about your situation. You are right. It's unclear what the UK the UK's key industries are and what its plan is for growing them - as opposed to creating new ones. Michael may not be right when it comes to the ability of the Starmer Cabinet. It is still early days in the life of the new Government and its going to take a long time to put right what is wrong with the economy. The change that is required to improve the UK's economy is going to take a generation - including the UK rejoining the EU.
I am sorry. I work on the continent in IT. Not so good here, either. But recovering, finally. I would encourage you to come over and work with us. The UK seems a lost cause. Here it is not perfect, but tolerable. the captain has to go down with the ship, but not the machinist...
Sorry to hear about your circumstances. Some progressive economists refer to the "real economy" where we actually make things or do physical work, yet our country is going further from it to live on hot air and bullsh1t. Financial services is code for speculation using dodgy instruments such as derivatives, reminiscent of a casino. How can we build houses without trades people? How can we be self sufficient without production and farming? Our economy is dying.
Sad really, i import from China, Indonesia and India. The u.k is done as All these politicians have no real experience. Some one like You needs to be in parliament.
We have been running our business for 30 years and next month we are meeting up to see if it's worth carrying on, I was supposed to be retiring last year and closing up means I will have to live off the state pension, this is not what I had planned for my life :(
Talk about hell in a handcart! I could not be more disappointed and disillusioned with this government. I foolishly thought they would do better than the last lot. No wonder reform are doing so well in the circumstances
I was shocked by the news of the week that not only a few patients but many many patients die in the corridors of British hospitals. Others have to wait many hours in pain for treatment. The once good NHS has reached the level of undeveloped countries in Africa. And this is not primarily a consequence of Brexit. It is the result of the right-wing policies of both Tory and Labour politicians. At the behest of the right-wing rich clique in the UK. Quo vadis, Britannia? Quo vadis?
@@Michael_from_EU_Germany look at the number of hospital beds in uk per capita. For every bed in uk, there are more than 2 in EU and more than 3 in Germany.
My analogy of uk trading now is like when go shopping in the supermarket and your filling your basket the items on the bottom shelf are generally overlooked, a bit like how the uk stands now on the world trading market after brexit, bottom shelf and overlooked, i enjoyed your video Michael thanks.
The only slight flaw in your analogy being, of course, that even the stuff on the bottom shelf of a supermarket might well be of some value to the shopper should they care to peruse the sock there. If however you imagine the bottom shelf packed only with tinned dog turd then your analogy may in fact be very apposite indeed!
It was the Dutch that taught the English how to make steel properly and introduced manufacturing processes in the 18th century. Now they produce the most incredibly expensive machine which makes computer chips and they are the only country in the world with the technology. Maybe we can ask politely if they could show us how to make useful stuff again. Specialised ships, that's another thing.
It really doesn't matter which party is elected to run the government simply because being outside the EU it will be impossible to achieve any economic growth. Even maintaining the status quo will prove to be extremely difficult. Any prospect of recovery is dependent on substantial investments which are not forthcoming, radical reform for which there is little enthusiasm and membership of the customs union and single market for which there is a lack of political will. If successive governments continue to negate the disastrous consequences of Brexit the tail spin will continue unabated. How is it possible that the leaders of Reform UK enjoy such popularity given that they were instrumental in bringing about the economic chaos the country now finds itself in. Why are people like Farage not held to account for their blatant lies as to the consequences of leaving the EU.
Starmer knows all this. He is just too weak and visionless. It's embarrassing. I do think Johnson and Farage should be held to account for their role in the EU referendum. Their spouting of lies and the hard brexit delivered by Johnson was unnecessary and have negatively impacted many. Brexit was always doomed to fail. Why? Because it was consumed by fantasy, not reality.
It depresses me when I look at the job descriptions that pop up in my inbox. I live in central London and am able-bodied. I'm looking for some part-time work as I'm semi retired (65) and have a wealth of life experience. I can read, write, spell and add up. I have an all-round geographical, astronomical, biological, scientific, political, musical and artistic general knowledge. I've worked in offices, shops, restaurants (I co-owned one), the Civil Service, nature conservation, sign writing, advertising... yadda yadda. I've travelled the world and I'm still learning. Do I understand what on Earth most of these job descriptions are? No. What do they want me to do? I hear you Michael.
To my mind there are two major things Labour need to do:- The short term thing is to windfall tax the huge company profits and tax the preposterously wealthy. The long-term one is to set a pathway towards rejoining the EU. Labour have an obligation to do well because if they fail we will have another Tory government or heaven forbid, a Reform one!
I'd be surprised if Labour still exists in a few years time. Never have I seen a party more hated, even their supporters are too embarrassed to admit their folly. Feel free to hold a referendum, but I wouldn't bet with your odds.
Growth is a meaningless word when you've cut off free trade with your nearest neighbours. Growth means an increase in the sale of goods and services. It doesn't make sense to even the most intellectually challenged. The only guaranteed growth is the growth of wealth inequality... sad but true..
I so very much agree with you, people voted labour hoping for change, sadly they were misled, labour promised the earth and delivered nothing, if fact they made the country worse, I have never voted Tory or labour, I dread what is going to happen to the country, Westminster don’t have one decent or capable politicians, to me they are chancers, I live in Scotland 🏴 and we want independence away from the shambles of Westminster, I dread to think when Trump comes how much worse it will get, I fear for the future for the younger generation, thank you sir once again for an excellent analogy of the situation
Noone has a realistic chance of growth whilst you ignore the biggest market on the doorstep. As for labour taking over ive said complaining about it is like spending 14 years with poor diet and no exercise to be told you are obese.. taking on a personal trainer and then wanting to sack them after 6 months because you havent got a beach body figure! Ive lost everything i worked for due to brexit, the place is a shambles
The name of the first Brexiteer escapes me, but Kemi Badenoch is now the second Brexiteer to publicly admit that Brexit was unplanned. How interesting that in their admissions - neither of them mentioned the appropriate warnings of Donald Tusk. I have no doubt that each of them had a mild hissy fit (at least) when they heard his words...
@lloydbelle3406 The Tories never wanted Brexit and they tried to prevent, sabotage or dilute it from the word "go". They went on to waste four and a half years of these shenanigans before we finally had a Tory government willing to "get Brexit done" and, then it was half-hearted and badly delivered. They had plenty of time to make a plan for growth, but couldn't be bothered.
@@DoggleBirdWhich was a good reason to vote against it...could you trust them to deliver it? It also hides the fact that it was an act of stupidity and self harm...why would we listen to experts when charlatans were selling snake oil?
Morning Michael. I'm 25. Worked consistently since I was 14 years old. Did decently at school, went through the sixth form to university meat grinder and work a job I am very passionate about, but the particular sector isn't as glitzy as banking etc. I was born, raised and still live in London with family. I cannot afford rent - I won't get a mortgage. I wish I could leave the UK - but where to? I feel stagnant. I feel throughout my entire life I am ignored by the government who are completely oblivious to people like me. I am not an immigrant or refugee, and I am not mega wealthy or even middle class. I occupy a space in the hierarchy of our classes, where I have food in my mouth, but f*ckall to show for anything else. I'm desperate for some almost biblical-like change in this country. I know I was wasting my time with wishful thinking.
@@martinburnAbsolute Twaddle! Housing was affordable to all Boomers -the most privileged generation in UK history. Don't believe me? Social advancement - the ability for people to come from nothing to monied existence- peaked in 1961 in the UK. Fact.
Yeah, we have different names (methods?) for printing money over here in the states, but the effects are the same, just don't tell anyone and maybe, as usual, no one will notice. (aka "out of sight, out of mind")
One of the main reasons why so many people voted for Brexit was the perceived opportunity by the "forgotten classes" to show the "establishment" that they had a voice and that their interests had been largely ignored for too long. That establishment had not sought to address desperately needed reforms and instead chose to blame the EU for the country's woes at every given opportunity. Under the circumstances it was not really surprising that Brexit support eventually gained a majority against all common sense. Unfortunately it has meanwhile left those gullible voters feeling that in fact they have unwillingly "shot themselves in the foot" ie. they have come to realize that they are worse off than before. The country is now trapped in a state of limbo and paralysis seemingly not willing or daring to admit that it has obviously made a blunder of historical dimensions. Consequently it lacks the determination, conviction, strength and ressources to address all those blatantly obvious issues, turning the rudder 180° and putting itself in a reset mode. In retrospect this downward spiral began with the end of WW II which left the country almost bankrupt, the loss of the colonies to which the economy never adequately adapted and an unconvinced and unenthusiastic membership in a EU in which the huge opportunities were never properly exploited. And even if membership were to be renewed one distant day, it would not be on those preferential terms once enjoyed. Not a bright outlook I am sad to say for a country that in reality has so much potential if only it could "get its act together".
Big chunk of UK GDP comes from the property market, mortgages, loans etc.😊Without property speculation, the City of London and money laundering, the UK would sink without trace.
1. This applies to a country like the UK with the circumstances there. The cause is essentially the reorganisation of the economy by M. Thatcher and T. Blair. It is based on the fact that the UK is a member of the EU. 2. The people were too stupid for this economic knowledge and chose economic suicide in 2016. 3. Growth is possible in other European countries outside the EU.
The growth paradigm is so engrained in Western societies they fail to recognize it needs replaced with a sustainability paradigm. Capitals lobbyism and capture of media in pursuit of power, wealth and profits has in effect become near insurmountable obstacles preventing progress. Generally improvement require this is adressed first. Most know but those wanting to do so have little chance getting anywhere in the current system.
We have at the moment a big problem when economists talk about their being no economic growth in Britain, when the truth is that we have 'growth of equality and wealth' until we start to Tax the Rich we will end up going bust. When I hear reports of our Middle Classes being squeezed out, then theres trouble at the mill.
We need to tax the rich and their wealth, double the minimum wage/universal credit/social workers/NHS nurses and doctors, ensure every child/parent affordable, council provided child-care and education by abolishing public schools, abolish the House of Lords and the monarchy, abolish leasehold tenures, and legislate for a land redistribution and 18:58 reform, so that those actually farming (by renting it from the 1% who own 94% of the land), restrict the monopoly of the supermarkets and incentivise farmers to invest in ecologically sound practices and AI/modernisation), set limits to foreign ownership of critical services (water, energy, public transport, housing, industrial production,etc). SME enterprises employ and self-employ more than bigger companies, and usually locally. There is no reason why the increase of NI contributions are applied across the board. Companies with an annual turnover of less than, say £50M could enjoy preferential treatment, or those locally owned. When there is a will, there is a way? This is just probably wishful thinking, but I have a dream.. People like Rs-Morgue who moved his businesses to Dublin in anticipation of Brexit, but presumably has a permanent residency in Somerset, should be globally tax resident in the UK? All MPs and ministers, like Boris should declare their citizenships/residencies of other countries and their expenses accounts audited and limited. All foreign affiliations declared and foreign/domestic donations/gifts exceeding something like £2K banned. That could shake their system up a bit? Everyone with an annual income of less than, say £40 a year should be tax-exempt while those earning more than £200K p.a (as salaried income, bonuses and capital gains, taxed at 40-60% rate? Those earning £1M+++, the tax rate should be progressively increasing. Some worry that these fat cats would leave? Well, good riddance! They do not seem to bring in either domestic or foreign investment anyway that benefits the average man/woman/child? The majority of the taxes should be paid to the local councils and only a fraction to the Westminster like elsewhere in the world to provide and ensure the local service provision for their permanent residents. 😊
Because of Brexit the London Stock Exchange was forced to shift part of its government bond trading to Milan's "Borsa Italiana" and then SELL it altogether to Euronext - that is the Italian stock exchange, which serves as the main stock exchange for the second-largest manufacturing economy in Europe after Germany and a G7 country - due to concerns raised by the EU Commission. Euronext is now the largest stock exchange group in Europe - which includes the UK - and it is based in Amsterdam, within the EU. Recently Euronext's chief highlighted how continental Europe has largely avoided the scale of London’s listings ‘exodus’.
Brexit didn't fail, it happened when the democratic majority of the UK voted for sovereignty, independence from a corrupt, anti democratic, unaccountable, declining, protectionist, mafioso organisation run by a bunch of childish, vindictive, self serving, gravy train riding, free loading parasites. Leaving was about self governance, empowering the UK to make its own decisions. It does not set in stone what those decisions must be, it's back in the hands of the UK public and not in the hands of or shackled to Brussels.
@@jasonkingshott2971thicko, let's remind ourselves what anti-democratic looks like. UK putting an UNELECTED member of House of Lords in as Foreign Secretary. That is how corrupt the political system in the UK is. Your post is the usual antediluvian (look it up) drivel.
"the economy is doing badly, there is a serious cost of living crisis. We are paying the highest taxes ever. Councils are going bust. Dishonest in politics is now acceptable, lying to Parliament is now normal, and standards have fallen" "Everyday we're seeing bad news about the economy. It's true of course that the whole world is suffering from the cost of living difficulties, and the uncertainty with what's going on in America with the incoming President, and despite all that, we seem to be doing so much worse than everyone else". These two paragraphs spoken by Michael are separated by 8 months. Nothing has or will change in politics other than those with the least continue to get poorer, whilst those making the rules continue to drink champagne, and eat caviar.
That is not true, The Chinese don't have inflation, in fact, they have deflation, and so do many others in the BRICS the Gulf countries didn't have inflation and they are not suffering from the cost of living, the only ones that are suffering are the ones who rely on debt, those who produce real goods and has the resources on their grounds are getting richer One goes up other has to come down as they both compete for the same things and they can't share the resources equally because one has a bigger population and a bigger country.
All Britts are working very hard to make Brexit work. Everybody is doing the extra mile to show Brussels that we can do much better without them. Right? That was the idea. And these Brexit grifters are blaming others for not knowing the people and being elites. Yeah right. I am done with them. And you know what? I want to see Brexiteers working in the fields, in the NHS, in transportation at the border crossings. I will put a chair up and enjoy the view on how Brexit is working.
Our economy hasn't grown in 16 years and when it took a good kicking from brexit shrank in real terms Per head of population The average person will not feel the effect of growing GDP They will feel the effect of hospital and A&E waiting times, unified train system with proper connection, increased council houses, lower electricity bills, improved insulation in rental hosing. Our issue is productivity and that is because of Austerity and the Tories drive to a low wage economy
Yes. I recently ordered something from a company believing the parcel would be comimg from the USA. The parcel began its journey in China and is now in Istanbul. Previously a parcel from the same company made its journey resting for a while in Dubai. I am not complaining because the parcels are here within five to seven days. I have experienced much longer waiting times if posted in America and much higer taxes imposed.
A Tory government will give your taxes to their friends in spurious business 'contracts'. Labour on the other hand will use them to create 'Equality and public compliance officers' in the public sector, as we always knew they would. Meanwhile, any town centre north of the M25 corridor is increasingly boarded up
Wow, so gloomy - cheer up! worse things at sea etc etc. But sadly everything you've said in this video I agree with. So gloomy OR a much needed dose of reality needed to get us out of denial? Michael, keep on steering us back to reality and a non-Brexit world.
Good afternoon Michael It is very depressing in the UK at the moment. I know there are problems everywhere but it seems that this country is doing much worse than EU countries. The labour party which is not labour are making wrong decisions most of the time. Everything is expensive here, most wages are too low so people can t spend. ....there will be no growth until people are paid properly and the rich pay theirr fair share and obviously we need to rejoin the EU.. Thank you Michael for this interesting clip. Have a great weekend xx😊
I thought you were going to talk about nursing jobs that have recently been advertised for nursing specifically in hospital corridors! Equally horrifying news. Thanks for your work.
"Make brexit work" is a completely empty phrase. Replace it by the following reality. Brexit is an utter disaster that should have never happened and will never work. Let's try to survive because there is absolutely no way that, the current state of the country is in, the 🇪🇺 would even remotely consider looking at a request to join the union again. Yes, the worst is yet to come, and we are clueless how to avoid that. Who will sacrifice him/her self to tell the population we totally srewed ourselves. Get ready for a serious depression.
Following both WWs, Taxes were very high and nobody complained...People just got on with it. Today a penny on the tax rate and there is grumbling from the media demanding a change of Government and sackings. The choice is clear......Higher Taxes or lower Pound. A lower pound affects everybody but especially the less well off as it causes inflation. Higher taxes affects the better off. Take your pick....
This is what happens to a country that isolates itself from its closest partners, allies, friends and neighbors. Don't expect our pity. For the UK: poverty and irrelevance.
Simply available cheaper without any Tariffs or excessive Customs delays from other EU Countries. This was always going to happen but the UK Government of the time did not seem to realise that trade would always take the easiest path.
I heard recently that hospital wards are run by committees to aid cooperation and woking practices. Why is this necessary? All that is needed are department Heads that can explain and co-operate with associated staff. No wonder work and changes are slow and costly.. Thanks Michael for you undying efforts to educate the countries leaders to correct one major error of Brexit.
I can agree with you that the creation of small business ventures is a step in the right direction but my experience of being in business in the UK and overseas is that it is very tough to be successful in the UK, this is a very hard country with high startup costs and a propensity to delay payments, much easier overseas.
The UK's stagnating because of nearly FIFTEEN YEARS of Tory incompetence and kleptocracy. The huge, and increasing, debt and the associated costs of servicing that debt, means that ANY government is going to have enormous problems trying to dig the UK's economy out of its deep hole. The UK's Debt/GDP ratio is soon going to make Italy look like a model of fiscal prudence. It is 100%+, and rising. The annual cost of just servicing that debt pile, which is going to increase, is currently the second largest expenditure in the government's budget. It's about the same as the UK's annual defence budget, at the moment.
@@garyb455That is the conundrum. Cutting govt spending by 30% is taking that amount out of the UK economy. Where are you going to cut 30%? NHS? Benefits? Subsidies? Cutting there will only make the issues bigger...
@@vullings1968 Same Problem we had when lending Greece money-they expected us to give the money they sepnt without asking for cuts-so it was our fault to force them to tighten the wasteful budget. How dare we! We were expected to give the money and go on giving it. For sure-we should never have stepped i-but we could not risk that the french banks would go under as the french didn't have the money to rescue them. So Greece was stripped of its rights as a sovereign nation. Admittedly, they behaved reckless and immature, but you simply can not remove their sovereignty. Same would have to happen to the UK-cut excesses only helping some, and start collecting taxes. That was what happened in Greece. But in the UK? No way. Anyway, as long as they don't fundamentally change things, they will be worse off. So...when will they be broke and get an external controlling?
And barmy Reeves is borrowing even more....and pouring it down the public sector drain. Conservatives left behind the fastest growth in the G7...and UK all set to outperform France, Japan and USA, then idiots like you destroyed it by voting Labour.
The normal working people of the UK do not have a chance in hell for a decent future. Everything is going to get much worse. Anyone with half a brain can see that. The game is over. Anyone who can will leave and the place country will be left with nothing.
"Develop a culture of belonging. Diversity. Inclusivity. Equality. Director of people....... blah blah blah " You could invent a drinking game. One shot every time a managementspeak buzzword comes up, WITHOUT being able to figure out what the hell they actually DO. Alcoholic paralysis guaranteed.
@@AndriyValdensius-wi8gw God yes, the ''stakeholders''. Has anyone ever actually worked out what or who they are ? They don't sound very appealing, that's all I can say
@billyliar1614 Unfortunately, I think you'll find they are the ones who RUN the NHS, Probation system, DWP, HMRC, Prisons, DSS, Post Office, Criminal Justice System, The Courts, the Police, the Ministry of Defence, Local councils, and just about everything else in the UK. ALL the above are run and "administered" by people who you wouldn't know what they actually DO. And they don't do it at salaries of £ 90 to £ 200 k or more. And people wonder why the country is bust. And there are people who naively and stupidly think that the NHS has got something to do with doctors and nurses. Or the Post Office with postmen or post mistresses. Or the MoD with soldiers and sailors. Or the police service with coppers on the beat etc etc. When they're short of cash, they sack doctors and nurses, coppers, garbage collectors, soldiers, etc. You know, the people who DO THE WORK. They NEVER sack the stakeholding inclusivity and diversity clowns who sit in plush offices being self-important at 100k £ per annum.
@billyliar1614 PS When I lived in the UK in a small Midlands market town (this was the 90s) the local district council pushed a glossy leaflet through the letterbox of EVERY HOUSE in the town. The leaflets were very glossy and on high-quality paper. I dread to think about the printing costs. The leaflet bragged about the people "administering" the refuse department. NOT the binmen, who COLLECT the rubbish. Of course not. Just the pen pushers, as they were then (now they're keyboard tappers.) I counted THIRTY of them. It might have been more. Deputy assistant and assistant to the deputy assistant etc, etc. These days, of course, they'll have an inclusivity and diversity supervisor, as well as someone who will be paid to supervise the correct use of non binary gender pronouns. I didn't know whether to laugh or weep. Needless to say, bin collection services had to be cut, presumably because these ladies (they were ALL ladies) were on substantial salaries. My ONLY regret is that I didn't put that leaflet in an envelope and send it to Ian Hislop, c/o Private Eye. They later stopped sending such leaflets. The public may have been somewhat less than enthusiastic. 😆
@ I had no idea - we're in deep and the hour is later than we think ! PS, you missed out the development since those halcyon days of the new fields of 'compliance' (offering the salaries you describe) and the employmer's Gestapo, HR, the body in most corporate workplaces which enforces the organisation's regime . You'll get the 'tap on the shoulder' from management/HR for any transgression, no matter how trivial And yes, the kinds of people who flourish in such corporate structures command salaries well above the eye line of the average mortal who, y'know, does entirely irrelevant things such as the actual donkey work. Meanwhile, the potholes aren't filled, the doctors aren't seen, the criminals aren't caught, the soldiers aren't trained and the houses aren't built, all while the country becomes increasingly slovenly, criminalised and slum-like. Priorities, priorities.
Starmer is not doing what he said he was going to do. Instead of not smashing the gangs that are providing unsuitable craft that results in deaths, what he needs to do is to provide safe routes for refugees. He needs to allow airports and ports and consulates and police stations to be able to process asylum claims, instead of expecting the Home Office to do everything, especially because of the backlog caused by Cruella Braverman. The crap pop up hotels have to be stopped. Then, because the asylum claim is dealt with quickly, the refugees can get a visa to allow them to work, to pay tax, and to pay for their own accommodation. And it would provide Level 5 Tefl teachers like me work teaching them English. Instead coming up with stupidity like smashing the gangs, the people of which are not known, he needs to show he can provide to the racists and bigots, that he is providing solutions. If he dealt wtith the immigration rubbish that pretends to be media in this country, he would not only shut them up, it would destroy Reform entirely. He needs to think outside the box and stop being so cautious about everything.
France has made a long standing offer to host a British Asylum processing centre but the UK has always refused British Embassies also do no process any applications. Immigrants have no choice but to make it across to Britain to even apply, which is deliberate British policy
If things carry on this way the Conservatives maybe even Reform will be in power,things won't get any better.The country seems lost politically speaking,no economic ideas at all to improve the situation!😮
To improve a sitauation, you need to evaluate and honestly define where you stand. The UK is not able to do that, it would hurt its collective ego too much. Until this happens no poitive change is possible.
My goodness Michael. Thanks for your usual frank and articulate output, but it is really quite depressing. I find myself turning my back away from what's happening as just about every leading person in politics fills me with such little hope. This also includes so much of the mainstream media. I'm even becoming quite bored with the likes of the Rest is Politics, The News Agents, etc, who seem to be doing alright with their symbiotic relationship with the likes of Farage...but aren't really nailing any of the issues as they're not exactly suffering themselves. Ho hum.
The train drivers have used the privatisation to their benefit. The rest of the rail workers are on minimum wage it’s only signalling and control staff who earn good money, they deserved a pay rise as they had 4 year pay freeze imposed
Hi Michael! Thanks for this post! Did you notice that the Bank of England has stopped buying back gilts (Government bonds)? I fear the Uk is not only broken but factually broke. Stay well!
Michael, it’s al doom n’ gloom but sadly every word you speak is 100% accurate, very hard to see a way out. A complete overhaul is urgently required and that most definitely doesn’t include Nigel Farage 🤠 Cowboy.
Michael, U said early in this podcast, the cost to UK since Brexit began, was £27million. Did U mean 27%? I think U said this later? U are absolutely correct, about the clueless in charge. And I have an abhorrence of the Tories! Meanwhile lovely to see ur continued output. Happy New year to U and all your family, friends and followers here.
English machinists the highest wage in Europe?? That seems unlikely to me. a Dutch machinist earns €4,070.88 per four-week period with an irregularity allowance of €900 on top of that. Why would English machinists go to work in the Netherlands if the wages in the UK were so good??
I honestly don't know Michael. Because we no longer make anything (in high volumes), the economy is still stuttering, and we're not part of any Trading Bloc - so have nowhere really where we can sell.our goods easily and seamlessly. The clue being in the latter part of my previous sentence. That really is key. Without it we are stuffed.
Just perhaps 6 months isn't quite enough time to put right all that has been neglected or undermined over the last 14 years . Is it possible that supporters of Reform plc are stirring up division not unlike that which led to our disastrous brexit . I have noted that those brexit , ukip reform supporters that I know don't want to talk about it nor the farmers or the fishermen who thought that they would be better off . Perhaps doing what will benefit us rather than me is a concept that some find difficult, but doing the painful things first seems to be the approach that the Labour government has chosen .I, for one, am willing to wait to see what the results deliver rather than repeat the tripe produced by the right wing media and their rich masters tell us because they are anything but objective imo.
Good to hear a voice of reason. I’m vexed by the premature hysteria at play. As if in 6 months 14 years of incremental damage will be reversed in 6 months. We’re stupid to expect so.
Inflation is actually 3.5%. The Uk does not include housing costs in the CPI index. The government will have to let inflation run as there is only two ways to offset increased borrowing costs..... that is inflation and growth. If growth is 0.1% and inflation is 3.5% = 3.6%. The government is borrowing at over 5%. This is not sustainable.
Thanks for that bright and uplifting monologue... love him or loathe him... there was a man who emerged during the last ten years and he did actually have an economic plan but alas he fell foul of the Knesset and their powerful lobbyists in the UK.... consequence... the UK does not have a viable Government in waiting of any political hue...all of the political parties are dominated by second and third rate self promoting self enriching back stabbing weasels....this does not bode well....I can't see any cavalry in the distance 🤦😟
Ed Davey's proposed new deal with the EU is " not just tinkering around the edges of the Conservatives’ botched Brexit deal, but agreeing a better deal for Britain. A deal to form a new UK-EU Customs Union by 2030 at the latest." Such helpful policy positions should be noted by the current Government, and acted upon. The Brexit damage is here for all to see and, as you say, it will take time to get individual businesses going again - but without starting now we stand little chance of getting any "growth".
Ed Davey's proposed will not get anywhere with the EU as UK wishful thinking. The EU has enough problems getting the UK to fully implement the current deal never mind starting something new. Want single market or Custom Union, send in a new application for EU membership to join as that is the only way to get eventually both. Any other Custom union Such as with Norway or Turkey includes Customs Checks & tariffs as Mandated by WTO rules incorporated into the 3rd Country rules Exporting into the EU , EU Single Market Product safety regs apply
HI Michael, I've been trying to get some facts together as I am sometimes engaged in political conversation by local friends / acquaintances. I put this into Google "how much money net would the UK have paid to the EU if we had nevert had Brexit" and could only get a figure for 2018. Do you think the internet is dumbed down now and unable to be uised for fact checking or information gathering? Thanks.
I don't think any tech company can be trusted to provide accurate up to date information on "sensitive" issues, especially those whose CEOs dabble in politics, and interfere with democraciesof countries they are not resident in.
Right, available meaningful information on economics of any country is not going to be factually detailed and delivered, including the new and improved, (so we are constantly reminded) from the buzzword overlords which tell us information is now known as AI enabled logic. That's right, ask and you may receive anything you want to hear. BTW, it's possible our host Michael has been reading too much AI generated media coverage, but that's just a personal opinion.
That is only half a question. It is not just net paid in, but the value of the benefits. Let me save you the effort, the net LOSS to UK GDP is about £27 billion a year. Yes, that much.
And here is some detail... The UK's net contribution to the EU budget has varied year-by-year. Here's a summary for the period you requested: * 2018: £8.9 billion * 2019: The UK's net contribution to the EU was an estimated £9.5 billion. * 2020: £12.6 billion (this figure includes the period before the UK fully left the EU) It's important to note that these figures can vary depending on the source and how they account for different types of payments and receipts between the UK and the EU. The UK's financial settlement with the EU In addition to the annual contributions, the UK also agreed to a financial settlement (sometimes called the "divorce bill") as part of its withdrawal agreement. * The latest estimates show this settlement to be approximately £30.2 billion in total. * As of early 2024, the bulk of this (£23.8 billion) had already been paid. * Around £6.4 billion remains to be paid in 2024 and onwards. Where to find more detailed information: * Office for National Statistics (ONS): They provide detailed breakdowns of the UK's contributions to the EU budget. The UK contribution to the EU budget - Office for National Statistics
SMEs are homeless-- neither tories nor Labour are interested in joining the EU again, UK exporters to the EU down 27% , no doubt SMEs are the most affected, where is the growth coming from? Ai? The bluster was johnsons but labour is not far behind.
Without (re)joining the free market, I can't see any growth happening at all. Just an idea: we could start thinking about becoming the world's leading country for storing international hazmat and nuclear waste. That should fetch a few bob. We could become the world's Steptoe and Son.
Close all tax loopholes and do a private land and property tax, then place sanctions on individuals and companies who use tax havens and drop trickle-down economics.
As you've stated, the UK economy has plummeted since Btexit, and the 10 year forecast is awful compare to other "peer nations". Labour are further killing the economy however, and putting the burden on the most vulnerable. It's been grotesque to witness, but shows me how completely captured this Labour party are. They're utting benefits to the most vulnerable in our society, which is not only inhumane and grotesque, but it's putting a sticking plaster on a broken leg. This is all because of Brexit, and the fact Labour( and Tories) can't have their billionaire and corporate donors out of pocket. What's far worse than disabled people on benefits, is Keir Starmer allowing his billionaire and Corporate donor mates to buy Governments bonds at give away prices, to make a guaranteed killing, causing an inevitable inflation, a hike in goods, mortgage rate rises and benefits cuts. Just so his rich mates can fill their boots. At our expense, of course. The UK economy now, is nothing more than a ponzi scheme, where the political donor class are 100% guaranteed to always fill their boots, and the poor, working and middle-class always pay the price. Even the right wing maniac "Steve Bannon" got it right on a recent PBS interview, calling our economy "Neo Feudalism", where corporate and billionaires risks have now been socialized, so they're not risks at all, because the working and middle-class foot the bill of any failings. Starmer doesn't need to cut benefits to the vulnerable. He needs to stop his billionaires and corporate donors( his owners) hollowing out our economy. But he can't, and he won't, coz he's been captured by them
EEC/Common Market was a massive deception, a huge con-trick. ''Free trade'' was really political union by stealth. UK never voted for a federal united states of Europe.
As a foreign observer, I think Britain *_by and large_* has similar problems as the rest of Europe, although not synchronously timed, and quite different from the situation in the United States. But the one important difference, compared to other European countries, is that they don't see each other as *_the_* threat, but rather powers such as China, the United States, Russia and (to a lesser degree) Turkey.
You are right, and yet, at a time when functional capitalism's main tool is grow out of any problem and collateral damages be damned. BTW, to those that think in their bones that when *more growth* doesn't work to solve economic problems then the answer to that is capitalism's main answer to any problem which is even *more growth* IMO, there is no quick fix to any of this, it's worse than "who will bell the cat."
Thank you, Michael, for this insightful talk, and I did laugh at your ‘AI Superpower’ thoughts, yes, of course, nobody has thought of doing that before, lol!😂 And where is all that extra energy required to power AI, going to come from? The problem of our lack of economic growth is almost entirely down to Brexit, before this act of economic suicide, we had numerous small and medium sized exporters, flourishing profitable businesses, exporting goods to the member states of the EU, without any difficulties, it was ‘frictionless trade’, providing for economic growth in the UK. Sadly, a great many of these export companies have folded, due to the prohibitive costs associated with trading outside the EU. Brexit broke Britain!
It will take years but workers co-ops would be a good place to start with government seed capital to get started on green/electronic/tech/engineering etc bids from groups of workers who are either unemployed or between jobs or longing to express their special skills in a creative environment. The government just needs to start somewhere. I hasten to add this suggestion as part of a mixed economy.
Last week on r2 they said that the gov are considering increasing the amount you can spend with chip and pin without the pin.. to promote growth... The leading issue is that you need money to spend more! What a joke! Labour have put the cart infont of the horse! No idea of this issue!
In a post Brexit world it's a up hill trudge. There is no finding the plateau . Never mind a downhill freewheeling. Makes no difference if it's Conservative , or Labour with their 'better Brexit ' or even Reform it's a drag all the way this side of the 6th mass extinction.
I'm not really sure what the point of the percentages at the beginning of the video was because nobody's going to call an election now and tbh that pretty much makes the rest pointless even If I agreed with you.
Come on, all those ten thousands unemployed software specialists in the UK and all these not used capacities in UK data centers! You know that UK AI will be world leading when this potential meets the hundreds of billions national and international tec-investors want to pour into the UK! UK as international AI hub... why has nobody thought about it already?
And the EU would provide all the electrical energy for that and the expertise? The UK workforce seems to either be greengrocers or barely legal bankers with "special" talents. Not so suitable for AI experts?
I am a Spanish Hospital Operating Theatre Practitioner, trained at Guys Hospital, qualified in 1976. I have practiced in almost all fields within the operating theatre. I retired at 65 but continued practicing until I became 72. I am now living in Spain but at 75 I continue to receive calls from the UK with job offers from various agencies, nurse banks and private hospitals. I would seriously consider returning to the UK to work in that now much needed speciality, but such as the situation is, I would only return if they put my balls in a vise first.
😂😂😂
Haha! You will need a surgeon after that then.
Don't give them ideas....they looked at yes minister and thought that was an education movie.
@@birdinthebush I'll supply the vice
Yikes 😱
Michael I've worked in manufacturing for 31 years and in September I'm being made redundant. My job will now be done in Poland and Italy. My skills are in manufacturing yet there is nothing being manufactured locally to me anymore and I'm looking at an uncertain future in a very alien work environment. We cannot continue to shut down manufacturing and industry and expect to thrive as a country. Call centres and parcel/food delivery won't grow any economy. As for our clueless elected representatives? I despair. This country is finished, AI and green energy? Count me out.
Sorry to learn about your situation. You are right. It's unclear what the UK the UK's key industries are and what its plan is for growing them - as opposed to creating new ones. Michael may not be right when it comes to the ability of the Starmer Cabinet. It is still early days in the life of the new Government and its going to take a long time to put right what is wrong with the economy. The change that is required to improve the UK's economy is going to take a generation - including the UK rejoining the EU.
#sameboat.. just had a week's notice that my job in the automotive supply chain ends next Thursday .
I am sorry. I work on the continent in IT. Not so good here, either. But recovering, finally. I would encourage you to come over and work with us. The UK seems a lost cause.
Here it is not perfect, but tolerable. the captain has to go down with the ship, but not the machinist...
Sorry to hear about your circumstances. Some progressive economists refer to the "real economy" where we actually make things or do physical work, yet our country is going further from it to live on hot air and bullsh1t. Financial services is code for speculation using dodgy instruments such as derivatives, reminiscent of a casino. How can we build houses without trades people? How can we be self sufficient without production and farming? Our economy is dying.
Sad really, i import from China, Indonesia and India. The u.k is done as All these politicians have no real experience. Some one like You needs to be in parliament.
It's worrying times, indeed, Michael, and you summed the whole situation up perfecly. Another great video. Thank you.
Thank you Ant 😊
We have been running our business for 30 years and next month we are meeting up to see if it's worth carrying on, I was supposed to be retiring last year and closing up means I will have to live off the state pension, this is not what I had planned for my life :(
The corporations are growing , humanity is shrinking
The sad thing about the NHS is that it's top heavy with so called experts, Hospitals need people at business end.
Thought the UK did not need experts according to the Brexit Creed
The only thing the Tories grew was the already riches bank balances
Talk about hell in a handcart! I could not be more disappointed and disillusioned with this government. I foolishly thought they would do better than the last lot. No wonder reform are doing so well in the circumstances
I was shocked by the news of the week that not only a few patients but many many patients die in the corridors of British hospitals. Others have to wait many hours in pain for treatment.
The once good NHS has reached the level of undeveloped countries in Africa.
And this is not primarily a consequence of Brexit. It is the result of the right-wing policies of both Tory and Labour politicians. At the behest of the right-wing rich clique in the UK.
Quo vadis, Britannia? Quo vadis?
Because Labour's in charge....clown Streeting's never run anything in his life before.
@@Michael_from_EU_Germany look at the number of hospital beds in uk per capita. For every bed in uk, there are more than 2 in EU and more than 3 in Germany.
@@malthusXIII-fo3ep ridiculous, dumb post.
@@robsucher9419 Yes ... although hospitals in Germany are being shut down because there are too many beds.
@Michael_from_EU_Germany the irony
My analogy of uk trading now is like when go shopping in the supermarket and your filling your basket the items on the bottom shelf are generally overlooked, a bit like how the uk stands now on the world trading market after brexit, bottom shelf and overlooked, i enjoyed your video Michael thanks.
Yep. Sometimes the bottom shelf is even empty. Sold out, nothing left.
The only slight flaw in your analogy being, of course, that even the stuff on the bottom shelf of a supermarket might well be of some value to the shopper should they care to peruse the sock there. If however you imagine the bottom shelf packed only with tinned dog turd then your analogy may in fact be very apposite indeed!
@@SonOfVikingPutting it simply we've moved ourselves from prime trading position to not so prominent position after brexit.
It was the Dutch that taught the English how to make steel properly and introduced manufacturing processes in the 18th century. Now they produce the most incredibly expensive machine which makes computer chips and they are the only country in the world with the technology. Maybe we can ask politely if they could show us how to make useful stuff again. Specialised ships, that's another thing.
You know where they get their lenses from, right?
We cut ourselves off from our largest client base. What did they expect?
Magical cash flows from 'The Anglosphere', perhaps?
@@gloin10 Sunlit uplands with frolicking unicorns?
It really doesn't matter which party is elected to run the government simply because being outside the EU it will be impossible to achieve any economic growth. Even maintaining the status quo will prove to be extremely difficult. Any prospect of recovery is dependent on substantial investments which are not forthcoming, radical reform for which there is little enthusiasm and membership of the customs union and single market for which there is a lack of political will. If successive governments continue to negate the disastrous consequences of Brexit the tail spin will continue unabated. How is it possible that the leaders of Reform UK enjoy such popularity given that they were instrumental in bringing about the economic chaos the country now finds itself in. Why are people like Farage not held to account for their blatant lies as to the consequences of leaving the EU.
Starmer knows all this. He is just too weak and visionless. It's embarrassing.
I do think Johnson and Farage should be held to account for their role in the EU referendum. Their spouting of lies and the hard brexit delivered by Johnson was unnecessary and have negatively impacted many.
Brexit was always doomed to fail. Why? Because it was consumed by fantasy, not reality.
"and membership of the customs union and single market for which there is a lack of political will."
Learn:
Only offered for new EU members
@davidlloyd-jones9603 👍
I don’t want a ‘popular’ PM. I want a competent, thoughtful and an effective one. With a group of competent cabinet members around him/her.
Thanks Michael, a good talk.
Thank you Michael 😊
It depresses me when I look at the job descriptions that pop up in my inbox. I live in central London and am able-bodied. I'm looking for some part-time work as I'm semi retired (65) and have a wealth of life experience. I can read, write, spell and add up. I have an all-round geographical, astronomical, biological, scientific, political, musical and artistic general knowledge. I've worked in offices, shops, restaurants (I co-owned one), the Civil Service, nature conservation, sign writing, advertising... yadda yadda. I've travelled the world and I'm still learning. Do I understand what on Earth most of these job descriptions are? No. What do they want me to do? I hear you Michael.
Enjoy your retirement.
To my mind there are two major things Labour need to do:-
The short term thing is to windfall tax the huge company profits and tax the preposterously wealthy.
The long-term one is to set a pathway towards rejoining the EU.
Labour have an obligation to do well because if they fail we will have another Tory government or heaven forbid, a Reform one!
I'd be surprised if Labour still exists in a few years time. Never have I seen a party more hated, even their supporters are too embarrassed to admit their folly.
Feel free to hold a referendum, but I wouldn't bet with your odds.
Stampede of wealthy millionaires leaving the UK as reported this morning.
@ wrong
correct
Not sure how having the highest energy prices in the world can boost growth ?
Growth is a meaningless word when you've cut off free trade with your nearest neighbours. Growth means an increase in the sale of goods and services. It doesn't make sense to even the most intellectually challenged. The only guaranteed growth is the growth of wealth inequality... sad but true..
I so very much agree with you, people voted labour hoping for change, sadly they were misled, labour promised the earth and delivered nothing, if fact they made the country worse, I have never voted Tory or labour, I dread what is going to happen to the country, Westminster don’t have one decent or capable politicians, to me they are chancers, I live in Scotland 🏴 and we want independence away from the shambles of Westminster, I dread to think when Trump comes how much worse it will get, I fear for the future for the younger generation, thank you sir once again for an excellent analogy of the situation
Noone has a realistic chance of growth whilst you ignore the biggest market on the doorstep. As for labour taking over ive said complaining about it is like spending 14 years with poor diet and no exercise to be told you are obese.. taking on a personal trainer and then wanting to sack them after 6 months because you havent got a beach body figure! Ive lost everything i worked for due to brexit, the place is a shambles
The name of the first Brexiteer escapes me, but Kemi Badenoch is now the second Brexiteer to publicly admit that Brexit was unplanned. How interesting that in their admissions - neither of them mentioned the appropriate warnings of Donald Tusk. I have no doubt that each of them had a mild hissy fit (at least) when they heard his words...
Pretty sure it was Farage in one of those bits the media tries to pretend never happened.
@lloydbelle3406 The Tories never wanted Brexit and they tried to prevent, sabotage or dilute it from the word "go". They went on to waste four and a half years of these shenanigans before we finally had a Tory government willing to "get Brexit done" and, then it was half-hearted and badly delivered. They had plenty of time to make a plan for growth, but couldn't be bothered.
@@DoggleBirdWhich was a good reason to vote against it...could you trust them to deliver it? It also hides the fact that it was an act of stupidity and self harm...why would we listen to experts when charlatans were selling snake oil?
@@DoggleBirdthe wrong Brexit argument. Ridulous of course.
SOVEREIGNTY! NOT subservience to a foreign power - the hated EUSSR.
Morning Michael. I'm 25. Worked consistently since I was 14 years old. Did decently at school, went through the sixth form to university meat grinder and work a job I am very passionate about, but the particular sector isn't as glitzy as banking etc. I was born, raised and still live in London with family. I cannot afford rent - I won't get a mortgage. I wish I could leave the UK - but where to?
I feel stagnant. I feel throughout my entire life I am ignored by the government who are completely oblivious to people like me. I am not an immigrant or refugee, and I am not mega wealthy or even middle class. I occupy a space in the hierarchy of our classes, where I have food in my mouth, but f*ckall to show for anything else. I'm desperate for some almost biblical-like change in this country.
I know I was wasting my time with wishful thinking.
Old people like me have eaten your future , sorry !
Best wishes to you...I feel your pain. Same for many in your generation
@ With a nice chianti?
Hello , you are very young C.t. please enjoy what you get ..one moment or another things 'll get better ...Smile, it's easy and free of charge
@@martinburnAbsolute Twaddle! Housing was affordable to all Boomers -the most privileged generation in UK history. Don't believe me? Social advancement - the ability for people to come from nothing to monied existence- peaked in 1961 in the UK. Fact.
Just print the money. That's what we do here in the US.
Yeah, we have different names (methods?) for printing money over here in the states, but the effects are the same, just don't tell anyone and maybe, as usual, no one will notice. (aka "out of sight, out of mind")
😁
One of the main reasons why so many people voted for Brexit was the perceived opportunity by the "forgotten classes" to show the "establishment" that they had a voice and that their interests had been largely ignored for too long. That establishment had not sought to address desperately needed reforms and instead chose to blame the EU for the country's woes at every given opportunity. Under the circumstances it was not really surprising that Brexit support eventually gained a majority against all common sense. Unfortunately it has meanwhile left those gullible voters feeling that in fact they have unwillingly "shot themselves in the foot" ie. they have come to realize that they are worse off than before. The country is now trapped in a state of limbo and paralysis seemingly not willing or daring to admit that it has obviously made a blunder of historical dimensions. Consequently it lacks the determination, conviction, strength and ressources to address all those blatantly obvious issues, turning the rudder 180° and putting itself in a reset mode. In retrospect this downward spiral began with the end of WW II which left the country almost bankrupt, the loss of the colonies to which the economy never adequately adapted and an unconvinced and unenthusiastic membership in a EU in which the huge opportunities were never properly exploited. And even if membership were to be renewed one distant day, it would not be on those preferential terms once enjoyed. Not a bright outlook I am sad to say for a country that in reality has so much potential if only it could "get its act together".
The UK HAD potential. It is now a sad, inept limping fool attempting to eke out a future, living on its own deluded, class-ridden exceptionalism.
Lack of colonies and unwillingness of ruling classes from Windsor down to accept that reality.
Big chunk of UK GDP comes from the property market, mortgages, loans etc.😊Without property speculation, the City of London and money laundering, the UK would sink without trace.
No growth possible outside EU
Blox you eu drone---->th-cam.com/video/PPTL2Tc7mbM/w-d-xo.htmlsi=EfcNEV6si4GAUv0n
1.
This applies to a country like the UK with the circumstances there.
The cause is essentially the reorganisation of the economy by M. Thatcher and T. Blair.
It is based on the fact that the UK is a member of the EU.
2.
The people were too stupid for this economic knowledge and chose economic suicide in 2016.
3.
Growth is possible in other European countries outside the EU.
The growth paradigm is so engrained in Western societies they fail to recognize it needs replaced with a sustainability paradigm.
Capitals lobbyism and capture of media in pursuit of power, wealth and profits has in effect become near insurmountable obstacles preventing progress.
Generally improvement require this is adressed first. Most know but those wanting to do so have little chance getting anywhere in the current system.
We have at the moment a big problem when economists talk about their being no economic growth in Britain, when the truth is that we have 'growth of equality and wealth' until we start to Tax the Rich we will end up going bust. When I hear reports of our Middle Classes being squeezed out, then theres trouble at the mill.
We need to tax the rich and their wealth, double the minimum wage/universal credit/social workers/NHS nurses and doctors, ensure every child/parent affordable, council provided child-care and education by abolishing public schools, abolish the House of Lords and the monarchy, abolish leasehold tenures, and legislate for a land redistribution and 18:58 reform, so that those actually farming (by renting it from the 1% who own 94% of the land), restrict the monopoly of the supermarkets and incentivise farmers to invest in ecologically sound practices and AI/modernisation), set limits to foreign ownership of critical services (water, energy, public transport, housing, industrial production,etc). SME enterprises employ and self-employ more than bigger companies, and usually locally. There is no reason why the increase of NI contributions are applied across the board. Companies with an annual turnover of less than, say £50M could enjoy preferential treatment, or those locally owned. When there is a will, there is a way? This is just probably wishful thinking, but I have a dream.. People like Rs-Morgue who moved his businesses to Dublin in anticipation of Brexit, but presumably has a permanent residency in Somerset, should be globally tax resident in the UK? All MPs and ministers, like Boris should declare their citizenships/residencies of other countries and their expenses accounts audited and limited. All foreign affiliations declared and foreign/domestic donations/gifts exceeding something like £2K banned. That could shake their system up a bit? Everyone with an annual income of less than, say £40 a year should be tax-exempt while those earning more than £200K p.a (as salaried income, bonuses and capital gains, taxed at 40-60% rate? Those earning £1M+++, the tax rate should be progressively increasing. Some worry that these fat cats would leave? Well, good riddance! They do not seem to bring in either domestic or foreign investment anyway that benefits the average man/woman/child? The majority of the taxes should be paid to the local councils and only a fraction to the Westminster like elsewhere in the world to provide and ensure the local service provision for their permanent residents. 😊
Classic! My thoughts exactly about what's probably going on in Cabinet. Lurching from one clueless idea to another.
All very depressing but True🇩🇪
Well their doesn't seem to be any "growth" in our political talent for sure!.
Because of Brexit the London Stock Exchange was forced to shift part of its government bond trading to Milan's "Borsa Italiana" and then SELL it altogether to Euronext - that is the Italian stock exchange, which serves as the main stock exchange for the second-largest manufacturing economy in Europe after Germany and a G7 country - due to concerns raised by the EU Commission. Euronext is now the largest stock exchange group in Europe - which includes the UK - and it is based in Amsterdam, within the EU. Recently Euronext's chief highlighted how continental Europe has largely avoided the scale of London’s listings ‘exodus’.
Fourteen years of austerity a failed Brexit and add a world Pandemic. What could go wrong?
Brexit didn't fail, it happened when the democratic majority of the UK voted for sovereignty, independence from a corrupt, anti democratic, unaccountable, declining, protectionist, mafioso organisation run by a bunch of childish, vindictive, self serving, gravy train riding, free loading parasites. Leaving was about self governance, empowering the UK to make its own decisions. It does not set in stone what those decisions must be, it's back in the hands of the UK public and not in the hands of or shackled to Brussels.
@@jasonkingshott2971thicko, let's remind ourselves what anti-democratic looks like. UK putting an UNELECTED member of House of Lords in as Foreign Secretary. That is how corrupt the political system in the UK is. Your post is the usual antediluvian (look it up) drivel.
Oh, no need to fret about that! It already has.
@@jasonkingshott2971 a lot of those words apply to Tory Britain.
@@robertkendall1380 who cares about the Tories?
Good day Michael but in the meantime the richest still get richer while the rest suffers
"the economy is doing badly, there is a serious cost of living crisis. We are paying the highest taxes ever. Councils are going bust. Dishonest in politics is now acceptable, lying to Parliament is now normal, and standards have fallen"
"Everyday we're seeing bad news about the economy. It's true of course that the whole world is suffering from the cost of living difficulties, and the uncertainty with what's going on in America with the incoming President, and despite all that, we seem to be doing so much worse than everyone else".
These two paragraphs spoken by Michael are separated by 8 months. Nothing has or will change in politics other than those with the least continue to get poorer, whilst those making the rules continue to drink champagne, and eat caviar.
Wow! You've changed your tune! Are you the same person that thought the selling of Brexit success was truthful politics??
@@lloydbelle3406 I think he has been hacked.
The rich in the UK don't pay taxes. I thought everyone knew this. See Offshore British filthy lucre
@@edwardbernthal160 Maybe his mental gears kicked in and now are connected to reality again?
That is not true, The Chinese don't have inflation, in fact, they have deflation, and so do many others in the BRICS the Gulf countries didn't have inflation and they are not suffering from the cost of living, the only ones that are suffering are the ones who rely on debt, those who produce real goods and has the resources on their grounds are getting richer
One goes up other has to come down as they both compete for the same things and they can't share the resources equally because one has a bigger population and a bigger country.
All Britts are working very hard to make Brexit work. Everybody is doing the extra mile to show Brussels that we can do much better without them. Right? That was the idea. And these Brexit grifters are blaming others for not knowing the people and being elites. Yeah right. I am done with them. And you know what? I want to see Brexiteers working in the fields, in the NHS, in transportation at the border crossings. I will put a chair up and enjoy the view on how Brexit is working.
Our economy hasn't grown in 16 years and when it took a good kicking from brexit shrank in real terms
Per head of population
The average person will not feel the effect of growing GDP
They will feel the effect of hospital and A&E waiting times, unified train system with proper connection, increased council houses, lower electricity bills, improved insulation in rental hosing.
Our issue is productivity and that is because of Austerity and the Tories drive to a low wage economy
Brexit never happened and mass low skilled migration makes the population poorer every day.
Yes. I recently ordered something from a company believing the parcel would be comimg from the USA. The parcel began its journey in China and is now in Istanbul. Previously a parcel from the same company made its journey resting for a while in Dubai. I am not complaining because the parcels are here within five to seven days. I have experienced much longer waiting times if posted in America and much higer taxes imposed.
"When all else fails, they take you to war." Gerald Celente. Best way to take blame away.
Quick England, vote the Tories back in or Reform Ltd so they can put the UK out of its misery once and for all.
Reform would be fun. NHS, the sole remaining pride of the English, sold to US insurance.
Doesn’t ‘putting one out of their misery’ mean death? We certainly don’t want that! The UK I mean!
Not funny Reform want a return to the Gold Standard and Britain remember Wiemar Republic
Your political system isn't working for you, is it? It's working for your politicians and rich cronies though, isn't it?
@@Nawitsno Sounds like USA
Always interesting to listen to you. I miss UK in EU. I think BREXIT was a big mistake. / 🥰 from Sweden
UK was the cancer in the EU. So, you miss cancer?
UK wasn't, some small but loud group of UK politicians were.
@vullings1968 Such as Nigel Farage when he was a member of the European Parliament.
Hello......
You forgot "my name is Michael Lambert ."..!
It's the first time this happened....😉 ..
He's just shaking things up a bit.
No, not the first time.
😁
A Tory government will give your taxes to their friends in spurious business 'contracts'. Labour on the other hand will use them to create 'Equality and public compliance officers' in the public sector, as we always knew they would. Meanwhile, any town centre north of the M25 corridor is increasingly boarded up
Wow, so gloomy - cheer up! worse things at sea etc etc. But sadly everything you've said in this video I agree with. So gloomy OR a much needed dose of reality needed to get us out of denial? Michael, keep on steering us back to reality and a non-Brexit world.
Good afternoon Michael
It is very depressing in the UK at the moment.
I know there are problems everywhere but it seems that this country is doing much worse than EU countries.
The labour party which is not labour are making wrong decisions most of the time.
Everything is expensive here, most wages are too low so people can t spend. ....there will be no growth until people are paid properly and the rich pay theirr fair share and obviously we need to rejoin the EU..
Thank you Michael for this interesting clip.
Have a great weekend xx😊
Thank you Isabelle 😊
Before the growth you need to plant the seeds. Unfortunately labour have been sold magic AI beans by the big tech corporate marketing teams.
The Brexit idea was the UK's Maga, and just as fatuous.
Npt quite the same
MAGA is make America Great
UK, more sell it all off to the Russians
London is well known as Londongrad for good reasons
I thought you were going to talk about nursing jobs that have recently been advertised for nursing specifically in hospital corridors! Equally horrifying news. Thanks for your work.
That job description had me in tears!
"Make brexit work" is a completely empty phrase.
Replace it by the following reality.
Brexit is an utter disaster that should have never happened and will never work.
Let's try to survive because there is absolutely no way that, the current state of the country is in, the 🇪🇺 would even remotely consider looking at a request to join the union again.
Yes, the worst is yet to come, and we are clueless how to avoid that.
Who will sacrifice him/her self to tell the population we totally srewed ourselves.
Get ready for a serious depression.
Germany has just clocked up FULLY TWO YEARS in recession. Keep well away from the rotting EU.
@@malthusXIII-fo3ep at the same time as overtaking the uk in gdp per capita
@@malthusXIII-fo3epdimmo, Germany will sort itself out. It has far lower public debt, so can afford to invest big time. You on the other hand ..
@@ozzie2612and Germany has higher GDP and PPP than UK
Germany remains 3rd in the G7, UK 5th or 6th
Following both WWs, Taxes were very high and nobody complained...People just got on with it.
Today a penny on the tax rate and there is grumbling from the media demanding a change of Government and sackings.
The choice is clear......Higher Taxes or lower Pound.
A lower pound affects everybody but especially the less well off as it causes inflation.
Higher taxes affects the better off.
Take your pick....
This is what happens to a country that isolates itself from its closest partners, allies, friends and neighbors.
Don't expect our pity.
For the UK: poverty and irrelevance.
Germany mired in recession - TWO YEARS! Sick Man Of Europe.
@@malthusXIII-fo3epsays a pitiful exemplar from Sh1t Island
I used to export goods to EU, but after brexit, due to the imposed tariff and VAT, they stopped buying from us.
Simply available cheaper without any Tariffs or excessive Customs delays from other EU Countries.
This was always going to happen but the UK Government of the time did not seem to realise that trade
would always take the easiest path.
Brexit benefits ?
I blame the Sun readers for not coming up with the ideas.
🤗
Rees Mogg did ask, the Sun readership did let him down,
There are Brexit benefits but for the EU
The only growth is the debt bubble.
I heard recently that hospital wards are run by committees to aid cooperation and woking practices. Why is this necessary? All that is needed are department Heads that can explain and co-operate with associated staff. No wonder work and changes are slow and costly.. Thanks Michael for you undying efforts to educate the countries leaders to correct one major error of Brexit.
You heard from who? Fact or fantasy?
After 14 years of the Tories I'll never vote them in ever again.
I can agree with you that the creation of small business ventures is a step in the right direction but my experience of being in business in the UK and overseas is that it is very tough to be successful in the UK, this is a very hard country with high startup costs and a propensity to delay payments, much easier overseas.
The UK's stagnating because of nearly FIFTEEN YEARS of Tory incompetence and kleptocracy.
The huge, and increasing, debt and the associated costs of servicing that debt, means that ANY government is going to have enormous problems trying to dig the UK's economy out of its deep hole.
The UK's Debt/GDP ratio is soon going to make Italy look like a model of fiscal prudence. It is 100%+, and rising.
The annual cost of just servicing that debt pile, which is going to increase, is currently the second largest expenditure in the government's budget. It's about the same as the UK's annual defence budget, at the moment.
It started in 1997 and both parties are as bad as each other. Government spending needs cutting 30%
@@garyb455That is the conundrum. Cutting govt spending by 30% is taking that amount out of the UK economy. Where are you going to cut 30%? NHS? Benefits? Subsidies? Cutting there will only make the issues bigger...
@@vullings1968 Same Problem we had when lending Greece money-they expected us to give the money they sepnt without asking for cuts-so it was our fault to force them to tighten the wasteful budget. How dare we!
We were expected to give the money and go on giving it.
For sure-we should never have stepped i-but we could not risk that the french banks would go under as the french didn't have the money to rescue them.
So Greece was stripped of its rights as a sovereign nation.
Admittedly, they behaved reckless and immature, but you simply can not remove their sovereignty.
Same would have to happen to the UK-cut excesses only helping some, and start collecting taxes.
That was what happened in Greece.
But in the UK?
No way. Anyway, as long as they don't fundamentally change things, they will be worse off.
So...when will they be broke and get an external controlling?
And barmy Reeves is borrowing even more....and pouring it down the public sector drain.
Conservatives left behind the fastest growth in the G7...and UK all set to outperform France, Japan and USA,
then idiots like you destroyed it by voting Labour.
Stagnating because of Reeves insane tax bombshell attacking business.
The normal working people of the UK do not have a chance in hell for a decent future. Everything is going to get much worse. Anyone with half a brain can see that. The game is over. Anyone who can will leave and the place country will be left with nothing.
"Develop a culture of belonging. Diversity. Inclusivity. Equality. Director of people....... blah blah blah "
You could invent a drinking game. One shot every time a managementspeak buzzword comes up, WITHOUT being able to figure out what the hell they actually DO. Alcoholic paralysis guaranteed.
I forgot about the "stakeholders." Sorry......
@@AndriyValdensius-wi8gw God yes, the ''stakeholders''. Has anyone ever actually worked out what or who they are ? They don't sound very appealing, that's all I can say
@billyliar1614
Unfortunately, I think you'll find they are the ones who RUN the NHS, Probation system, DWP, HMRC, Prisons, DSS, Post Office, Criminal Justice System, The Courts, the Police, the Ministry of Defence, Local councils, and just about everything else in the UK. ALL the above are run and "administered" by people who you wouldn't know what they actually DO. And they don't do it at salaries of £ 90 to £ 200 k or more. And people wonder why the country is bust. And there are people who naively and stupidly think that the NHS has got something to do with doctors and nurses. Or the Post Office with postmen or post mistresses. Or the MoD with soldiers and sailors. Or the police service with coppers on the beat etc etc. When they're short of cash, they sack doctors and nurses, coppers, garbage collectors, soldiers, etc. You know, the people who DO THE WORK. They NEVER sack the stakeholding inclusivity and diversity clowns who sit in plush offices being self-important at 100k £ per annum.
@billyliar1614
PS When I lived in the UK in a small Midlands market town (this was the 90s) the local district council pushed a glossy leaflet through the letterbox of EVERY HOUSE in the town. The leaflets were very glossy and on high-quality paper. I dread to think about the printing costs. The leaflet bragged about the people "administering" the refuse department. NOT the binmen, who COLLECT the rubbish. Of course not. Just the pen pushers, as they were then (now they're keyboard tappers.) I counted THIRTY of them. It might have been more. Deputy assistant and assistant to the deputy assistant etc, etc. These days, of course, they'll have an inclusivity and diversity supervisor, as well as someone who will be paid to supervise the correct use of non binary gender pronouns. I didn't know whether to laugh or weep. Needless to say, bin collection services had to be cut, presumably because these ladies (they were ALL ladies) were on substantial salaries. My ONLY regret is that I didn't put that leaflet in an envelope and send it to Ian Hislop, c/o Private Eye. They later stopped sending such leaflets. The public may have been somewhat less than enthusiastic. 😆
@ I had no idea - we're in deep and the hour is later than we think ! PS, you missed out the development since those halcyon days of the new fields of 'compliance' (offering the salaries you describe) and the employmer's Gestapo, HR, the body in most corporate workplaces which enforces the organisation's regime . You'll get the 'tap on the shoulder' from management/HR for any transgression, no matter how trivial And yes, the kinds of people who flourish in such corporate structures command salaries well above the eye line of the average mortal who, y'know, does entirely irrelevant things such as the actual donkey work. Meanwhile, the potholes aren't filled, the doctors aren't seen, the criminals aren't caught, the soldiers aren't trained and the houses aren't built, all while the country becomes increasingly slovenly, criminalised and slum-like. Priorities, priorities.
Starmer is not doing what he said he was going to do. Instead of not smashing the gangs that are providing unsuitable craft that results in deaths, what he needs to do is to provide safe routes for refugees. He needs to allow airports and ports and consulates and police stations to be able to process asylum claims, instead of expecting the Home Office to do everything, especially because of the backlog caused by Cruella Braverman. The crap pop up hotels have to be stopped. Then, because the asylum claim is dealt with quickly, the refugees can get a visa to allow them to work, to pay tax, and to pay for their own accommodation. And it would provide Level 5 Tefl teachers like me work teaching them English. Instead coming up with stupidity like smashing the gangs, the people of which are not known, he needs to show he can provide to the racists and bigots, that he is providing solutions. If he dealt wtith the immigration rubbish that pretends to be media in this country, he would not only shut them up, it would destroy Reform entirely. He needs to think outside the box and stop being so cautious about everything.
France has made a long standing offer to host a British Asylum processing centre but the UK has always refused
British Embassies also do no process any applications.
Immigrants have no choice but to make it across to Britain to even apply, which is deliberate British policy
Before the election Michael was desperately wanting a Labour government. Now he's saying how rubbish they are
It seems it is, sadly, rubbish, and not what was needed or hoped for.
If things carry on this way the Conservatives maybe even Reform will be in power,things won't get any better.The country seems lost politically speaking,no economic ideas at all to improve the situation!😮
To improve a sitauation, you need to evaluate and honestly define where you stand. The UK is not able to do that, it would hurt its collective ego too much.
Until this happens no poitive change is possible.
My goodness Michael. Thanks for your usual frank and articulate output, but it is really quite depressing. I find myself turning my back away from what's happening as just about every leading person in politics fills me with such little hope. This also includes so much of the mainstream media. I'm even becoming quite bored with the likes of the Rest is Politics, The News Agents, etc, who seem to be doing alright with their symbiotic relationship with the likes of Farage...but aren't really nailing any of the issues as they're not exactly suffering themselves. Ho hum.
The train drivers have used the privatisation to their benefit. The rest of the rail workers are on minimum wage it’s only signalling and control staff who earn good money, they deserved a pay rise as they had 4 year pay freeze imposed
Hi Michael!
Thanks for this post!
Did you notice that the Bank of England has stopped buying back gilts (Government bonds)?
I fear the Uk is not only broken but factually broke.
Stay well!
Michael, it’s al doom n’ gloom but sadly every word you speak is 100% accurate, very hard to see a way out. A complete overhaul is urgently required and that most definitely doesn’t include Nigel Farage 🤠 Cowboy.
Don’t forget “We’re going to GROW the economy & SMASH the gangs 🤣😂😅
thank you we need to know the truth love your videos 👍
Thank you Robert 😊
One of the best things Sun readers came up with about brexit..more powerful vacuum cleaners!
Don’t forget dark blue passports and straight bananas (or something…)
Could you maybe shorten that to a slogan? Short simple words?
"Brexit sucks like hell!"
Too complicated already?
A few years ago I would have said we need someone like Elon Musk.
It just sounds so absurd now.
As an American, you can have Elon Musk.
Michael, U said early in this podcast, the cost to UK since Brexit began, was £27million. Did U mean 27%? I think U said this later? U are absolutely correct, about the clueless in charge. And I have an abhorrence of the Tories!
Meanwhile lovely to see ur continued output. Happy New year to U and all your family, friends and followers here.
Do not ever believe toxic Remain propaganda. EU was a massive rip-off.
@jmcm8546 Thank you very much and best wishes to you too 😊
English machinists the highest wage in Europe?? That seems unlikely to me.
a Dutch machinist earns €4,070.88 per four-week period with an irregularity allowance of €900 on top of that. Why would English machinists go to work in the Netherlands if the wages in the UK were so good??
We are in the final stages, the doom loop. All great empires end, I didn’t think I’d see the fall of the uk in my lifetime…..
I honestly don't know Michael. Because we no longer make anything (in high volumes), the economy is still stuttering, and we're not part of any Trading Bloc - so have nowhere really where we can sell.our goods easily and seamlessly. The clue being in the latter part of my previous sentence. That really is key. Without it we are stuffed.
I guess Labour could ask AI how to remove the ball and chain of Brexit
Better still, to get rid of abysmal Labour.
Just perhaps 6 months isn't quite enough time to put right all that has been neglected or undermined over the last 14 years . Is it possible that supporters of Reform plc are stirring up division not unlike that which led to our disastrous brexit . I have noted that those brexit , ukip reform supporters that I know don't want to talk about it nor the farmers or the fishermen who thought that they would be better off . Perhaps doing what will benefit us rather than me is a concept that some find difficult, but doing the painful things first seems to be the approach that the Labour government has chosen .I, for one, am willing to wait to see what the results deliver rather than repeat the tripe produced by the right wing media and their rich masters tell us because they are anything but objective imo.
Good to hear a voice of reason. I’m vexed by the premature hysteria at play. As if in 6 months 14 years of incremental damage will be reversed in 6 months. We’re stupid to expect so.
Inflation is actually 3.5%. The Uk does not include housing costs in the CPI index. The government will have to let inflation run as there is only two ways to offset increased borrowing costs..... that is inflation and growth. If growth is 0.1% and inflation is 3.5% = 3.6%. The government is borrowing at over 5%. This is not sustainable.
Sad indeed ...
Thanks for that bright and uplifting monologue... love him or loathe him... there was a man who emerged during the last ten years and he did actually have an economic plan but alas he fell foul of the Knesset and their powerful lobbyists in the UK.... consequence... the UK does not have a viable Government in waiting of any political hue...all of the political parties are dominated by second and third rate self promoting self enriching back stabbing weasels....this does not bode well....I can't see any cavalry in the distance 🤦😟
It's time to leave this once great country..
It was only ever great for the privileged, absolutely nobody else?!
Ed Davey's proposed new deal with the EU is " not just tinkering around the edges of the Conservatives’ botched Brexit deal, but agreeing a better deal for Britain. A deal to form a new UK-EU Customs Union by 2030 at the latest." Such helpful policy positions should be noted by the current Government, and acted upon. The Brexit damage is here for all to see and, as you say, it will take time to get individual businesses going again - but without starting now we stand little chance of getting any "growth".
WE DO NOT WANT U BACK
Ed Davey's proposed will not get anywhere with the EU
as UK wishful thinking.
The EU has enough problems getting the UK to fully implement the current deal
never mind starting something new.
Want single market or Custom Union, send in a new application for EU membership to join
as that is the only way to get eventually both.
Any other Custom union Such as with Norway or Turkey includes Customs Checks & tariffs
as Mandated by WTO rules incorporated into the 3rd Country rules
Exporting into the EU , EU Single Market Product safety regs apply
HI Michael, I've been trying to get some facts together as I am sometimes engaged in political conversation by local friends / acquaintances. I put this into Google "how much money net would the UK have paid to the EU if we had nevert had Brexit" and could only get a figure for 2018. Do you think the internet is dumbed down now and unable to be uised for fact checking or information gathering? Thanks.
I don't think any tech company can be trusted to provide accurate up to date information on "sensitive" issues, especially those whose CEOs dabble in politics, and interfere with democraciesof countries they are not resident in.
Right, available meaningful information on economics of any country is not going to be factually detailed and delivered, including the new and improved, (so we are constantly reminded) from the buzzword overlords which tell us information is now known as AI enabled logic. That's right, ask and you may receive anything you want to hear. BTW, it's possible our host Michael has been reading too much AI generated media coverage, but that's just a personal opinion.
@@philipcrossley1279conspiracy bollocks
That is only half a question. It is not just net paid in, but the value of the benefits. Let me save you the effort, the net LOSS to UK GDP is about £27 billion a year. Yes, that much.
And here is some detail...
The UK's net contribution to the EU budget has varied year-by-year. Here's a summary for the period you requested:
* 2018: £8.9 billion
* 2019: The UK's net contribution to the EU was an estimated £9.5 billion.
* 2020: £12.6 billion (this figure includes the period before the UK fully left the EU)
It's important to note that these figures can vary depending on the source and how they account for different types of payments and receipts between the UK and the EU.
The UK's financial settlement with the EU
In addition to the annual contributions, the UK also agreed to a financial settlement (sometimes called the "divorce bill") as part of its withdrawal agreement.
* The latest estimates show this settlement to be approximately £30.2 billion in total.
* As of early 2024, the bulk of this (£23.8 billion) had already been paid.
* Around £6.4 billion remains to be paid in 2024 and onwards.
Where to find more detailed information:
* Office for National Statistics (ONS): They provide detailed breakdowns of the UK's contributions to the EU budget. The UK contribution to the EU budget - Office for National Statistics
SMEs are homeless-- neither tories nor Labour are interested in joining the EU again, UK exporters to the EU down 27% , no doubt SMEs are the most affected, where is the growth coming from? Ai? The bluster was johnsons but labour is not far behind.
Without (re)joining the free market, I can't see any growth happening at all.
Just an idea: we could start thinking about becoming the world's leading country for storing international hazmat and nuclear waste. That should fetch a few bob.
We could become the world's Steptoe and Son.
Sorry but that was dam funny😅😅
Don't you have a shit-piss-wastewater problem?
France retreats the worlds nuclear waste.at la hague in france.
Google
Cogema
Ariva
Close all tax loopholes and do a private land and property tax, then place sanctions on individuals and companies who use tax havens and drop trickle-down economics.
As you've stated, the UK economy has plummeted since Btexit, and the 10 year forecast is awful compare to other "peer nations".
Labour are further killing the economy however, and putting the burden on the most vulnerable.
It's been grotesque to witness, but shows me how completely captured this Labour party are.
They're utting benefits to the most vulnerable in our society, which is not only inhumane and grotesque, but it's putting a sticking plaster on a broken leg.
This is all because of Brexit, and the fact Labour( and Tories) can't have their billionaire and corporate donors out of pocket.
What's far worse than disabled people on benefits, is Keir Starmer allowing his billionaire and Corporate donor mates to buy Governments bonds at give away prices, to make a guaranteed killing, causing an inevitable inflation, a hike in goods, mortgage rate rises and benefits cuts.
Just so his rich mates can fill their boots. At our expense, of course.
The UK economy now, is nothing more than a ponzi scheme, where the political donor class are 100% guaranteed to always fill their boots, and the poor, working and middle-class always pay the price.
Even the right wing maniac "Steve Bannon" got it right on a recent PBS interview, calling our economy "Neo Feudalism", where corporate and billionaires risks have now been socialized, so they're not risks at all, because the working and middle-class foot the bill of any failings.
Starmer doesn't need to cut benefits to the vulnerable. He needs to stop his billionaires and corporate donors( his owners) hollowing out our economy.
But he can't, and he won't, coz he's been captured by them
But he's only doing what his friends at Davos are telling him.
EEC/Common Market was a massive deception, a huge con-trick.
''Free trade'' was really political union by stealth.
UK never voted for a federal united states of Europe.
As a foreign observer, I think Britain *_by and large_* has similar problems as the rest of Europe, although not synchronously timed, and quite different from the situation in the United States.
But the one important difference, compared to other European countries, is that they don't see each other as *_the_* threat, but rather powers such as China, the United States, Russia and (to a lesser degree) Turkey.
That is wrong. The UK has Brexit problems in addition to the normal periodic "problems" in capitalism. They are leading the UK into destitution.
We need to move away from growth
You are right, and yet, at a time when functional capitalism's main tool is grow out of any problem and collateral damages be damned. BTW, to those that think in their bones that when *more growth* doesn't work to solve economic problems then the answer to that is capitalism's main answer to any problem which is even *more growth*
IMO, there is no quick fix to any of this, it's worse than "who will bell the cat."
Thank you, Michael, for this insightful talk, and I did laugh at your ‘AI Superpower’ thoughts, yes, of course, nobody has thought of doing that before, lol!😂 And where is all that extra energy required to power AI, going to come from? The problem of our lack of economic growth is almost entirely down to Brexit, before this act of economic suicide, we had numerous small and medium sized exporters, flourishing profitable businesses, exporting goods to the member states of the EU, without any difficulties, it was ‘frictionless trade’, providing for economic growth in the UK. Sadly, a great many of these export companies have folded, due to the prohibitive costs associated with trading outside the EU. Brexit broke Britain!
They used to export what? Name something they don't produce in the EU countries?
It will take years but workers co-ops would be a good place to start with government seed capital to get started on green/electronic/tech/engineering etc bids from groups of workers who are either unemployed or between jobs or longing to express their special skills in a creative environment. The government just needs to start somewhere. I hasten to add this suggestion as part of a mixed economy.
And where does the Governemnt "just" get the money? The Uk is broke, man!
Last week on r2 they said that the gov are considering increasing the amount you can spend with chip and pin without the pin.. to promote growth... The leading issue is that you need money to spend more! What a joke! Labour have put the cart infont of the horse! No idea of this issue!
In a post Brexit world it's a up hill trudge. There is no finding the plateau . Never mind a downhill freewheeling. Makes no difference if it's Conservative , or Labour with their 'better Brexit ' or even Reform it's a drag all the way this side of the 6th mass extinction.
I agree but who is thee to replace them?, Sweeting ? lets hope not
No-one they are all absolute shit.
Sheer delusion. 😢
I'm not really sure what the point of the percentages at the beginning of the video was because nobody's going to call an election now and tbh that pretty much makes the rest pointless even If I agreed with you.
We don’t actually need much growth because technology has provided the growth all we need now is stopping the greed.
There´s a fair point here, in that the UK has a pretty high GDP per capita, but it is really badly distributed.
Come on, all those ten thousands unemployed software specialists in the UK and all these not used capacities in UK data centers! You know that UK AI will be world leading when this potential meets the hundreds of billions national and international tec-investors want to pour into the UK!
UK as international AI hub... why has nobody thought about it already?
And the EU would provide all the electrical energy for that and the expertise? The UK workforce seems to either be greengrocers or barely legal bankers with "special" talents.
Not so suitable for AI experts?