How Has Brexit Been Going? | Economics Explained
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- เผยแพร่เมื่อ 11 พ.ย. 2021
- It's been more than five years since the UK voted to leave the EU, are they regretting their decision?
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I want to ask one thing.
Why developed European and North American countries have huge foreign debt but still they have credit ratings of AA, or AAA while developing countries with much low foreign debt have bad credit ratings like BB, or C even when it doesn't seems like they can ever pay their debt like US with 30 trillion dollars debt or tiny Ireland with more than 2 trillion dollars debt?
When it comes the UK we've got the right ingredients we only need the right chef, we got the right tools we only need the right craftsman. CANZUK can be a big help and I'm a big supporter.🇬🇧🎯🤯🔏🧠💷😎🍉
In 2019 we were the 5th biggest exporter and importer and economy so I think exporting and manufacturing more is going to have a longer term impact on jobs and income and growth.
The magway system can replace trucks underground cable feed automated package delivery and tax exporting can always fix the tax gap.
There is one pivotal aspect that has not been mentioned in the video. If UK exits EU without having much negative impacts on the economy, will other european countries do the same ?
I can't believe it's already been 5 years since the vote. Feels like it was only like a year or two ago.
It's crazy, I was a kid when the vote passed, and now I'm an adult having to deal with the consequences.
UK has soon lost six (6) years decdiing what to do with Brexit. Incredible.
I couldn't vote on it it at the time, but now I'm 22 and dealing with the chaos
Sebastian Armour what consequences are you having to deal with?
@Lewis Massie What chaos are you dealing with?
"we're just gonna cut that cable and float of into the atlantic" - Soviet Womble
Hahaha
Nice flash soviet
@@enderw.1724
Absolute world class.
💆💆💆
YOU LET THEM THROUGH!?
I find it interesting that, in general, the average person didn't actually have an opinion at all on the EU pre 2016. It all came out of nowhere, suddenly everyone was either for or against despite not actually knowing much about the subject. It was definitely just an opportunity for certain politicians to further their careers. And whatever people believe about brexit (for or against) you can't deny that the amount of time we have wasted on the subject hasnt benefitted anyone.
It mostly proved to the politicians that we are the dumb reactionary herd of sheep they contemptuously saw us as already.
No wonder things have only gotten worse.
Greece economic crisis and the refugee crisis led some failing politicians to find an opportunity and they used ppl's reactivity to get what they want. Thats my theory.
Untrue; comedians and content creators have benefited greatly.
It came out of nowhere, and the name was Dominic Cummings.
It didn't better David Cameron's career. Didn't he offer up brexit as an option and then when we voted to leave he resigned?
Whatever side of brexit you were on, it was quite idiotic in my mind to vote first then deal later, the leave deal should have been negotiated first, then presented and voted on instead of just figuring it out later.
It wouldn’t work would it given the government was not in favour of leaving in the first place and therefore would not have tried their best to negotiate for the best deal
This was the Labour Party policy in 2019, negotiate a deal, then a second referendum on the deal. This policy is said to be one of the key reasons they lost so badly.
The PM, Cameron negotiated with the EU before the referendum to address points of concern.
It is funny how Cameron's reform deal didn't figure in the public debate.
Cameron set up the referendum knowing people didn't know exactly what the deal would be making it more risky to vote Leave.
Cameron calculated that setting up the referendum in this way would mean that the Remain would win and take the issue off the table for 30 years.
Cameron also chose the wrong time to negotiate with the EU. the EU was extremely busy in trying to contain a high number of migrants from Syria, which was causing a lot of political instability within the EU countries and EU government, which meant that Cameron came back empty handed from the negotiations. The Syrian migrant crisis in the EU and the result of those negotiations just boosted the vote leave camp. Saying that Cameron misjudged the timing of the referendum is an understatement to say the least, besides allowing a quorum of only 50%+1 for such an important matter.
The deal negotiations were also impossible before the vote, because the EU refused to do so until article 50 had been triggered.
No in fact it’s not idiotic at all. Spending billions of pounds, and years on negotiations just to have a referendum and it come back as stay in the EU wouldn’t have been good would it?
How to convince any Brit that Brexit was a mistake: put them behind France on the leaderboard, even if the scores are equal.
Ireland GDP per capita is almost twice the UKs. No wonder Ireland is higher
Or how to convince them the media is biased. :p
@@andrewjgrimm Wow, yet another TH-cam channel to add to "the media". You know when there's 10,000 nays and only 10 yays you have to realise that calling the nays wrong just makes people look deranged.
@@krashd I don't know who you mean by the yays and the nays, but my comment was just a joke.
@Leroy Jenkins Alpha what do they need military for?
I don't know if it's strictly true but I do feel like the timing of the pandemic was a blessing of sorts for the UK. Now instead of us just sitting in the Atlantic on fire, everyone is on fire so we don't look as bad comparatively.
*A blessing for UK politicians
@@Notmyname1593 It will be better for the UK population as a whole if companies start hiring UK citizens instead of bringing in cheap labor from Poland, Romania etc pushing down the salaries for everyone within that industry.
@@zjeee And when exactly will that happen? Because last I checked Brits weren't excited to pick crops in the field for hours, so the crops remained unpicked and the people unemployed.
You are also forgetting UK citizens, who used to be employed in EU countries, I doubt the change is great for them.
Convenience for the government not the people.
@@SimplySketchyGT Convenient for me because that's one less thing for people to make fun of me for being British for
If only the majority of Pro Brexit supporters actually looked at Brexit from an economic perspective rather than clinging on to the notion of “too many foreigners are ruining our nation”. I worked in a lower middle class area during the time of the referendum and the only argument the majority of pro Brexit supporters that I spoke to threw around was “Great Britain isn’t great anymore”. It was clear that most people didn’t know what they were actually voting for. I’d laugh at the UK’s position right now if I wasn’t also having to live with the consequences.
Of course there is another opinion and that of being against a Federal European superstate.
“Great” is a geographical term like Great Yarmouth, Great Grimsby, Greater London and Greater Manchester.
If only the majority of remoaners actually DIDN'T look at their own personal wealth, based on EU slave labour, and, stopped stopping Brexit (we still haven't dumped the ECHR), then Brexit may be actually measured. As it is - we haven't HAD Brexit, even now. We will though. ;-)
I was a pro brexit supporter for exactly what you're saying. I agree. Immigration is an issue that we should've addressed as a continent. It was a mistake. We've lost the little influence we had left.
Brexit wasn't a vote of economics. It was a vote of cultural & identity politics. Dreadful or Successful
Fine. But people need to be more precise than that. Pierre Trudeau (Justin´s father), in reference to the Quebec referendum, said. "reason before passion."
So has it been successful m8? I voted leave but if I had a choice, to remain 💯 I work a Construction company and it’s costs us so much stress and anxiety it’s unbelievable!!!
@@rrickarr I apologise m8!!!
@@stephenphinn8350 Then why did you take decision to leave at first?
@@koushikdas1992 Because uncle Boris filled my head with shite m8! The big red bus we will save the nhs millions, and the U.K. will better off, well he’s right for the rich! We will be worse off and that was my fault for voting leave… I should of done my own research m8! 🧐
"It's going fine and it's going to get even worse!" - basically every news article on Brexit
It's impressive how brazenly they can lie about the state of things...
@@Yeoldyperson it's impressive how thick you are to keep reading the daily express,the mail and so on
@@janofb no it wont, as we screwed our exports to our biggest exporter. we now have hit our economy 178x more than we have benefitted.
@@kanedNunable if you hate the GB that much sell up and move to Europe. We will be so much better without all you naysayers. Let me guess you won't though will you because its all rhetoric...
@@pauln0371 we can't, we voted to end free movement.
Well the fishes are happier now
The French aren't though
@@Robert-cu9bm because the UK was not keeping its side of the deal.
Though the world now knows better than arguing with brexiteers 🤣🤣🤣
@@Robert-cu9bm bla bla bla
@@Robert-cu9bm good
@ger du you want to talk about livestock when Dutch and norweigen slaughterhouses feed dead piglets to their mothers in appalling battery pens?
Oh but please, do go on little shltstain. Keep buying those sausages in your own internal markets! 😁
Two months ago 15 polish workers left our company. Last week we heard that they have founded a company and started a factory near Krakow. And this week our biggest customer Lidl informed us that we will not get a new contract for 22/23. I was told that I should consider to move back to Estonia as they cannot guarantee that business continues. Lived here for 4 years.
What do you expect? You came here as cheap labour, selling out our own countrymen? Did you know lorry drivers in the UK used to earn a wage they could afford a family and mortgage on?
@@stevenwest1494 Not when my dad was a lorry driver in the 1980s they didn't.
@@stevenwest1494 lorry drivers affording mortgage? Really?
@@stevenwest1494 I have been told that I am one of the most expensive employees in our company. I get 3700£ a month. The difference between me and your countrymen is that I speak fluently russia, german and spanish and know something about logistics.
@@stevenwest1494 i guess you are blind to what is happening in the world ...
The video actually starts at 8:00
🙌
Thanks
Huh, cool to see you here. LOVE your art.
awesome! thanks 🙏
Thank you so much
I was an engineer in a past job in which we mostly worked with a German company, when one of the leave deadlines arrived they just dropped us, our whole company closed and I was out of a job for months
Unfortunately Lee that won't compute with a lot of people on here as they think everything's rosy and all sovereign. Lots of companies pulled out because they knew the impending supply chain problems and costs involved. I heard one guy on the radio saying that he's prepared to lose his home if it ment we weren't controlled by Brussels anymore. This is the type of idiot you're dealing with.
I hope you got everything back on track. I took early retirement due to health problems so was lucky in one way but don't think I could manage keeping a job in my state now anyway!
Well, is that a surprise for you? Germany is one of the most proudest members of the EU. Ofc the want to support their follow EU-Members.
@@lisanne9640 bad take
@@hu-ry is it? I can confirm as a German. Do you even know how hard uk is bashed here for leaving the holy 4th Reich ähm I mean the eu? The goal is to smear the uk so other countries are discouraged to leave aswell.
Fraternizing with the Germans didn't work out for you? What a shame.
I love how the Capitalist solution to not having access to cheap truck drivers is not "Pay more for local truck drivers" but "complain to government and get special visas to get cheap truck drivers again". There's probably heaps of unemployed truckies in the UK that would have worked for a fair wage...
But thats exactly the opposite of what they wanted
Except they are paying more due to supply and demand, and bus drivers are switching to truck driving because the pay is a lot better. Qualifying to drive a truck professionally in the UK is an involved and fairly long process, which means that boosting the number of native drivers with wage increases cannot quickly meet demand, so special visas are needed in the short term at least.
Of course, had the conservative UK government predicted the blindingly obvious reduction in the number of lorry drivers due to EU drivers leaving, then they could have boosted training during the transition period to lessen the impact. However, as could be seen from the preparedness of the UK Brexit negotiation team, forward planning is not this government's strong point.
@@davidpowell8249 Sure, and good for the drivers! That's not the message of the video though.
A truck drivers wage has almost doubled since the shortage.
Big businesses of any kind, especially those that are listed in stock markets, measure their success in terms of revenue and profit growth these days. If you made 100 million last year and still make 100 million this year, that would mean 0 growth and would be seen as a bad year. For them, asking them to increase wages probably sounds more disastrous than asking them to sell their mothers.
I arrived in the UK in 2007. About a year after I arrived I was offered a job at a large company in Denmark that my old supervisor recommended me for, but I turned it down.
In a parallel universe where I took that job I'd have EU citizenship instead of UK, an attractive Danish wife and a much better salary (which would be taxed a bit more).
In a few years, hardly anyone in the UK will own up to voting Leave. At least I have an Australian to escape with when the time comes.
So sorry for you. About wives, you can try dating British girls, but I don't think British girls are as attractive as Scandinavians by any means...
@@sharknado623 I work in academia, which has a mix of people from all over the world. Lots of lovely international ladies.
@@crowmob-ii2ng I should add that my supervisor was probably trying to make me take it to muck up my career. He was/is capable of being not very nice and the job eventually went to his favourite person in his group. It is possible that his favourite was actually 100% lined up for it and my old boss was just trying to mess me around.
I think over time we will rejoin or be so close as to basically be part of the EU.
This is not happening.
We do not want uk back in Europe.
@@francescozani9488 Many polls now show clear majority of people in the UK want Rejoin. We should never have left.
The referendum was 'advisory' and there was a lot of dodgy promising going on. We are worse off because of it.
As someone who knows nothing really about any of this, I no longer buy anything online (ebay amazon etc) from the uk because the taxes and import duties makes it more expensive, so I just buy within the EU now
so basically exactly what was intended with forming the EU and levying import taxes on non member countries
There is also VAT (it was 8% at the start but increased to 20% due to the banking crisis) and import duty for UK to import from Europe. Which was the intention of Brexit to encourage buying British.
@@QuentinUK Unless you are someone that exports most of their produce to the EU such as the shellfish gang. Think they didn't read the small print when they put their X in the wrong box.
"As someone who knows nothing really about any of this" is the biggest problem caused by the EU.
Go on you, I no longer buy anything from the EU, whose economy will take the greatest hit, great Britain or the communist EU.
With regards to the "labor shortage": any thoughts on the labor shortage in the US? The common rhetoric here, which makes sense to me, is that there's plenty of labor but no one willing to pay what it's worth. People seem savvy enough to reject an opportunity at McDonald's with a signing bonus, because that signing bonus won't make up for a low hourly wage. But if that's the case, then why haven't wages matched the demand?
Because demand for what these companies are selling hasn't increased but the supply of what these companies buy has decreased.
If there was a labour shortage but more people were buying goods than ever before then a company would be more inclined to increased spending because they could increase prices. However no one will buy their products if they raise the prices. My Brother-in-law said if they made him pay his workers £10 an hour or more he would have to sell his business and cut his loses, because his profit would be gone.
Comprared to the rest of the world our unskilled labour is horrendously overpaid. In India I could hire two people for the cost of one person from Britain and I might get twice the effort from each. This is why there is a push for automation in the service industry, labour is too expensive otherwise.
I as a layman would say that it is because the low wages *is* the demand. So there is a demand for a thing that is by this nature is expected to be both subject and excluded from the sum of costs=demand/supply. An economic paradox if you will.
Brexit.. Everything wrong from now on if brexits fault.
Correct. There is no shortage of able bodied people to work. Not at slave wages anyway...
Pandemics always result in labor shortages, which is good for workers who survive the pandemic, as it increases the power of labor.
your leaderboard compares pre-pandemic and post-pandemic measures.
By the time he finishes the leaderboard we are already through the singularity.
Releasing a non-video leaderboard every year with like 30-40 countries for his patrons with just a tidbit about each country and just leaving the country summaries in the channel as they are would probably make much more sense
But people then would cry about the lack of a leaderboard
It is all the old people boomers who know nothing about brexit who made us leave.
Just watched a similar video by financial times, love how you on TH-cam have better incisive and idea frameworks centered analysis rather than surface level effects not causes in the video by professional news organizations. Keep making these, cheers
Proper tag manager I would like. #TH-camAI
Ironic that the two brexit poster boy industries (farming and fishing) have been destroyed.
Yeah, it's stupid to focus on these industries when Agriculture accounts for just 0.6% of GDP and UK fishing industry account for less than £1 billion per year.
@@jmpompey1 Especially if you are an island, you want to have at least a little bit of food production... 65 million people want to have something to eat. And if they dont get it... oh boi.
Fishing is a mess but the solution is EU boats stayig on their side of the line representing territorial waters & British trawlers staying in British waters... Farming was in a mess which was caused by the EU common agricultural policy long before BREXIT. It will take time to unravel this agri-dictatorship & ground which has been used to produce chemical dependent crops will take more than a decade to recover. If Britain adjusts agricultural policy to a primarily a domestic food production model it will be a lot better...but that takes a long time.
@@davidbrewer7937 most of the agricultural rules of the EU are for long term sustainability (bad for short term monetary gain but better in the long run)
No.
That’s funny.
I’m enjoying this!😄😄😄😄😄
SMEs issue: We run a marketplace with 150+ brands. No EU brands wants to sell in the UK and no UK wants to sell in the EU. The reason: tax and bureaucracy. This effect has increased since July 1 due to the new EU OSS tax rule. All SME's in both side are hurting. However EU is a market with 27 countries (10 leading market). So it is easy to see how easy this is going to be played out in the next 3-5yrs.
The only problem with informative videos like this, is due to how TH-cams algorithms work the people who need to watch this will never see it.
Is this another creative way of saying the old classic "wow lolol algorithms why are we here?? Who else got this recommended lol like if you're here because of algorithm lolol!!"?
Thieieiess videoeoeoes issnnthhnnn't informative aaatteeee aaaalll!!
@@solmoman no, it's an actual problem. people get recommendations that fit their viewing habits. on youtube, google, facebook and so on. this creates a sort of feedback loop of echo chamber. it's a big societal problem because it helps spreading conspiracy theories and misinformation.
No matter if you voted for or against Brexit I hope all you cheerful islanders are doing great! Cheers from Denmark 😊
Thanks, same to you :)
Thanks man, and greetings to you from this part of the former Danelaw!
Nice comment, we left a political club not Europe. Take care my friend.
Thank you. Greetings to you Danish friends
@@talkingsense3969 completely agree.
There is a nice but imperfect little experiment happening in NI, if one wants to try to distinguish the effect of Brexit from that of the pandemic.
And some of the effects of brexit
Where can I find out more about this experiment?
@@gotofalograce9926 he's referring to the special position of NI within the UK. They have the benefit of staying in the single market while being out of the EU. While the UK has logistics supply problems NI is thriving. There will be reports about how NI is doing economically compared to the rest of the UK.
That's why they wanna ruin it lol.
what's NI?
Very bad. My business lost 86% of the sales. Already fired 83 of my 117 employees. Planing now to move my busines to the EU.
Makes sense. You’re not British.
good riddance :)
@@wallybeep He had a successful business in GB that you benefitted from, but are too stupid to understand that!! Leaving makes GB poorer, because some idiots decided to fill you heads with hate! London WAS a financial capital for a very good reason that now is gone....
@@romkir2802 Not too smart are you
@@nixl3518 What did you expect with a name like Wally?
I would really enjoy to see a video of if you were to start an economy from scratch how exactly would you design it personally.
A communist one for a very small population (a village), a Socialist one for a bigger one (a city) and a capitalist one for anything bigger.
A result that is not visible from an economic perspective, is that Brexit massively energizes independence movement of Scottland and to a lesser extent, Ireland. This will hit hard, if it come to pass
The last Scotish independence referendum was really close and one of the major arguments for the remain-voters was that dropping out of the EU could in theory mean having to re-negotiate the deal to get back in. That argument is completely gone now. Wouldn't be surprised if another referendum succeeds.
As an Englishman it is time for Scottish and Irish independence. They are a colossal waste of resources which are increasingly needed in England.
traitors
@@80Day_bender then why does your government and queen want us to stay so badly? Please help us leave, appeal to your local MP. Thanks for your support for independence
If they succeed because of that it will show how dumb they are. Scotland will never join the EU again. Spain won't let that happen. Accepting Scottish independence will trigger all other Spanish secessionist movements. Scotland will only lose from its independence
The pandemic did helped Brexiters in the sense that hard times were not Brexit's fault but the pandemic's.
I'm in the EU, Britain litteraly helped vaccination here, and in the words of the EU Parliament "this has been the best advert for brexit"
It more than likely is Brexit's fault but given the type of mindset and mentality that you are dealing with here, I doubt very much they'll ever admit to it.
@@neilburns8869 whatever helps you cope. I live in sweden, I just applied for citizenship, no dramas. Nobody has had any trouble in the uk that I know of, definitely not asked to leave. Yet I go on TH-cam and it's a disaster. Lol
So what is the eu excuse for an economy that was hit worse than the u.k ?
Worst inflation than in the u.k?
And worst vaccination roleout ?
I wonder
@@neilburns8869 Judging by your mindset, you will never admit that the apocalypse didn't happen. I bet you love the pandemic to try and persaude people that any issues was due to Brexit.
This is one of the blessings of the Internet.
I never, ever was interested in economics - you changed that.
You need to make a follow up sometime in September or any autumn/winter month when the real pain hits companies.
-4% long term GDP doesn't sound like much until you remember that all the recessions in the UK since 1931 has only been like a quarter of that. I think most western countries would label such a development as 'catastrophic' and the government responsible should fall instantly. British doggedness isn't just a stereotype, I guess.
A recession and long-term GDP projections aren't comparable.
@UCQhfOZdkk10gy9BdCpf9k_Q I don't think you know what you're talking about.
@@0w784g No they aren't because long)term GDP projection are far far worse!
Recessions can be recovered from, the long term negative GDP cannot. It's not hard to see which is worse...
Brexit is a continued drag on the economy.
@@tobiasL1991 Not sure why you're telling me this. I was just pointing out the original commenters foolish correlation of revised down long term growth and recessions.
@@0w784g What? No the correlation is correct. As recessions can be described in long term GDP damage. Like covid is -2% long term GDP and Brexit is -4%. The comparison is valid.
Feels weird going back to Brexit doom and gloom after 18 months of COVID doom and gloom.
Play stupid games win stupid prizes.
@@aminulhussain2277 yep. We have all won the stupidest prize for the stupidest game that the Conservatives ever played.
@@FullMetalAsh Letting people have a say on the relationship with Europe? How dare they.
@@0w784g the average person on BOTH sides of the camp was no where near qualified to determine the impact of Brexit before the referendum. That's why we elect MP's for Christ's sake. It should never have been a people's vote.
@@FullMetalAsh I actually agree even though I'm no EU fan. Binding referenda are literally unconstitutional which is why it was an "advisory referendum" to get around this and the PM had no intention of honouring the result himself which left us in chaos with a parliament hostile to leaving with no clear plan which the tried to get a mandate on a way to leave just to not get that mandate and end up with a minority government that was paralyzed for another two ! There should have been a clear sense of what 'kind' of Brexit at the very least in the Tory manifesto (Norway, Canada style etc.) but instead we got leavers of different stripes all claiming the vote was a mandate for their particular version of Brexit and causing chaos.
In addition, if you're finding it hard to differentiate the problems caused by Brexit and caused by the Pandemic, take a look at Northern Ireland which has only really had to cope with the Pandemic. I don't see empty shelves, truck driver shortages in NI.
There have been more shortages in NI than the mainland due to the new red tape.
@@SimonEllwood of what? You can just drive a lorry across the open border with ireland? You can't do that in Great Britain, even if you had the drivers to do so.
@@sandycheeks7865 The shortages are of things like British Sausages and other items sourced from the mainland.
@@SimonEllwood : Why would people in Northern Ireland buy British sausages when the ones produced in Northern Ireland and the Republic of Ireland are far better?
@@celticlofts Ireland is British, and for whatever reason people in Northern Ireland have been buying produce from Great Britain which has been in short supply recently. What are the best Great British sausages you have tried?
I only know what my company did which was to close down and fire around 50 people, it´s a drop in the ocean though. Havn´t really been paying attention to the British economy, the pandemic did however favour those in favour of Brexit, it´s hard to blame Brexit for any economical issues with the pandemic´s influence.
Well, the British people will wake up soon. All EU countries economies has starting to recover. Except Great Britain's. And Ireland has skyrocketed with a 14% record increase thanks to .. brexit....
You should have a chat with the crew of the Kinsella that's been docked in Hull for a year....
@jon b
Oh, so now we are blaming the victims? You don't seem to have _ANY IDEA_ about what you are talking about. As only one example, do you know how much it costs to filling all the papers needed to export something since the brexit rules was implied? No you don't. Do you realize that the person who is ordering things from GB pays VAT + custom fees to get their goods? No you do not. That means that the same goods is much cheaper if they buy it from another EU country. Do you want me to tell you more about the _ NEGATIVE_ impacts of Brexit, Einstein?
British companies over the decades have had to close down because they could not compete with the European market fixing.
Your company closed down and fired 50 people but you havent really been paying attention to the British economy?
what
The cost of living, especially housing is just too high. You cannot live on professional salaries, getting married & having kids is a dream- unless you can finance it with debt.
Thats a bit of an exaggeration but in places like london that is quite true
this is largely true of any western english speaking nation
In what world do you buy a house that isn't financed by debt?!
Easy to answer - over population. 10 million new people in 20yrs and little house building during that time (but no doubt the blind will just close their eyes and scream racist
I feel like this applies to many other nations right now, its a sad reality
One thing that might be good to add to the leaderboard would be the date when the score was calculated
it's just an average of the individual scores together
@@jasonisbored6679 yes, but those individual scores can change dramatically over time. See eg. the stability score which went from 10/10 to 8/10 in just a couple of years.
Explain
It will be the new Singapore, we already see companies moving from Holland to the UK. Short term pains but a competitive force , that’s even acknowledged by the EU negotiators
@@jordie4423 Which companies would that be?
Interesting and many thanks. I think there is some simplification regarding the labour shortages. Transport companies (my area) used to routinely train lorry drivers, but then "cut back" as they could recruit from other areas. So as this core set of drivers aged/ retired (thirty years on, about now!) there is no back fill. In the case of casual, low pay rural workers the pay and conditions have suffered as employers made the most of the influx of workers who would put it with it. That has stopped and now who wants to do "hard physical work, live in caravans on site, shared bathroom and toilet facilities, minimum wages" (from a local fruit growers advert)?
This is exactly what happened across the UK and the reason Brexit happened. The local people were being replaced with cheap workers from Poland and immigrants that entered and were legitimized through Germany. Then there is a surprise when there is a big demand that those people aren’t staying around. Companies got used to cheap labor pushing down local wages, having a labor shortage in the market is a good thing, it drives invention and drives up wages. Obviously if the government intervenes in it, then that drives up inflation (too much money chasing around too little product).
Yes, it is more nuanced than the video made out. For a start the government introduced IR35 which meant a lot of drivers decided to do early retirement or change jobs rather than pay all the extra tax, or take a pay cut by joining haulers as a permanent employee. This also affects lots of other private contractors, and therefore the economy. Because of the pandemic the driving licence testing centres were shutdown, so new drivers were not becoming available, this also impacted the NHS who couldn't get ambulance drivers to take the HGV test. I read recently there is still a backlog of 40,000 HGV tests to clear which were cancelled due to the lockdowns.
@@GuruEvi Couldn't agree more. People doing logistics work were suddenly suffering from lazy managers. Easy to use agency staff, minimum wages (I've seen the payslips), minimum training, accepting zero/ 4 hours contracts. Then others wonder why so many voted Brexit!
I have not enough clue how British working law works, but I just provide an example why here in Germany, we have a decent supply of lorry drivers:
A. Companies, which train people, get a ton of benefits for each new trainee(they are called "azubi" Here, I hope trainee is adequate) and on top of that, the trainee is much cheaper to maintain during that time and is more likely to stay with the company. All of this leads to companies rather training new people, which will be payed less because even after they finished, they are still getting less payed than a driver with a lot of experience.
B. Companies can rely on a broad number of logistics firms from the EU, which makes a lot competition and a good market adaptability
C. It is super f hard and risky to employ illegals (foreigners or non foreigners) because a. Companies have to show their finances and b. If a person without adequate documents is controlled on the road, the penalties will be super high, not even talking about the reputation damage. Because of that, large scale employment of foreigners doesn't make that much of a difference because they too join unions and are subject to the regular laws.
Because of this system, an influx of migrants isn't an issue for the wage but solves the issue of lacking personal for logistics companies. Of course we have the issue of a stagnating wages, but they are more tied to inflation and the poor tariffs negotiated between unions and employers(and many other factors, to long for this).
So yeah, my question: why do you have issues finding new trainees on the island? Don't they have the same benefits like here in Germany? And how are foreign workers treated?
@@bomschhofmann1644 Interesting and I agree with your points. Foreign workers are treated the same way as UK workers, but they are prepared to work under conditions that UK workers thought they had overcome - no contract, short hours, poor working conditions etc. The logistics training schemes used to be very good but they have slowly been dropped, trainees don't often see the long term benefits, just the short term low pay. All of this is from my personal experience of course.
I find it hard not to laugh at how he ends his woooooordsssss.
Brexit has been an amazing. Endless entertainment.
That, all sides can agree.
I was waiting for season 6 of Brexit.
It's been a lull since Bercow went. You stick around mostly for the Boris memes now.
Too much cringe humour for my taste, couldn't watch past season 1
It is a long episode of Monty Python.
IR35 is also a huge factor in drivers leaving the industry, along with the lack of facilities such as bathrooms for drivers (compounded by closures due to covid). There's a severe lack of younger drivers taking the place of those retiring but is that a surprise when its frequently ranked as one of the first jobs to go due to automation?
It's nice to see other people raising this issue, ir35 as created labor shortages in many industrial sectors including the sector I work in
@@TheSharpy088 Agree IR 35 change has backfired massively, short sighted money grab from the treasury. In my previous role (banking sector) they assumed everyone was inside without actually doing proper determinations (literally mail merged peoples names onto a document saying we are inside, also sent info about determination to HMRC *without my permission* I was livid) and were shocked when we all left on mass. They offered permie contracts but they were no where near don't know a single person that took them up on the offer. Business also needs to wake up and realise contract employees are a super useful way of bringing in expertise in a flexible manner. They need to do proper deterinations, buy IR35 insurance and add it to the cost basis.
Outside of sterile, off-road areas like ports and logistics hubs, fully self-driving vehicles are never going to arrive as quickly as Elongated Muskrat would have you think.
Another, perhaps unexpected, factor in the driver shortage is that it's self-compounding to a small degree. The shortage has caused a spike in agency driver rates (up to £40/hour) and most drivers are 40-65 so they're not inclined to work themselves to death like a school leaver so some have been working only 2 or 3 days a week for the same money that they would've got for driving a whole week.
@@mememaster147 you should look up the ir35 reforms and the effects it has on contractual workers... then you will understand why there has been a sudden increase in pay!! Like in many other sectors... its to cover the cost of the tax hike that's been imposed on contractor's
@@2k10clarky short sighted money grab?
Its getting people to pay the tax they owe as they're employees...
Businesses have been keeping pay low, because people could get away with not paying proper tax, and therefore had higher net pay than they should.
And now the revenue has clamped down on the dodge.
If you're a legitimate freelancer or contractor, it won't effect you.
I wonder if the question presented to the public was "Would you like your cost of living to rise indefinitely? Yes or No." if the outcome would have been the same.
That was essentially the question being asked, although apparently more than half the voting population failed to notice that.
But that wasn’t the question presented, so that’s a completely useless point to make. It was a question of national and cultural sovereignty and identity, despite the financial fallout
@@anthonyowens6446 you were tricked in believing that. it's really not at all like that. countries within EU are just as sovereign as outside of it, it's just that EU comes with recommendations and policies that basically only influence the economy, and in case of western countries, only for the better.
the EU policies can have ups and downs for some of the countries in the East; but generally speaking, through brain drain, financing and regulations, it makes it so that sectors like production, agriculture and industry of the already developed countries, can outcompete these sectors in the less developed ones.
to give an example, normally, it would be more efficient to start a factory in eastern EU due to low labour costs, ease of access to resources and possibly relaxed fiscalization. however, due to some of EU's policies, you can just as well build that factory in Germany, import the resources for next to no added cost and bring the same workforce to Germany. Should Germany feel less "sovereign" and should feel like its identity is lost cause some workers came there? It's retaining the capital, making profits, collecting taxes and so on.
@@plokijplokij97 Fined 200 million a year when they get 12+ Billion from EU as net profit (12B over what they spend on EU).
You see, Poland was fined because they lost a process back in 2021, cause their Constitutional assembly that basically can overrule any law, is politically controlled, while the entire purpouse of it is to be outside of any influence from political factors.
The fact that EU cannot control Polish legislation in any way and can only apply a fine (applied after trial) until they decide to fix this flaw in their democracy, is basically a statement of sovereignty. Poland can also choose not to pay, but of course EU funds will be affected.
UK was by far the biggest benefactor of the brain drain of Eastern Europe, and yes, this is a problem for Eastern countries. However, this is not a reason not to be in EU, do note that Romanian and Bulgarian GDPs tripled since they've joined EU, and increased roughly 8 times since EU money started poring in 20 years ago, with the pre-adheration funds kicked in.
@@plokijplokij97 And no, UK did not leave EU due to any immigration laws, that's just a pretext that your elites told you, since they knew English folk are sensitive to that topic.
EU immigrants were a huge economical gain to UK (on average, they produce just as much as the natives, but only take 10% in social benefits), The fact that now UK accepts way more immigrants (from outside EU), that are on average way older, way less skilled and usually come with families (bigger burden on the social systems), is just a proof of that. Of course this was all known to the ruling class, but they don't really care about your economy, they only care about getting EU off their asses on the tax evasion and money laundering (as EU was ready to implement new rules and regulations against that).
Ask yourself why so much money were spent on Brexit campaigns, why every media outlet was supporting Brexit, why most public figures, especially shady ones, supported it? Where all that money came from?
UK is the undisputed world leader in money laundry and tax evasion through the overseas territories, we're talking trillions of dollars/euros/pounds. You don't think that your overlods would lose such a lucrative market for the sake of the common people.
They didn’t use ‘baby’ talk.
Very informative. Thank you and well done.
Would be great to see a similar analysis for Brazil. The country was expected to have a 5% GDP growth in 2021, but due to some pretty intense inflation and currency issues the projections are changing drastically. Plus there's the whole geopolitical situation with the country and despite all of that Brazil has a massive industry and it's one of the largest countries in the world.
Keep up with the great content!
It also has one of the dumbest president ever.....
So what are you saying re GDP growth will be now?
Massive industry, man you are a bit delusional
Massive industry hahaha
@@gustavospagnolcampos1958 Indeed it's been suffering a lot in the last couple years and the current government is not doing enough to maintain the infrastructure, but you obviously can't compare it with the big markets, it's the largest by far in south america, even though it might be an even worse indicator for our neighbors..
"We'll let you in but for 3 months, at lowered wages, and just a few of you."
You see what's wrong with this picture boris? This isn't going to solve your labor problem
the one million aborted babies would have helped
Edit: My mistake 6.3 million aborted babies that would have been born between 1969 (abortion legalized in UK) and 2004, all over 18 and of working age.
He has know idea.
Stability is the base of prosperity
@@thyrassword9698 ah yes, *child labor* is the solution to worker shortage.
@@thyrassword9698 you abort fetuses not babies.
I learned about "zero hour" contracts and pensioners lighting their homes with candles while heating with newspapers...yeah, let's look at those numbers again.
How can losing £800m a week in lost exports directly due to Brexit be good news?
Probably because it wasn't very serious, at least not to the majority of Britain
You lost.
Please stop whining.
@@E14Art No, we all lost. It's not a football match.
@Spudman I work in the education sector. As a direct result of Brexit I've lost work, contacts, goodwill. If you call yourself British, but will happily watch our services sector, farmers, fishermen, hospitality sector, etc all suffer you are not a patriot to this country
@Spudman better question; what have you personally gained from brexit?
That whole 'voting away their own freedom of movement' thing, was a comedy classic.
Might have been a comedy classic for the rest of the world, but imagine having to live through that haha
How many people actually benefitted from freedom of movement? I worked without problem in Holland and France pre EU.
@@anthonymcguire3618 thousands
@@anthonymcguire3618 A lot. People in UK used to own a lot of real estate in other EU countries and could travel easily, but now they are fucked.
Most people don't value freedom-of-movement much. It's David Goodhart's "Somewheres vs Anywheres" distinction. Leave voters would generally consider the UK their home, and a core part of their culture and identity, and have no intention of ever moving abroad.
this GDP ranking is giving me Doug Demuro vibes. when do we get a quirks and features of the economy video?
THISS IS THE 2021 BRITISH ECONOMY AND I AM GOING TO COMPARE IT WITH ALL OF ITS QUIRKS AND FEATURES TO THE PREPANDEMIC ECONOMIES OF IT’s EUROPEAN NEIGHBOURS
And then I'll give it... a DOUG SCORE! 😂
😂😂🤣
Noooooo
And then, I'm gonna take this economy out on the road and see how it drives!
One of the best videos I've seen on the matter. As an outsider to this situation, this video really helped in understanding the entire topic
we had the best deal ever, so we left and now we are in trouble
6:00 A lot of companies did exactly this before Brexit was officially online. My home insurance company sent me a letter the day after the Brexit was announced that they're transferring their main offices from UK to Germany instead.
And Shell are moving their headquarters from EU to UK now, what's ypur point?
@Nehemiah Scudder Mostly from the U?K to the EU.
@Nehemiah Scudder Royal Dutch Shell and Unilever - just 2 examples from just one EU country that are moving from the EU to the UK. The EU has back-peddled on their threats to end The City's dominance of the banking clearing markets as they've realised they don't have the skills to deal with, extending the UK's dominance of that lucrative business. There are multiple examples of changes in both directions but only the end of the distorting pandemic and the passage of another decade will give a true indication of the success or otherwise of Brexit. The only certainty to date is that the doomsayers predictions have spectacularly failed to materialise to date....
@@dw8609 Keep drinking.
@@sueyourself5413 And you lost. You cannot accept it but the reality is "You are a loser!" Fact! Both in the referendum and as a Brit - if you believe your own rhetoric..:-)
What is worrying is precisely when one starts saying "it is still..."
As frank field quoted in 2019 “the House of Commons dominated by majority who want to remain”
Growing less than italy and small companies sell way less to europe due to customs, its working like a charm ;)
“a functioning democratic system”. Have you ever see the relationship between UK election results and the allocation of MPs? That’s not a democratic system, much less a functioning one
Australia have single seat elections that elect the government from among themselves so it's as democratic as his homeland
I prefer (no pun intended) preferential voting, but it’s far from the only country with “first past the post”.
compare to the rest of the world it's great
@@catmonarchist8920 slight but also major difference. Voting method. Our method of preferential voting is far, far better than the First Past the Post voting in the UK and US. In australia that candidate the most people prefer gets in. In the UK there are seats which are won with 30% of the vote due to vote splitting from different parties. With FPTP voting for your favorite choice might mean your least favorite wins the seat. With preferential voting you can list the candidates in whichever order you want and your vote won't help your least favorite candidate get into office.
@@santaclaws1501 I agree in theory that it is slightly better but in practice they result in the same outcome. The UK did models leading up to the 2011 referendum on preferential voting and found that from 1979-2010 only one election outcome (1992) would be different. Same thing for the French two-round system. The major difference would be fewer Nationalists as the unionist vote is split three ways so the SNP win on a majority. Ironically, the Tories who fought against reform would have probably been better off in 2015 with second preferences from some LibDems, most of UKIP and unionists in Scotland and West Wales.
Robust laws and a functioning democratic system, are you actually talking about the UK?
Certainly not talking about the USA!
I'm the biggest anglophile there is, and Brexit broke my Mexican heart.
This aged well. Empty tables at Christmas? Panic buying? There was some Petrol panic buying due to EU rules we hadn't scrapped, but that's about it.. You need to research better.
Can you do a deep dive into what an economy would be like once almost everything is automated?
That would be an excellent video! We want to know what to do with you bags mostly filled with water when we take over. 🤖
P.S. Have you seen our dance video?
th-cam.com/video/fn3KWM1kuAw/w-d-xo.html
you will own nothing and be deeply depressed.
If everything is fully automated we'd probably be in "Elysium", Marx's dream Utopia; everyone can do whatever they want without worrying about much, "Star Trek" or "The Matrix".
@@ndricimhalili9793 I use to Dream of such things as a child, now I feel our future is probably more mad max or something like that
@@hamishgaffaney5323 same
When you said that they have been "shot off" of the access to the driver, GB pushed out the driver and European worker. Also, you mentioned the 5000 temporary visas without stating that they are not attracting back these workers.
Yeah, i read about those, apparently those drivers now understand their worth and are demanding higher pays with better benefits. Basic economy for sure but tricky situation for the UK.
in all of the EU there is a huge shortage of drivers, not only the UK + due to the shortage they ask and get more money
He also said the UK has "robust laws" and a "functioning democratic system". Biggest laugh I had this week (given the week is still young but still)
Last time I checked, less than 200 drivers took up the visa scheme. Roaring success
I read they got 27 applicants, so that visa scheme didn't work out well.
doing great, thankyou very much!!!
What an excellent video!
We have the came problem here in NZ they can't import enough workers to work for peanuts but they refuse to pay a reasonable wage !!
In my opinion the whole brexit thing is a perfect example of what a bad and polarised information, plus online fake news can do. And it's scary.
What fake news
I agree the BBC/Sky/Channel 4 instead of being balanced and fair in reporting in the referendum decided instead to do everything possible to scare people into voting to remain, this backfired. If they had done their job correctly the result may have been different or a even bigger vote to leave
Poland is leaving
Thanks for helping me on my homework!
It’s worse. Nigel Mirage must be brought to justice
It’s going very well, very well indeed. Thanks for asking.
- Britain said calmly.
Harry Potter refrence
"There is no war in ba sing se"
Britain says calmly, with trembling upper lip😱
"It's going very well indeed" Britain screamed calmly.
@@dragon1011dk The emperor invites you to Lake Laogai.
You know, this makes me think you should make a video on the old British/Australian money system. It'd be interesting to see how switching from pounds shillings and pence to decimal currency impacted the economies of these countries.
Wouldn't be interesting because if you watched more than a couple vids by him you should know how heavily biased he's going to be on such matters. Might as well ask a Jacobin if he thinks the decimalization of the week and time was a good idea.
It was definitely inflationary, 10/- and a pound note was a sort of "money', ie.... I promise to pay the bearer.
When pound notes became coins, the coins were easily counterfeited with lead and gold coloured paint spray.
These counterfeit £1 coins used to weigh down the pockets of taxi drivers on a Saturday night.
All you could do is pass them on till the paint rubbed off the edges.
You don’t honestly believe that our moronic Sun readers could cope with::-
12 pennies make 1 shilling, 20 shillings make 1 pound. do you ?
pretty much same thing about weights and measures ..
It's so simple to see how we were conned into decimalisation..
If you spend 100 pennies of your pound today, you have nothing left..
Pre- decimalisation, when we spent 100 pennies of our pound, we still had 140 pennies left, don't have to be a rocket scientist to work it out..
The slowest moving train wreck that has been incredibly fun to watch.
@Zockblatt Shickleblender Meanwhile losing many billions times more with needless tariffs, export barriers which have damaged local fisherman, and manufacturing, not to mention the millions of pounds lost paying politicians to execute Brexit itself. It’s nationalists like you who want to keep the planet in the Stone Age. Unless you’re a Bot, which would explain much about your last comment.
The EU does not have a freetrade deal with any member state, its called a customs union and its not the same thing.
its akin to one though, which is the point....
Thank you for your amazing work, you inspired me , at age 33 to go back to school and get a degree in Economics, thanks... A lot!!
good luck with school :)
Good luck! Cheers from Brazil!
Good luck, brush up on your calculus.
Good luck! They'll definitely put you on the front counter of Macdonalds with that.
I got myself a late degree 30 years ago. Since when I've earned more from my driving licence.
Hey, randomly saw your comment and felt compelled to share: I'm 35 and I'm back at school this year, starting an education degree. It's scary and hard in a way, but I feel proud of myself and I'm looking forward to the future. My first semester is already almost over, time flies.
Best wishes for your degree!
Interesting assessment - I would have liked the final table to include a pre-COVID and pre-vote comparisons. Also there was not discussion of upcoming issues - you mentioned the 5000 visas without mentioning that they had failed. And no one seems to talk about the continued lack of customs checks into the UK and the impact on the supply chain they will eventually have.
👏👏👏
i think there are a lot of points not mentioned in this assessment and considering the title of the video "How Has Brexit Been Going?" i would have expected a bit of different content.
the titel of this video would be better "brexit is not that bad at all"
OBR assessment, UK economy down 2% do to Covid, and 4% do to Brexshit and no any good news in near future
ENJOY your Sovereignty, move on and get over 🤣🤣🤣
Correct. Brexit still isn't done because not all customs and sourcing rules have been fully implemented (particularly by the UK) and financial services will still continue to be moved into the EU due to regulation.
@@AnexoRialto Not sure how financial services move due to 'regulation'. Perhaps there'll be short-term blips (aka France), but as seen almost everywhere throughout the 20th & 21st centuries, most financial services will quickly unshackle themselves by moving away to avoid regulation.
"the best economic plans would be struggling in the global economic environment of 2021"
US: haha 0% interest and great resignation go brrrrr
And inflation over 5%... "transitory" lol
Ha! Pretty much. I'm not saying the last administration was great, but the current one is probably a worst case scenario for leading a successful recovery.
Need 10 years to assess the impact of Brexit.
Is there anyone here actually from the UK that has seen major shortages in the real world? I'm in Wales and apart from the run on fuel I haven't seen anything but I don't know what things are like in the rest of the UK.
Other than a few ques at petrol stations a few weeks back, nope. I even managed to book a hair cut tomorrow morning with no issues and saw my doctor the same day I called. XD Miracles?
I'm in Nottingham and it's only the Co-op that's been struggling and even they are nearly back to normal. All the other supermarkets have been fully stocked for a while now
The fuel shortages were caused by fuel companies reacting to the government threatening to raise fuel duty ie tax. It was not supply unlike natural gas which is caused by green policies favouring natural gas as there has been no new nuclear and no coal.
@@jwadaow no new nuclear? What about Hickley point c?
I'm in the North East of England, and I've seen no major shortages. The fuel 'crisis' lasted about three days cos a load of sheep panicked.
This seems like one of those "the grass is greener on the other side" scenarios but the grass ended up being green painted concrete
No it didn't, the same leftist ideologues who opposed Brexit are the ones saying how bad it is now.
The people who voted for Brexit haven't changed their minds.
@@jdg9999 keeps telling yourself that.
The hard liners haven’t changed their minds. The people who would have voted UKIP and believe all the bollocks and the sun and daily mail. But a lot of the people who went into the vote on the fence and we’re convinced to vote brexit regret it. I know plenty of people like that. There are a lot of people out there who feel lied to by the leave party and by leave supporters who spread complete bullshit on social media.
@@JimLadBossMan I am sorry but I don't believe you know plenty of people who regret voting for Brexit.
@@remainertears if you were sorry then why did you say it 😂 I don’t care if you believe me man but when you think of all the promises the leave campaign made and hasn’t been able to deliver on and all the chaos it’s created don’t you think it’s possible that a lot of people would have changed their minds? Especially now they don’t have Cambridge analytica spoon feeding them custom made propaganda on a daily basis anymore 🤷♂️
@@JimLadBossMan Most remainers think they're European elites and elevate themselves, very arrogant and egotistical. I don't know why, most of you are small minded.
I have not seen empty shelves yet. I have noticed more and more British good and foods on display. 😂😂😂
Living in London I've seen empty shelves for a few weeks. Fully stocked now though.
Nice view of "Old Harry Rocks" and Ballard Down at 3:09 on the coast between Swanage and Studland in the Isle of Purbeck, Dorset, England.
people screaming: "foreigners are stealing our jobs", now it's your chance heroes 👌
They probably all scurried off to hide away like farange did when bexit passed.
Those hero's, sitting on benefits in benefit house's and smoking crack. That's why, they have labour problems in first palce.
@@valdasnetavo8746 mom spaghetti
@@sotch2271Good for you.
I think it's brillaint, more choice to choose from in my sector now, brexit was a blessing. made my life better, gone into a much better paid job for what I do now in the tech sector as companies are paying great money to get folk asap.
Been waiting for some analysis on post-Brexit UK. Thanks!
I hope you don't let this stand alone - it's superficial and not very precise
4% drop in GDP due Brexit. 2% drop due the pandemic. Source...Office for National Statistics/Office for Budget Responsibility.
@@californiadreamin8423 why dream of California. Just sell up and move there if this country is a fucked as you think..
@@pauln0371 Now then Paul, you’re beginning to sound like Billie Pipers Teeth. I have as much right as you to point out facts, and my taste in music has nothing to do with a desire to live in California.
You’re right though, this country is really fucked up, and I’m not afraid to admit it.
@@californiadreamin8423 Not the most objective sources you use there..
I blame both the LEAVE party and the REMAIN party for this chaos! Neither party adequately explained the full ramifications of leaving the EU. All you had was the leavers banging on about “sovereignty” ( as if that really matters in 2023?) and the leavers promising “new deals” (who with, I’d like to ask?). The result is that we have the worst of everything and the best of nothing! And as for Nigel Farage…….? Don’t get me started.
"It's bad but it could have been worse"
-Basically every excuse on Brexit
Remain largely campaigned on economic aspect. Brexit was about sovereignty, social and political. Being aware of the economic consequences is hardly an excuse from the Brexit side.
@@Clickathon Are you saying that Brexit never argued about the economy being better and therefore they don't need to defend it's decline or that even if Brexit wasn't about the economy the Brexiteers don't have the right to use that as an excuse?
@@Gravora I'm saying it was never the priority. Economic predictions from Remain side has so far been more inaccurate short-term (outright wrong in some regards), long-term remains to be seen. Political decline or stability is more an issue for EU than the UK. Economic talking points alone will not stop others leaving the EU.
@@Clickathon ONS says its predictions on Brexit are pretty much on point so far.
@@Clickathon ps: no one else want to leave the EU.
I don't know if other places are facing a huge shortages of bus drivers , but in South Yorkshire it is an absolute knightmare these days to get a bus.
Oooooh nasty
So? Why is your country not employing its own people?
If UK transport companies had paid decent wages this problem wouldn't exist.
Yeah, that sounds more like an issue stemming from Covid. If a job requires you to drive around hundreds of people in a confined space there should probably be some kind of hazard pay during a pandemic.
You spelled nightmare with a k! Harry Potter joke?
Per capita gdp is meaningless to the population especially in the UK as the inequality is so vast.
As a Brit, the absolute worst part of it all is the avid Brexit supports still won’t admit that it’s detrimental to the economy, as the video mentions far too many people attribute the current struggles to the pandemic. Reality will hit them eventually, but it’s frustrating to see so many people outright deny or ignore the issues caused by Brexit which was entirely self inflicted.
That is very insensitive comment.... do you knowhow fragile their ego is? 🙂🙃🙂🙃
ah poor old Britain, I guess it will just fade away like the nymph 'Echo' who loved Narcissus but was ignored, its not as if Britain has ever single handedly ruled the earth and survived and won the greatest wars the planet has ever seen... is it...
@@jk28416 what's your point? Unless you plan on dusting off the Dreadnought, calls to colonialism are not going to undo Brexit-induced financial contraction
@@MichaelH3948 haha, my point is obvious, Britain has been in worse financial conditions before, but managed to survive and succeed. You are no longer worrying about the 1760 financial collapse. Ultimately the Success of Britain is reflected in the fact that the world speaks English.
I run a small business in the UK exporting my product all over world, much of it EU countries. Brexit made very little difference; basically parcels needed a customs declaration but no duties were charged anyway. However when IOSS was rolled out in July that was a massive pain in the neck. My existing couriers into the EU let me down badly and I had to find new ones. I suspect that small businesses in the EU have probably suffered as well.
Duties are charged in the destination country and the paper work happens on both sides, thats the problem.
@@JeanWayne the problem is getting VAT registered in a country (or block like the EU) where you have no presence. That's expensive. Fortunately I was able to find a courier who allows me to use their VAT registration in the EU, and just invoices me for the VAT. It's a brilliant company (called SAMOS-E).
RoO certificates might be the bigger pain with exports, esp. that many businesses are not aware of the fact that you need to present them for the past year as well.
Wait, the UK's problems are because of Brexit and the US's identical problems are because of Covid. Seems like you have a bias here. If you really wanted to be unbiased, you would show the comparisons to other countries at the same time periods, not just precovid, but also post. What's your game here?
Wait so did it make little difference or did you suffer like other small EU businesses? 😂
Any chance in tackling Bosnia and Herzegovina in the future? It may be an interesting study of what politics can do to economy.
First you have to separate the Men from the Boys. Let the Serbs have their own independent political entity as they wish, and the rest will fall into its rightful place.
@@donhuang9855 yes lets cut bosnia in half and create 2 serbias, genius.
where common sense ends,Bosnia begins
@@salihz3792 Who said anything about creating two Serbia? The Serbians in Bosnia are perfectly capable of governing themselves as an independent political entity of Serbian speaking nation, akin to what Scotland is to the UK, or alternatively this newly Serbian political entity created out of Bosnia's land could be integrated with Serbia.
@@donhuang9855 ratio
Brexit is a tough idea for me as I was a few months too young to vote but by the time we actually left i was over 3 years old enough to vote. We did a poll in our school and 85% said remain. The older the person the more likely the voted brexit which is horrific democracy to me as a long term change should give power to the young...
So who cares they and you are a child. The mere fact that you'll live longer doesn't give you more rights than anyone slighlty more older then you because in your absurd view you'll live longer.
Old people are not made pess because they are old and certainly not made incorrect in their beliefs simply because you think they are to old.
The young are stupid and misguided and you seem to be so full of yourself is insane. They old and middle aged all live in the country and all have the right to vote and not be cast aside because you want to very clearly stack the deck against your oppents.
Maybe you should look to your elders and see some wisdom and knowledge and experience and not disregard it because they are gonna die before you.
@@kordellswoffer1520 I think you've missed my point a bit here. My point was more so much that when a brexit deal was reached I could legally vote. My second point is that many people who voted for brexit were older and won't have to live with the consequences of it, good or bad. I never once said older people have less rights or are less valuable in elections
No, the young shouldn't be given more power since you're gullible and have no experience to make any decisions (especially not the TikTok/Social media, the dumbest group in all of history)
@@kordellswoffer1520 His view is not absurd come on
You a subject that many find mind numbingly boring, and made it interesting plus easier to understand I thank you sir.
we're living in the age of ignorance. and we're all suffering for it.
Yeah, I've often thought politics and democracy should be part of the UK's education curriculum, then they have not have been taken into this racket called the EU.
@@jasonkingshott2971 if people were educated then it would be the opposite, uk lost a lot more than it gained by leaving.
I saw nothing wrong with the EU membership and deals.
It's absolutely ironic considering the Internet is supposed to be a fantastic resource for nearly limitless knowledge of our world (or so some people claim it is).
@@allytank-itykitty7417 Well, the democratic majority of the UK disagree with you!, ah, democracy such a nasty word in the dictatorship.
I didn't see sovereignty or claps for the NHS in any of those figures so this must all be complete nonsense....
Don't forget breaking the shackles of the tyrannic metric system!
@@suakeli The tyrannic metric system is the de facto standard everywhere in the world. That even includes the USA when proper stuff is considered.
With the cost of living highest since the 1970s, energy bills set to increase by 50% in April 2022, with a further hike in October 2022, stagnant wage growth, inflation at its highest since the 1990s with wage growth far less that in inflation, advance warning of even more price inflation shock, slashed growth forecasts and an ineffective and corrupt government that is doing very little to support those hardest hit by blaming cost increases on the ukraine-russia war (all indicators were rising before the war) , is it time to revisit how the UK economy is coping post brexit?
Please explain how a global problem, that of increasing energy bills is EU related? That is only one example. Rising energy costs may be somewhat related to Brexit, but the fact remains the vast majority of it is external to the EU for the simple fact that the SUPPLIERS are external to the EU.
@@alganhar1 EU as a block has a stronger negotiating hand compared to the UK in buying wholesale gas/coal/crude oil. In fact, they negotiated quickly with Qatar, Norway, Azerbaijan and the US for supplies of LNG. Also the EU as a political block has already released funds to protect the most vulnerable citizens from the shock price rises. The UK, in comparison, has done nothing. If the UK was part of the EU, it would have benefitted from the blocs negotiation on energy sources. Inflation amongst western European countries is also highest in the UK, and is only set to get higher. You are very welcome to wallow in your own self delusion, arrogance and ignorance, but the facts are speaking for themselves, and if you live in the UK, those facts will hit your pockets soon
You said Germany relying on gas from Russia 😂 That’s worked out well for them.
Exactly!! 🙄
We don't relying only on gas from russia. Yes our economy will get some problems in the next winter, but I be sure we can handle this.
But what about energy prizes in the UK? I just red, that the bills for it has rissen for bout 54%?
Germans are supposed to be so smart too. I don't get why you would make your country so dependent on a messed up dictatorship country like Russia.
@@Karlach_ It’s total madness for any country to rely countries like Russia and China in my honest opinion.
Did an Australian just declare the UK a 'relatively barren rock'? :')
...in the middle of the Atlantic, even
It would appear so.
When compared to its most fertile areas, almost all of the earth's land could be described as relatively barren. For example, I live on a relatively barren rock between the Atlantic and Pacific oceans.
I don't know anything about economics.
But last summer we started receiving seasonal workers from the UK.
Update, we are f**ked
Labour shortages are a worldwide problem. Attributing this to Brexit is misleading and simplistic. Poland, where many drivers were drawn from, has a massive driver shortage probably in part attributed to them being in the EU and citizen flight.
the leader board isn't exactly fair as you have both pre pandemic rankings and post/mid pandemic rankings.
yip... because after pandemic the UK government will keep all numbers in the drawer... because it would look very grim for them!
@@Arltratlo this is happening.