I think it is disgusting that she will take my Winter Fuel Payment away, when she just voted to increase her salary from £86K to £100K, plus expenses. They won't suffer, not while the ex-working class can be forced into death.
the tories? they want more and more people to be poor. whether they are brought in, or manufactured here. the Uniparty want a serf class so they can sip champagne watching the global events in comfort.
Above inflation pay rises for doctors, nurses, teachers, armed forces. That's opposition to making the poor poorer. Just because she has cut some projects for which there was no funding doesn't make the poor poorer.
Just days after Sir Keir Starmer was spotted wearing a £500 hoodie from luxury French fashion house Sandro, it has emerged that a peer donated nearly £20,000 to help the Labour leader with a pre-election glow-up. Former ASOS chairman Waheed Alli, who sits in the House of Lords, gave stylish Starmer £16,200 for “work clothing” and a further £2,485 for “multiple pairs of glasses”, according to the latest update to his register of interests. From the Independent
Another squeeze on pensioners, next it will be a tax on savings. What also annoys me about her, is the way she talks it’s a bit like a headmistress talking to her pupils and there are some rubbish head mistresses around.Its all very clipped and we have got this crap for another 5 years.
That is a slur against headteachers. I was a teacher for 25 years. The best head I ever worked with was a woman, the worst a man: even he had the interests of the students in mind. Reeves is a politician so serves no interest save her own.. Please do not put her in the same category as any teacher, current or former.
We could save tens of millions of pounds by only paying MPs the average UK wage, removing their subsidised bars and restaurants, and capping their expenses claims.
It's like we've learnt nothing. There will be no growth without more spending,it's not about balancing books for goodness sake. What a wasted opportunity...
I dunno if you actually listened to her statement? there were maybe two actual cuts in there. The one in the news is means testing the winter fuel payment by thing it to pension credit. The second was to ask departments to find 3% savings, preferably by cutting the use of external consultants. The winter fuel thing isn't great, but it's the only unambiguously bad policy; cutting the vast amount of cash wasted on consultants was something Labour were targeting in the election, as it's basically a mechanism for Tory-aligned triggers to sponge off the civil service. Everything else is either outright good (not selling Natwest shares for well below market value, not giving train operating companies a couple of billion a year in corporate handouts they don't need), good in the sense of solving the budget problem (reducing spending on hotels for migrants by actually processing asylum claims, therefore either deporting them or allowing them into the country where they can get a job to sustain themselves), or an admission that the Emperor has no clothes. Most of the statement was a list of spending commitments that the Tories made but which no or insufficient money had been put towards, and which did not practically exist in the real world but which did exist as a big red number on the budget sheet. I'm not particularly broken up over Rishi Sunak's dead in the water A-Level replacement nobody has ever heard of getting scrapped, nor Hunt's shady investment fund that had no bids for its funding but mysteriously consumed cash anyway. The infrastructure projects getting cut aren't 'real' cuts, there wasn't any substance to those projects in the first place; they were road and rail (and hospital!) projects the last Government authorised and then did nothing with. Cutting them isn't a change in policy, it's just admitting that they don't actually exist. At the same time she's announced a major increase in public sector pay. That doesn't come of as the action of an austerity mad fiend.
@ster2600 that's necessary and welcome, but where's the infrastructure investment? We've gone from hard austerity, to austerity lite. It's an improvement from where we were, but it's still short of what's needed to turn things around
@@ster2600which will actually help growth by putting more money in the economy and the government will get a large proportion back in tax as explained in yesterday's video
She’s gone for the soft underbelly of society. Is this the first example of means testing pensioners by this bunch of numpties. I thought the Labour Party was created to help the working man/woman against such accounting.
I thought the Labour party was created by a class of people at the top who were genuinely scared of the working classes potential to revolt, and whom in response subverted a movement in order to stop this from happening.
THERE WAS NO MANIFESTO! SECRECY LAWS INTRODUCED THAT ARE ILLEGAL IN SCOTLAND! WHAT A FARCE THIS FORCED UNION HAS BEEN!! ENGLAND NEGLECTED ITS END OF THE BARGAIN!!
I don’t mean to be glib, but it was pretty obvious to anyone who gave their attention to the words and actions of Starmer and Reeves over the last 5 years. It wasn’t a secret and this isn’t a surprise. Unfortunately, some people took the view that this Labour government is still better than any Tory government. We’re all going to pay the price for it multiple times over, because they won’t get another swing at it come the next GE.
This will hurt most those working class people who contributed to a modest workplace pension and are receiving a small additional pension that just takes them above the pension credit limit. A disgrace.
I'm one of the few lucky ones who spent the first half of their working life in a final salary scheme; lucky because a strong Trades Union operating in a post entry closed shop system was able to demand it. I have no need of a meaningless bung come the winter. I have no need of free prescriptions either, and would be perfectly happy paying the same as anybody else on regular medication. I have been around long enough to remember Blair's promise that "things can only get better" and then those long years when nothing changed. Starmer is a Blairite, I don't expect any different now.
@nicktecky55 Speak for yourself Many Pensioners are on repeat prescriptions and more than just one item.the cost per item if they had to pay would be £9.90. 🙄
Reeves is the worst chancellor Starmer could have chosen. A traditional ex-BofE economist devoid of progressive policies. She talks about growrh get suppresses it. Inequality stifles growth and targeted investment stimulates it. As a recipient of one of the worst state pensions in Europe, I'm p1ssed that I must give up a winter fuel allowance while energy companies profiteer. Why not increase the windfall tax on them?
It’s ridiculous how much the energy company’s are making in profits whirl pensioners can hardly pay for heating with their extortionate costs, the standing charge is utterly disgusting. It’s more than the fuel I dare to actually use.
@garethwilliams4467 uk taxpayers are subsidizing all this so called green energy in windmills and solar farms. We help foot the bill for equipment and installation costs and then any energy from them goes straight onto the open market and we get to pay again. We are being shafted by these companies their owners but worse of all our politicians who could insist we get a portion of energy for free in return for the money we’re handing over. Also highlights if it’s all so wonderful then they should be spending their own money should the companies and not leeching off the taxpayers with the private public partnership schemes, they’re a rebranded pfi.
We have all known the Labour government was coming for a while now. Many of the public were begging for it thinking things cannot be any worse. As I am such an optimist I always replied just wait and see as this can always be worse. Well here it is getting worse already.
Both Star mer and Sun ak are WEF puppets, as are those under them. They have a de pop agenda, compromised immune systems, after the you know what, are easy to finish off when the winter cold weather comes. Then their job is complete
@@nitsujism it’s also short term thinking. Let’s not build new hospitals now let’s do it in 5 or 19 years when they will be even more expensive. But only time will tell if this is the right thing for us commoners or will they tax us more while letting the super wealthy continue to grow their wealth.
@@nitsujismYes typical labour, hit the pensioner's pocket ( Brown's 75p a week springs to mind) Then start raising taxes for everyone. Different faces, same old labour!
I understand that the State Pension is a "Benefit" but, with just over 49 years of full National Insurance contributions and less than 6 months away from being able to claim my State Pension, it is now under threat. I work hard and I save but I'm not wealthy. Now labour will give it away to people who don't and to people who shouldn't even be in this country at all!
@@apiscator444 Get you facts right. It is unfortunately classed as a benefit which is why the government can take it away, just like the Winter Fuel Allowance. What you paid in NI contributions has been paying current pensioners. There is no pension pot with your name on it.
I will lose Pension Credit shortly as my son (19) finishes his apprenticeship. I am 74, disabled and unable to get health care without going private which I cannot afford. My only income will be state pension of just under £11,000. Why am I paying taxation of over £2,300? (Council tax, car fuel duty, VAT on many things plus parking permit, tv licence etc.) Now Labour are going to take my heating allowance. Who voted for this?
stop foreign aid ,stop giving money away , stop MP,S CLAIMING HEATING ON EXPENCES , STOP THE WESTMINSTER SUBSIDISED FOOD AND DRINK IN THERE ,WE CANT AFFORD TO FEED THE PIGGYS ANYMORE , GET YOUR SNOUTS OUT THE TROUGH
I am 76 and what you posted is what i have heard from the first election from when i was born. For some years people have posted here on social media. Now you can see it does no good and action is the only way.
You say stop foreign aid but the money should be used to help poorer countries and keep them stable.the cutting of foreign aid will more likely lead to more asylum seekers which I assume you are also against.
C'mon Rachel stop taking the money from an easy target ie pensioners and disabled and have more guts and take from the Bankers and Big Business bosses bonuses for doing a poor job. Disgraceful Rachel and Labour. We need a Chancellor with more guts and vision for this Country and this is not Rachel.
@@Banjo2030 Because defence is the primary mission of any government and it is too small anyway. Cut foreign aid first (although help should be provided through things like hospital ships where you can actually see the benefits of your expenditure without it being syphoned off out of sight.)
@@Banjo2030Do you keep an eye on international affairs ? It may come as some surprise to you to learn, there is a full scale bloody war being fought by a clone of Herr Hitler. Insufficient investment was made in defense in the 1930's and look what that did for our father's and grandfather's generations. Defense expenditure is like having house insurance, rather silly not to have. So many young naive people nowadays.
@@stephfoxwell4620It's not the "migrants" that are the problem. (Not that all you racists cared: you were applauding the Tories propping up the State finances of Rwanda, just to get rid of about three of them! 😂)
@@stephfoxwell4620 Irregular migration has zero to do with the financial problems of our country, our problems are caused by the increase in wealth inequality and the unwillingness to invest.
@@Redf322 We are citizens, not subjects. "There are 6 different types of British nationality. These are: British citizenship British overseas territories citizen British overseas citizen British subject British national (overseas) British protected person" "Born in the UK or a British colony before 1 January 1983 You’re usually a British citizen automatically if you were born in the UK. There are 2 exceptions. You will not be a British citizen if your father was either: a diplomat working for a foreign country; an ‘enemy alien in occupation’ - this only applies to you if your father was in the Channel Islands during World War 2 when you were born" Source: 'Types of British nationality' on the UK.GOV website.
We cannot do what we cannot afford. So we throw 3 billion a year for 10 years at Ukraine before looking at the coffers!That is a discrace. Reeves is prioritising foreigners before pensioners. Thats clear for all to see.
There must have been dozens of other ways Rachel Reeves could have clawed back just £1.7BN millions of pensioners are just very slightly over the Pension credit threshold - they will be the hardest HIT
THESE PEOPLE AFTER ENJOYING QUALITY FOOD FROM SCOTLAND,RED TRACTOR CRAP! THESE M.P.S TAKING EARLY RETIREMENT FULL PAY! OR MOVING INTO HOUSE OF LARDS FOR An HOURS SLEEP< AT £325 PER DAY! MUGGED!
@@andrewgaskin2297 yeah but but your forgetting that the Tories gave tax cuts to the rich and lumbered ordinary people with blighted lives through austerity. Labour hasn't done that in fact it's done the opposite and agreed to for example close to 22% pay for junior doctors and agreed recommended pay rises for public sector workers if you ignore the difference it's because you either a Tory or Reform and deniers of the truth.
So you don't think labour are blighting ordinary lives? You must be a reciever of benefits or a denier of the truth then! Two weeks in and already targeting pensioner's just wait till the tax rises start coming! And come they will!
@@keithmarshall8796 yes I do. I wish you Reform and Tory lot wouldn't attack the weak such as those on benefits, it's all too predictable. I suppose you also think I'm somehow foreign. Wrong. And onto your main point of course I think labour will improve ordinary peoples lives. Of course they will. Come back in 4 years. Take my job, my union reports constructive talks with the government in complete contrast to the previous lot, the Tories. So yes already millions of people's lives are on an upward curve rather than the long way down the corrupt and venal lot previously took us for 14 YEARS!
Pensioner taking the first hit in labours economy drive next it will be the public at large. All to fund labours expenditure on becoming the first country to fulfill net zero among all their other overpriced projects. Its always the public that face the brunt of economic measures never the politicians. So how about stopping the MPs heavily subsidised restaurant in parliament for starters.
So, fascism rises when the material conditions of vast swathes of the population worsens. Therefore, a government with the lowest vote turnout ever and a complete loss of confidence in politics, the government decides to make the material conditions of vast swathes of people much worse. What's going to happen?
We can already see what is happening by events in the north of England town where a knifeman killed three little girls, with others in intensive care in hospital This incident is tragic beyond belief and my heart goes out to the bereaved. However, this incident was exploited by far-right fascist thugs who put about a rumour that the assassin was a Muslim. This led to an attack on a mosque, street fighting and vehicles on fire. Police attended in riot gear. This is not the only incident of this kind to have taken place recently. The writing is on the wall.
Because all the alternatives were far worse, only idiots wanted more of the same from the nasty party, the Gammon wanted the far right whose only policies are hatred of foreigners and getting rid of taxes and the Fib Dems are the Fib Dems.
Very good Richard. However, I think you have gone too easy on her. The status of worst chancellor in history has already been achieved by virtue of the relationship between her current job and her previous job at the BoE. As a BoE economist, she was one of a team of people responsible for shaking the real magic money tree yet she is happy to stand up in parliament and tell bare faced lies about it not existing.
Who should they have voted for instead then? Its a £22bn hole for 1 financial year not the £20bn shortfall that Labour thought they were inheriting over the course for 5 years and it was hidden by the Tories. Which party should have been voted for to deal with it?
Cash isn't going to Ukraine, but equipment, some of which was stockpiled and wouldn't otherwise have been used. By sending storm shadows the UK boosts the defence industry. It's a great investment and we and the rest of NATO should be doing much more. If Putin isn't stopped in Ukraine, he won't stop and the consequences will be appalling for us all.
This is what happens when Labour is funded by the rich and business. The people are now no longer their priority. They won't tax the rich, because that would be biting the hand that feeds.
The pensioner bashing has started, labour such a caring party as long as you've just arrived on a boat, every extra one in is another vote, will the fools who voted them in see what there've done now
Hunt gave us the triple lock with one hand then stealth tax us with the other hand we lost £159 a month out of our pension now we are loosing our winter fuel all, that makes £2100 every year , hunt is a real con artist, don’t believe a word he says.
Strange that. Ukraine. A small country up against one of the most powerful military forces in the world. Even stranger. Russia seems totally incompetent. 😂😂😂 Must be all the vodka in the tap water. Yes, I agree. When it comes to fighting against the next great boogie man (Russia), the money just appears out of nowhere with significant ease. Just wait for the war that's being ramped up by NATO. The spending will be so huge that everything else will pale into insignificance.
I'm thinking members of the government need to pass a test to make sure they understand the basics of their new job. Misquoting and misunderstanding Keynes is pretty basic.
said that for years. What qulifications do these MP's making decisions have ... how are they qualified for the role ? OK Reeves worked at BoE, so do I but I don't think that would get me her job.
Hallelujah 🙌🏻!!!!! The daily jesus devotional has been a huge part of my transformation, God is good 🙌🏻🙌🏻. I was owing a loan of $49,000 to the bank for my son's brain surgery, Now I'm no longer in debt after I invested $11,000 and got my payout of $290,500 every month…God bless Mrs Susan Jane Christy ❤️
Your explanations about complex economics is much welcomed! I'm disgusted by Rachael Reeves! Please could you further explain why Rachael who worked for the Bank of England can be so hopelessly bad or is it because the UK Government have to appease the Right-Wing Press? Why can't the Labour Party create a 1% - 5% Super Wealth Tax on assets for the duration of the 5 year Parliament to stimulate growth and restore public services? Why can't Brexit be seen as an economic sanction that needs urgent treatment? What's the difference between a financial blackhole and a shortfall? Thanks.
Strange only 6 weeks ago, everything was plain sailing if labour get in power, all costed and accounted for. Yet not 4 weeks in power and it's all down the crapper .. 5 long years of this turmoil.
This is not really a surprise; meet the new boss, same as the old boss. It's why I didn't vote Labour even though I'm a Tory hating working class geezer.
The Tories have already taken just under £100,000.00 of UK State pension from both me and my wife with their 2011; UK State pension reforms. Which put a further full eight year's of work onto both me and my wife, with my wife having to work an extra full seven year's to now qualify for her full State pension . No measures to ban the massive registered offshoring of both profits and incomes, by both UK companies, and individuals which would net the treasury over £48 Billion a year in tax revenues, from just this one single measure of tax reform? A total farce....
Not a great start by Reeves and doesn't bode well for the future. In a recent interview she was asked if she would create money as the US had done for investment. Her reply was that unlike the US, UK Sterling was not a Reserve Currency and so couldn't. Strangely, the IMF regards Sterling as one of 8 world reserve currencies. On the subject of winter fuel payments, it will be paid to those claiming pension credits but a lot of people who are entitled to pension credits aren't claiming them. Unfortunately she didn't clarify how she will get around this one or perhaps she can't be bothered and doesn't care.
She's claiming only the US can do what any currency issuing nation can do. US has extra privileges from being the reserve currency, but it doesn't curtail investment. However, the lack of investment ensures our economic decline worsens
@@WarrenPeaceOG Investopedia states that a reserve currency is a large amount of currency held by central banks and major financial institutions to use for international transactions. The US dollar seems to account for about 58% of global reserves whereas sterling is about 5%. I appreciate that the UK may not have the scope that the US has. I understand that their inflation reduction act created hundreds of billions of dollars. On that basis, the UK must easily have scope to create say £20bn for investment.
"On that basis, the UK must easily have scope to create say £20bn for investment." - it doesn't work like that. The charge is that *faith* in the value of the pound would reduce due to printing more. It's not as simple as that though. Many factors contribute to exchange rates. The UK gov can create whatever it wants to invest, just like it created whatever it wanted for furlough. As you say, Sterling is also held on reserve across the world, and even at a small percentage of overall foreign currency reserves held, it's still a massive level. In other words, Sterling *is* a major reserve currency.
Labour and the Tories are not to blame. When it comes to the crunch the buck stop with the voter. You vote for a clown you get a circus, and giving a big 80-seat majority to a clown means you get a big circus. Countries tend to get the governments they deserve.
What Rachel Reeves is saying is she wants to spend lots of tax payers money but the UK electorate will not be so forgiving, like they have been to the Torie Party for a whopping 14 years.
Richard, why aren't economists shouting this from the rooftops? Why isn't it all over the news, why haven't the government asked for advice from yourself and or other economists? This is what I can't understand!
Worse to come. According to Private Eye, she worked for RBS during the HBOS scandal, which the taxpayer were forced to pay for after the City focused on risk rather than safety. The current issue of Eye reveals that she has amnesia/hasn't learned the lessons of that time and is delivering 'light touch regs' (or soft touch) as the Eye puts it. Another financial crisis brewing, due to lax regulation and an emphasis on growth through casino style practices? Wonderful. More tax and austerity for ordinary people, bailing out the risky practices of financial institutions.
We were capable when we had industry and a good education system when people knew their gender and families were important. Those times have long Richard and we are genuinely NO longer capable. And I say that with a heavy heart.
With Blair and Brown it was New Labour ,with Starmer and Reeves it is New Tory. The so called £22 million could be easily be found from a one off tax on the oil and utility companies. 10 million pensioners will lose the fuel allowance.
@@garethwilliams4467 Since Thatcher became PM we've seen a steady transfer of wealth from ordinary people to the extremely rich. They have stolen our wealth, it is not possible to significantly improve the outlook for the masses without getting our stolen wealth back. How are young people nowadays, even in decent jobs, expected to be able to buy a house without parental support? In my young working life it was easy, the reason it is now nearly impossible is that the rich are using houses as assets.
@@MentalLentil-ev9jr Why has there been a transfer of wealth ? You are talking only about houses I take it. No mention of the superior opportunities to improve their lives through education/travel/diet ... and avoid conscription that the zoomers have. There is nothing but money/wealth out there if you have the brains to add the value ... there is no limit money is infinite. Go earn some. No other nation on earth, I lived in a few, is as entitled as this one.
@@garethwilliams4467 I'm not just talking about houses, I'm talking about all assets. If you seriously think that people are wealthy because they worked hard, then you've fallen for the lies wholesale. You can i mprove your lot within certain boundaries for sure, but there are limits, the very rich almost always come from families with lots of money. As someone in a decent job it was easy for me to buy a house (I'm now 70), if I was growing up today with the same job, I couldn't have done it and I'd have been helping make a landlord rich through my rent.
It looks like more potholes in our roads, no new transport systems in the North, and no winter fuel allowance only if you are living on credit. How preposterous is all this????? 🤬🤬
This isn't a budget. We can't criticise the tax policies of the government until the autumn budget. I'm not terribly optimistic, but I'm not gonna get ahead of myself
Labour has always been a government of more taxes and more cuts, ever was the case. The retired who voted for this shower, again, got what they deserved, unfortunately the pensioners that voted for Reform now have to suffer too. Labour are finished before they got started.
And us faithful Tories who foretold this would happen. You could see that Hunt was steaming mad at the lies being told yesterday. She has mislead Parliament and should be dealt with accordingly. She has also removed the one small perk that pensioners get. How do labour voting pensioners feel about that.
You torys are all corrupt hypocrites and seem to have a brain of sand. As much as I much as I don't like Starmer/Cameron lite and their plans I'd rather have this than the torys fantasy of 'cuts for thee but not for ME, I'll just redirect funding from poor people for our rich parks please. Don't forget to vote for me'. "Faithful tories", you should all be tested for brain function still voting for them after their actions with their morals on full display. Hunt was LITERALLY THE PERSON WHO WAS IN CHARGE PREVIOUSLY HOW DOES HE HAVE A LEG TO STAND ON IN YOUR MIND? These are the same fantasy cut cut cut economics that Cameron used. Thick as cement and dim as a dead bulb. @@johnowen1677
....and they said the Tory's were the nasty party! Depriving our senior citizens of heat is cruel beyond belief!!! Maybe her grandparents are rich, so she doesn't care.
@GLOBALFACTSandFIGURES while I don't want anyone to be squeezed, fact is most people under 50 have been squeezed for decades The older generation are just joining the same club everyone else has been part of. We're finally all in it together
@@sososoprano1....me too guess it doesn't pay to work all your life and save....better off being on the "dole" as they used to say having lots of kids in your council house that you don't pay for .....eating food you didn't pay for ....wearing clothes you didn't pay for.....guess these are the boomers we hear so much about who had it all and spoilt it for the rest of us".......got to say back in the day labour loved these people ........ I knew people who didn't work for 20 years and had cars had holidays and well..... had it all! 🤷♀️....and now they are getting their Winter fuel allowance.....
@@markwelch3564 I know, but the difference is the older generation can't do anything about it. You can hardly ask someone 80+ to go back to work. The younger generation can at least go out to work to make up the difference.
75% of the Labour Party membership are middle class so it’s no surprise that have abandoned many of the not so well off pensioners who are on the state pension, for the often very well payed public sector workers with their far better tax payer subside public sector pensions, the Labour Party have for a long time now, not been a party of the working class person.
Easy win to cut winter fuel allowance. Most pensioners vote Tory, so stuff them. Well apart from those on benefits, who will still get theirs and mostly vote Labour. Plenty more pain to come for those who made provision for their post work years - higher tax on income from their savings, more IHT so they can't give their money to their children and if Richard has his way a wealth tax to tax saved income again.
@@emperk7sometimes abc thinking is the better thing ........all these complicated fancy named Wheeling and dealing manoeuvers and statements are hiding a lot of money being bled away from what it should be spent on and into greedy dishonest pockets......
Sorry for you! Left wing politics are based on envy, jealousy, hatred mixed in with a healthy dose of misplaced moral superiority! Move to Venezuela and enjoy your socialist utopia!
support left - wing true Labour. purge unwanted cruel Conservative policy's prejudiced against the working-class and people who are less fortunate in life having to claim state benefits.
Well, it is a good job Doctors and Nurses are having a pay rise because, after the help with fuel bill for pensioners are being cut, they will be having more elderly patients to treat. Only if there are hospital beds for them. I don't qualify for Pension Credit, I am just above the thresh hold, but on low income. What do I do!!! Eat or Heat. Could go back to work (if I could get a job) but I would be taxed on my income. Dammed if you do, Dammed if you don't. Thing is I didn't vote for these people.
@@garethwilliams4467 The British working class are owed a quality of life that meets our national potential. It is a tragedy children go hungry over kindergarten economics. It's tragic because it's entirely unnecessary
@@WarrenPeaceOG "owed" ??? Is there anyone left in the UK who will tell me what their responsibilities are as well as their rights ? If children are going hungry that is their parents fault. A decent parent would sell their arse on a street corner before their child goes hungry, or goes to school dirty. Blame the parents .. here is an idea, why don't the poor stop breeding ?
Keep pointing out that taxing the wealthy would give the government money that they are taking from projects and pensioners. Keep pointing out that their choice to not tax the wealthy makes it very obvious to the public just who Labour favours in what should be a democracy but which Labour has already trashed and shown that they are not democratic. Keep pointing it out. Don't let them think that anyone is fooled.
You seem consumed by jealousy ... would you include taxing doctors more now they've had their big hike ? Why should the rich pay for the poor ? They earned thier money fair and square
@@garethwilliams4467 I have been watching the videos by Garys Economics. I believe what he says - the inequality of wealth is the largest driver to the country's problems. It is the same in the US. Jealousy isn't accurate.
I would say that I believe from his videos Richard Murphy also sees that inequality of wealth is a major problem and you can listen to the Vermont senator Bernie Sanders also cite it as a problem.
@@WVislandia Me too. Gary is great. The Occupy movement first highlighted this problem in 2011, after the banks crashed the global economy in an orgy of fraud. Gross inequality is accelerating and creating economic stagnation and falling quality and quantity of life. Gross inequality means it's not the 1% that are the problem, but the 0.1% or the 0.01%. We are barrelling toward techno-feudalism, where a few trillionaires own everything globally and we rent what we used to own. Every billionaire is a policy failure: this is based on the principle that it is better for society and economic health if we have 1,000 millionaires instead of 1 billionaire
@@WVislandia wow you watch videos!!! Good for you. Inequality is a good thing becasue we're not equal - if I earned it fairly why should I be forced to equalise with someone like you ?
If it becomes a means tested benefit in the budget, most State Pension recipients will then qualify for Winter Fuel Allowance. The government website is updated to list eligibility as Pension Credit and means tested benefits.(which includes housing benefit,etc)
There will be people knocking on her door at no 11 regarding the theft from pensioners, does that include her own parents pensions , I have a daughter of the same age as her and she wouldn't have done that to us.
Richard i always said goverment needed reforms, we needed a party of proffessionals in their field ,people like yourself all contributing to the rebuilding and hope for Britain , we know what the less well off will get more of the same ,and more collapse in community . When people and towns thrive ,so do the better off, so do imports and exports ,and trade , more building means more jobs,and satelite industries , i dont like this bunch one jot .
A drop in the ocean compared with Brexit at £100bn a year, tax evasion estimated at £35bn and all the wasted money Truss £40bn, failed test and trace £37bn, dodgy PPE contracts £8bn. The new government probably had no choice
You mean refugees arriving in boats? Over 75% are ultimately granted refugee status. Govt just wastes a fortune not processing them due to underfunding, as they do with NHS. Defunding and breaking working systems is key to privatization. The other half of the picture is we spend billions arming and funding extremists to destabilize countries like Syria, Ukraine and Taiwan. Then we spend millions more on the consequences of our imperial crimes
Absolute codswallop. The world the Maynard Keynes lived in is nothing like that world we live in. Living into your 80s is now the norm( brought lower by lifestyle illness) that are taking millions out of the workforce decades early.capitalism and the markets have decided that money should only flow upwards to the already asset rich. Ordinary folks have realised that they simply cannot afford to have children as they can barely afford private rents. We are in a death spiral. Successive governments have seen immigration as a temporary fix, unfortunately the indigenous population have rejected this through things like Brexit. It's high time the drain on our future prospects as a functioning society lost their politically motivated protection against the economically ruined inheritance THEY have bequeathed future generations.
Richard nobody has ever given a reason why politicians lie about government spending and gaslight ie tax payers money, national debt, how much will this cost the tax payer. Who really is in charge of the government?
As a Pensioner - and when I have recovered from the kicking - I will not go away. I will be writing - via my MP - to Starmer, and calling for a Reeves Sacking! I would suggest that as many viewers as possible do the same. Surely though, probably not a play on Keynes - I think she more embodies Thatcher, with her Handbag Economics etc.
@@taniayager3361 Well, I know what you mean and of course there will be no sacking. The MSM are fawning all over it and she is taking such 'tough' decisions - oh wow - and she starts with the softest of targets. God, that's so hard.
We cannot afford to support MPs to the level of luxury that they enjoy at our expense. We cannot afford the House of Lords at all.
Get the lords disbanded
I think it is disgusting that she will take my Winter Fuel Payment away, when she just voted to increase her salary from £86K to £100K, plus expenses. They won't suffer, not while the ex-working class can be forced into death.
Where is the opposition to making the poor poorer 😮😮😮
the tories? they want more and more people to be poor. whether they are brought in, or manufactured here. the Uniparty want a serf class so they can sip champagne watching the global events in comfort.
@@RobertMustoe Labour used to **be** that….
Don’t be stupid🤣🤣🤣🤣🤣 27% of pensioners are either millionaires or live in 1 million plus households!
Just another shill talking absolute garbage
Above inflation pay rises for doctors, nurses, teachers, armed forces. That's opposition to making the poor poorer. Just because she has cut some projects for which there was no funding doesn't make the poor poorer.
Labour have just agreed a 5.5% public sector pay increase.
Lots of public sector workers are poor
No austerity for MPs, free heating and second houses, expenses and of course subsidies on food and booze in parliament!!!
Does anyone know do Government MPs get a clothing allowance?
@@robertadams1054 I can't believe A.B de P. Johnson did.
Just days after Sir Keir Starmer was spotted wearing a £500 hoodie from luxury French fashion house Sandro, it has emerged that a peer donated nearly £20,000 to help the Labour leader with a pre-election glow-up.
Former ASOS chairman Waheed Alli, who sits in the House of Lords, gave stylish Starmer £16,200 for “work clothing” and a further £2,485 for “multiple pairs of glasses”, according to the latest update to his register of interests.
From the Independent
@@moretimeneeded56isn’t that just a bribe?
@@augustinbelza2418 Yes!
Another squeeze on pensioners, next it will be a tax on savings. What also annoys me about her, is the way she talks it’s a bit like a headmistress talking to her pupils and there are some rubbish head mistresses around.Its all very clipped and we have got this crap for another 5 years.
Dunning-Kruger effect with Reeves.
@@malcolmstonebridge7933 I'm not overly impressed by her but there's no Dunning Kruger here.
Could she live on 400£ a week. Xx
Yeah..., just like there are some (many) rubbish headmasters around‼️
That is a slur against headteachers. I was a teacher for 25 years. The best head I ever worked with was a woman, the worst a man: even he had the interests of the students in mind. Reeves is a politician so serves no interest save her own.. Please do not put her in the same category as any teacher, current or former.
We could save tens of millions of pounds by only paying MPs the average UK wage, removing their subsidised bars and restaurants, and capping their expenses claims.
and gold plated pensions, I doubt that they will need to be means tested unless they can hide the gravy boat
It's like we've learnt nothing. There will be no growth without more spending,it's not about balancing books for goodness sake. What a wasted opportunity...
She just announced 9 billion in spending on pay rises
I dunno if you actually listened to her statement? there were maybe two actual cuts in there. The one in the news is means testing the winter fuel payment by thing it to pension credit. The second was to ask departments to find 3% savings, preferably by cutting the use of external consultants. The winter fuel thing isn't great, but it's the only unambiguously bad policy; cutting the vast amount of cash wasted on consultants was something Labour were targeting in the election, as it's basically a mechanism for Tory-aligned triggers to sponge off the civil service.
Everything else is either outright good (not selling Natwest shares for well below market value, not giving train operating companies a couple of billion a year in corporate handouts they don't need), good in the sense of solving the budget problem (reducing spending on hotels for migrants by actually processing asylum claims, therefore either deporting them or allowing them into the country where they can get a job to sustain themselves), or an admission that the Emperor has no clothes. Most of the statement was a list of spending commitments that the Tories made but which no or insufficient money had been put towards, and which did not practically exist in the real world but which did exist as a big red number on the budget sheet. I'm not particularly broken up over Rishi Sunak's dead in the water A-Level replacement nobody has ever heard of getting scrapped, nor Hunt's shady investment fund that had no bids for its funding but mysteriously consumed cash anyway.
The infrastructure projects getting cut aren't 'real' cuts, there wasn't any substance to those projects in the first place; they were road and rail (and hospital!) projects the last Government authorised and then did nothing with. Cutting them isn't a change in policy, it's just admitting that they don't actually exist.
At the same time she's announced a major increase in public sector pay. That doesn't come of as the action of an austerity mad fiend.
@ster2600 that's necessary and welcome, but where's the infrastructure investment?
We've gone from hard austerity, to austerity lite. It's an improvement from where we were, but it's still short of what's needed to turn things around
@@ster2600which will actually help growth by putting more money in the economy and the government will get a large proportion back in tax as explained in yesterday's video
@@mdt105The cut to winter fuel payments was a novice error. Instead increase the windfall tax on energy companies or cap fuel energy prices properly.
She’s gone for the soft underbelly of society. Is this the first example of means testing pensioners by this bunch of numpties. I thought the Labour Party was created to help the working man/woman against such accounting.
I thought the Labour party was created by a class of people at the top who were genuinely scared of the working classes potential to revolt, and whom in response subverted a movement in order to stop this from happening.
another naïve one.
Well pensioners aren't working anymore are they?
@@kimoota-kun true but many of them have worked the majority of their working lives.
@@kimoota-kunyou'd be surprised how many are. Plenty of delivery drivers I speak to are supposed to be retired but can't afford to.
I'm going to have to go through the Labour manifesto again, I must have missed the section on austerity and shafting the pensioners.
THERE WAS NO MANIFESTO! SECRECY LAWS INTRODUCED THAT ARE ILLEGAL IN SCOTLAND! WHAT A FARCE THIS FORCED UNION HAS BEEN!! ENGLAND NEGLECTED ITS END OF THE BARGAIN!!
I don’t mean to be glib, but it was pretty obvious to anyone who gave their attention to the words and actions of Starmer and Reeves over the last 5 years. It wasn’t a secret and this isn’t a surprise. Unfortunately, some people took the view that this Labour government is still better than any Tory government. We’re all going to pay the price for it multiple times over, because they won’t get another swing at it come the next GE.
This will hurt most those working class people who contributed to a modest workplace pension and are receiving a small additional pension that just takes them above the pension credit limit. A disgrace.
Indeed, a ' Labour' government which seeks to punish the less well off in order to reward those whom it sees as labour voters.
Exactly might aswell spend everything and not be responsible so end up on benefits
@@mj8325 That seems to be what Rachel is recommending, certainly.
I'm one of the few lucky ones who spent the first half of their working life in a final salary scheme; lucky because a strong Trades Union operating in a post entry closed shop system was able to demand it. I have no need of a meaningless bung come the winter. I have no need of free prescriptions either, and would be perfectly happy paying the same as anybody else on regular medication. I have been around long enough to remember Blair's promise that "things can only get better" and then those long years when nothing changed. Starmer is a Blairite, I don't expect any different now.
@nicktecky55 Speak for yourself
Many Pensioners are on repeat prescriptions and more than just one item.the cost per item if they had to pay would be £9.90. 🙄
Reeves is the worst chancellor Starmer could have chosen. A traditional ex-BofE economist devoid of progressive policies. She talks about growrh get suppresses it. Inequality stifles growth and targeted investment stimulates it. As a recipient of one of the worst state pensions in Europe, I'm p1ssed that I must give up a winter fuel allowance while energy companies profiteer. Why not increase the windfall tax on them?
It’s ridiculous how much the energy company’s are making in profits whirl pensioners can hardly pay for heating with their extortionate costs, the standing charge is utterly disgusting. It’s more than the fuel I dare to actually use.
what do these companies owe you ? be specific
@@garethwilliams4467 a fair price for fuel used
@@garethwilliams4467 These companies owe society to compensate for their profiteering. The neoliberal model is a scam.
@garethwilliams4467 uk taxpayers are subsidizing all this so called green energy in windmills and solar farms. We help foot the bill for equipment and installation costs and then any energy from them goes straight onto the open market and we get to pay again.
We are being shafted by these companies their owners but worse of all our politicians who could insist we get a portion of energy for free in return for the money we’re handing over.
Also highlights if it’s all so wonderful then they should be spending their own money should the companies and not leeching off the taxpayers with the private public partnership schemes, they’re a rebranded pfi.
Awful start to the Labour government!! Gunning for pensioners straight off the bat 😢
‘If we can find the money to kill people, we can find the money to help people’, Tony Benn
We have all known the Labour government was coming for a while now. Many of the public were begging for it thinking things cannot be any worse. As I am such an optimist I always replied just wait and see as this can always be worse. Well here it is getting worse already.
It's not worse by a mile. They're doing what needs to be done to start pulling the country back.
Both Star mer and Sun ak are WEF puppets, as are those under them. They have a de pop agenda, compromised immune systems, after the you know what, are easy to finish off when the winter cold weather comes. Then their job is complete
@@nitsujism it’s also short term thinking. Let’s not build new hospitals now let’s do it in 5 or 19 years when they will be even more expensive.
But only time will tell if this is the right thing for us commoners or will they tax us more while letting the super wealthy continue to grow their wealth.
@@nitsujismYes typical labour, hit the pensioner's pocket ( Brown's 75p a week springs to mind) Then start raising taxes for everyone. Different faces, same old labour!
*IT WAS SHOCKINGLY SHORT SIGHTED AND LACKING IMAGINATION* I genuinely thought she would be better than this - this was my worst suspicions confirmed
Really? She is a leftie witch.
mug....
Blame the Labour suppers and voters. THEY SHOULD HAVE LISTENED TO REFORM.
@@JimRogers-oc2jd who would have done what, exactly?
😂
Labour a party of robin hoods in reverse disgusting
The word you want is Robbing Hoods.
I understand that the State Pension is a "Benefit" but, with just over 49 years of full National Insurance contributions and less than 6 months away from being able to claim my State Pension, it is now under threat. I work hard and I save but I'm not wealthy. Now labour will give it away to people who don't and to people who shouldn't even be in this country at all!
The State Pension is NOT a benefit it was paid for with 40 years of National Insurance payments.
What are you on about?
@@apiscator444 Get you facts right. It is unfortunately classed as a benefit which is why the government can take it away, just like the Winter Fuel Allowance. What you paid in NI contributions has been paying current pensioners. There is no pension pot with your name on it.
@@apiscator444absolutely right. I have three pensions not by luck or free handouts but by working and paying taxes.
@@JasonK-gt8tm Then there's no reason to pay NI if it isn't a contract with the taxpayer.
I will lose Pension Credit shortly as my son (19) finishes his apprenticeship. I am 74, disabled and unable to get health care without going private which I cannot afford. My only income will be state pension of just under £11,000. Why am I paying taxation of over £2,300? (Council tax, car fuel duty, VAT on many things plus parking permit, tv licence etc.) Now Labour are going to take my heating allowance. Who voted for this?
@@jonp3216 I stopped paying my tv tax 5 years ago, already saved £750
stop foreign aid ,stop giving money away , stop MP,S CLAIMING HEATING ON EXPENCES , STOP THE WESTMINSTER SUBSIDISED FOOD AND DRINK IN THERE ,WE CANT AFFORD TO FEED THE PIGGYS ANYMORE , GET YOUR SNOUTS OUT THE TROUGH
I am 76 and what you posted is what i have heard from the first election from when i was born. For some years people have posted here on social media. Now you can see it does no good and action is the only way.
Exactly ! Well stated.
You say stop foreign aid but the money should be used to help poorer countries and keep them stable.the cutting of foreign aid will more likely lead to more asylum seekers which I assume you are also against.
Much of foreign aid goes toward paying foreign office staff and British NGOs and companies. Grow up.
@@JohnPark-xf2gqforeign aid isn't used to help people. It's used to maintain influence in certain parts of the world. It's a racket.
C'mon Rachel stop taking the money from an easy target ie pensioners and disabled and have more guts and take from the Bankers and Big Business bosses bonuses for doing a poor job. Disgraceful Rachel and Labour. We need a Chancellor with more guts and vision for this Country and this is not Rachel.
They won't go against the Global Elites though, AKA their masters
The Davos plant ain't doing that .
@@user-qj5xl4hy5q stop being polite it’s not Rachel it’s robber reeves
I see we still have £14bn for the foreign aid budget ever year though.
What's wrong with that? Why not criticise the MoD budget?
@@Banjo2030 Because defence is the primary mission of any government and it is too small anyway. Cut foreign aid first (although help should be provided through things like hospital ships where you can actually see the benefits of your expenditure without it being syphoned off out of sight.)
@@Banjo2030 It gets wasted by the countries we send it to.
We're borrowing money to give away to other countries.
@@Banjo2030Do you keep an eye on international affairs ?
It may come as some surprise to you to learn, there is a full scale bloody war being fought by a clone of Herr Hitler.
Insufficient investment was made in defense in the 1930's and look what that did for our father's and grandfather's generations.
Defense expenditure is like having house insurance, rather silly not to have.
So many young naive people nowadays.
Labour Culls Pensioners This Winter .
Gonna be a one term government ...
To pay £145 a day to each of our Irregular Migrants.
@@stephfoxwell4620It's not the "migrants" that are the problem. (Not that all you racists cared: you were applauding the Tories propping up the State finances of Rwanda, just to get rid of about three of them! 😂)
No its not. The tories are gone for decades
@@stephfoxwell4620 Irregular migration has zero to do with the financial problems of our country, our problems are caused by the increase in wealth inequality and the unwillingness to invest.
@petyrkowalski9887 Well then maybe someone OTHER than the "two cheeks of the same backside" will be elected to power! 🤞
We cannot afford Labour or the Conservatives.
Reform
@@user-xb4le4og8e 😂😂
I think you have hit the nail on the head. Unfortunately I can’t see a credible opposition
@@user-xb4le4og8ewhat's reforms economic policy to solve everything.
@@redmed10same as Liz’s truss
Where is the French spirit?????? If this was France the pensioners would be on the streets by now!!!
It's because this is Britain not France! We are docile like sheep and will put up with any amount of crap.
French are citizens we are subjects
@@Redf322 We are citizens, not subjects.
"There are 6 different types of British nationality. These are:
British citizenship
British overseas territories citizen
British overseas citizen
British subject
British national (overseas)
British protected person"
"Born in the UK or a British colony before 1 January 1983
You’re usually a British citizen automatically if you were born in the UK.
There are 2 exceptions. You will not be a British citizen if your father was either:
a diplomat working for a foreign country;
an ‘enemy alien in occupation’ - this only applies to you if your father was in the Channel Islands during World War 2 when you were born"
Source: 'Types of British nationality' on the UK.GOV website.
@@jimbowers8278but we have royalty and we are subjects
We cannot do what we cannot afford. So we throw 3 billion a year for 10 years at Ukraine before looking at the coffers!That is a discrace. Reeves is prioritising foreigners before pensioners. Thats clear for all to see.
We cannot afford this sham of a Government.
More to the point 80% of the population did not vote for this draconian tyrannical govt and they know it!
There must have been dozens of other ways Rachel Reeves could have clawed back just £1.7BN millions of pensioners are just very slightly over the Pension credit threshold - they will be the hardest HIT
Just 10% clawback of foreign aid would have been enough. We will be asking for foreign aid very shortly it appears.
@@lindabowman2868 who will oblige tho ?
THESE PEOPLE AFTER ENJOYING QUALITY FOOD FROM SCOTLAND,RED TRACTOR CRAP! THESE M.P.S TAKING EARLY RETIREMENT FULL PAY! OR MOVING INTO HOUSE OF LARDS FOR An HOURS SLEEP< AT £325 PER DAY! MUGGED!
Was it not Labour that said "Austerity is a political choice".
Corbyns Labour
@@andrewgaskin2297 yeah but but your forgetting that the Tories gave tax cuts to the rich and lumbered ordinary people with blighted lives through austerity. Labour hasn't done that in fact it's done the opposite and agreed to for example close to 22% pay for junior doctors and agreed recommended pay rises for public sector workers if you ignore the difference it's because you either a Tory or Reform and deniers of the truth.
So you don't think labour are blighting ordinary lives? You must be a reciever of benefits or a denier of the truth then! Two weeks in and already targeting pensioner's just wait till the tax rises start coming! And come they will!
@@keithmarshall8796 What i'm saying is that attacking pensions is a political choice made by Labour. They can't blame anyone else.
@@keithmarshall8796 yes I do. I wish you Reform and Tory lot wouldn't attack the weak such as those on benefits, it's all too predictable. I suppose you also think I'm somehow foreign. Wrong. And onto your main point of course I think labour will improve ordinary peoples lives. Of course they will. Come back in 4 years. Take my job, my union reports constructive talks with the government in complete contrast to the previous lot, the Tories. So yes already millions of people's lives are on an upward curve rather than the long way down the corrupt and venal lot previously took us for 14 YEARS!
Pensioner taking the first hit in labours economy drive next it will be the public at large. All to fund labours expenditure on becoming the first country to fulfill net zero among all their other overpriced projects. Its always the public that face the brunt of economic measures never the politicians. So how about stopping the MPs heavily subsidised restaurant in parliament for starters.
Spending on net zero projects or any other infrastructure stimulates the economy, the problem is Labour won't be building much of anything
Just another Tory gov. what’s new, Labour. 😞
This time the hurt will be more transparent
Fiscal drag (pulling pensioners into an income tax bracket) and no fuel allowance together make the triple lock almost worthless.
So, fascism rises when the material conditions of vast swathes of the population worsens.
Therefore, a government with the lowest vote turnout ever and a complete loss of confidence in politics, the government decides to make the material conditions of vast swathes of people much worse.
What's going to happen?
they cant see it but we can see it coming on down the line civil unrest cant happen here? think again .
@@knoxyish they can see everything. dont ever give them the credit of being ignorant. they are not.
We can already see what is happening by events in the north of England town where a knifeman killed three little girls, with others in intensive care in hospital This incident is tragic beyond belief and my heart goes out to the bereaved. However, this incident was exploited by far-right fascist thugs who put about a rumour that the assassin was a Muslim. This led to an attack on a mosque, street fighting and vehicles on fire. Police attended in riot gear. This is not the only incident of this kind to have taken place recently. The writing is on the wall.
Labour voters were told all these things about Labour and despite opposing, they voted Labour anyway. Why?
To stop the right which is far worse. The doctors and NHS workers got a rise at least
Who did you vote for?
Because all the alternatives were far worse, only idiots wanted more of the same from the nasty party, the Gammon wanted the far right whose only policies are hatred of foreigners and getting rid of taxes and the Fib Dems are the Fib Dems.
@@ster2600 I didn’t vote. I refuse to take part in corrupt politics
Because it's early days and Labour will deliver. Imagine if you were a junior Doctor you would have a differnt opniom
Very good Richard. However, I think you have gone too easy on her. The status of worst chancellor in history has already been achieved by virtue of the relationship between her current job and her previous job at the BoE. As a BoE economist, she was one of a team of people responsible for shaking the real magic money tree yet she is happy to stand up in parliament and tell bare faced lies about it not existing.
Targeting pensioners is seen as an easy option. Labour has your best interests at heart! Kiss your state pension goodbye!
True we are no use after all 🤷♀️if die we die ....
they stop the state pension they better go hide in there bunkers.
All those Labour voters who gave them this majority should be ashamed
they wont be they are all the benefits receiver's
Who should they have voted for instead then? Its a £22bn hole for 1 financial year not the £20bn shortfall that Labour thought they were inheriting over the course for 5 years and it was hidden by the Tories. Which party should have been voted for to deal with it?
why what have Conservatives achieved?
I am not funding Ukraine. She should be ashamed of herself cutting the fuel allowance. I didn't vote for these cranks.
U do not fund Ukraine
@@Mulberry2000 that's another way of saying 'I am not funding Ukraine'
@@Mulberry2000So who is Einstein? Where are the billions coming from?
@penderyn8794 taxes do not fund Ukraine the gov creates out of nothing
Cash isn't going to Ukraine, but equipment, some of which was stockpiled and wouldn't otherwise have been used. By sending storm shadows the UK boosts the defence industry. It's a great investment and we and the rest of NATO should be doing much more. If Putin isn't stopped in Ukraine, he won't stop and the consequences will be appalling for us all.
This is what happens when Labour is funded by the rich and business. The people are now no longer their priority. They won't tax the rich, because that would be biting the hand that feeds.
Blair was the first big name to infiltrate British politics for Fuhrer Klaus Scvhwab and his WEF bioterrorist group...
The pensioner bashing has started, labour such a caring party as long as you've just arrived on a boat, every extra one in is another vote, will the fools who voted them in see what there've done now
Hunt gave us the triple lock with one hand then stealth tax us with the other hand we lost £159 a month out of our pension now we are loosing our winter fuel all, that makes £2100 every year , hunt is a real con artist, don’t believe a word he says.
No they won't. You're talking about people plugged into the BBC. They're braindead at best.
And yet oddly they can find billions for Ukraine but not the NHS. Hmm🤔
Strange that. Ukraine. A small country up against one of the most powerful military forces in the world. Even stranger. Russia seems totally incompetent. 😂😂😂 Must be all the vodka in the tap water.
Yes, I agree. When it comes to fighting against the next great boogie man (Russia), the money just appears out of nowhere with significant ease. Just wait for the war that's being ramped up by NATO. The spending will be so huge that everything else will pale into insignificance.
Ideological choice. However it’s not an either or situation. There is money for both.
@@moretimeneeded56there's fiat currency for both, we haven't used money for decades.
@@metalicminer6231 Yes I could’ve phrased it more accurately..
@Turnipstalk 2.3 billion pound. Rishi already said this publicly. You are the misinformation specialist it seems?
I'm thinking members of the government need to pass a test to make sure they understand the basics of their new job. Misquoting and misunderstanding Keynes is pretty basic.
said that for years. What qulifications do these MP's making decisions have ... how are they qualified for the role ? OK Reeves worked at BoE, so do I but I don't think that would get me her job.
If you believed that when they got in they were going to stick to their manifesto, you are naive 🤔.
Which part of the manifesto haven't they stuck to?
The manifesto was barely existent for this reason
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She is guilty of Thatcher's greengrocer analogy.
So much for labour being for the working class bullocks,pensioners are not getting winter fuel payments they will b out soon 🎉🎉🎉🎉🎉🎉🎉🎉🎉
Whatever you think of Jeremy Hunt, he would never have cut winter fuel payments. It took a Labour Chancellor to do that.
Labour must be held to account for this.
Your explanations about complex economics is much welcomed! I'm disgusted by Rachael Reeves! Please could you further explain why Rachael who worked for the Bank of England can be so hopelessly bad or is it because the UK Government have to appease the Right-Wing Press? Why can't the Labour Party create a 1% - 5% Super Wealth Tax on assets for the duration of the 5 year Parliament to stimulate growth and restore public services? Why can't Brexit be seen as an economic sanction that needs urgent treatment? What's the difference between a financial blackhole and a shortfall? Thanks.
Strange only 6 weeks ago, everything was plain sailing if labour get in power, all costed and accounted for. Yet not 4 weeks in power and it's all down the crapper .. 5 long years of this turmoil.
This is not really a surprise; meet the new boss, same as the old boss.
It's why I didn't vote Labour even though I'm a Tory hating working class geezer.
Labour pre election promised nothing and are delivering. Whats the problem. Well done all Labour voters they got it spot on.
The Tories have already taken just under £100,000.00 of UK State pension from both me and my wife with their 2011; UK State pension reforms.
Which put a further full eight year's of work onto both me and my wife, with my wife having to work an extra full seven year's to now qualify for her full State pension .
No measures to ban the massive registered offshoring of both profits and incomes, by both UK companies, and individuals which would net the treasury over £48 Billion a year in tax revenues, from just this one single measure of tax reform?
A total farce....
Not a great start by Reeves and doesn't bode well for the future. In a recent interview she was asked if she would create money as the US had done for investment. Her reply was that unlike the US, UK Sterling was not a Reserve Currency and so couldn't. Strangely, the IMF regards Sterling as one of 8 world reserve currencies.
On the subject of winter fuel payments, it will be paid to those claiming pension credits but a lot of people who are entitled to pension credits aren't claiming them. Unfortunately she didn't clarify how she will get around this one or perhaps she can't be bothered and doesn't care.
she's right about the reserve currency. The US is in a unique position in that way
@@garethwilliams4467 Why is that? Is the IMF wrong?
She's claiming only the US can do what any currency issuing nation can do. US has extra privileges from being the reserve currency, but it doesn't curtail investment. However, the lack of investment ensures our economic decline worsens
@@WarrenPeaceOG Investopedia states that a reserve currency is a large amount of currency held by central banks and major financial institutions to use for international transactions. The US dollar seems to account for about 58% of global reserves whereas sterling is about 5%. I appreciate that the UK may not have the scope that the US has. I understand that their inflation reduction act created hundreds of billions of dollars. On that basis, the UK must easily have scope to create say £20bn for investment.
"On that basis, the UK must easily have scope to create say £20bn for investment." - it doesn't work like that. The charge is that *faith* in the value of the pound would reduce due to printing more. It's not as simple as that though. Many factors contribute to exchange rates. The UK gov can create whatever it wants to invest, just like it created whatever it wanted for furlough.
As you say, Sterling is also held on reserve across the world, and even at a small percentage of overall foreign currency reserves held, it's still a massive level. In other words, Sterling *is* a major reserve currency.
Labour and the Tories are not to blame. When it comes to the crunch the buck stop with the voter. You vote for a clown you get a circus, and giving a big 80-seat majority to a clown means you get a big circus. Countries tend to get the governments they deserve.
This is a total disgrace i would tax the rich to the hilt.
Why aren’t they taxing the super wealthy? What am I missing?
They won’t tax themselves
What Rachel Reeves is saying is she wants to spend lots of tax payers money but the UK electorate will not be so forgiving, like they have been to the Torie Party for a whopping 14 years.
Richard, why aren't economists shouting this from the rooftops? Why isn't it all over the news, why haven't the government asked for advice from yourself and or other economists? This is what I can't understand!
Awarding King Charles 52% pay rise appeared to get pushed through with very little effort or scrutiny.
The inmates have taken over the asylum
Reeves can't even lie truthfully!!..
Worse to come. According to Private Eye, she worked for RBS during the HBOS scandal, which the taxpayer were forced to pay for after the City focused on risk rather than safety. The current issue of Eye reveals that she has amnesia/hasn't learned the lessons of that time and is delivering 'light touch regs' (or soft touch) as the Eye puts it. Another financial crisis brewing, due to lax regulation and an emphasis on growth through casino style practices? Wonderful. More tax and austerity for ordinary people, bailing out the risky practices of financial institutions.
We were capable when we had industry and a good education system when people knew their gender and families were important. Those times have long Richard and we are genuinely NO longer capable. And I say that with a heavy heart.
Wait until the budget - this will be truly shocking 😳
With Blair and Brown it was New Labour ,with Starmer and Reeves it is New Tory. The so called £22 million could be easily be found from a one off tax on the oil and utility companies. 10 million pensioners will lose the fuel allowance.
and the oil companies should pay that becasue ? Can you leftards talk about anything other than redistribtion ?
@@garethwilliams4467 Since Thatcher became PM we've seen a steady transfer of wealth from ordinary people to the extremely rich. They have stolen our wealth, it is not possible to significantly improve the outlook for the masses without getting our stolen wealth back.
How are young people nowadays, even in decent jobs, expected to be able to buy a house without parental support? In my young working life it was easy, the reason it is now nearly impossible is that the rich are using houses as assets.
@@MentalLentil-ev9jr Why has there been a transfer of wealth ? You are talking only about houses I take it. No mention of the superior opportunities to improve their lives through education/travel/diet ... and avoid conscription that the zoomers have. There is nothing but money/wealth out there if you have the brains to add the value ... there is no limit money is infinite. Go earn some. No other nation on earth, I lived in a few, is as entitled as this one.
@Turnipstalkto count to one billion non stop would take roughly 27 years.
@@garethwilliams4467 I'm not just talking about houses, I'm talking about all assets. If you seriously think that people are wealthy because they worked hard, then you've fallen for the lies wholesale. You can i mprove your lot within certain boundaries for sure, but there are limits, the very rich almost always come from families with lots of money.
As someone in a decent job it was easy for me to buy a house (I'm now 70), if I was growing up today with the same job, I couldn't have done it and I'd have been helping make a landlord rich through my rent.
god this is depressing
Money is not, nor has ever been a constraint for governments.
Meet the New Boss
Same as the Old Boss
This is what happens when you try to solve a Tory crisis with Tory policies, as promised.
She is a liar, and she is making terrible decisions. So we agree on a few things.
It looks like more potholes in our roads, no new transport systems in the North, and no winter fuel allowance only if you are living on credit. How preposterous is all this????? 🤬🤬
This isn't a budget. We can't criticise the tax policies of the government until the autumn budget. I'm not terribly optimistic, but I'm not gonna get ahead of myself
Labour has always been a government of more taxes and more cuts, ever was the case. The retired who voted for this shower, again, got what they deserved, unfortunately the pensioners that voted for Reform now have to suffer too. Labour are finished before they got started.
And us faithful Tories who foretold this would happen. You could see that Hunt was steaming mad at the lies being told yesterday. She has mislead Parliament and should be dealt with accordingly.
She has also removed the one small perk that pensioners get. How do labour voting pensioners feel about that.
@@johnowen1677you offered no alternative
Hunt told as many lies than any other Tory, all they've ever done is provide for the few, lying and cheating is the core of any conservative.
@@Redf322 Not my job to!
You torys are all corrupt hypocrites and seem to have a brain of sand. As much as I much as I don't like Starmer/Cameron lite and their plans I'd rather have this than the torys fantasy of 'cuts for thee but not for ME, I'll just redirect funding from poor people for our rich parks please. Don't forget to vote for me'. "Faithful tories", you should all be tested for brain function still voting for them after their actions with their morals on full display. Hunt was LITERALLY THE PERSON WHO WAS IN CHARGE PREVIOUSLY HOW DOES HE HAVE A LEG TO STAND ON IN YOUR MIND? These are the same fantasy cut cut cut economics that Cameron used. Thick as cement and dim as a dead bulb. @@johnowen1677
Who would have thought the beginning of the end would come so quickly . Utter incompetence .
....and they said the Tory's were the nasty party! Depriving our senior citizens of heat is cruel beyond belief!!! Maybe her grandparents are rich, so she doesn't care.
It's not much to lose, 10 quid goes nowhere, the crux of the matter is that they took it from people who maybe were blindsided and voted for a change.
@@CarlosAlberto-ii1li- £10 is the Xmas bonus. I’m losing £300.
@GLOBALFACTSandFIGURES while I don't want anyone to be squeezed, fact is most people under 50 have been squeezed for decades
The older generation are just joining the same club everyone else has been part of. We're finally all in it together
@@sososoprano1....me too guess it doesn't pay to work all your life and save....better off being on the "dole" as they used to say having lots of kids in your council house that you don't pay for .....eating food you didn't pay for ....wearing clothes you didn't pay for.....guess these are the boomers we hear so much about who had it all and spoilt it for the rest of us".......got to say back in the day labour loved these people ........ I knew people who didn't work for 20 years and had cars had holidays and well..... had it all! 🤷♀️....and now they are getting their Winter fuel allowance.....
@@markwelch3564 I know, but the difference is the older generation can't do anything about it. You can hardly ask someone 80+ to go back to work. The younger generation can at least go out to work to make up the difference.
75% of the Labour Party membership are middle class so it’s no surprise that have abandoned many of the not so well off pensioners who are on the state pension, for the often very well payed public sector workers with their far better tax payer subside public sector pensions, the Labour Party have for a long time now, not been a party of the working class person.
Public sector pensions aren't too high, everyone else's are too low
Easy win to cut winter fuel allowance. Most pensioners vote Tory, so stuff them. Well apart from those on benefits, who will still get theirs and mostly vote Labour.
Plenty more pain to come for those who made provision for their post work years - higher tax on income from their savings, more IHT so they can't give their money to their children and if Richard has his way a wealth tax to tax saved income again.
They still found money for a foreign war!
Totally agree we should be using that money to police our boarder our streets and to improve the nhs
A B C 1 2 3 thinking. No brain usage at all. Give it a rest.
@@emperk7sometimes abc thinking is the better thing ........all these complicated fancy named Wheeling and dealing manoeuvers and statements are hiding a lot of money being bled away from what it should be spent on and into greedy dishonest pockets......
@@emperk7 Sure its racist to not want Southport attacks!
Billions going to Ukraine
I am a socialist. I hate the Labour Party.
And what do you think of the Tories ?
Sorry for you! Left wing politics are based on envy, jealousy, hatred mixed in with a healthy dose of misplaced moral superiority! Move to Venezuela and enjoy your socialist utopia!
@@johnblack9037that comment was so ignorant and stupid. Are you American?
@@martinmcdonald4207What do you think? What do socialists think of the Tories?
support left - wing true Labour. purge unwanted cruel Conservative policy's prejudiced against the working-class and people who are less fortunate in life having to claim state benefits.
Five more years of Oxford PPE mediocrity and lessons unlearned 🙄
Reeves, sheze a Thatcherite monetarist who knew.
She has sabotaged Wes Streeting's Social Care plans. She will be thought of like Osborne, horrible.
Such bad PR for such small savings.
Kicking the pensioners three weeks in to a new Gov, they will be gone at the next election Hopefully a catastrophe and be gone in months
The one thing that is never cut, but should be, is Government itself.
Well, it is a good job Doctors and Nurses are having a pay rise because, after the help with fuel bill for pensioners are being cut, they will be having more elderly patients to treat. Only if there are hospital beds for them. I don't qualify for Pension Credit, I am just above the thresh hold, but on low income. What do I do!!! Eat or Heat. Could go back to work (if I could get a job) but I would be taxed on my income. Dammed if you do, Dammed if you don't. Thing is I didn't vote for these people.
so what do you think you are owed ? I have to work if I want to live.
I'm told its warm in Hell...
@@garethwilliams4467 The British working class are owed a quality of life that meets our national potential. It is a tragedy children go hungry over kindergarten economics. It's tragic because it's entirely unnecessary
@@WarrenPeaceOG "owed" ??? Is there anyone left in the UK who will tell me what their responsibilities are as well as their rights ? If children are going hungry that is their parents fault. A decent parent would sell their arse on a street corner before their child goes hungry, or goes to school dirty. Blame the parents .. here is an idea, why don't the poor stop breeding ?
Keep pointing out that taxing the wealthy would give the government money that they are taking from projects and pensioners. Keep pointing out that their choice to not tax the wealthy makes it very obvious to the public just who Labour favours in what should be a democracy but which Labour has already trashed and shown that they are not democratic. Keep pointing it out. Don't let them think that anyone is fooled.
You seem consumed by jealousy ... would you include taxing doctors more now they've had their big hike ? Why should the rich pay for the poor ? They earned thier money fair and square
@@garethwilliams4467 I have been watching the videos by Garys Economics. I believe what he says - the inequality of wealth is the largest driver to the country's problems. It is the same in the US. Jealousy isn't accurate.
I would say that I believe from his videos Richard Murphy also sees that inequality of wealth is a major problem and you can listen to the Vermont senator Bernie Sanders also cite it as a problem.
@@WVislandia Me too. Gary is great. The Occupy movement first highlighted this problem in 2011, after the banks crashed the global economy in an orgy of fraud. Gross inequality is accelerating and creating economic stagnation and falling quality and quantity of life.
Gross inequality means it's not the 1% that are the problem, but the 0.1% or the 0.01%. We are barrelling toward techno-feudalism, where a few trillionaires own everything globally and we rent what we used to own. Every billionaire is a policy failure: this is based on the principle that it is better for society and economic health if we have 1,000 millionaires instead of 1 billionaire
@@WVislandia wow you watch videos!!! Good for you. Inequality is a good thing becasue we're not equal - if I earned it fairly why should I be forced to equalise with someone like you ?
Prioritising the people that vote labour above anything else.
The old age pension is not a benefit
I would disagree. There are vast swathes of people who never earned or contributed that much getting way more back now. That is indeed a benefit.
Legally it is a benefit, therefore the government can do as it please.
If it becomes a means tested benefit in the budget, most State Pension recipients will then qualify for Winter Fuel Allowance. The government website is updated to list eligibility as Pension Credit and means tested benefits.(which includes housing benefit,etc)
There will be people knocking on her door at no 11 regarding the theft from pensioners, does that include her own parents pensions , I have a daughter of the same age as her and she wouldn't have done that to us.
Richard i always said goverment needed reforms, we needed a party of proffessionals in their field ,people like yourself all contributing to the rebuilding and hope for Britain , we know what the less well off will get more of the same ,and more collapse in community .
When people and towns thrive ,so do the better off, so do imports and exports ,and trade , more building means more jobs,and satelite industries , i dont like this bunch one jot .
That would have been Corbyn gov. This guy was an advisor I think.
The last government was dire - this one will be even worse 😢
How many Billions do migrants cost us? Is it six? disgusting.
Migrants are a net benefit to the UK economy. They don't cost us anything, they add money in.
A drop in the ocean compared with Brexit at £100bn a year, tax evasion estimated at £35bn and all the wasted money Truss £40bn, failed test and trace £37bn, dodgy PPE contracts £8bn. The new government probably had no choice
thats only the illegals we have millions more here on spurious reasons being handed out to a lot of them are not working or have never worked
£6.4 billion a year was the last estimate
You mean refugees arriving in boats? Over 75% are ultimately granted refugee status. Govt just wastes a fortune not processing them due to underfunding, as they do with NHS. Defunding and breaking working systems is key to privatization.
The other half of the picture is we spend billions arming and funding extremists to destabilize countries like Syria, Ukraine and Taiwan. Then we spend millions more on the consequences of our imperial crimes
Absolute codswallop. The world the Maynard Keynes lived in is nothing like that world we live in. Living into your 80s is now the norm( brought lower by lifestyle illness) that are taking millions out of the workforce decades early.capitalism and the markets have decided that money should only flow upwards to the already asset rich. Ordinary folks have realised that they simply cannot afford to have children as they can barely afford private rents. We are in a death spiral. Successive governments have seen immigration as a temporary fix, unfortunately the indigenous population have rejected this through things like Brexit. It's high time the drain on our future prospects as a functioning society lost their politically motivated protection against the economically ruined inheritance THEY have bequeathed future generations.
Already un-votable next time.
Richard nobody has ever given a reason why politicians lie about government spending and gaslight ie tax payers money, national debt, how much will this cost the tax payer. Who really is in charge of the government?
Oh good grief!
Should be setting the fuel allowance cutoff point at the higher rate tax level not the very low pension credit level.
As a Pensioner - and when I have recovered from the kicking - I will not go away. I will be writing - via my MP - to Starmer, and calling for a Reeves Sacking! I would suggest that as many viewers as possible do the same. Surely though, probably not a play on Keynes - I think she more embodies Thatcher, with her Handbag Economics etc.
No point they are all in it together! They only work for the rich and the WEF not us!
@@taniayager3361do you really believe this WEF shit?
@@taniayager3361 Well, I know what you mean and of course there will be no sacking. The MSM are fawning all over it and she is taking such 'tough' decisions - oh wow - and she starts with the softest of targets. God, that's so hard.
Rachel of the Thieves !