The UK is a carehome, the UK goverment is a carehome operator, local councils are the carehome staff. Turning the UK into a carehome is bankrupting the UK.
If you're not educating and training people to be productive, then make housing so expensive to boost GDP on paper but that everyone spends more than half of their salaries on rent, then no wonder the country is turning into a carehome. I left the UK in 2020 back to my country, each passing year the UK makes me happy i made that decision
Actually the average age in the Uk at 40 is younger than most other European countries and we spend a lot less on care and pensions for the elderly than most of them too. The problems are many but too many old people is much less of an issue here than elsewhere.
The UK’s tax authority has not fined a single “enabler” of offshore tax evasion or non-compliance in five years despite landmark powers introduced in 2017, new figures reveal. HMRC has been under pressure to estimate the size of the tax gap after figures disclosed to the independent thinktank Tax Policy Associates by HMRC in September 2021 revealed that UK taxpayers held nearly £570bn in tax havens. HMRC estimates that it collects 95% of all the tax owed in the UK, but the remaining 5% accounted for about £36bn in lost revenue in 2021-22.
I was working on Wall Street in NYC in the 1990s and early 2000s, when the talk of the town was the EU and the UK. Everyone wanted a slice of the EU and the road to that slice went right through England. American companies and companies globally started repositioning themselves, using the UK as a diving platform from which to enter the EU. Entire departments packed up and move to the UK, people were given the option to move with it or get left behind. I remember when our datacenter migrated to the UK, a big fancy building in Canary Wharf. Then came Brexit and exit stage left.
Let's not forget the legendary wastage of money in the public sector. Its fine saying the govt spends x or y on healthcare, police or whatever, but how much of that goes up in smoke through bureaucracy and non-jobs?
The UK is an ageing society. You cannot look at how things were run in the past to find ideal solutions. New ones need to be found. You cannot have a massive amount of retirees vs the past but expect services to remain where they were. However I do agree that government overreach is a problem. But is any government in the UK running on reducing government involvement in your lives?
Pensioners can't expect to retire and live a comfy life on the taxes of the young. Carehomes are so expensive and pensioners need to pay more in their houses, giving up their pensions to pay for it and everyone needs to be told that living to 90 is a real posibility and it's extremely expensive!
This is only half true. Yes, there are fewer working age people, but we are also far more productive per capita than we used to be. If certain things like care homes were nationalised it would be cheaper over all because of the economy of scale.
The UK needs an ID/Health card system. Nothing should happen without it. Then we have more control over spending. We need to stop signing everyone off with mental illness too, it is becoming a national sport. We need a little control, and we seem to be giving it all up. Very interesting examination of the number one question that people are asking these days.
Human has a tendency to inactivity and, to be it straight, laziness. We can't assume that everyone is being honest and getting what they need, instead of what they want. People can easily fake mental health issues, not doing anything and are entitled to all sorts of benefits. The current welfare schemes will kill this nation in this century. Things need to be fixed and Brits need to work harder, not less.
government helps landlords get their rent on time. Social housing has been in decline for decades, so councils can't get the rents. Restore mass social housing or face downwards spiral. Private rented sector should be a tiny minority and taxed very heavily, but we have the opposite.
@@swojnowski453 I agree, but they won't do it because all the parties subscribe to the same economical fallacy - I said on another video on another channel, all they will do is change the 10 to a 12 and the 45 to a 46; government are lazy and incapable of doing what we regard as work, they tinker and that's all they will do until eventually the system collapses and someone does some actual work.
Thanks for that really good analysis. It sounds like the difference between the approaches is difference between paying the absolute minimum necessary and getting something that just about gets the job done but feels grotty and paying more to get something that does the job well and feels a lot nicer. I'd be interested in knowing why the USA seems to have escaped the decline in economic growth that seems to affected the UK and Europe and if there is anything the UK and Europe can learn from this.
I'm not convinced that the USA has escaped, its just a bit behind us. There have been lots of recent videos on YT about US job layoffs. recruitment freezes and so on. There was one today about MacDonald's there running out of money because customers can't afford to eat out so often. Other indicators are the declining futures price of petrol, and industrial metals like copper. With the Chinese economy on the slide as well, I wouldn't be surprised if we end up with some sort of global recession which will make the UK situation even harder to deal with. We are all doomed.
It's because they, surprisingly, still believe in government investment at least a bit. Look at the CHIPS act. As far as I know there's no equivalent to that in the UK. We categorically refuse to invest in our own industries. All we do is tinker with things to try to encourage private investment, which doesn't work when business confidence is so low. And it's low because the government refuses to invest first. Contrary to market orthodoxy, government investment can and does crowd IN private sector investment, especially after a down turn like we had in 2008. But instead of investing they chose to cut based on a single, and now debunked, research paper. It's honestly embarrassing. Imagine basing an entire economic strategy on a single researcher.
We are spending over £8b on "irregular" migrants every year. That is not the cause of our problems, but it is a pretty significant representation of why we are where we are. Lawyers and politicians are getting rich, everyone else is getting rinsed.
This is utter nonsense Migrants have always been a net financial benefit because they pay more in taxes than they consume in benefits Check for yourself
This is the problem with UK politics. We need parties to either set out the case for Denmark model or set out the case for a US model and then deliver. It seems the UK is not capable of doing anything these days and that has resulted in stagnation
Get council houses built and many of our problems will be solved. Reduce housing costs and more people will be able to afford private pensions and private healthcare.
Partly right. My sister lives in Waterlooville and it is under Winchester. I thought Winchester was a unitary authority, but it is part of Hampshire Council
The last generation borrowed to keep their taxes low and now it's the workers of today who are paying for their retirement. The interest on the debt alone is more than our entire defense budget. I wouldn't mind paying more tax if I though it was an investment in the future but it would be spent maintaining the triple lock for the same generation that squandered the North Sea oil profits and voted to borrow. All while the retirement prospects for today's workers look to be non existent.
Surely it's normal for the richest council areas also to have the most debt, since they have a higher capacity to borrow. The problem is that you need to increase your population and output in order to continue to service that debt sustainably. If you have a load of debt *and* expenditure rising faster than revenue, *then* you have a problem. Places like Hampshire, as you describe, need to grow their working-age population.
You can't beat something that that grows exponentially with something that grows linearly longer term. Debt longer term is something that will break any neck. Once you in it, you are on your way to collapse. Debt cancellation is the only way out then. Increasing number of people will not help. What needs doing is directing rents to council's hands rather than to private ones. If not done, collapse will follow ...
The biggest problem with our government is to tax more, and to continue taxing us more, it has to waste more aswell! There is no obligation for other tax payers to pay for people incompetence! It has no obligation to fund other peoples lifestyle!
There is no such thing as people's incompetence. Our power structures are all trees. Only 10% succeeds, the rest are losers. It is not the people, it is the system. Those at the top will always say, you are not at the top because you are incompetent, the truth is there is no room for great majority of people there. As you reach 40s or 50s you are no longer able to compete against most younger people, unless you are in power structure already. The only thing that counts is how deep up the ass of those who have power you have gone to get what you want. Most of your incompetent ones, just do not do that, because not many humans enjoy flowing through shit half of their life.
The the trendlines on the charts misleading ? Economic conditions changed dramatically as a result of the credit crunch in 2007-2009. There appears to be one trend rate up to this and, unsurprisingly, a differing rate after.
The government should be brave and make these difficult decisions now, scrapping the triple lock and cutting welfare spending. The problem with the post 2010 austerity is that it was prolonged over a decade, I think people will understand and tolerate austerity if is implemented over a short period of time rather than prolonged period of decline. For example, between 2010-2012 spending should have been cut back to 2007 levels as a share of GDP, then given real terms increases in the following years. Similarly, between 2021-2023 spending should have returned to 2019 levels as a share of GDP and we would now be talking about increasing investment without raising taxes. This would have been a lot easier if the government dealt with recessions with one-off cash injections, rather than core departmental spending increases.
“I repeat my prophecy England will not only not be able to stop Marxism but its own development will inevitably follow the course of this degenerative disease" Austrian painter 1945
It’s an interesting problem. I think the issue is the politics and everyone making different decisions. Rishi spent £500m on Rwanda scheme and Kier cancelled it. So £500m wasted? Why do we fund care services, can pensions cover this? The NHS is a nice idea, badly managed and very wasteful with spend. £10 billion on unusable PPE. I wonder if UK would be better off with just one decision maker and removal of the government. So if someone says deport everyone who came here via boats, we don’t have a million policies, rules, lawyers blocking this.
"I wonder if UK would be better off with just one decision maker and removal of the government" Your other name would not be Ms Truss by any chance? 😀😀😀
I second this claim. As a migrant who worked as a teacher in my home country, it took me 11 months to get my QTS here with DfE, which people say it's the fastest. My application was just sitting in the queue gathering dust for 10 months as I received email asking for supplementary documents and further verification in month 10. Beforehand, it took a week to respond to my enquiry with no specific details or progress at all. Honestly, in my home country, emails are mostly answered within 24 hours, both in private and public sectors. Other examples include Land Registry (3 months in my home country vs 1-2 years), passport (2 weeks in my home country vs 3 months here), fixing poleholes (almost never had one vs forever to fix here)... the list goes on and on The bureaucracy of the UK government makes things really inefficient. In the end, the citizens and our economy suffer.
@@altechuk return of feudalism will definitely make things better... and you're paying 50% of your income in tax because the rich can afford best accountants who can use all the loopholes and get them to pay 0 in tax revenue..
@@krzysiukrul1183 And what is the current idiot in charge of the exchequer doing.... raising them for me again!! You seem to think Labour is not corrupt
Stop hiring those incompetent and unqualified managers and CEOs and ministers who think sitting on government jobs is a safe haven and doesn’t need performance or any pressure, and still rake in hundred of thousand annual in compensation package. Start there and the productivities will increase. Everyone should be performance based and out the door is couldn’t keep up.
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The UK is a carehome, the UK goverment is a carehome operator, local councils are the carehome staff.
Turning the UK into a carehome is bankrupting the UK.
If you're not educating and training people to be productive, then make housing so expensive to boost GDP on paper but that everyone spends more than half of their salaries on rent, then no wonder the country is turning into a carehome.
I left the UK in 2020 back to my country, each passing year the UK makes me happy i made that decision
The Tories broke Britain with their stupid Brexit
@@blimbag No, the trend has been clear for ages; this was going to happen, Brexit or not.
its a gulag
Actually the average age in the Uk at 40 is younger than most other European countries and we spend a lot less on care and pensions for the elderly than most of them too. The problems are many but too many old people is much less of an issue here than elsewhere.
The UK’s tax authority has not fined a single “enabler” of offshore tax evasion or non-compliance in five years despite landmark powers introduced in 2017, new figures reveal. HMRC has been under pressure to estimate the size of the tax gap after figures disclosed to the independent thinktank Tax Policy Associates by HMRC in September 2021 revealed that UK taxpayers held nearly £570bn in tax havens. HMRC estimates that it collects 95% of all the tax owed in the UK, but the remaining 5% accounted for about £36bn in lost revenue in 2021-22.
Mind Your own business.
I was working on Wall Street in NYC in the 1990s and early 2000s, when the talk of the town was the EU and the UK. Everyone wanted a slice of the EU and the road to that slice went right through England. American companies and companies globally started repositioning themselves, using the UK as a diving platform from which to enter the EU. Entire departments packed up and move to the UK, people were given the option to move with it or get left behind. I remember when our datacenter migrated to the UK, a big fancy building in Canary Wharf. Then came Brexit and exit stage left.
Let's not forget the legendary wastage of money in the public sector. Its fine saying the govt spends x or y on healthcare, police or whatever, but how much of that goes up in smoke through bureaucracy and non-jobs?
The UK is an ageing society. You cannot look at how things were run in the past to find ideal solutions. New ones need to be found.
You cannot have a massive amount of retirees vs the past but expect services to remain where they were.
However I do agree that government overreach is a problem. But is any government in the UK running on reducing government involvement in your lives?
Pensioners can't expect to retire and live a comfy life on the taxes of the young.
Carehomes are so expensive and pensioners need to pay more in their houses, giving up their pensions to pay for it and everyone needs to be told that living to 90 is a real posibility and it's extremely expensive!
This is only half true. Yes, there are fewer working age people, but we are also far more productive per capita than we used to be. If certain things like care homes were nationalised it would be cheaper over all because of the economy of scale.
im not old though.
@IshtarNike so your solution to government overreach is more government overreach...
The UK needs an ID/Health card system. Nothing should happen without it. Then we have more control over spending. We need to stop signing everyone off with mental illness too, it is becoming a national sport. We need a little control, and we seem to be giving it all up. Very interesting examination of the number one question that people are asking these days.
nope
Human has a tendency to inactivity and, to be it straight, laziness. We can't assume that everyone is being honest and getting what they need, instead of what they want.
People can easily fake mental health issues, not doing anything and are entitled to all sorts of benefits.
The current welfare schemes will kill this nation in this century. Things need to be fixed and Brits need to work harder, not less.
Its not called Benefits Britain for no reason
government helps landlords get their rent on time. Social housing has been in decline for decades, so councils can't get the rents. Restore mass social housing or face downwards spiral. Private rented sector should be a tiny minority and taxed very heavily, but we have the opposite.
@@swojnowski453 I agree, but they won't do it because all the parties subscribe to the same economical fallacy - I said on another video on another channel, all they will do is change the 10 to a 12 and the 45 to a 46; government are lazy and incapable of doing what we regard as work, they tinker and that's all they will do until eventually the system collapses and someone does some actual work.
Thanks for that really good analysis. It sounds like the difference between the approaches is difference between paying the absolute minimum necessary and getting something that just about gets the job done but feels grotty and paying more to get something that does the job well and feels a lot nicer.
I'd be interested in knowing why the USA seems to have escaped the decline in economic growth that seems to affected the UK and Europe and if there is anything the UK and Europe can learn from this.
on the basis it is the world's reserve currency, so it can easily throw money about.
I'm not convinced that the USA has escaped, its just a bit behind us. There have been lots of recent videos on YT about US job layoffs. recruitment freezes and so on. There was one today about MacDonald's there running out of money because customers can't afford to eat out so often. Other indicators are the declining futures price of petrol, and industrial metals like copper.
With the Chinese economy on the slide as well, I wouldn't be surprised if we end up with some sort of global recession which will make the UK situation even harder to deal with. We are all doomed.
It's because they, surprisingly, still believe in government investment at least a bit. Look at the CHIPS act. As far as I know there's no equivalent to that in the UK. We categorically refuse to invest in our own industries. All we do is tinker with things to try to encourage private investment, which doesn't work when business confidence is so low. And it's low because the government refuses to invest first. Contrary to market orthodoxy, government investment can and does crowd IN private sector investment, especially after a down turn like we had in 2008. But instead of investing they chose to cut based on a single, and now debunked, research paper. It's honestly embarrassing. Imagine basing an entire economic strategy on a single researcher.
@@IshtarNike
Milton Freedman economics
High property prices do not equal affluence, it just drains the other parts of the economy.
too late now.
yes we make very bad use of our private investments housing is an example of this.
We are spending over £8b on "irregular" migrants every year.
That is not the cause of our problems, but it is a pretty significant representation of why we are where we are.
Lawyers and politicians are getting rich, everyone else is getting rinsed.
This is utter nonsense
Migrants have always been a net financial benefit because they pay more in taxes than they consume in benefits
Check for yourself
This is the problem with UK politics. We need parties to either set out the case for Denmark model or set out the case for a US model and then deliver. It seems the UK is not capable of doing anything these days and that has resulted in stagnation
I wonder where all that money went from the deeply discounted sale of council houses? It certainly wasn't back in to replacement properties.
the sale of council houses was a public finance disater we have spent far more on housing benefit since.
As you say. Govt getting bigger but we get less. That's the problem and solution. Cost of oversized govt is too big. Solution smaller govt
Get council houses built and many of our problems will be solved. Reduce housing costs and more people will be able to afford private pensions and private healthcare.
The problem being the next Con government will sell them off, creating a new generation of Con voters but cycling the problem back to the beginning.
The aim of the state is to either work for the state, or live off it.
Either way you are dependant on the state which is exactly what they want.
Very interesting -
wonder why you left out Brexit as a cause of reduced growth ?
Very interesting segment nonetheless
Portsmouth isn’t under Hampshire Council. PCC is separate and the northern areas like Waterlooville are Winchester Council
Waterlooville is within the "Havant Borough" local authority (not the Winchester local authority) and is also under Hampshire County Council.
Partly right. My sister lives in Waterlooville and it is under Winchester. I thought Winchester was a unitary authority, but it is part of Hampshire Council
That net debt interest seems too much for a budget, in my opinion. I am sure it makes the lenders happy.
The last generation borrowed to keep their taxes low and now it's the workers of today who are paying for their retirement. The interest on the debt alone is more than our entire defense budget. I wouldn't mind paying more tax if I though it was an investment in the future but it would be spent maintaining the triple lock for the same generation that squandered the North Sea oil profits and voted to borrow. All while the retirement prospects for today's workers look to be non existent.
Surely it's normal for the richest council areas also to have the most debt, since they have a higher capacity to borrow. The problem is that you need to increase your population and output in order to continue to service that debt sustainably. If you have a load of debt *and* expenditure rising faster than revenue, *then* you have a problem. Places like Hampshire, as you describe, need to grow their working-age population.
You can't beat something that that grows exponentially with something that grows linearly longer term. Debt longer term is something that will break any neck. Once you in it, you are on your way to collapse. Debt cancellation is the only way out then. Increasing number of people will not help. What needs doing is directing rents to council's hands rather than to private ones. If not done, collapse will follow ...
The biggest problem with our government is to tax more, and to continue taxing us more, it has to waste more aswell! There is no obligation for other tax payers to pay for people incompetence! It has no obligation to fund other peoples lifestyle!
There is no such thing as people's incompetence. Our power structures are all trees. Only 10% succeeds, the rest are losers. It is not the people, it is the system. Those at the top will always say, you are not at the top because you are incompetent, the truth is there is no room for great majority of people there. As you reach 40s or 50s you are no longer able to compete against most younger people, unless you are in power structure already. The only thing that counts is how deep up the ass of those who have power you have gone to get what you want. Most of your incompetent ones, just do not do that, because not many humans enjoy flowing through shit half of their life.
Let’s be honest, paying people for existing. That’s how social democracy has been running and now they can’t stop but they must.
they have bred a whole generation of dependents. lol.
The the trendlines on the charts misleading ?
Economic conditions changed dramatically as a result of the credit crunch in 2007-2009. There appears to be one trend rate up to this and, unsurprisingly, a differing rate after.
It seems social democracy also doesn't work
you pay my bills, ill pay your bills. never works.....
At 9m10 - your graph of government spending ;
Why did you leave out defence/arms spending ?
For some odd reason I always thought Hampshire was an inland county, never realised Portsmouth was there. You learn something new everyday!
i always thought sussex was in scotland.
The government should be brave and make these difficult decisions now, scrapping the triple lock and cutting welfare spending. The problem with the post 2010 austerity is that it was prolonged over a decade, I think people will understand and tolerate austerity if is implemented over a short period of time rather than prolonged period of decline. For example, between 2010-2012 spending should have been cut back to 2007 levels as a share of GDP, then given real terms increases in the following years. Similarly, between 2021-2023 spending should have returned to 2019 levels as a share of GDP and we would now be talking about increasing investment without raising taxes. This would have been a lot easier if the government dealt with recessions with one-off cash injections, rather than core departmental spending increases.
Another excellent video, you are doing great work helping people understand the real problems the UK faces.
Labour will make this look like a childs play.
“I repeat my prophecy England will not only not be
able to stop Marxism but its own development will
inevitably follow the course of this degenerative
disease" Austrian painter 1945
It’s an interesting problem. I think the issue is the politics and everyone making different decisions. Rishi spent £500m on Rwanda scheme and Kier cancelled it. So £500m wasted? Why do we fund care services, can pensions cover this? The NHS is a nice idea, badly managed and very wasteful with spend. £10 billion on unusable PPE. I wonder if UK would be better off with just one decision maker and removal of the government. So if someone says deport everyone who came here via boats, we don’t have a million policies, rules, lawyers blocking this.
"I wonder if UK would be better off with just one decision maker and removal of the government" Your other name would not be Ms Truss by any chance? 😀😀😀
I second this claim.
As a migrant who worked as a teacher in my home country, it took me 11 months to get my QTS here with DfE, which people say it's the fastest. My application was just sitting in the queue gathering dust for 10 months as I received email asking for supplementary documents and further verification in month 10. Beforehand, it took a week to respond to my enquiry with no specific details or progress at all.
Honestly, in my home country, emails are mostly answered within 24 hours, both in private and public sectors.
Other examples include Land Registry (3 months in my home country vs 1-2 years), passport (2 weeks in my home country vs 3 months here), fixing poleholes (almost never had one vs forever to fix here)... the list goes on and on
The bureaucracy of the UK government makes things really inefficient. In the end, the citizens and our economy suffer.
Poor planing ….
If only modern monetary theory would be given more attention and heed, the uk really could crawl its way out of this nightmare
Every western country needs a Milei
Milei needs fools to believe in the nonsense he is proposing.
to make things even worse? genius idea
@@krzysiukrul1183 How could it be worse? We paying over 50% of our income so Keir can go to a Taylor Switft concert
@@altechuk return of feudalism will definitely make things better... and you're paying 50% of your income in tax because the rich can afford best accountants who can use all the loopholes and get them to pay 0 in tax revenue..
@@krzysiukrul1183 And what is the current idiot in charge of the exchequer doing.... raising them for me again!!
You seem to think Labour is not corrupt
Stop hiring those incompetent and unqualified managers and CEOs and ministers who think sitting on government jobs is a safe haven and doesn’t need performance or any pressure, and still rake in hundred of thousand annual in compensation package. Start there and the productivities will increase. Everyone should be performance based and out the door is couldn’t keep up.
This winter I will be forced to play Jimmy Starmer's Heating or Eating Games - the region with the most dead pensioners wins.