No one under the age of 40 can afford to live anywhere south of birmingham. I am one of 8 cousins, all boys, we all come from around the south coast, only one of us still lives in the south and that's only because they are studying.
Needs some steroids of capitalism. That's hard because the UK has developed some aversion to the rich and aspiring. Ambitious people find themselves out of place.
Productivity growth requires copious amounts of education, science, engineering, infrastructure, a healthy population, good business leadership, business investment, good government and much more, eg affordable housing etc. The Tories have done nothing on any single measure as mentioned. In fact Brexit, the feather in the Tories cap, was the biggest single regressive step the UK has ever made when it comes to economic or social progress. Unfortunately the Tories book of dogma states that workers need a cross nailed to their back and whipped senseless every day while at the same time working longer hours for less pay. If fact the only thing the tories are expert in is spending other peoples money and making sure that it ends up in cronies offshore tax haven bank accounts.
In 2009 my company cut our wages by 20% so we the employees cut our productivity by 25%. The directors got big bonuses for cost saving. Everyone happy. I am sure this happened across multiple industries.
8:46 why do they have difficalty getting the right workers? Is it because a lot of them often pay the same wages they were paying the year the first iphone came out😊
The issues are everywhere. Housing is too expensive, the national infrastructure is decrepit, graduate salaries are disgustingly low, so we lose a lot of our best graduates to the USA, the only sectors that pay well must be adjacent to finance which leads to more talented graduates and workers being snapped up and leaving very little innovation and talent for the other sectors with much more growth headroom. We don't value education at all, and the UK struggles with Innovation and creating new successful products and companies. We need extreme reforms if the UK wants to get back on the right track. If we continue on this path for much longer we may never recover. So much of the country is just rotting away while every penny is pumped into London to try and keep the music playing. It can't last forever, we need to change.
Huge amounts (trillions ?) of the personal wealth in the country is used up either in housing stock or paying rent. Totally unproductive use of money. Recently eye watering sums have been transferred to big oil companies in subsidies and the stuff bought sent up the chimney with little long term benefit. We are now being asked to believe that another 5-10 years of swelling the oil companies with excess profits is going to to save us money.
I wonder if the HS2 cancellation resulted in huge Govt compensation packages to private firms as the cancellation severed the contract - imagine that is a further cost to the taxpayer when the money should have been spent on greater infrastructure and factor mobility.
It seems a major trend in developed economies that vocational training being overlooked long time, even in Germany, the technician could now get higher salary than university graduates working in office, seems to be supply and demand phenomenon after decade long misfits between talent development pipelines and what the future economy really needs
Rent. As far as I'm aware, rent payments are counted as part of GDP and have zero labour value attributed to them. This drags down overall productivity numbers as I can tell you, with absolute certainty, that the issue of low productivity doesn't come from our manufacturing sector, despite what Liz Truss claims. In fact our manufacturing sector is one thing pulling the numbers up. Maybe the Government should look at reversing Thatcherism and rebuilding it.
I live thankfully in Spain 🇪🇸 . We value Education above all , Britain under brexit saddens us so much , our economy is rising & we have very intelligent student here , once again Elche University with good news , with special no pain treatment a Professor & young students from all over the world have now made the correct auto control if insulin in diabetics , also from our Santa Pola salt lakes a compound that is successful with breast cancer , we also know that over 85% of British have no second language Spanish is my prime language now and even get by In Romanian . Not bad for a boy at Clacton County High School, failed English O level twice .Lefthanders need to learn .My poor once Great Britain Britain !
@@wafercrackerjack880 my point is this country does not reward productivity for many. You can strive for a pay-rise, but at best its going to allow you to rent somewhere slightly less crap, but is it worth the effort, you still have no security.
The real problem Worldwide is Off Shore, they estimate there is $32 Trillion stashed in off shore Banks. The owners of that money will only risk using it if there are sensible returns to be gained, otherwise they are better off leaving it where it is. Now imagine that money was put to use in the World economy.
Oh wow! Thanks a million for this! I’ve been commenting for quite some time asking for some insights, and never thought that comments are being reviewed! Over the moon
Who knew educating the population in media and tv studies as well as the history or arts, rather than real degrees in maths, science or design and engineering would be an issue now?
Training, or lack of is for me very noticeable. I’m nearly retirement age and the last proper company paid for training I did was in 2005, and that was all of 2 days. For me there are 2 standout reasons why; pretty much zero medium-long strategy (especially industrial) from Govt in the last decade or so and crap management. A management approach that we see at the very tops of Govt, utterly focused on just getting through the day or the next quarter without a negative impact on them. Can I pick up though on your comment about more early retirement - none of my grandparents or parents (and in laws) worked past 60, yet I expect most of my generation to - the reason, loss of Final Salary Pensions for the majority.
It is very difficult to make profits in the UK, thats why investment is so low. I have been in business for over 40 years and before 2000 it was a pleasure to run business, but during the Blair, Brown Governments time it became increasingly difficult due to EU regulations and higher taxes. Those have increased every year and you can see the outcome on our High Streets, they have been taxed to destruction. I will give you one example, I installed an aircon heating and cooling system in one of my High Street businesses. Then the Government charged me an extra £50 a month in business taxes for improving the property. That was 18 years ago and I have not spent a penny since and nor will I in the future.
@@irminschembri8263 Do you ever wonder why you feel poorer than you did 10 or 20 years ago ? Its all because of the failure of the EU over decades. Consider how much the EU has already declined relative to the United States. Fifteen years ago, according to the IMF, the GDP of the Eurozone was just under $14 trillion, while the U.S. economy was marginally bigger.Today, the Eurozone’s GDP is just under $15 trillion, a modest rise by any standards. But the U.S.’s GDP has roared ahead to $25 trillion, making its economy 60 per cent bigger than the Eurozone. That’s a lot of relative economic decline for the Euro area in just a decade and a half.The failure of Europe to keep pace with America has taken its toll on living standards. The average EU country is now poorer per head than every state in America bar Idaho and Mississippi. In 1990 America accounted for 25 per cent of global GDP, the EU a little above that. Today, America still accounts for 25 per cent of global GDP but the EU’s share has consistently slipped. It is now just over 14 per cent and falling. There used to be a global consensus that China would overtake America as the world’s largest economy during this decade. Goldman Sachs, which is reliably wrong on such matters, once confidently predicted that this would happen by 2026. Now it suggests 2035, if then. Other forecasters think it won’t have happened even by the middle of the century. America has outperformed the EU on every economic indicator that matters. Since 1990 the U.S. working age population has risen from 127 million to 175 million, a rise of almost 40 per cent, while Europe’s has gone from 94 million to 102 million, a rise of only 9 per cent.
No mention of my favourite cause which is ultra low interest rates. They enabled a dodgy economical environment to thrive . Otherwise we would have had the creative, destruct and rebuild version of capitalism 10 years ago. Instead we got a spivs(well connected) paradise of 200year low interest rates which kept the dodgy ,unproductive ,incompetent entities afloat and encouraged risk-free speculation in non productive assets hence a stock market and property boom producing no real GDP growth hence low productivity..
Absolutely, the Rentier Economy is eroding our productive capacity and infrastructure. Debt farming aka Financialisation has, if left to its own devices, ended up hollowing out economies. But as our government is in bed with the Financial Sector, don't expect that to be addressed any time soon. Instead, they now want to raid our pension pots, even though retirement savings are low along with our wage growth than in Europe.
I get very tired of hearing the planning system blamed by someone who patently does not understand it. The planning system is essentially the same as was introduced in 1947. How has it changed so that it has affected productivity in the last decade? What has changed is the way it is directed by politicians, who are the decision makers not planners. And they have done that because of pressure from the electorate. There is a specific problem with large scale projects but the machinery to deal with this was dismantled as soon as the Tories could, in the name of ‘small government’. In other words the problem is not too much planning: it’s too little
Basically, the market hasn't provided. Which was the governments plan. Shock horror, a government actually has to govern, to deliver good outcomes. We are being outcompeted by our neighbours, who didn't do that.
Do you ever wonder why you feel poorer than you did 10 or 20 years ago ? Its all because of the failure of the EU over decades. Consider how much the EU has already declined relative to the United States. Fifteen years ago, according to the IMF, the GDP of the Eurozone was just under $14 trillion, while the U.S. economy was marginally bigger.Today, the Eurozone’s GDP is just under $15 trillion, a modest rise by any standards. But the U.S.’s GDP has roared ahead to $25 trillion, making its economy 60 per cent bigger than the Eurozone. That’s a lot of relative economic decline for the Euro area in just a decade and a half.The failure of Europe to keep pace with America has taken its toll on living standards. The average EU country is now poorer per head than every state in America bar Idaho and Mississippi. In 1990 America accounted for 25 per cent of global GDP, the EU a little above that. Today, America still accounts for 25 per cent of global GDP but the EU’s share has consistently slipped. It is now just over 14 per cent and falling. There used to be a global consensus that China would overtake America as the world’s largest economy during this decade. Goldman Sachs, which is reliably wrong on such matters, once confidently predicted that this would happen by 2026. Now it suggests 2035, if then. Other forecasters think it won’t have happened even by the middle of the century. America has outperformed the EU on every economic indicator that matters. Since 1990 the U.S. working age population has risen from 127 million to 175 million, a rise of almost 40 per cent, while Europe’s has gone from 94 million to 102 million, a rise of only 9 per cent.
@@garyb455the roots of this decline are not recent. They were planted in fhe 60s and 70s with the welfare state making europeans lazy. Now they are proud of their lazyness and scoff ar americans for working hard. 😂 Not to mention the fact that the developing world sees europe as a joke. Countries like china and India are tearing european industry apart.
As we are in the Digital Age. Would it not be better to encourage the next generation get into Science, Technology and Mathematics? Especially in State Schools?😊
We are a country of workers who sit behind desks with the wrong training and education an very low practical skills. Infrastructure is going nowhere in the future now we have stopped HS2. The empty talk of redirecting funds to regional transportation is hilarious
Productivity is an average thing. The people in work are not working less hard. However mass immigration keeps pay low, keeps productivity low due to poor skills, and dissuades investment.
09:27 Congratulations, because few economists approach this new strategy that more and more of us are implementing: the Spaniards, the French, the Italians and the Belgians were the number ones in this field "growth in wealth rather than income (owners of houses worth 400,000 or agricultural property and earning little income taxable by their predatory states. source in French on youtube : gros patrimoine petit revenus Europe du sud, une nouvelle stratégie gagnante.
Do we know what London's productivity looks like without The City of London? Also, does London's productivity figures include cost of rents, land costs etc?
It’s not that people in this country don’t have the skills they need. The fact is , indigenous employers don’t want to employ non-indigenous people to work in their companies. I have over a decade of gaining skills and work experience in the field of Information Technology however, indigenous employers only want their own people to do the jobs. The reality is indigenous employers will only employ foreign born workers than British born workers who are descendants from other countries to do the jobs. Why? Because foreign workers are interim workers not permanent workers. Unfortunately the indigenous people just can’t stand to the sight of seeing British-born non-indigenous people working in high paid jobs especially in the field of Information Technology. Shame!😔
My 2p worth 1.Planning regulations and the LA ability to drliver 2. Health and safety risk aversion 3. Cost on cost due to privatisation 4. Lazy workforce.
Hilarious. Try again. Britons works the longest hours in Europe, have the least holidays, and are paid less than in Europe. And then they get the lowest pensions in Europe. And Europe, especially in France and Germany are more productive than us. Are we missing a trick or what?
@@BigHenFor many Britons brag about how many hours they work. Those are are the ones to watch, trying to justify how long it takes them to do not very much :))
Inflation has a greater impact on people's cost of living than a crashing stock or housing market, resulting in an immediate and tangible effect. This explains the current high level of negative market sentiment, and our need for assistance in surviving this challenging economy. The financial markets have underperformed due to fears of inflation, causing stock and bond prices to plummet. Despite sounding basic, consulting a financial advisor has enabled me to outperform the market and achieve a profit of $850,000 since June 2022, making it the ideal approach to enter the financial markets today.
I expect you're joking, but the "reverse flynn effect" is a real thing, with declining IQ among young adults in recent years. However, it has been identified in research in places like the US and Norway. Those places are not suffering from slowing productivity as much, so it doesn't seem likely to be the cause.
Why should a British born worker try harder when they feel like none of their taxes are spent on them or their families requirements? I can't see a DR. Can't get a dentist, can't get a hospital appointment, can't pay their utilities etc etc. Successive PM's (including the last unelected 2) have done nothing to help the indigenous population. Labour will be no better but will be voted in by people who will have forgotten or who were too young to remember how bad they are when in power. The whole polictical system needs a complete change and new leaders need to emerge. F.uck knows where from though. I fear for my Grandchildren.
Grow up. He needs the money. He's just had to extend his mortgage to a 40 year term. That's 15 years longer than the average. And 25k subs ≠ 25k views, and he's paid on views. Moreover, he provides a shed load of free teaching materials for GCSE & A Level Economics. All that, including making videos costs time, effort, and money. If you can do it without taking ads, then show him how.
@@BigHenFor seriously,40 years ? then he is bad economist better he stars doing something more profitable even if it is something he doesn't like to do or maybe he builds his own house,i bet it will take him less than 40 years to do
The state is bankrupt and we've become a retirement home of a country.
Many productive ambitious young people are emigrating or considering it.
No one under the age of 40 can afford to live anywhere south of birmingham. I am one of 8 cousins, all boys, we all come from around the south coast, only one of us still lives in the south and that's only because they are studying.
Do you blame them?
Needs some steroids of capitalism. That's hard because the UK has developed some aversion to the rich and aspiring. Ambitious people find themselves out of place.
Productivity growth requires copious amounts of education, science, engineering, infrastructure, a healthy population, good business leadership, business investment, good government and much more, eg affordable housing etc. The Tories have done nothing on any single measure as mentioned. In fact Brexit, the feather in the Tories cap, was the biggest single regressive step the UK has ever made when it comes to economic or social progress. Unfortunately the Tories book of dogma states that workers need a cross nailed to their back and whipped senseless every day while at the same time working longer hours for less pay. If fact the only thing the tories are expert in is spending other peoples money and making sure that it ends up in cronies offshore tax haven bank accounts.
In 2009 my company cut our wages by 20% so we the employees cut our productivity by 25%. The directors got big bonuses for cost saving. Everyone happy. I am sure this happened across multiple industries.
Exactly.
8:46 why do they have difficalty getting the right workers? Is it because a lot of them often pay the same wages they were paying the year the first iphone came out😊
The issues are everywhere. Housing is too expensive, the national infrastructure is decrepit, graduate salaries are disgustingly low, so we lose a lot of our best graduates to the USA, the only sectors that pay well must be adjacent to finance which leads to more talented graduates and workers being snapped up and leaving very little innovation and talent for the other sectors with much more growth headroom. We don't value education at all, and the UK struggles with Innovation and creating new successful products and companies.
We need extreme reforms if the UK wants to get back on the right track. If we continue on this path for much longer we may never recover. So much of the country is just rotting away while every penny is pumped into London to try and keep the music playing. It can't last forever, we need to change.
Huge amounts (trillions ?) of the personal wealth in the country is used up either in housing stock or paying rent. Totally unproductive use of money. Recently eye watering sums have been transferred to big oil companies in subsidies and the stuff bought sent up the chimney with little long term benefit. We are now being asked to believe that another 5-10 years of swelling the oil companies with excess profits is going to to save us money.
Excellent analysis, informative and comprehensive, thank you Tejvan. Please can you give us some guidelines for a solution in your next video?
I wonder if the HS2 cancellation resulted in huge Govt compensation packages to private firms as the cancellation severed the contract - imagine that is a further cost to the taxpayer when the money should have been spent on greater infrastructure and factor mobility.
It seems a major trend in developed economies that vocational training being overlooked long time, even in Germany, the technician could now get higher salary than university graduates working in office, seems to be supply and demand phenomenon after decade long misfits between talent development pipelines and what the future economy really needs
I have an adjustable desk myself, I think they are a great idea not just for the back but for making space to put stuff underneath.
Rent. As far as I'm aware, rent payments are counted as part of GDP and have zero labour value attributed to them. This drags down overall productivity numbers as I can tell you, with absolute certainty, that the issue of low productivity doesn't come from our manufacturing sector, despite what Liz Truss claims. In fact our manufacturing sector is one thing pulling the numbers up. Maybe the Government should look at reversing Thatcherism and rebuilding it.
I live thankfully in Spain 🇪🇸 . We value Education above all , Britain under brexit saddens us so much , our economy is rising & we have very intelligent student here , once again Elche University with good news , with special no pain treatment a Professor & young students from all over the world have now made the correct auto control if insulin in diabetics , also from our Santa Pola salt lakes a compound that is successful with breast cancer , we also know that over 85% of British have no second language Spanish is my prime language now and even get by In Romanian . Not bad for a boy at Clacton County High School, failed English O level twice .Lefthanders need to learn .My poor once Great Britain Britain !
If you’re under 40 and don’t own a home, what’s the point in working hard, just do the minimum.
Exactly this.
Because you won't be able to afford rent if you dont work hard.
I dont think you even watched the video
@@wafercrackerjack880 my point is this country does not reward productivity for many. You can strive for a pay-rise, but at best its going to allow you to rent somewhere slightly less crap, but is it worth the effort, you still have no security.
Cos you'll never get off the blocks, short-termer
The real problem Worldwide is Off Shore, they estimate there is $32 Trillion stashed in off shore Banks. The owners of that money will only risk using it if there are sensible returns to be gained, otherwise they are better off leaving it where it is. Now imagine that money was put to use in the World economy.
Well it's their money they made it they can do what they like with it
@mylon5227 if by made you mean stole, cheated, lied, manipulated, extorted or inherited then fair enough
@alexwood7678 I'd think the vast majority of it was accumulated that way
Oh wow! Thanks a million for this! I’ve been commenting for quite some time asking for some insights, and never thought that comments are being reviewed! Over the moon
Who knew educating the population in media and tv studies as well as the history or arts, rather than real degrees in maths, science or design and engineering would be an issue now?
Training, or lack of is for me very noticeable. I’m nearly retirement age and the last proper company paid for training I did was in 2005, and that was all of 2 days.
For me there are 2 standout reasons why; pretty much zero medium-long strategy (especially industrial) from Govt in the last decade or so and crap management. A management approach that we see at the very tops of Govt, utterly focused on just getting through the day or the next quarter without a negative impact on them.
Can I pick up though on your comment about more early retirement - none of my grandparents or parents (and in laws) worked past 60, yet I expect most of my generation to - the reason, loss of Final Salary Pensions for the majority.
This is such great analysis and a great video why doesn't it have more views!? I guess people just aren't interested in UK productivity
It is very difficult to make profits in the UK, thats why investment is so low. I have been in business for over 40 years and before 2000 it was a pleasure to run business, but during the Blair, Brown Governments time it became increasingly difficult due to EU regulations and higher taxes. Those have increased every year and you can see the outcome on our High Streets, they have been taxed to destruction. I will give you one example, I installed an aircon heating and cooling system in one of my High Street businesses. Then the Government charged me an extra £50 a month in business taxes for improving the property. That was 18 years ago and I have not spent a penny since and nor will I in the future.
Hope things get better to you now that you are not subject to the EU regulations anymore.
@@viquiben4919 Hardly, lol ! But Gary is a stout Anti-EU defender, so no pity !
@@viquiben4919 I am retired so I will not be investing ever, there is no point unless you can make profits
@@irminschembri8263 Do you ever wonder why you feel poorer than you did 10 or 20 years ago ? Its all because of the failure of the EU over decades. Consider how much the EU has already declined relative to the United States. Fifteen years ago, according to the IMF, the GDP of the Eurozone was just under $14 trillion, while the U.S. economy was marginally bigger.Today, the Eurozone’s GDP is just under $15 trillion, a modest rise by any standards. But the U.S.’s GDP has roared ahead to $25 trillion, making its economy 60 per cent bigger than the Eurozone. That’s a lot of relative economic decline for the Euro area in just a decade and a half.The failure of Europe to keep pace with America has taken its toll on living standards. The average EU country is now poorer per head than every state in America bar Idaho and Mississippi. In 1990 America accounted for 25 per cent of global GDP, the EU a little above that. Today, America still accounts for 25 per cent of global GDP but the EU’s share has consistently slipped. It is now just over 14 per cent and falling. There used to be a global consensus that China would overtake America as the world’s largest economy during this decade. Goldman Sachs, which is reliably wrong on such matters, once confidently predicted that this would happen by 2026. Now it suggests 2035, if then. Other forecasters think it won’t have happened even by the middle of the century. America has outperformed the EU on every economic indicator that matters. Since 1990 the U.S. working age population has risen from 127 million to 175 million, a rise of almost 40 per cent, while Europe’s has gone from 94 million to 102 million, a rise of only 9 per cent.
@@irminschembri8263 I just look at the evidence if the EU was a success I would be all over it
So in short, the Uk is screwed!
Let's watch the property market crash, bring it on!!
lawyers and accountants here cost like 6x what they do in Canada, doesn’t help on the investing side
when they say investment, they mean flipping property. its not really productive investment.
No mention of my favourite cause which is ultra low interest rates. They enabled a dodgy economical environment to thrive . Otherwise we would have had the creative, destruct and rebuild version of capitalism 10 years ago. Instead we got a spivs(well connected) paradise of 200year low interest rates which kept the dodgy ,unproductive ,incompetent entities afloat and encouraged risk-free speculation in non productive assets hence a stock market and property boom producing no real GDP growth hence low productivity..
Ultra low interest rates are related to point about rising wealth/assets taking investment from more productive means
Absolutely, the Rentier Economy is eroding our productive capacity and infrastructure. Debt farming aka Financialisation has, if left to its own devices, ended up hollowing out economies. But as our government is in bed with the Financial Sector, don't expect that to be addressed any time soon. Instead, they now want to raid our pension pots, even though retirement savings are low along with our wage growth than in Europe.
A standing desk would definitely improve your productivity! So…… Expecting more videos
Hi, are you believe official inflation rates? Because living expenses are not saying the same
I get very tired of hearing the planning system blamed by someone who patently does not understand it. The planning system is essentially the same as was introduced in 1947. How has it changed so that it has affected productivity in the last decade? What has changed is the way it is directed by politicians, who are the decision makers not planners. And they have done that because of pressure from the electorate. There is a specific problem with large scale projects but the machinery to deal with this was dismantled as soon as the Tories could, in the name of ‘small government’. In other words the problem is not too much planning: it’s too little
*Conclusion - People wont work hard to own nothing.
Let's talk about quality of life, rather than 'productivity'.
1: Tory government
2: Tory government
3: Tory government
...
10: Tory government
100%
Does the UK have expensive universities? If everyone wants to go to university, the demand must be pretty high.
Basically, the market hasn't provided. Which was the governments plan. Shock horror, a government actually has to govern, to deliver good outcomes. We are being outcompeted by our neighbours, who didn't do that.
Plurality voting doesnt bring its own cohesion
Like how an auction house doesnt sell in bulk
Brexit, brexit, brexit, brexit, brexit, brexit, brexit, brexit, brexit and brexit.
Do you ever wonder why you feel poorer than you did 10 or 20 years ago ? Its all because of the failure of the EU over decades. Consider how much the EU has already declined relative to the United States. Fifteen years ago, according to the IMF, the GDP of the Eurozone was just under $14 trillion, while the U.S. economy was marginally bigger.Today, the Eurozone’s GDP is just under $15 trillion, a modest rise by any standards. But the U.S.’s GDP has roared ahead to $25 trillion, making its economy 60 per cent bigger than the Eurozone. That’s a lot of relative economic decline for the Euro area in just a decade and a half.The failure of Europe to keep pace with America has taken its toll on living standards. The average EU country is now poorer per head than every state in America bar Idaho and Mississippi. In 1990 America accounted for 25 per cent of global GDP, the EU a little above that. Today, America still accounts for 25 per cent of global GDP but the EU’s share has consistently slipped. It is now just over 14 per cent and falling. There used to be a global consensus that China would overtake America as the world’s largest economy during this decade. Goldman Sachs, which is reliably wrong on such matters, once confidently predicted that this would happen by 2026. Now it suggests 2035, if then. Other forecasters think it won’t have happened even by the middle of the century. America has outperformed the EU on every economic indicator that matters. Since 1990 the U.S. working age population has risen from 127 million to 175 million, a rise of almost 40 per cent, while Europe’s has gone from 94 million to 102 million, a rise of only 9 per cent.
Brexit happened in 2008?
@@garyb455 5:32
@@AdamWebb1982 Only according to Gary :)) !
@@garyb455the roots of this decline are not recent. They were planted in fhe 60s and 70s with the welfare state making europeans lazy. Now they are proud of their lazyness and scoff ar americans for working hard. 😂
Not to mention the fact that the developing world sees europe as a joke. Countries like china and India are tearing european industry apart.
Bluntly We the public are not victims of circumstances, more of victims of the poor choices made by government
As we are in the Digital Age. Would it not be better to encourage the next generation get into Science, Technology and Mathematics?
Especially in State Schools?😊
We are a country of workers who sit behind desks with the wrong training and education an very low practical skills. Infrastructure is going nowhere in the future now we have stopped HS2. The empty talk of redirecting funds to regional transportation is hilarious
Real productivity is not the financial sector.
Netflix while you work has a lot to do with it
The Currency isn't worth the effort. Government saw to that.💀
The main problem is taxation, lack of savings, monopolised fiat money, central banking and absurd levels of government interference.
Productivity is an average thing. The people in work are not working less hard. However mass immigration keeps pay low, keeps productivity low due to poor skills, and dissuades investment.
its illegal thats 1 at d3bt buy age 2 sell bi polar or split the risk
If the UK was a company, it would be Kodak. No investment in future income streams.
09:27 Congratulations, because few economists approach this new strategy that more and more of us are implementing: the Spaniards, the French, the Italians and the Belgians were the number ones in this field "growth in wealth rather than income (owners of houses worth 400,000 or agricultural property and earning little income taxable by their predatory states. source in French on youtube : gros patrimoine petit revenus Europe du sud, une nouvelle stratégie gagnante.
All of these can be offset by a solid agreed written constitution to stop the political stalwarts in their tracks.
heyy, you have 1st(?) product ad! Congratulations!
Torys, taxes, simple. Move your money OUT of the UK if you can
Do we know what London's productivity looks like without The City of London? Also, does London's productivity figures include cost of rents, land costs etc?
Yes. They include everything. It is pointless to exclude City because no one really lives there. The productivity is divided across commuter belt.
I thought they included illegal drug sales in gdp now 😂
Why work for a holes that make lots and lots of money. Better just take your time. So the fault of the bosses not the workers.
It’s not that people in this country don’t have the skills they need. The fact is , indigenous employers don’t want to employ non-indigenous people to work in their companies. I have over a decade of gaining skills and work experience in the field of Information Technology however, indigenous employers only want their own people to do the jobs.
The reality is indigenous employers will only employ foreign born workers than British born workers who are descendants from other countries to do the jobs. Why? Because foreign workers are interim workers not permanent workers. Unfortunately the indigenous people just can’t stand to the sight of seeing British-born non-indigenous people working in high paid jobs especially in the field of Information Technology.
Shame!😔
What went wrong? hmm. Tories!! Tories feathering their own nests whilst screwing over the country
So how do you explain the dip two years before they were in power?
@@AdamWebb1982 Corrupt banking sysrem
gordon brown enters the room.....
@@888ssss Sub prime mortgages from America being moved on as AAA secured loans, which crashed the banks. Brown had sweet FA to do with it .
gordon browns bank bailout. selling off the gold. changing bank regulations. yep. the uni party...@@buntyjoy1800
Taxes.
If you vote Tory you vote for austerity. If China voted for austerity it would eventually stagnate like the UK. Therein the lesson.
My 2p worth
1.Planning regulations and the LA ability to drliver
2. Health and safety risk aversion
3. Cost on cost due to privatisation
4. Lazy workforce.
Hilarious. Try again. Britons works the longest hours in Europe, have the least holidays, and are paid less than in Europe. And then they get the lowest pensions in Europe. And Europe, especially in France and Germany are more productive than us. Are we missing a trick or what?
@@BigHenFor many Britons brag about how many hours they work. Those are are the ones to watch, trying to justify how long it takes them to do not very much :))
Inflation has a greater impact on people's cost of living than a crashing stock or housing market,
resulting in an immediate and tangible effect. This explains the current high level of negative market
sentiment, and our need for assistance in surviving this challenging economy. The financial markets have
underperformed due to fears of inflation, causing stock and bond prices to plummet. Despite sounding basic,
consulting a financial advisor has enabled me to outperform the market and achieve a profit of $850,000
since June 2022, making it the ideal approach to enter the financial markets today.
Have considered the decline in IQ among the British population, and it's affect on productivity?
I expect you're joking, but the "reverse flynn effect" is a real thing, with declining IQ among young adults in recent years. However, it has been identified in research in places like the US and Norway. Those places are not suffering from slowing productivity as much, so it doesn't seem likely to be the cause.
UK youth don't seem to want to work as hard nowadays. Old fashioned values have gone down the gurgler.
Need to spend fewer hours in the office and reduce post-work drinks.
Why should a British born worker try harder when they feel like none of their taxes are spent on them or their families requirements? I can't see a DR. Can't get a dentist, can't get a hospital appointment, can't pay their utilities etc etc. Successive PM's (including the last unelected 2) have done nothing to help the indigenous population. Labour will be no better but will be voted in by people who will have forgotten or who were too young to remember how bad they are when in power. The whole polictical system needs a complete change and new leaders need to emerge. F.uck knows where from though. I fear for my Grandchildren.
25K subscribers and ads already ?
time to unsubscribe
Grow up. He needs the money. He's just had to extend his mortgage to a 40 year term. That's 15 years longer than the average. And 25k subs ≠ 25k views, and he's paid on views. Moreover, he provides a shed load of free teaching materials for GCSE & A Level Economics. All that, including making videos costs time, effort, and money. If you can do it without taking ads, then show him how.
@@BigHenFor seriously,40 years ?
then he is bad economist
better he stars doing something more profitable even if it is something he doesn't like to do
or maybe he builds his own house,i bet it will take him less than 40 years to do
Work hard - pay for the migrants and their discount on council homes 🤷🏽♂️