Reminder that this was due to to direct government suppression of other cities via legislature, Birmingham in particular had its industry stripped away, infrastructure and gov projects all centralised on London, this wasn’t an accident, it was policy EDIT : Wrote the comment hastily on my lunch break - have a look at the West Midlands Plan of 1946. A quote from an article describing it. 'In 1946, the Government commissioned the West Midlands Plan, which attempted to constrain Birmingham’s growth - local government was obliged to achieve a target population of 990,000, lower than its actual 1951 population of 1,113,000.' 'The Government wanted Birmingham to shrink.'
@@m0o0n0i0r And that's why we need to figure out how to deal with that. My football (soccer) reform will bring back the football to the fans and the local communities. I work for a Swedish-German banker that knows Gianni Infantino personally. He is originally from Bern but spends a lot of his time in Geneva and Stockholm.
@@m0o0n0i0r With the irony being that the EU actually helped decentralise spending and investment in the UK away from London and into more economically depressed parts of the UK.
@@lindsaycole8409 indeed, i voted leave because uk politicians blamed everything on the EU. Now they do not have that excuse. Voters need to wise up. BTW I was born in leeds, moved to birmingham then moved to the South East, no work for me up north or the midlands you see. Accession back in to the EU would require the UK to adopt the euro and free movement. At least then we can have a clear out of the BOE and parliament if we did rejoin. My personal view, the UK is not good for the EU and visa versa as shown with so many concessions the EU made when we were in.
I'd like to move to a more affordable area but once you leave London you have less opportunities for work. This is a major issue in the UK. Glad this is being covered.
It's the same problem in Canada. However, Canadians recongize that there are limited jobs outside big cities. When I tell them this is an issue in UK with most jobs being concentrated in London they tell me I'm lying/exaggerating 🙃
It was built this way Hardly anyone in Britain ever reads history book. The UK is a product of the English aristocracy after taking over Scotland...... What do peasants not understand? 😂
Funny how so many people would like this, but when it comes to building infrastructure to incraese connectivity and opportunities in the UK like HS2, people are so averse to it. So hard to please this UK population nowadays, we just end up spiraling back to the same issues if all we do is keep complaining.
What really is sad is I had this discussion with my dad 15 years ago. My dad used to complain that Blair moved a bunch of public services to the north and that the south east was paying for the rest of the country. I agreed and said that the government should make policies to encourage private industries to create jobs outside the south east, to which my dad said no one is interested in starting a company or investing in anywhere other than London so it would be pointless to try. This lead to a circular argument when I asked how could he expect the people in the north to do anything other than public sector work to which he would still complain the north were free loading. It is sad that I, someone who has never studied economics, could see the issue a decade ago yet our leaders either could not or allowed it to get worse.
The other part though is that didn't they close a load of home office/immigration buildings outside of London at the same time (or at least in the early 2000s)? It essentially forces the asylum seekers etc to be housed in what was already the most populous part of the country. I remember hearing that, but I've never found a list of what places were closed, though it does appear that almost all the immigration parts of the civil service that isn't based at ports or airports are in South London...
The UK Government has been invested in destroying the North of England, from Clement Atlee's 'Town & Country Planning Act 1946', to forcing Birmingham to shrink it's population in 1951 through policies such as the 'Green belt' around the West Midlands, to a de-facto forced closure of coal mines, and a push for ever higher industrial energy prices by effectively banning new construction of electricity power plants, including "green energy" in electricity prices by law, not building enough new electricity production capacity in a decade, and by closing Britain's last coal fired power plant, despite rising electricity prices. The centralisation of the UK Economy on the South-East of England, and London, has been a deliberate act of all 4 large political parties (Cons., Labour, Liberals (Now Lib. Dems), and Greens) since at least the 1930s, whether they realise/d it, or not, all through the act of a push for Keynsian, and Socialist economic policy, despite the prior successes of the mostly free market in Great Britain.
@@creativeusername3408 There were a few left, but the version of events I heard said they started off with about 15-18, it's now down to about 7, and the bulk of the processing of asylum seekers happens in London, with the remainder mostly handling regional visa issues. As I've never found an article detailing the closures, it's possibly pub talk, but it feels about right having seen the queues explode in the London office
I got C and Ds in school and almost want to rip my hair out at the state of this society, i should be a little subjugated worker ant for these people, but, I just, can't do it, everything is so, self evidently pathetic even the average "disruptive influence" can see 😂
What is crazy is that people cant see that uplifting the rest of the UK is the best bang for buck investment, having rest of the UK being so far behind we should have relatively easy gains to be made, investing london more than we already do is wasteful because you don't gain as much as spending the equivalent in the rest of the country. Once we've leveled this somewhat we then have cities which can contribute well to each other.
It’s like putting a bell collar on the cat, all the mice knew it’s beneficial but no one wants to do it. The initial years of diverting investments up north will slow down the economy and no politician is willing to risk it.
How tho ? You use the word investing very liberally but it sound more like you want to subsidies them.Countries go from been agrarian to industrial and them service based all of these transitions mean more urbanization and concentration,the UK is a small country there isn't much space for two world class metropolis there.
@@mathyeuxsommet3119 Investment in infrastructure, housing and city/town centre projects mainly and nationalisation of natural monopolies. HS2 is a great example of infrastructure spending to benefit the rest of the UK but it's also the best example of how not to do it. We need more affordable housing and just more houses in general, city/town centres are now barren wastelands which need redevelopment to keep up with the times and attract more businesses to come and stay. We also need to start refunding youth centres as well to provide things for teenagers to do to keep them out of trouble and prevent them ending up in lives of crime. Private companies are ripping us off for our utilities which is keeping us poorer, nationalisation is an absolute necessity to stop this. It's not about creating London 2.0, it's about making the rest of the country less poor.
It's honestly so disappointing when you compare our regional "capitals* with similar EU ones - the complete lack of infrastructure connectivity of public transport is so lacking
The problem is that even large infrastructure projects like HS2 which was designed to connect the north started by connecting London to the north and then abandoned (for now) providing no benefit to the north and only benefits London. The same was true of Cross-Rail connecting the south west to London instead better connects east London to west London, with most outside of London improvements abandoned.
It's difficult to justify when the government is so cash strapped and projects like cross rail have the highest return on investment due to being in London and the associated crowding
I knew HS2 was a sham project when they started it _from_ London; a project wherein we simply lacked the knowhow, and no attempt was made to figure this out in the north where trial and error would've been far cheaper, and where it's sparsely populated so getting the thing connected would've been easier too.
I work in the academic sector and I have essentially been forced to work for a uni in the south east. There just isn't any money elsewhere. The majority of funding is in what gets called "the golden triangle" of Oxford, Cambridge, and London. I'm from up north and am managing to get away with working remotely. Other than just not wanting to live in the south east, I also just don't want to contribute to the regional inequality. Even if it is only my wage, which isn't much in the grant scheme of things, at least I'm funnelling a bit of that south east money back up here. It's grim up north.
It's tricky, but I think having knowledge/spirit in the north is helpful as well. I'm not convinced that so much work needs to be done in the South East, though I understand the draw, especially for graduates.
Tbh, most Londoners live paycheck to pay check, even the upper middle class. In the North you usually make less but you can save a lot more and buy better property for lower cost. So the technical wealth of the North I would say is higher in terms of real disposable income
This is why the cancelation of phase 2 of hs2 is so annoying, improving transport links between cities, particularly London would go a long way to spread that wealth out.
It's SO hard to get a job here (outside of London). It's mainly care home, factory work, or teaching assistant and for minimum wage. It's making me want to relocate outside of the UK
Seriously do it! Eventually there will be a handful of aristocrats and a nation of immigrants. The rest of us are getting what qualifications we can and then heading off to where there's opportunities. There's nothing left here. And when the remaining handful of aristocrats are staring blankly at the Balkanisation that they themselves perpetuated and forced then I'll laugh my ass off! They lost their own nation out of greed and hubris!
@@justonetime6179 Fully remote jobs are on the way out yet are more competitive than ever to the point where it’s not worth it. I’d say if you score a fully remote job then you’d probably have the same chance of winning the Postcode Lottery. Nowadays it’s ‘Hybrid’ with only 1-2 days working from home allowed.
The problem is that there's too many industries in London. In the USA, government is based in Washington, banking is in New York, tech is in Silicon Valley, the party capital is Miami, the film industry is in Hollywood, etc. But in the UK all of those industries are based in the capital. Also, with each American state being running semi-independently from government, they're able to set their own regional laws & taxes. If Yorkshire had the power to set the lowest income tax in the UK, people would move there in the same way that Americans are flocking to Texas due to it's low taxes. Or if the Midlands had the lowest corporation tax, businesses would relocate there from London. Can you imagine how many people would move to Wales if they could set the lowest stamp duty on homes? The UK tech industry should have been set up in one of the old seaside towns, like Skegness, Great Yarmouth, Hastings, etc as a way of reviving their local economies. Silicon Beach sounds way more appealing than the awfully named silicon roundabout in east London. Alas, the UK will never have a forward thinking leader willing to implement the changes necessary to reduce the UK's reliance on London.
Living in the Southwest can be frustrating at times. Sure, lots of people live in the Southeast and the North does need investment, but Cornwall is among the most deprived regions in Western Europe
It still astounds me that Cornwall / Devon voted so strongly in favour of Brexit when it was the area receiving the most money from the EU for projects...
Being a Northerner that lived in Plymouth for years for Uni. I dislike when northerners categorise all southerners together. I feel like the South West is more like us than the rest of the south. Broadly i find the not talking to strangers didnt apply down there either.
@JakeyBaby6 living in the southwest myself, but my dad worked in the North for a few years, I'd rather spend time talking to "Northerners" than anyone from the South East or London, although my strong west country accent makes things more of a challenge 😂
At a guess, closer to friends that also moved to London, closer to talent , closer to 3rd parties of interest (I.e easier for interviews), having a presence in the region where other press / video / entertainment companies are based
Manchester was also the world capital for textiles at one point, they processed the most cotton and had the most advanced equipment to mass produce cheap fabrics.
We have to be careful though the recent gentrification and retail culture emphasise to Birmingham is making hundreds of people homeless, or unable to access temporary accommodation!
Worst part of this personally is being in a low-income household in the South East, you're essentially stuck with no opportunity to leave due to financial limitations of outgoing costs for your area, as well as massive competition for any job openings.
Yup, experiencing this right now in the South East. It’s just all retail, fast food, care home or volunteering work. Any sort of Office/IT job gets eaten up immediately, allowing companies to pay people a miserable £11 an hour for it. Try travelling to London on train and pretty much all your wages will be eaten up by ticket prices. There’s truly no winning.
I remember when they spent billions on facilities for London 2012, stating that everyone would benefit from their use after the games. I live in Aberdeen mate, cant just nip round when I have a free afternoon
The Millenium Dome has got to be one of the worst examples of "London Exceptionalism". One of the sites looking like it was going to get the winning bid was in Birmingham. It was more central to the island, had a motorway junction, a train station AND an airport nearby for people to travel to it. Also already has ample space for people to park nearby. Instead the Lord in charge of the project decides to shove it on some awkward spot in London that if I remember right, needed to have a new tube station built nearby (or at least one altered to deal with the increase in footfall). Maybe the project wouldn't have failed to the point the Dome was sold off if it were more easily accessible and not shoved in the capital because "London".
@@Wasserfeld. London as a whole has those links, but the point was that the Birmingham site had more in closer proximity, and parking didn't require you to drive into the middle of an already congested city. It was also more central to the country so closer for people living in the north. The original Dome failed as visitor numbers were half those needed. Location likely had some blame there. It might not have failed if it were more easily accessible to more of the country. Its a success now after being sold to a private entity and turned into an entertainment venue. It might have been a success regardless if it were elsewhere... but we can only speculate.
They spent £50 billion doing London Olympic new Stratford city.. worth every penny compared to old Stratford which is still there but a shite hole. Sadly they don’t care about places outside London to help it work, but I guess it’s also down to a massive difference in footfall. In one case they could bank on just build it and they will come
I'd suggest that what you really have is a city that has pulled the wealth from the rest of the country using the government to do so. They talk about how "productive" London is. What does it actually produce?
@@nathanahubbard1975 It's the same thing here in Finland. Helsinki (capital region) does not produce much but most of all company headquarters are located there and they pay their taxes there as well. For this purpose the capital region has set the corporate tax low so the companies would naturally want to set their HQ there. This is how Helsinki remains the top dog. This is despite most of the factories, sawmills, mines and so on being spread out all over the country.
In Australia, where I live, despite the challenges we face economically, we don’t have an over reliance on Sydney like the UK has with London. This is also why I’m glad Sydney was not chosen to be the national capital. There’s plenty of opportunity in other cities across Australia like Melbourne, Brisbane and Perth. So the growth is spread out. In fact if you look at the population gap between Sydney and Melbourne, it’s much tighter than that between London and Birmingham.
Worst part is that the Londoners with higher pays move to Bristol or Manchester working remotely, inflating housing prices and further fucking the situation up.
@@Alexander-yb1zc The good thing about living in Bristol, but working in London, is that at least you will be spending money in Bristol when you are at home. This will help local businesses and people, who will then be (very slightly) better able to afford local housing.
This is actually better for the area in the long term as long as they spend money at local businesses, the housing prices being inflated is more likely due to the lack of housing and big corps buying up huge amount of housing to rent out.
As a Russian, we have the same problem with Moscow and Saint-Petersburg. Putin has built hypercentralized model, where all key decisions are passed in the Kremlin. Moscow has a quality of life like in the West, meanwhile, the rest of the country looks like Latin America or Africa. We definitely need more powerful local and regional governments to make them compete against each other for investments and development.
Africa and Latin America are large areas, and more than a few contain probably higher gdp than those parts of Russia you’re on about. You also seem to think everywhere in the west is doing great, which clearly isn’t the truth as described in this video using the uk as an example. Best not to generalise, pal.
@riversguy92 nowhere does the Russian man state that all of africa/SA is poorer than those non Metropolitan areas of Russia though. You're putting words into his mouth. Take your frustration out on someone else.
Российская Федерация (РФ) на самом деле империя, ориентированная на Москву. Россия в заложниках у Москвы - Москва является центром управления преступным режимом.
@riversguy92 I'd much rather live in a poor area in the UK than a poor area in Russia and south america and Africa.... by and large the west is still pretty good Let's not lose our perspective, pal
But one thing to note. Most people who work in London aren't richer. They earn more but their costs are way higher. A 1 bedroom flat 1 hour away from central London still costs £1500-£2000 a month
Advance feudalism, the idea is to concentrate power and force dependence. London is a city state, the rest are subjects. It’s so well devised “the mob” isn’t a factor here like it was in Rome.
@@thesenate1844 the ULEZ extends past the London area into surrounding counties, meaning that people who are not living in London, or even Greater London and under a different constituency and county are still having to fund London in order to drive their own car in their own county.
I'd take issue with the idea that investment outside of London would be "obviously" less efficient than continuing to pile everything into London. In terms of Infrastructure, there's a whole lot of smaller projects across the UK that could remove barriers to growth, that never get built. Look at transport- rather than an investment of Billions in buying property and tunnelling through some of the most expensive property in the country to build another Elizabeth line for London, spending a few million on new trains and more staff for rail in the North of England, or Wales, or Scotland, could provide a much bigger increase in service for people who currently have to rely on a couple of ancient, overcrowded 2-car units that turn up if you're lucky. Small investments outside of London could give big improvements and unlock a lot of growth, but London -based media, government and corporates are too blinded by chasing existing success, and an inability to look beyond the M25.
You are right. And for another reason also, as was noted early on in the piece, the UK has an 'over-qualification' crisis outside of London; lots of graduates with good degrees doing jobs where the required skills are below their actual skill / education level. That is huge potential reserve of productivity growth. Investing and creating good jobs outside of London could allow thousands of graduates to start contributing economically in line with their full skill level.
@@TheReferrer72the rest of the uk would probably be able to pay for itself if London hadn’t hoarded all of the budget, resources, opportunities and talent to itself.
why it just makes sense to leave this country, the inequality between cities is ridiculous and London is eating it all up. Im on a pretty decent salary but had to move out of Bristol to a town due to rising cost. Bristol has NOTHING for living costs to be expensive besides the fact its easy to catch a train into london
Even London's "economy" is not legit. It steals the money from oversea islands. London eats up both UK and oversea islands. Then, you see London's situation, and you understand that even that money is not going to London, someone's pockets.
The world will be much more better and filled with more rich people if only everyone has the mindset of investing in their future, not thinking of how to fill their stomach presently. Having a mindset of growing money rather than spending or saving it, is the beginning of gaining financial freedom
Exactly, if only I had this mindset from my early years I would have made something much more better with my life wasting so much time on settling for little pay cheque and saving up wasn’t helpful to me financially, because I kept settling bills and ended up not saving, which kept me to work harder even at old age
Thanks for this insight, I’ve always been scared of getting into an investment because of how difficult the economy is and how much money I need to sort out bills and also on groceries. I’ll have to consider investing more than thinking about what I get presently
Two possible key contributors to the current situation: The decimation of manufacturing by successive gov'ts (Thatcher and Blair/Brown are primary culprits that spring to mind). The devaluing of physical trades and the associated shift to ever increasing numbers pursuing academic higher education (university) rather than vocational (trade apprenticeships & old polytechnic type courses). Is it over qualification or, pursuit of the wrong qualification being encouraged by greedy universities? Over qualification might apply for someone working in a supermarket (I've done that, it's a not a picnic) or in a call centre (done this too, mixed experiences), but an inappropriate degree is unlikely to be of much help in the manufacturing/building/construction industries etc.
This is why Cross rail and hs2 is so critical to the government. Housing is so expensive that soon it won’t be economically viable to live and work in London. We need to keep expanding the commuter belt or the bubble will pop
Nah, London would take a page out of Hong Kong's book and make cage-style homes. That, or the old work factory homes make a comeback. The poor will find dwelling in London, because London needs an underclass to sweep the streets.
Instead of building HS2 and Crossrail they could build prefabricated council flats for extended lease like 10 years but Tories didn't want housing bubble to burst 😑
@@SaintGerbilUK, you know that capacity problems were the greatest in London so that's why they started there first?? I think people forgot that London has 8 million people instead of 1 or 2 like other cities in England or even Europe for that matter for decades.
@@inbb510 yes the problem is that London is congested, and if the North was better connected then it would be a more viable option for businesses and people. Making it easier to get into London makes it more congested and concentrates businesses more than now.
It is to be expected, 46 of the last 58 prime-ministers come from London. Including starmer. They do not understand the struggles of the north West. They've not been to a council estate in Bolton, Leeds or Nwecastle. They only see the city centres of Manchester or York. They neglect the North of England, Wales, Scotland and Northern Ireland. London has forgotten its heritage. Yet receives more investments then other UK cities combined. It is unfair.
I feel a lot of the support for scottish nationalism is not so much a dislike of England, but a feeling distant and forgotten by a London political elite...exactly how much of England feels. I think people in England outside of London/South East have more in common with the Scots than they do people living in London.
As someone who fully works from home with a head office in London (I’ve never visited it), I would suggest that lots of talented people are happy not moving to London or concerned about buying overpriced small properties in the capital city. When opportunity presents itself businesses are too afraid to move away and into other regions.
When manufacturing industry is killed off (thanks, Thatcher!), your country is dependent upon a service exporting economy. Because services usually involve a lot of centralism and corporatism, it is both fashionable and practical to be placed in the capital of a nation. This means most companies will need to be based in London, with many workers commuting in and out of the city to work. This is why many regions in the UK are so poor yet the regional south and central England are thriving. It's not rocket science, it's economics as well as geography (and of course politics, because political decisions make a significant difference - again, thanks Thatcher!)
It has nothing to do with a differentiation between manufacturing and services. Remember that manufacturing also accumulates into centres of trade - in the industrial era of the UK, every modern city had a specialised trade. Birmingham produced high-tech metal products such as g*ns. Staffordshire specialised in pottery. Manchester specialised in spinning cotton. West Yorkshire specialised in fabric manufacturing. South Yorkshire specialised in mining. The south of Wales specialised in coal. And modern day examples are found in countries like Germany, where, for example, wolfsburg is one of the main centres for the car industry. Kyoto in japan specialises in consumer electronics. The main issue is at the decision-making level, where the government has never led by example to push through devolving huge amounts of funding to outside London. We could use the reunification of Germany as a framework - the government there pushed massive amounts of public investment into the east, prompting more private investment and bringing the east closer (but not perfectly in line with) to the west. The Government has to lead the charge to make the country less reliant on london. Until it does that with serious amounts of money over a sustained period to fund infrastructure improvement projects, for example, the problem will just get worse.
Margret Thatcher didn't 'kill British Industry', as it was already in decline long before she became PM, and if anything, industrial production actually increased while she was in power. That's not to say that she didn't have a role to play in the death of British Industry, but rather that it's decline was already set in motion, as far back as the 1950s, and 1960s, such as when the Government forced car companies to open manufacturing sites in stupid places far from their existing operations, or when Clement Atlee tried to nationalise nearly every industry in the 1940s (thankfully he failed).
North east ere was hit hard by industrial decline and never recovered. Tons of space the factories and steel mills were on are still empty not to mention abandoned railway on the existing lines that has potential for a cheap metro system
The problem is that all that money stays in London. And right now, we can't just tax them, because they'll just threaten set up shop elsewhere. We need a worldwide effort to band together and tax wealthy companies fairly, so they can't play us against each other. We tried, and effing Ireland blocked it, together with a couple of other countries perhaps.
When the EU proposed tax reforms that would have required the UK to enforce its tax rules, suddenly the Brexit campaign got a huge amount of funding out of nowhere. Nothing suspicious whatsoever
The UK has significantly less high-speed rail infrastructure than many European countries like France, Germany, and Spain, which have extensive networks.
Even Spain and France don't seem to be so dysfunctional when comparing their capital metro areas with the rest of the country. They have regionally significant cities with healthy economies and valuable economic sectors of their own.
France is very dominated by Paris. There are plenty of areas of France which have depopulated as a result of poor employment prospects. Spain, Germany, Italy are less dominated by a single city
This is why remote work can be so important. If you have young people feeling they can move to "cheaper" areas whilst still earning the larger sums that London corporations offer, the local economies of Northern and Western England can begin to benefit by people spending their money there, and once the money is there, Corporations can be more confident moving whole operations to Northern and Western Cities, and draining the power from London. Add a Government incentive for corps to move to other cities, your Birmingham's, Manchesters, Newcastles, Leeds, Bristols, etc. then you can accelerate that. And finally, build the infrastructure within AND between these cities and the Capital and you start to take the power from London. Another option is to move Politics out of London, set up an "English Parliament" or move the UK Parliament to a more central UK region. Build a new administrative capital, create jobs in that area. Take that power out of the South East and spread it about!
The added frustration to this is that not everyone who's highly educated necessarily wants to go to London. They might want to go to another city like Manchester, Birmingham, Liverpool, fill in the gap. Surely a good way to get wealth spread around a bit more would be to spread Government departments/services more widely. Say for example, some in London, some in Birmingham, some in Cardiff. You get the picture.
At least they fixed it for the graph at 1:12. The one about "ull time emplyees" Quality control on this video was pretty bad, with clear cuts between audio clips and tons of spelling mistakes.
Probelm starts with the fact that political+ business+ Financial centre is London. It gravitates all economic activity with it only to London. Americans have a problem with political center being DC and there are already talks of moving some departments of the executive away to new cities.
It's sad how difficult things have become in the present generation. I was wondering how to utilise some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to use what's left to invest, but I don't really know which way to go.
It's a good idea to seek advice at the moment, unless you're an expert yourself. As someone who runs a service business and sells products on eBay, I can tell you that the economy is struggling and many people are struggling financially.
I agree. Exactly why I now work with one. A lot of folks downplay the role of advisors until being burnt by their emotions, no offense. I remember some years back, during the covid-outbreak, I needed a good boost to stay afloat, hence researched for advisors and thankfully came across one with grit. As of today, my cash reserve has yielded from $350k to nearly $1m
They should start investing in other cities like Liverpool, Manchester, Edinburgh, Glasgow, Leeds, Bristol, Norwich, Sheffield, Birmingham, Hull, Newcastle and Cardiff
The issue is that it feels like 90% of investment goes to London, and 90% of the leftovers goes to Manchester. Both successful cities that require investment to maintain their statuses, but other cities need investment to be able to compete. Not every city is going to be as big or as successful as London and Manchester but if they can't even try then you're going to breed not just resentment but poverty, both mental and physical health issues, and ultimately increasingly regionalist, populist and potentially extremist views. It's a problem that needs to be taken much more seriously than it is at present. I live in Sheffield and it's unbelievable how little investment we get compared to our neighbour just across the pennines.
Historically sheffield is just a mill town, whereas Manchester is not only a mill town but also did alot of the exports and then even more when the ship canal was built. Sheffield is never gna compete with Manchester, it's just had too much of a headstart.
Manchester is not that developed. It is somewhere under the Alabama at GDPPC. Edinburgh is another city that came to prominence other than London, but even that money came from tourism and education.
What always struck me in London is the insane amount of food option available chains are everywhere and people literally are constantly buying. Even in ny I haven’t noticed that many .
It drove me away from London. The London I arrived at in 1996 and left in 2015 was a totally different place. It's now generic and samey everywhere....rampant commercialism, taste and style all dictated by large companies posing as indie outlets. Truly hideous and people's narcissism, fragile egos and need for approval feeds this beast. The antithesis of what it claims to represent (no offence to ordinary residents of London intended).
When will the UK start addressing this imbalance? It's almost like the rest of the country is left fighting for crumbs while London gets all the cake 🍰
As someone who’s lived and worked in London for 20 years It still not worth the cost of living in the capital even given the higher wages and commuting is terrible. Now live in Brighton and so glad we left.
Problem is that London is an international city, not just a city in the UK. It is probably the most culturally significant city in the world and has probably been in the top five most significant cities in the world for hundreds of years. It is difficult to compare London to other places in the UK when it really sits apart from it.
You're right, London is often considered the Financial Capital of the world. Some years it comes 2nd but the reality is London is international compared to the rest of the UK and not really comparable
In my current profession, no one will take you seriously and you cannot expect any major career progress or “levelling up” if you aren’t active on the London scene. This means that nobody invests outside London and the south east because they’re afraid of losing money and status, which just reaffirms and worsens the issue.
Yep, network affects. Something successful started in london, so other people see that success, and say "I wan't some of that". The problem snowballs, until you are where we are today.
In India this was also same problem after independence in 1947 till 2000s only four big cities were there: Delhi, Mumbai, Chennai and Kolkata majority of the country population moved to these four cities for better life but now cities like Bangalore, Hyderabad, Indore, Noida, Gurgaon, Pune, New Mumbai, etc. has emerged as new places for work and living.
let's be honest gurgaon & noida get activity from delhi (satellite cities) and navi mumbai gets it from Mumbai. we need to invest in other cities viz. Surat, Lucknow, Ahmedabad, even Jaipur and Guwahati.
@@sharvapotdar3257 It's not easy to do when many small cities are ruled by religious mobs. no women safety, no infrastructure, air pollution, religious and ethnic conflicts, caste issues.
I want Britain 🇬🇧 to think about more about aging population, elderly care, not breaking up the family unit, thinking about families more, children, loneliness and communities more.
Manchester at least though is growing faster than the national average however. If you come here then city is absolutely transformed with cranes everywhere and property prices rising faster than London too. The same is true to a degree of Birmingham and Leeds, but they're held back largely due to an allergy to government transport spending, or moving high quality public sector jobs here. Governments see large Urban centres as not being the 'real north', ie because there's no swing seats here. But a lot could be achieved without spending, simply by house building. If those cities could rise to populations of closer to 4 million national productivity would improve massively.
That's possible but serious transport infrastructure spending would be required. Metrolink and the Castlefield corridor won't cope with four million people, it barely manages with the population Manchester already has.
One of the EU's priorities is to help poor regions develop. The little that was done to help the poorer regions in the UK was EU-funded. So this is definitely another Brexit "Benefit".
Not that simple unfortunately. I live in one of the poorer regions, and all the EU money went to the wealthier parts. In fact a substantial amount went to the big local universities which a significant proportion of the students were privately educated Southerners, who'd leave for London after graduation. So when you think about it, it's London benefiting from a sizable chunk of northern EU money.
@@StanStanman-o3e Well, Cornwall overwhelmingly voted for brexit, despite getting the most help from the EU of any region i the Uk, which Is just not very smart. I live in Newcastle, and sometimes London, but I plan on leaving the country as soon as possible.
Thing is with all of this is that Westminster is as far removed from people in Poplar as people in Penrith. And being too reliant on London makes things there harder in terms of things like housing. It doesn't help that rail journeys avoiding London are so overcrowded or slow, although East-West Rail will be a good thing, we need other similar projects further north so the Transpennine Express doesn't breach the trade descriptions act. A lot of the time levelling up appeared less about helping the North and more about dragging London down and bashing Sadiq Khan, to make things look more equal.
I'm one of those high earning folk in finance in London. I've semi-joked that if the company ever opened an office up in Newcastle or similar I'd happily move up north and even take a 10% pay cut to live like a king up there. My colleagues also agreed citing the quality of life benefits like less congestion and low crime. The problem is that no one seems interested in doing this at all. No one wants to invest or open an office in the further regions of the country. They live in a bubble and for them civilisation ends at the North Circular Road. As the lucrative six figure jobs don't really exist outside of London we're forced to stay within commuting distance of the capital. One exception is a friend of mine who founded a trading platform startup, they have a branch office up in Newcastle. But that's a really rare example, and only really happened because he's not from the London bubble.
@ Nope, it's based in London, and only serves institutions. Incidentally, one of the other founders, being French, really wanted to have the second office in Paris, but the others pushed back because of the complexity of dealing with a second country's regulations. They chose Newcastle as it was far cheaper to set up in, has plenty of good connectivity with London by rail, air and road, and has plenty of grads and potential software devs who'd prefer living in the city instead of London for various reasons. Not least, the far lower cost of living.
You see so many, arrogant social media commenters say "Nobody cares about anyone outside the M25" Somone even said that HS2 was a complete waste of money, even if completed in full. Because the money would be better spent, improving transport between east and west London! Northern Powerhouse Rail, at a "mare" 0.9 billion? Too expensive, can't afford it.
It’s necessary to setup shop right next to world class lawyers and capital money banking institutions, and insurance firms and global shipping services etc.. so it’s basically easy to get lunch and have meetings together. The infrastructure up north to facilitate this isn’t there, and it just doesn’t work the same way via zoom. So sadly the dream isn’t viable for the biggest players, particularly in finance
Massive decentralisation is what's necesary in the uk. Devolution has been sporadically done, and in most cases half-arsed at that, and important infrastructure projects have been completely London centric, if they've been completed at all! Create properly autonomous regions, that can manage the day to day operations and make decisions that affect only said region. Then a slimmed down central government can focus on what's truly in the national interest, such as large infrastructure projects. If projects like high speed rail are done right, fro example, it could have enormous benefits country-over, and not just for London. But a complete restructuring of the country is necessary, as the current set up only really benefits (the wealthier individuals of) London and environs.
@@davidbodor1762 They love it because the City is the best place in the world to launder their money. The City of London is entirely geared around facilitating the greedy hide their ill-gotten gains.
I use the example of London being a primate city and the UK economy when explaining the benefits of our Federation system of government in Australia. Some people from the SE of our country (i.e. Sydney and Melbourne) advocate for abolishing our state governments and centralising. However, if this were to occur we would end up in a very similar situation to the UK. With our state governments in control of their own funding there has been a more equitable distribution of investment in infrastructure and economic development. Each state takes advantage of their natural advantages to grow their economy. The statistical centre of population has been drifting both West and North for many decades as population growth has over the long term been higher in WA, QLD and NT. Sydney is becoming increasingly expensive and difficult to live in for the average person relative to the other large cities. I cant imagine a situation where more people are crammed in like London. Giving people the opportunity to move elsewhere, have a good career and live good lives has been very beneficial to Australia. This video explains the situation in the UK well.
Seriously what is happening to tldr? Recent videos seem to be skimming over a topic, summarising headlines and no longer looking into causes or solitions. I really hope the quality returns soon.
I was gonna say the same. pretty lazy analysis. First comparing the UK to the US (a country with 7 times the population) and to the Netherlands (with 4 times less) is kind of pointless. Also, you have the same issue in France, the Netherlands, Belgium, Greece, .etc. Basically almost every country has areas that are richer and concentrate economic and political power. Maybe a better analysis would have been the UK versus Spain, Germany and even Italy.
I'll let you know the solution we'll be getting regardless if it works or not..... Tax people as hard as we possibly can and import as many people as will fit on our island. I'm sure things will get better 😂
I think it partly to do with pulbic transport infrastructure, people could afford (time/money wise) outside of London if trains were cheaper and more reliable.
London's average income and GDP may be higher, but costs are MUCH higher. Particularly rent. Unless you or your parents are millionaires, or unless you bought a house before 2008, renting in London wipes out that higher income. 40% of my income goes on renting a small studio flat, which wouldn't be the case elsewhere.
You mean City of London (London 1.0), not Westminster (London 2.0), as 80% of the UK economy is in services, and fintech is the largest industry in the UK.
I would argue as a south easterner, Folkestone so as south east as you can get, we are more productive due to our connections being between London and the rest of Europe. Yes we have a lot more higher paying jobs but the costs accommodate that added extra and some. This isn't too much of an issue if you've secured an above average paying job like a tradesmen or professional but if you work in Tesco, life will be much harder here than if you worked in Tesco in Yorkshire. Our rents are higher and our food prices are generally higher, but minimum wage is national, so those at the bottom of the rung down here struggle the most. There's a reason why the southeast also has the largest homeless population. If you look at things in perspective, a house in the southeast will buy you 2 in the north but we share a 12 quid national wage. We aren't all rich, it's just where the rich decide to reside.
Over-reliance on London? . Of course few mention that London was the epicentre and cause of the trillion £ crash to the economy in 2009. The rest of the country filled that gap through austerity that runs on until this day- London picking up none of that rather expensive tab. Not to mention that fact that London uses up - for example - half of the entire national transport infrastructure budget - whilst having only 15% of the population. I'll give you anotherr example from my own business - siting the near £billion Francis Crick biomedical research centre was entirely unnecessary (Cricks Nobel prize work was done in Cambridge) - but was done so anyway --via the hidden guided handof government and particular scientists who live in/near London. This £££billions venture was funded through national taxes - not London taxes. But London is the benfactor - creating more high paying and high value jobs ion London again that were not there prviously. That 'example' - repeated often and many times across London - adds up to a constant topping up of hundred of billions of Uk taxes flowing into London (but not out) - on top of the trillion plus it got to prop its finance industry. This explains all of how London *appears* to be so prosperous and productive. Not some indigenous healthy, robust entrepeneurship - that it like to pretend it always possessed. The truth is the rest of UK doesn't 'need' London. London needs and uses the rest of UK to freeload and to keep on top and grind-down any other pretenders to its throne.
It's that scene from Yes, Minister "The North" where all of the armed services are stationed down south; "you can't ask senior officers to live permanently in the north!".
The 2008 Global Financial Crisis, started in the United States. It was primarily triggered by a collapse in the housing market, fueled by risky lending practices, financial deregulation, and the proliferation of subprime mortgages.
TLDR is based in London, why? With an online market they could have been based anywhere, I can only speculate that the preference is simply because that is where most young educated people either are or want to be. I think no amount of legislation can change this attitude, according it it a problem that will stay and grow.
Part of the problem is that post war protectionism and nationalisation of British industries meant that for a short period of time they employed a huge number of people and produced large amounts however in the long term they became increasingly uncompetitive on the global scale and increasingly more expensive on the taxpayer to fund, so when this protection and nationalisation ended our industries were so helplessly outdated that they could no longer survive at Al and collapsed, and only the financial sector remained truly competitive as it could adapt far more quickly then traditional heavy industry this is why when the industries were de regulated and privatised they collapsed but the city saw the Big Bang erupt instead.
We need to consider severely restrict the increase of jobs in the Home Counties and positively discriminate job creation in those other areas where jobs are scarce but skills and qualifications are extant. Artificial it's true, but we need to engineer such a change. Laissez faire will not suffice!
The average wage in London might be a lot higher than the rest of the UK but how much purchasing power do you have for that money? The company I work for is a multinational with a UK office in Manchester and London and my London colleagues can only afford to rent apartments, whereas I own a house. (I do have a slight age advantage on them but still) I have a feeling that the London bubble is going to burst some time, simply because things like remote work and spiralling housing costs will create a situation where even the kind of middle class office workers can’t afford to live in the city, and also won’t need to. I think we’re in the early stages of that process; hopefully the central government won’t seek to suppress the growth of the UK’s other cities.
The Dutch effect? They're basically saying the UK can't make things because its not poor enough. Get rid of the only thing that actually works and instead invest in expensive energy sources that make it harder to make things. Great plan.
Part of the problem is class inequality. Rendering all "leaseholds" as null and void would be a good start. London is big because it's a capital and that's expected, but you can do away with a lot of the entrenched wealth that makes it feel like the system is designed to keep everybody poor, except for the select few who did nothing to earn it.
Imagine if HS2 wasn't such a big corruption loophole, and if it had been built as originally presented. Just imagine how many people wouldn't be living in London, how many businesses would be moving to other cities, and how many people from London would actually visit other cities, instead of the number of people who never explore out of it (unless it's to go to another country). Tell me guys, would that help with inequality? Politicians are still unsure.
Economic opportunity is delivered by access. Twenty years ago Italy called its high-speed rail network the metropolitana d'Italia - it was linking the country like all of Italy is a metropolitan area. The UK rail strategy is very poor in that the intent is to link every region individually to London. This is the empire model with transport routes radiating from the empire capital. The far better strategy is to consider the islands of Ireland and Great Britian as metropolitan areas and cover them with a roughly rectangular motorway and railway grid. Grid density varies with population density. Ordinary (200 kmh) intercity rail is fine as the aim it to stop every 5 to 10 km - need trains with better acceleration and broaking. To make the grid, build a railway and motorway around the coast of both Islands. Then look at how to modify the road and railway network to make corridors that run N-S and E-W much like the main tube lines in london. Good access across the islands encourages people to live in cheaper places, and businesses to locate in cheaper places as they still have good access to their customers.
I wish everyone would just go away from London like back in the pandemic. Was truly a beautiful time for people who grew up and have their roots in London!
It was the plague rats, escaping london, to their 2nd houses, that spread it around the country. What did BoJo think would happen when they announced earlier in the day, that the last train before lockdown, would leave that evening? Everybody piled on the train, and "escaped to the country"
If we stopped the London weighting of salaries wouldn't that help cool down the difference. Our systems are built on the principle of national companies having to subsidise their London teams using money generated across the UK. For example, why should money made in the North be moved to the capital to prop up the housing market in London?
That would be a good thing, but, it might make things worse in the new commuter areas, if the influx of higj wages, priced the locals, out of the market.
A similar case is South Korea, where Seoul continues to grow and gobble up more wealth, jobs, and investment at the expense of the rest of the country, which is growing much slower or is even stagnant. This forces young people to move to Seoul if they want a shot at a decent paying job, which continues the cycle. I do hope that Ireland doesn't follow a similar path, with an insane share of the population and wealth concentrated in Dublin while the rest of the country languishes. While certain rural counties (especially in the northwest) have fallen behind, at present other cities such as Cork and Galway are still growing quickly and haven't been totally overwhelmed by Dublin. Part of the reason is that Dublin is already so expensive. Cork and Galway are tiny cities and have room to expand their geographic footprint, infrastructure, and urban density dramatically, they just need to keep attracting well-paying jobs (which means, for the most part, to continue attracting foreign multinationals).
Given the uncertain economic conditions and heightened global tensions, I'm considering investing over $800k in stocks. However, I'm uncertain about how to minimise potential risks.
People often overlook the value of financial advisors until they experience the downside of emotional decision-making. I recall a few summers ago, after a difficult divorce, when I needed help reviving my struggling business. I did some research and found a licensed advisor who worked diligently to grow my reserves, even amid inflation. As a result, my reserves grew from $285k to around $720k.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with Melissa Terri Swayne for about 4 years now, and her performance has been consistently impressive.
Thank you so much! This is exactly what I needed right now. I wrote her an email and am waiting for her reply. Hopefully, she responds soon. I plan to start the year on a strong financial note.
Reminder that this was due to to direct government suppression of other cities via legislature, Birmingham in particular had its industry stripped away, infrastructure and gov projects all centralised on London, this wasn’t an accident, it was policy
EDIT : Wrote the comment hastily on my lunch break - have a look at the West Midlands Plan of 1946. A quote from an article describing it. 'In 1946, the Government commissioned the West Midlands Plan, which attempted to constrain Birmingham’s growth - local government was obliged to achieve a target population of 990,000, lower than its actual 1951 population of 1,113,000.'
'The Government wanted Birmingham to shrink.'
so true, and hence why BREXIT happened IMO
@@m0o0n0i0r And that's why we need to figure out how to deal with that. My football (soccer) reform will bring back the football to the fans and the local communities. I work for a Swedish-German banker that knows Gianni Infantino personally. He is originally from Bern but spends a lot of his time in Geneva and Stockholm.
@@m0o0n0i0r With the irony being that the EU actually helped decentralise spending and investment in the UK away from London and into more economically depressed parts of the UK.
@@lindsaycole8409 indeed, i voted leave because uk politicians blamed everything on the EU. Now they do not have that excuse. Voters need to wise up. BTW I was born in leeds, moved to birmingham then moved to the South East, no work for me up north or the midlands you see. Accession back in to the EU would require the UK to adopt the euro and free movement. At least then we can have a clear out of the BOE and parliament if we did rejoin. My personal view, the UK is not good for the EU and visa versa as shown with so many concessions the EU made when we were in.
Why?
I'd like to move to a more affordable area but once you leave London you have less opportunities for work. This is a major issue in the UK. Glad this is being covered.
It's the same problem in Canada. However, Canadians recongize that there are limited jobs outside big cities. When I tell them this is an issue in UK with most jobs being concentrated in London they tell me I'm lying/exaggerating 🙃
It's covered for million times.
It was built this way
Hardly anyone in Britain ever reads history book. The UK is a product of the English aristocracy after taking over Scotland...... What do peasants not understand? 😂
Funny how so many people would like this, but when it comes to building infrastructure to incraese connectivity and opportunities in the UK like HS2, people are so averse to it. So hard to please this UK population nowadays, we just end up spiraling back to the same issues if all we do is keep complaining.
Fewer*
What really is sad is I had this discussion with my dad 15 years ago. My dad used to complain that Blair moved a bunch of public services to the north and that the south east was paying for the rest of the country. I agreed and said that the government should make policies to encourage private industries to create jobs outside the south east, to which my dad said no one is interested in starting a company or investing in anywhere other than London so it would be pointless to try. This lead to a circular argument when I asked how could he expect the people in the north to do anything other than public sector work to which he would still complain the north were free loading. It is sad that I, someone who has never studied economics, could see the issue a decade ago yet our leaders either could not or allowed it to get worse.
The other part though is that didn't they close a load of home office/immigration buildings outside of London at the same time (or at least in the early 2000s)? It essentially forces the asylum seekers etc to be housed in what was already the most populous part of the country. I remember hearing that, but I've never found a list of what places were closed, though it does appear that almost all the immigration parts of the civil service that isn't based at ports or airports are in South London...
The UK Government has been invested in destroying the North of England, from Clement Atlee's 'Town & Country Planning Act 1946', to forcing Birmingham to shrink it's population in 1951 through policies such as the 'Green belt' around the West Midlands, to a de-facto forced closure of coal mines, and a push for ever higher industrial energy prices by effectively banning new construction of electricity power plants, including "green energy" in electricity prices by law, not building enough new electricity production capacity in a decade, and by closing Britain's last coal fired power plant, despite rising electricity prices.
The centralisation of the UK Economy on the South-East of England, and London, has been a deliberate act of all 4 large political parties (Cons., Labour, Liberals (Now Lib. Dems), and Greens) since at least the 1930s, whether they realise/d it, or not, all through the act of a push for Keynsian, and Socialist economic policy, despite the prior successes of the mostly free market in Great Britain.
@@neilbiggs1353Oh really? There’s a big one in Liverpool
@@creativeusername3408 There were a few left, but the version of events I heard said they started off with about 15-18, it's now down to about 7, and the bulk of the processing of asylum seekers happens in London, with the remainder mostly handling regional visa issues. As I've never found an article detailing the closures, it's possibly pub talk, but it feels about right having seen the queues explode in the London office
I got C and Ds in school and almost want to rip my hair out at the state of this society, i should be a little subjugated worker ant for these people, but, I just, can't do it, everything is so, self evidently pathetic even the average "disruptive influence" can see 😂
What is crazy is that people cant see that uplifting the rest of the UK is the best bang for buck investment, having rest of the UK being so far behind we should have relatively easy gains to be made, investing london more than we already do is wasteful because you don't gain as much as spending the equivalent in the rest of the country. Once we've leveled this somewhat we then have cities which can contribute well to each other.
I agree, nobody here seems to have the capacity to comprehend the idea of long-termism anymore and that is frightening
It’s like putting a bell collar on the cat, all the mice knew it’s beneficial but no one wants to do it. The initial years of diverting investments up north will slow down the economy and no politician is willing to risk it.
Where is the evidence for this?
How tho ? You use the word investing very liberally but it sound more like you want to subsidies them.Countries go from been agrarian to industrial and them service based all of these transitions mean more urbanization and concentration,the UK is a small country there isn't much space for two world class metropolis there.
@@mathyeuxsommet3119 Investment in infrastructure, housing and city/town centre projects mainly and nationalisation of natural monopolies. HS2 is a great example of infrastructure spending to benefit the rest of the UK but it's also the best example of how not to do it. We need more affordable housing and just more houses in general, city/town centres are now barren wastelands which need redevelopment to keep up with the times and attract more businesses to come and stay. We also need to start refunding youth centres as well to provide things for teenagers to do to keep them out of trouble and prevent them ending up in lives of crime. Private companies are ripping us off for our utilities which is keeping us poorer, nationalisation is an absolute necessity to stop this. It's not about creating London 2.0, it's about making the rest of the country less poor.
It's honestly so disappointing when you compare our regional "capitals* with similar EU ones - the complete lack of infrastructure connectivity of public transport is so lacking
Meanwhile London keeps getting more unnecessary Underground lines.
It's cronyism.
@GrayDogNowIDKeven in London the connections are shit. East London transport wise is so badly connected compared to central and west London.
just the sheer sight of new york city is enough to make even london look ugly
Isn't Leeds the biggest city in Western Europe *not* to have a Metro system?
Says it all really.
@oscarmccoy9102south London as well - the Tube should have been expanded south as well as the East - goes to show you where the wealth lies
The problem is that even large infrastructure projects like HS2 which was designed to connect the north started by connecting London to the north and then abandoned (for now) providing no benefit to the north and only benefits London.
The same was true of Cross-Rail connecting the south west to London instead better connects east London to west London, with most outside of London improvements abandoned.
😂 yeah that was the problem with HS2 wasn't it?
They should have started building from the North
It's difficult to justify when the government is so cash strapped and projects like cross rail have the highest return on investment due to being in London and the associated crowding
I knew HS2 was a sham project when they started it _from_ London; a project wherein we simply lacked the knowhow, and no attempt was made to figure this out in the north where trial and error would've been far cheaper, and where it's sparsely populated so getting the thing connected would've been easier too.
@@daisyeater21 this is my thoughts, they should have connected the northern cities first IMO.
I work in the academic sector and I have essentially been forced to work for a uni in the south east. There just isn't any money elsewhere. The majority of funding is in what gets called "the golden triangle" of Oxford, Cambridge, and London. I'm from up north and am managing to get away with working remotely. Other than just not wanting to live in the south east, I also just don't want to contribute to the regional inequality. Even if it is only my wage, which isn't much in the grant scheme of things, at least I'm funnelling a bit of that south east money back up here.
It's grim up north.
are you a russian troll bot? - your name suggest it
Smart idea, I hope that keeps on working for you
It's tricky, but I think having knowledge/spirit in the north is helpful as well. I'm not convinced that so much work needs to be done in the South East, though I understand the draw, especially for graduates.
Tbh, most Londoners live paycheck to pay check, even the upper middle class.
In the North you usually make less but you can save a lot more and buy better property for lower cost.
So the technical wealth of the North I would say is higher in terms of real disposable income
For people who are over qualified in their current roles, what was their degree in?
If its not a STEM degree I don't see an issue
This is why the cancelation of phase 2 of hs2 is so annoying, improving transport links between cities, particularly London would go a long way to spread that wealth out.
The Tories cancelled it just out of spite so that Labour couldn't claim any success from the results
The uk government can’t do infrastructure at the average cost for European countries, and this is why it went. They will not address
This is also why Scottish people tried to become independent!
No it wouldn't. It would primarily expand London's commuter zone.
If I have a pound every time I hear someone say UK is too reliant on London. I'll have enough to live in London comfortably
It's SO hard to get a job here (outside of London). It's mainly care home, factory work, or teaching assistant and for minimum wage. It's making me want to relocate outside of the UK
Seriously do it!
Eventually there will be a handful of aristocrats and a nation of immigrants.
The rest of us are getting what qualifications we can and then heading off to where there's opportunities.
There's nothing left here.
And when the remaining handful of aristocrats are staring blankly at the Balkanisation that they themselves perpetuated and forced then I'll laugh my ass off!
They lost their own nation out of greed and hubris!
Remote jobs?
@@justonetime6179 Not that easy
@ true, but it depends on the industry you’re looking to work in. There are more remote IT jobs than finance ones.
@@justonetime6179 Fully remote jobs are on the way out yet are more competitive than ever to the point where it’s not worth it. I’d say if you score a fully remote job then you’d probably have the same chance of winning the Postcode Lottery.
Nowadays it’s ‘Hybrid’ with only 1-2 days working from home allowed.
The problem is that there's too many industries in London. In the USA, government is based in Washington, banking is in New York, tech is in Silicon Valley, the party capital is Miami, the film industry is in Hollywood, etc. But in the UK all of those industries are based in the capital.
Also, with each American state being running semi-independently from government, they're able to set their own regional laws & taxes. If Yorkshire had the power to set the lowest income tax in the UK, people would move there in the same way that Americans are flocking to Texas due to it's low taxes. Or if the Midlands had the lowest corporation tax, businesses would relocate there from London. Can you imagine how many people would move to Wales if they could set the lowest stamp duty on homes?
The UK tech industry should have been set up in one of the old seaside towns, like Skegness, Great Yarmouth, Hastings, etc as a way of reviving their local economies. Silicon Beach sounds way more appealing than the awfully named silicon roundabout in east London.
Alas, the UK will never have a forward thinking leader willing to implement the changes necessary to reduce the UK's reliance on London.
Yes. The UK tech industry is a joke. 🤣
I am that forward thinking leader currently working on creating a new party in which one of the main policies is to reduce reliance on London.
@@wongrichx It's one of only three Tech sectors in the world with a trillion+ dollar valuation.
@@aaroneus5479 Dominic is that you?
@andrijapfc lmao, no
Living in the Southwest can be frustrating at times. Sure, lots of people live in the Southeast and the North does need investment, but Cornwall is among the most deprived regions in Western Europe
It still astounds me that Cornwall / Devon voted so strongly in favour of Brexit when it was the area receiving the most money from the EU for projects...
Being a Northerner that lived in Plymouth for years for Uni. I dislike when northerners categorise all southerners together. I feel like the South West is more like us than the rest of the south. Broadly i find the not talking to strangers didnt apply down there either.
@JakeyBaby6 living in the southwest myself, but my dad worked in the North for a few years, I'd rather spend time talking to "Northerners" than anyone from the South East or London, although my strong west country accent makes things more of a challenge 😂
@@mattbeard3083 Caus the people who live there aren't from there.
@@mattbeard3083 Oh 100%. I struggle with some South West accents, I find North East easier. I'm a Yorkshireman.
Why did TLDR News move their headquarters from Loughborough to London? Would love if you had included that.
At a guess, closer to friends that also moved to London, closer to talent , closer to 3rd parties of interest (I.e easier for interviews), having a presence in the region where other press / video / entertainment companies are based
They completely stripped the other cities of everything they had. Birmingham in particular was a powerhouse once
Manchester was also the world capital for textiles at one point, they processed the most cotton and had the most advanced equipment to mass produce cheap fabrics.
We have to be careful though the recent gentrification and retail culture emphasise to Birmingham is making hundreds of people homeless, or unable to access temporary accommodation!
Worst part of this personally is being in a low-income household in the South East, you're essentially stuck with no opportunity to leave due to financial limitations of outgoing costs for your area, as well as massive competition for any job openings.
Yup, experiencing this right now in the South East. It’s just all retail, fast food, care home or volunteering work. Any sort of Office/IT job gets eaten up immediately, allowing companies to pay people a miserable £11 an hour for it.
Try travelling to London on train and pretty much all your wages will be eaten up by ticket prices. There’s truly no winning.
I remember when they spent billions on facilities for London 2012, stating that everyone would benefit from their use after the games. I live in Aberdeen mate, cant just nip round when I have a free afternoon
You remember when London kept more of its taxes is what you meant!
The Millenium Dome has got to be one of the worst examples of "London Exceptionalism".
One of the sites looking like it was going to get the winning bid was in Birmingham. It was more central to the island, had a motorway junction, a train station AND an airport nearby for people to travel to it. Also already has ample space for people to park nearby.
Instead the Lord in charge of the project decides to shove it on some awkward spot in London that if I remember right, needed to have a new tube station built nearby (or at least one altered to deal with the increase in footfall).
Maybe the project wouldn't have failed to the point the Dome was sold off if it were more easily accessible and not shoved in the capital because "London".
@@Vox_CaseiBut now it's a massive success, no? And the London location has all of those transport things too
@@Wasserfeld. London as a whole has those links, but the point was that the Birmingham site had more in closer proximity, and parking didn't require you to drive into the middle of an already congested city. It was also more central to the country so closer for people living in the north.
The original Dome failed as visitor numbers were half those needed. Location likely had some blame there. It might not have failed if it were more easily accessible to more of the country.
Its a success now after being sold to a private entity and turned into an entertainment venue. It might have been a success regardless if it were elsewhere... but we can only speculate.
They spent £50 billion doing London Olympic new Stratford city.. worth every penny compared to old Stratford which is still there but a shite hole.
Sadly they don’t care about places outside London to help it work, but I guess it’s also down to a massive difference in footfall. In one case they could bank on just build it and they will come
The sign of a weak economy, lack of geographical wealth distribution. This is a feature of third world countries
I'd suggest that what you really have is a city that has pulled the wealth from the rest of the country using the government to do so.
They talk about how "productive" London is. What does it actually produce?
This 👏
@@nathanahubbard1975 banking and legal services lol
@@nathanahubbard1975 the worlds biggest money laundering operation for one
@@nathanahubbard1975 It's the same thing here in Finland. Helsinki (capital region) does not produce much but most of all company headquarters are located there and they pay their taxes there as well. For this purpose the capital region has set the corporate tax low so the companies would naturally want to set their HQ there. This is how Helsinki remains the top dog. This is despite most of the factories, sawmills, mines and so on being spread out all over the country.
In Australia, where I live, despite the challenges we face economically, we don’t have an over reliance on Sydney like the UK has with London. This is also why I’m glad Sydney was not chosen to be the national capital.
There’s plenty of opportunity in other cities across Australia like Melbourne, Brisbane and Perth. So the growth is spread out.
In fact if you look at the population gap between Sydney and Melbourne, it’s much tighter than that between London and Birmingham.
0:12
North easy
I didn't know we had an easy mode, I need to adjust my settings
Error 404: Zero Investments Found. Please try again later or contact your government.
So what's the difficulty? Normal? Hard? Don't tell me its hell mode?
Right after the viewers complaints video too 😅
as a north easier, it aint easy
North Easy citizen here 🙋🏼♂️
Worst part is that the Londoners with higher pays move to Bristol or Manchester working remotely, inflating housing prices and further fucking the situation up.
As someone who was living and working in Bristol then moved to London because if I'm paying the same amount but getting a London wage this hits hard.
@@Alexander-yb1zc The good thing about living in Bristol, but working in London, is that at least you will be spending money in Bristol when you are at home. This will help local businesses and people, who will then be (very slightly) better able to afford local housing.
That kind of thing would actually fix this problem though, at least if there's enough of the UK those people can move to
This is actually better for the area in the long term as long as they spend money at local businesses, the housing prices being inflated is more likely due to the lack of housing and big corps buying up huge amount of housing to rent out.
@solsunman383 I'm not native to Bristol so that doesn't matter to me
As a Russian, we have the same problem with Moscow and Saint-Petersburg. Putin has built hypercentralized model, where all key decisions are passed in the Kremlin. Moscow has a quality of life like in the West, meanwhile, the rest of the country looks like Latin America or Africa. We definitely need more powerful local and regional governments to make them compete against each other for investments and development.
Interesting!
Africa and Latin America are large areas, and more than a few contain probably higher gdp than those parts of Russia you’re on about. You also seem to think everywhere in the west is doing great, which clearly isn’t the truth as described in this video using the uk as an example. Best not to generalise, pal.
@riversguy92 nowhere does the Russian man state that all of africa/SA is poorer than those non Metropolitan areas of Russia though. You're putting words into his mouth. Take your frustration out on someone else.
Российская Федерация (РФ) на самом деле империя, ориентированная на Москву.
Россия в заложниках у Москвы - Москва является центром управления преступным режимом.
@riversguy92 I'd much rather live in a poor area in the UK than a poor area in Russia and south america and Africa.... by and large the west is still pretty good
Let's not lose our perspective, pal
But one thing to note. Most people who work in London aren't richer. They earn more but their costs are way higher. A 1 bedroom flat 1 hour away from central London still costs £1500-£2000 a month
London feels almost like a separate country
Advance feudalism, the idea is to concentrate power and force dependence. London is a city state, the rest are subjects. It’s so well devised “the mob” isn’t a factor here like it was in Rome.
@@ahmaddeeni things like ULEZ are a great example of this where even areas which are not London are forced to pay for London.
@@SaintGerbilUKwtf does ULEZ have to do with this? The only reason its viable is that London is the only city with a functioning metro system
@@thesenate1844 the ULEZ extends past the London area into surrounding counties, meaning that people who are not living in London, or even Greater London and under a different constituency and county are still having to fund London in order to drive their own car in their own county.
I see what they did there. They want to be a western version of Russia.
@@thesenate1844 Built by the private sector, until it was seized by the state.
I'd take issue with the idea that investment outside of London would be "obviously" less efficient than continuing to pile everything into London. In terms of Infrastructure, there's a whole lot of smaller projects across the UK that could remove barriers to growth, that never get built.
Look at transport- rather than an investment of Billions in buying property and tunnelling through some of the most expensive property in the country to build another Elizabeth line for London, spending a few million on new trains and more staff for rail in the North of England, or Wales, or Scotland, could provide a much bigger increase in service for people who currently have to rely on a couple of ancient, overcrowded 2-car units that turn up if you're lucky.
Small investments outside of London could give big improvements and unlock a lot of growth, but London -based media, government and corporates are too blinded by chasing existing success, and an inability to look beyond the M25.
You are right. And for another reason also, as was noted early on in the piece, the UK has an 'over-qualification' crisis outside of London; lots of graduates with good degrees doing jobs where the required skills are below their actual skill / education level. That is huge potential reserve of productivity growth. Investing and creating good jobs outside of London could allow thousands of graduates to start contributing economically in line with their full skill level.
To paraphrase/sum up a really shit movie ‘London eats up everything’
I see what you did there
London pays for the rest of the UK.
Mortal engines?!? If so the books of it are great
@@TheReferrer72steal and then give back
@@TheReferrer72the rest of the uk would probably be able to pay for itself if London hadn’t hoarded all of the budget, resources, opportunities and talent to itself.
why it just makes sense to leave this country, the inequality between cities is ridiculous and London is eating it all up. Im on a pretty decent salary but had to move out of Bristol to a town due to rising cost. Bristol has NOTHING for living costs to be expensive besides the fact its easy to catch a train into london
Even London's "economy" is not legit. It steals the money from oversea islands. London eats up both UK and oversea islands. Then, you see London's situation, and you understand that even that money is not going to London, someone's pockets.
The transport infrastructure is terrible. No access to affordable transport between cities
The world will be much more better and filled with more rich people if only everyone has the mindset of investing in their future, not thinking of how to fill their stomach presently. Having a mindset of growing money rather than spending or saving it, is the beginning of gaining financial freedom
Exactly, if only I had this mindset from my early years I would have made something much more better with my life wasting so much time on settling for little pay cheque and saving up wasn’t helpful to me financially, because I kept settling bills and ended up not saving, which kept me to work harder even at old age
Thanks for this insight, I’ve always been scared of getting into an investment because of how difficult the economy is and how much money I need to sort out bills and also on groceries. I’ll have to consider investing more than thinking about what I get presently
Please what kind of investment can I go into that will help me grow my financial portfolio? It’s not easy making money this days from manual jobs
Well I’ll suggest going into stocks or rather forex trade 👌
I for one prefer stock trading and other investments being it cryptocurrency trades or forex trade, you can start with that for a change
Interestingly London is one of the few places I can't get a job as a naval architect. All the still functioning docks are in poorer areas...
Two possible key contributors to the current situation:
The decimation of manufacturing by successive gov'ts (Thatcher and Blair/Brown are primary culprits that spring to mind).
The devaluing of physical trades and the associated shift to ever increasing numbers pursuing academic higher education (university) rather than vocational (trade apprenticeships & old polytechnic type courses).
Is it over qualification or, pursuit of the wrong qualification being encouraged by greedy universities? Over qualification might apply for someone working in a supermarket (I've done that, it's a not a picnic) or in a call centre (done this too, mixed experiences), but an inappropriate degree is unlikely to be of much help in the manufacturing/building/construction industries etc.
This is why Cross rail and hs2 is so critical to the government. Housing is so expensive that soon it won’t be economically viable to live and work in London. We need to keep expanding the commuter belt or the bubble will pop
Nah, London would take a page out of Hong Kong's book and make cage-style homes. That, or the old work factory homes make a comeback. The poor will find dwelling in London, because London needs an underclass to sweep the streets.
Instead of building HS2 and Crossrail they could build prefabricated council flats for extended lease like 10 years but Tories didn't want housing bubble to burst 😑
@@sackville_bagginsess if they wanted HS2 and Cross-rail to benefit those outside of London they would have started there but they started in London.
@@SaintGerbilUK, you know that capacity problems were the greatest in London so that's why they started there first??
I think people forgot that London has 8 million people instead of 1 or 2 like other cities in England or even Europe for that matter for decades.
@@inbb510 yes the problem is that London is congested, and if the North was better connected then it would be a more viable option for businesses and people.
Making it easier to get into London makes it more congested and concentrates businesses more than now.
It is to be expected, 46 of the last 58 prime-ministers come from London. Including starmer. They do not understand the struggles of the north West. They've not been to a council estate in Bolton, Leeds or Nwecastle. They only see the city centres of Manchester or York. They neglect the North of England, Wales, Scotland and Northern Ireland. London has forgotten its heritage. Yet receives more investments then other UK cities combined. It is unfair.
I feel a lot of the support for scottish nationalism is not so much a dislike of England, but a feeling distant and forgotten by a London political elite...exactly how much of England feels.
I think people in England outside of London/South East have more in common with the Scots than they do people living in London.
@@Nick-io9uk because of anti-black and anti-immigrant sentiment you’re probably right.
As someone who fully works from home with a head office in London (I’ve never visited it), I would suggest that lots of talented people are happy not moving to London or concerned about buying overpriced small properties in the capital city. When opportunity presents itself businesses are too afraid to move away and into other regions.
When manufacturing industry is killed off (thanks, Thatcher!), your country is dependent upon a service exporting economy. Because services usually involve a lot of centralism and corporatism, it is both fashionable and practical to be placed in the capital of a nation. This means most companies will need to be based in London, with many workers commuting in and out of the city to work. This is why many regions in the UK are so poor yet the regional south and central England are thriving. It's not rocket science, it's economics as well as geography (and of course politics, because political decisions make a significant difference - again, thanks Thatcher!)
It has nothing to do with a differentiation between manufacturing and services. Remember that manufacturing also accumulates into centres of trade - in the industrial era of the UK, every modern city had a specialised trade.
Birmingham produced high-tech metal products such as g*ns. Staffordshire specialised in pottery. Manchester specialised in spinning cotton. West Yorkshire specialised in fabric manufacturing. South Yorkshire specialised in mining. The south of Wales specialised in coal.
And modern day examples are found in countries like Germany, where, for example, wolfsburg is one of the main centres for the car industry. Kyoto in japan specialises in consumer electronics.
The main issue is at the decision-making level, where the government has never led by example to push through devolving huge amounts of funding to outside London. We could use the reunification of Germany as a framework - the government there pushed massive amounts of public investment into the east, prompting more private investment and bringing the east closer (but not perfectly in line with) to the west.
The Government has to lead the charge to make the country less reliant on london. Until it does that with serious amounts of money over a sustained period to fund infrastructure improvement projects, for example, the problem will just get worse.
Margret Thatcher didn't 'kill British Industry', as it was already in decline long before she became PM, and if anything, industrial production actually increased while she was in power.
That's not to say that she didn't have a role to play in the death of British Industry, but rather that it's decline was already set in motion, as far back as the 1950s, and 1960s, such as when the Government forced car companies to open manufacturing sites in stupid places far from their existing operations, or when Clement Atlee tried to nationalise nearly every industry in the 1940s (thankfully he failed).
North east ere was hit hard by industrial decline and never recovered. Tons of space the factories and steel mills were on are still empty not to mention abandoned railway on the existing lines that has potential for a cheap metro system
A war criminal killed the whole country.
The problem is that all that money stays in London. And right now, we can't just tax them, because they'll just threaten set up shop elsewhere.
We need a worldwide effort to band together and tax wealthy companies fairly, so they can't play us against each other.
We tried, and effing Ireland blocked it, together with a couple of other countries perhaps.
When the EU proposed tax reforms that would have required the UK to enforce its tax rules, suddenly the Brexit campaign got a huge amount of funding out of nowhere. Nothing suspicious whatsoever
The UK has significantly less high-speed rail infrastructure than many European countries like France, Germany, and Spain, which have extensive networks.
Even Spain and France don't seem to be so dysfunctional when comparing their capital metro areas with the rest of the country. They have regionally significant cities with healthy economies and valuable economic sectors of their own.
France is very dominated by Paris. There are plenty of areas of France which have depopulated as a result of poor employment prospects. Spain, Germany, Italy are less dominated by a single city
This is why remote work can be so important. If you have young people feeling they can move to "cheaper" areas whilst still earning the larger sums that London corporations offer, the local economies of Northern and Western England can begin to benefit by people spending their money there, and once the money is there, Corporations can be more confident moving whole operations to Northern and Western Cities, and draining the power from London.
Add a Government incentive for corps to move to other cities, your Birmingham's, Manchesters, Newcastles, Leeds, Bristols, etc. then you can accelerate that.
And finally, build the infrastructure within AND between these cities and the Capital and you start to take the power from London.
Another option is to move Politics out of London, set up an "English Parliament" or move the UK Parliament to a more central UK region. Build a new administrative capital, create jobs in that area. Take that power out of the South East and spread it about!
Stick Parliament in Stoke, and see how quickly policies change.
remote means companies can outsource to other countries too like India, Philippines where a large number of people speak in fluent English.
@@AsokaTw-mz3lr not necessarily, remote doesn't necessarily mean international.
The added frustration to this is that not everyone who's highly educated necessarily wants to go to London. They might want to go to another city like Manchester, Birmingham, Liverpool, fill in the gap.
Surely a good way to get wealth spread around a bit more would be to spread Government departments/services more widely. Say for example, some in London, some in Birmingham, some in Cardiff. You get the picture.
This is the same thing that happened in south Korea and we aren't learning from their mistakes.
I mean it’s been the case with London before South Korea existed
"We need to level up the north" builds a 100 billion pound train from the midlands to london.
HS2 would’ve gone up to the north, which would give more job opportunities in the north. Was cancelled though
Levelling up meant to bring every area in line with London.
That includes wage levels and standard of living.
how is that going??
The word "up" was just a typo.
I Love that the first graph says 'North Easy' instead of 'East'
At least they fixed it for the graph at 1:12.
The one about "ull time emplyees"
Quality control on this video was pretty bad, with clear cuts between audio clips and tons of spelling mistakes.
Probelm starts with the fact that political+ business+ Financial centre is London. It gravitates all economic activity with it only to London.
Americans have a problem with political center being DC and there are already talks of moving some departments of the executive away to new cities.
It's sad how difficult things have become in the present generation. I was wondering how to utilise some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to use what's left to invest, but I don't really know which way to go.
It's a good idea to seek advice at the moment, unless you're an expert yourself. As someone who runs a service business and sells products on eBay, I can tell you that the economy is struggling and many people are struggling financially.
I agree. Exactly why I now work with one. A lot of folks downplay the role of advisors until being burnt by their emotions, no offense. I remember some years back, during the covid-outbreak, I needed a good boost to stay afloat, hence researched for advisors and thankfully came across one with grit. As of today, my cash reserve has yielded from $350k to nearly $1m
How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings
Actually its a Lady. Yes my go to person is a ‘Jessica Dawn Walters'. So easy and compassionate Lady. You should take a look at her work.
I just Googled her name and her website came up right away. It looks interesting so far. I sent her an email and i hope she responds soon. Thanks
Thanks!
They should start investing in other cities like Liverpool, Manchester, Edinburgh, Glasgow, Leeds, Bristol, Norwich, Sheffield, Birmingham, Hull, Newcastle and Cardiff
The issue is that it feels like 90% of investment goes to London, and 90% of the leftovers goes to Manchester.
Both successful cities that require investment to maintain their statuses, but other cities need investment to be able to compete. Not every city is going to be as big or as successful as London and Manchester but if they can't even try then you're going to breed not just resentment but poverty, both mental and physical health issues, and ultimately increasingly regionalist, populist and potentially extremist views.
It's a problem that needs to be taken much more seriously than it is at present. I live in Sheffield and it's unbelievable how little investment we get compared to our neighbour just across the pennines.
Indeed this is a reason why the Reform vote is growing
Historically sheffield is just a mill town, whereas Manchester is not only a mill town but also did alot of the exports and then even more when the ship canal was built.
Sheffield is never gna compete with Manchester, it's just had too much of a headstart.
Manchester is not that developed. It is somewhere under the Alabama at GDPPC. Edinburgh is another city that came to prominence other than London, but even that money came from tourism and education.
Well nothing strange about this, London is basically a money loundry sceme at this point
But everyone calls it as the best city, best international city. You are saying the truth.
When London's economy was overheated the government spent £9 billion on the Olympics in London.
Out of curiosity where is tldr located?
As someone living in Northern Ireland, my london coworkers scoff when I tell them what I earn. Its at least £25k less than them at every level.
What always struck me in London is the insane amount of food option available chains are everywhere and people literally are constantly buying. Even in ny I haven’t noticed that many .
It drove me away from London. The London I arrived at in 1996 and left in 2015 was a totally different place. It's now generic and samey everywhere....rampant commercialism, taste and style all dictated by large companies posing as indie outlets. Truly hideous and people's narcissism, fragile egos and need for approval feeds this beast. The antithesis of what it claims to represent (no offence to ordinary residents of London intended).
When will the UK start addressing this imbalance? It's almost like the rest of the country is left fighting for crumbs while London gets all the cake 🍰
In typical British fashion. We'll talk, debate and argue over it, then do ... nothing.
Bot
As someone who’s lived and worked in London for 20 years It still not worth the cost of living in the capital even given the higher wages and commuting is terrible.
Now live in Brighton and so glad we left.
Short answer: Yes
Long answer: Yes
600k in wealth doesnt really seem like all that much considering what houses are worth in London. Thats like a half paid off mortgage on a town house.
Problem is that London is an international city, not just a city in the UK.
It is probably the most culturally significant city in the world and has probably been in the top five most significant cities in the world for hundreds of years.
It is difficult to compare London to other places in the UK when it really sits apart from it.
You're right, London is often considered the Financial Capital of the world. Some years it comes 2nd but the reality is London is international compared to the rest of the UK and not really comparable
New York is most influential city in the world
@@1987LOZ1987 money passes through us. It makes us look richer than we actually are.
What happened to New York City? Frankfurt? Paris? Are these cities worse than the illegal economy city?
@aegeanone01 NYC granted, but after them London is the most important city on the planet
Historical background would have been nice! What are the reasons for this dependency? Geographical? Cultural? Political?
In my current profession, no one will take you seriously and you cannot expect any major career progress or “levelling up” if you aren’t active on the London scene.
This means that nobody invests outside London and the south east because they’re afraid of losing money and status, which just reaffirms and worsens the issue.
Yep, network affects. Something successful started in london, so other people see that success, and say "I wan't some of that". The problem snowballs, until you are where we are today.
What is your professsion? Isn't london just paperwork, music and ethnic stuff? Thanks
Communicated a lot calmer than I could've done 😂. Glorious! Informative video+. 😊
In India this was also same problem after independence in 1947 till 2000s only four big cities were there: Delhi, Mumbai, Chennai and Kolkata majority of the country population moved to these four cities for better life but now cities like Bangalore, Hyderabad, Indore, Noida, Gurgaon, Pune, New Mumbai, etc. has emerged as new places for work and living.
let's be honest gurgaon & noida get activity from delhi (satellite cities) and navi mumbai gets it from Mumbai. we need to invest in other cities viz. Surat, Lucknow, Ahmedabad, even Jaipur and Guwahati.
@@sharvapotdar3257 It's not easy to do when many small cities are ruled by religious mobs. no women safety, no infrastructure, air pollution, religious and ethnic conflicts, caste issues.
I want Britain 🇬🇧 to think about more about aging population, elderly care, not breaking up the family unit, thinking about families more, children, loneliness and communities more.
Manchester at least though is growing faster than the national average however. If you come here then city is absolutely transformed with cranes everywhere and property prices rising faster than London too. The same is true to a degree of Birmingham and Leeds, but they're held back largely due to an allergy to government transport spending, or moving high quality public sector jobs here. Governments see large Urban centres as not being the 'real north', ie because there's no swing seats here. But a lot could be achieved without spending, simply by house building. If those cities could rise to populations of closer to 4 million national productivity would improve massively.
That's possible but serious transport infrastructure spending would be required. Metrolink and the Castlefield corridor won't cope with four million people, it barely manages with the population Manchester already has.
Johnson had the policy slogan right.
Levelling up should be the biggest political opportinity imaginable.
One of the EU's priorities is to help poor regions develop. The little that was done to help the poorer regions in the UK was EU-funded.
So this is definitely another Brexit "Benefit".
Almost funny except the stupidly affects everyone else too. Brexiteers of wales I’m looking at you (and sadly many more)
Not that simple unfortunately.
I live in one of the poorer regions, and all the EU money went to the wealthier parts. In fact a substantial amount went to the big local universities which a significant proportion of the students were privately educated Southerners, who'd leave for London after graduation. So when you think about it, it's London benefiting from a sizable chunk of northern EU money.
@@StanStanman-o3e Well, Cornwall overwhelmingly voted for brexit, despite getting the most help from the EU of any region i the Uk, which Is just not very smart. I live in Newcastle, and sometimes London, but I plan on leaving the country as soon as possible.
Benefit from the illegal offshore economy, living on benefits..
Brexit is so beneficial for Brits isn't it?
@@AsLostAsAlice which kind of proves a point about what the self-centred do...
Thing is with all of this is that Westminster is as far removed from people in Poplar as people in Penrith. And being too reliant on London makes things there harder in terms of things like housing.
It doesn't help that rail journeys avoiding London are so overcrowded or slow, although East-West Rail will be a good thing, we need other similar projects further north so the Transpennine Express doesn't breach the trade descriptions act.
A lot of the time levelling up appeared less about helping the North and more about dragging London down and bashing Sadiq Khan, to make things look more equal.
I'm one of those high earning folk in finance in London. I've semi-joked that if the company ever opened an office up in Newcastle or similar I'd happily move up north and even take a 10% pay cut to live like a king up there. My colleagues also agreed citing the quality of life benefits like less congestion and low crime.
The problem is that no one seems interested in doing this at all. No one wants to invest or open an office in the further regions of the country. They live in a bubble and for them civilisation ends at the North Circular Road. As the lucrative six figure jobs don't really exist outside of London we're forced to stay within commuting distance of the capital.
One exception is a friend of mine who founded a trading platform startup, they have a branch office up in Newcastle. But that's a really rare example, and only really happened because he's not from the London bubble.
Would the name of that company your friend founded happen to be True Potential?
@ Nope, it's based in London, and only serves institutions. Incidentally, one of the other founders, being French, really wanted to have the second office in Paris, but the others pushed back because of the complexity of dealing with a second country's regulations. They chose Newcastle as it was far cheaper to set up in, has plenty of good connectivity with London by rail, air and road, and has plenty of grads and potential software devs who'd prefer living in the city instead of London for various reasons. Not least, the far lower cost of living.
You see so many, arrogant social media commenters say "Nobody cares about anyone outside the M25"
Somone even said that HS2 was a complete waste of money, even if completed in full. Because the money would be better spent, improving transport between east and west London!
Northern Powerhouse Rail, at a "mare" 0.9 billion? Too expensive, can't afford it.
It’s necessary to setup shop right next to world class lawyers and capital money banking institutions, and insurance firms and global shipping services etc.. so it’s basically easy to get lunch and have meetings together. The infrastructure up north to facilitate this isn’t there, and it just doesn’t work the same way via zoom.
So sadly the dream isn’t viable for the biggest players, particularly in finance
Massive decentralisation is what's necesary in the uk. Devolution has been sporadically done, and in most cases half-arsed at that, and important infrastructure projects have been completely London centric, if they've been completed at all!
Create properly autonomous regions, that can manage the day to day operations and make decisions that affect only said region. Then a slimmed down central government can focus on what's truly in the national interest, such as large infrastructure projects. If projects like high speed rail are done right, fro example, it could have enormous benefits country-over, and not just for London.
But a complete restructuring of the country is necessary, as the current set up only really benefits (the wealthier individuals of) London and environs.
The problem is, that while parliament is in London, the government would be wary of upsetting Londoners, else they'd be voted out.
Literally every Why the UK sucks video: Oligarchs.
Explains why Russian oligarchs loved to go live in the UK. They must've felt right at home.
@@davidbodor1762 They love it because the City is the best place in the world to launder their money. The City of London is entirely geared around facilitating the greedy hide their ill-gotten gains.
I use the example of London being a primate city and the UK economy when explaining the benefits of our Federation system of government in Australia. Some people from the SE of our country (i.e. Sydney and Melbourne) advocate for abolishing our state governments and centralising. However, if this were to occur we would end up in a very similar situation to the UK.
With our state governments in control of their own funding there has been a more equitable distribution of investment in infrastructure and economic development. Each state takes advantage of their natural advantages to grow their economy. The statistical centre of population has been drifting both West and North for many decades as population growth has over the long term been higher in WA, QLD and NT.
Sydney is becoming increasingly expensive and difficult to live in for the average person relative to the other large cities. I cant imagine a situation where more people are crammed in like London. Giving people the opportunity to move elsewhere, have a good career and live good lives has been very beneficial to Australia.
This video explains the situation in the UK well.
0:08 I'm sorry, "pork cannabis sausage"? 😂
Why? Just Why?
@@wilmanman7783Because you put THC free cannabis leaf in something and morons will pay double for it.
The government spends a ridiculous amount in money in London on infrastructure which has a multiplier effect.
Seriously what is happening to tldr? Recent videos seem to be skimming over a topic, summarising headlines and no longer looking into causes or solitions.
I really hope the quality returns soon.
I was gonna say the same. pretty lazy analysis. First comparing the UK to the US (a country with 7 times the population) and to the Netherlands (with 4 times less) is kind of pointless. Also, you have the same issue in France, the Netherlands, Belgium, Greece, .etc. Basically almost every country has areas that are richer and concentrate economic and political power. Maybe a better analysis would have been the UK versus Spain, Germany and even Italy.
I'll let you know the solution we'll be getting regardless if it works or not.....
Tax people as hard as we possibly can and import as many people as will fit on our island.
I'm sure things will get better 😂
@@shanghaidiscovery2664Germany has a completely different political system that the UK and would be an even more unfair comparison
@@rxvvy_ Germany is also much better and richer than uk
Remember "leveling up"?
because we are a service economy, and services only really happen in london. ditto property.
I think it partly to do with pulbic transport infrastructure, people could afford (time/money wise) outside of London if trains were cheaper and more reliable.
London's average income and GDP may be higher, but costs are MUCH higher. Particularly rent. Unless you or your parents are millionaires, or unless you bought a house before 2008, renting in London wipes out that higher income. 40% of my income goes on renting a small studio flat, which wouldn't be the case elsewhere.
Very informative video.
UKs economy is overreilant on London cause TLDR is in London, that's why!
Yeah, it sucks when everything is centralized in 1 city. The same thing happened here in PR 🇵🇷
You mean City of London (London 1.0), not Westminster (London 2.0), as 80% of the UK economy is in services, and fintech is the largest industry in the UK.
I would argue as a south easterner, Folkestone so as south east as you can get, we are more productive due to our connections being between London and the rest of Europe.
Yes we have a lot more higher paying jobs but the costs accommodate that added extra and some. This isn't too much of an issue if you've secured an above average paying job like a tradesmen or professional but if you work in Tesco, life will be much harder here than if you worked in Tesco in Yorkshire. Our rents are higher and our food prices are generally higher, but minimum wage is national, so those at the bottom of the rung down here struggle the most. There's a reason why the southeast also has the largest homeless population.
If you look at things in perspective, a house in the southeast will buy you 2 in the north but we share a 12 quid national wage. We aren't all rich, it's just where the rich decide to reside.
Over-reliance on London? . Of course few mention that London was the epicentre and cause of the trillion £ crash to the economy in 2009. The rest of the country filled that gap through austerity that runs on until this day- London picking up none of that rather expensive tab.
Not to mention that fact that London uses up - for example - half of the entire national transport infrastructure budget - whilst having only 15% of the population.
I'll give you anotherr example from my own business - siting the near £billion Francis Crick biomedical research centre was entirely unnecessary (Cricks Nobel prize work was done in Cambridge) - but was done so anyway --via the hidden guided handof government and particular scientists who live in/near London. This £££billions venture was funded through national taxes - not London taxes. But London is the benfactor - creating more high paying and high value jobs ion London again that were not there prviously.
That 'example' - repeated often and many times across London - adds up to a constant topping up of hundred of billions of Uk taxes flowing into London (but not out) - on top of the trillion plus it got to prop its finance industry. This explains all of how London *appears* to be so prosperous and productive. Not some indigenous healthy, robust entrepeneurship - that it like to pretend it always possessed.
The truth is the rest of UK doesn't 'need' London. London needs and uses the rest of UK to freeload and to keep on top and grind-down any other pretenders to its throne.
It's that scene from Yes, Minister "The North" where all of the armed services are stationed down south; "you can't ask senior officers to live permanently in the north!".
The 2008 Global Financial Crisis, started in the United States. It was primarily triggered by a collapse in the housing market, fueled by risky lending practices, financial deregulation, and the proliferation of subprime mortgages.
I believe Korea has the same issue with Seoul, which the countrys economy largely depends on
TLDR is based in London, why? With an online market they could have been based anywhere, I can only speculate that the preference is simply because that is where most young educated people either are or want to be. I think no amount of legislation can change this attitude, according it it a problem that will stay and grow.
@@cinephileworld9551 it also creates a left wing bias, which they acknowledge they have, and try to avoid but are ultimately failing.
@@SaintGerbilUK not only left wing, but racism too.
Part of the problem is that post war protectionism and nationalisation of British industries meant that for a short period of time they employed a huge number of people and produced large amounts however in the long term they became increasingly uncompetitive on the global scale and increasingly more expensive on the taxpayer to fund, so when this protection and nationalisation ended our industries were so helplessly outdated that they could no longer survive at Al and collapsed, and only the financial sector remained truly competitive as it could adapt far more quickly then traditional heavy industry this is why when the industries were de regulated and privatised they collapsed but the city saw the Big Bang erupt instead.
We need to consider severely restrict the increase of jobs in the Home Counties and positively discriminate job creation in those other areas where jobs are scarce but skills and qualifications are extant. Artificial it's true, but we need to engineer such a change. Laissez faire will not suffice!
The average wage in London might be a lot higher than the rest of the UK but how much purchasing power do you have for that money?
The company I work for is a multinational with a UK office in Manchester and London and my London colleagues can only afford to rent apartments, whereas I own a house. (I do have a slight age advantage on them but still)
I have a feeling that the London bubble is going to burst some time, simply because things like remote work and spiralling housing costs will create a situation where even the kind of middle class office workers can’t afford to live in the city, and also won’t need to. I think we’re in the early stages of that process; hopefully the central government won’t seek to suppress the growth of the UK’s other cities.
The Dutch effect? They're basically saying the UK can't make things because its not poor enough. Get rid of the only thing that actually works and instead invest in expensive energy sources that make it harder to make things. Great plan.
Part of the problem is class inequality. Rendering all "leaseholds" as null and void would be a good start. London is big because it's a capital and that's expected, but you can do away with a lot of the entrenched wealth that makes it feel like the system is designed to keep everybody poor, except for the select few who did nothing to earn it.
Imagine if HS2 wasn't such a big corruption loophole, and if it had been built as originally presented. Just imagine how many people wouldn't be living in London, how many businesses would be moving to other cities, and how many people from London would actually visit other cities, instead of the number of people who never explore out of it (unless it's to go to another country).
Tell me guys, would that help with inequality? Politicians are still unsure.
Economic opportunity is delivered by access. Twenty years ago Italy called its high-speed rail network the metropolitana d'Italia - it was linking the country like all of Italy is a metropolitan area. The UK rail strategy is very poor in that the intent is to link every region individually to London. This is the empire model with transport routes radiating from the empire capital. The far better strategy is to consider the islands of Ireland and Great Britian as metropolitan areas and cover them with a roughly rectangular motorway and railway grid. Grid density varies with population density. Ordinary (200 kmh) intercity rail is fine as the aim it to stop every 5 to 10 km - need trains with better acceleration and broaking. To make the grid, build a railway and motorway around the coast of both Islands. Then look at how to modify the road and railway network to make corridors that run N-S and E-W much like the main tube lines in london. Good access across the islands encourages people to live in cheaper places, and businesses to locate in cheaper places as they still have good access to their customers.
I wish everyone would just go away from London like back in the pandemic. Was truly a beautiful time for people who grew up and have their roots in London!
It was the plague rats, escaping london, to their 2nd houses, that spread it around the country.
What did BoJo think would happen when they announced earlier in the day, that the last train before lockdown, would leave that evening?
Everybody piled on the train, and "escaped to the country"
Agreed tbh
A lot of economic activity that takes place outside London is accounted for in London (pensions/mortgages/savings).
If we stopped the London weighting of salaries wouldn't that help cool down the difference. Our systems are built on the principle of national companies having to subsidise their London teams using money generated across the UK. For example, why should money made in the North be moved to the capital to prop up the housing market in London?
As someone who survives in a US city, that avg weekly wage for London sounds crazy unsustainable
Imagine if there were some high speed trains linking the north, middle of the UK and the south west of the UK to london 😅
That would be a good thing, but, it might make things worse in the new commuter areas, if the influx of higj wages, priced the locals, out of the market.
A similar case is South Korea, where Seoul continues to grow and gobble up more wealth, jobs, and investment at the expense of the rest of the country, which is growing much slower or is even stagnant. This forces young people to move to Seoul if they want a shot at a decent paying job, which continues the cycle.
I do hope that Ireland doesn't follow a similar path, with an insane share of the population and wealth concentrated in Dublin while the rest of the country languishes. While certain rural counties (especially in the northwest) have fallen behind, at present other cities such as Cork and Galway are still growing quickly and haven't been totally overwhelmed by Dublin. Part of the reason is that Dublin is already so expensive.
Cork and Galway are tiny cities and have room to expand their geographic footprint, infrastructure, and urban density dramatically, they just need to keep attracting well-paying jobs (which means, for the most part, to continue attracting foreign multinationals).
Given the uncertain economic conditions and heightened global tensions, I'm considering investing over $800k in stocks. However, I'm uncertain about how to minimise potential risks.
Consider hiring financial advisors or tax experts. They can provide specialised knowledge and help you navigate complex financial decisions.
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That's quite impressive! Can you share more information about your financial advisor?
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with Melissa Terri Swayne for about 4 years now, and her performance has been consistently impressive.
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