Rising energy costs and clawbacks on government pandemic benefits are leading to what many see as a looming cost-of-living crisis in the UK.
But the man in charge of the purse strings is warning that the UK’s pandemic spending comes at a cost to future generations.
Speaking at the annual conference of the ruling Conservative Party, Finance Minister Rishi Sunak said it would be immoral to keep loading debt onto future generations. He said it was also time to raise taxes.
Al Jazeera’s Paul Brennan reports from Manchester.
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#UK #Economy #COVID
losers!! the poor are losers!!!!
Not only U.K. needs a modern day Guy Fawkes it needs a Robin Hood to steal from the rich and give to the poor.
You mean inflation
Loansharks breaking my legs – no biggie. Just so long as no EUROPEANS tell me what I can’t do.
Ah, but they will keep voting for the corrupt incompetent Tories because they feed them the lie about English greatness. lol.
C19 virus is cumulative and permanently stay at human body’s T-Cell then cause it malfunction to replicate, destroy and spread~ even you have fully recovered or fully vaccinated. Currently vaccine is incompetent due to vaccine maker adjust to be safe, so the victims rate is drop after vaccination. Litigation is applicable now after politicians fully approve the vaccine. This is great liberty status evolution. A lot of people having long term serious reaction even death in vaccination before, and the politicians still do not want to tell the truth.
Insignificant problem compared to the concerns in the South China Sea
Its booming economy..
Fastest growing economy in 2021 and forecast for the same in 2022.
Well seeing the dramatic rise of poverty and increasing debt of the population I can’t see much evidence of growth. Who is getting all this increased wealth?
@Edward Bernthal
Compared to others who locked down and stopped their economy. Re-starting from flat is difficult.
@Paul Hancock not sure I catch your meaning here.
The uk is a ship which is sinking fast and its government tries to divert people’s attention to the tension in the South China Sea. But the people are suffering and the poverty is rising. If the government does not alter its policy and keep spending money to playing ‘imagined war’ with China, the inflation will ravage the country and the people will suffer greatly. The economic collapse is not far away.
The UK will not collapse simply because the elites we have running the government have too much money invested and stashed away. They will punish the poor, take money away from them and everything will be more expensive but collapse? Like total all out anarchy collapse? nope won’t happen. Things will get tough but they won’t collapse, too many elites have too much to lose to make that happen and the most important thing to them above anything else is to hold onto power. Whether it’s Labour, Conservative, whoever, it’s about holding onto the power. If they allow the country to collapse, they got nothing and it’s game over. Yes there will be suffering, yes there will be job losses and reposessions of property but total collapse? No WAY!! The government has increased minimum wage, this will mean far less lower paid jobs because employers who hire these people will not want to pay more in wages. The only way the system would collapse is if everyone stopped spending and most people can’t stop.
Upto 2020, Brexit & save the £ sounded so nice. 2021 onwards, do we blame China etc. etc. for worst to come? Or shall we consider begging EU to accept us back? Looking at present lot’s track record, blame China etc. is the best career option.
@P deon Hello 👋
@George Washington what about the other countries that are now becoming very Eurosceptic?
What happens when they see the light & leave?
@P deon bonjour
@Naeem Chowhdary hi there
Hello 👋
Be careful what you vote for.
Another day another blessing from 👆 on YouTube thanks for the successful deal done
They shouldn’t worry, their former colonies would be pumping in slush funds using Brit run tax havens.
Winter Is Coming. You will freeze and you will die.
The government has trillions to spend on war but no money for the homeless.
🙉😁😆🤣
Here are some spending habits per year which the UK could cut down on:
Home improvements/DIY- £86.6 billion
Cigarettes/smoking- £20 billion
Gambling- £15 billion
Thrown away food- £10.2 billion
Litter/rubbish (cost of clearing up)- £1 billion
Good idea, stop the home improvements, a bucket under the hole in the roof works really well.
They always slam poor people, never the rich.
Without the rich you have no job
Sadly it’s because they hate poor people.
@Stock Market Aristocrat doesn’t mean that they can’t pay their fair share of taxes. The UK is a class based system, it’s very hard for people to move between classes. The really rich hate an egalitarian society…oh and I’m not poor…..
@Bera Doing Stuff Fair point but still they earned their share of fortune. In the UK you can easily move across classes with the right mindset and Knowledge. Im an example that grew up in a working class family to managing just over 6 figure AUM portfolio no cap. And i pay my fair share.
Get a job or two jobs and stop depending on Gov’t handout
Guess who is next?
Take your Brexit and max it 😂
Now they have vaxxxed most adults in the uk they don’t give a dam about the poor in this country
Scroungers love a handout but complain when it’s time to pay the man back? Screw them I’m starting a loan shark business
I hope your clients give you what you deserve.
What about the royal scroungers?
If the government didn’t lockdown the country for a lie, we wouldn’t be in this mess. The planned destruction of the West’s middle class.
How can anyone be so dumb, do you really think the UK lockdown was for a lie, what about France, Germany, Italy …… so on and so on. I hope you never get covid my dude, for some its brushed off easily, for others they are simply fu***d
Still UK sent costly dumb ships to S.E.A to please its master USA.
Weren’t the English crying for “their jobs” !!???
Why are companies struggling to fill up vacancies!?
Because a lot of employers are actually very lazy. They want to pay as little as possible for as much work as possible. Either that or they don’t want to take the time to train anyone, they only want people who already have several years worth of experience.
So an Indian will run UK now? Lord save us
Fucki ng build back better
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Effing scam bot!
Brexit baby!
Pmsl these people in power are complete twats
Privatize the profits! Socialize the losses!
Boris, Tory’s and Rishi cutting costs for the economy
UK will die soon
How so?
Comrade Mao one time said ” It is always dark before it is pitch black “
No need for concern, britain is leveling up to the 1970s. More shortages coming.
Thanks God they left the Union, we won’t have to support them
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I have been scammed severally and it really hurts
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Move to somewhere else in the EU. Oh wait, you Brexited LOL!
They should go to Canada
@Arusha Nioshaka
Same as The UK!
They thought they will be indestructible from their xenophobic decision of Brexiting 😂
How is brexit a xenophobic decision?? You are clearly clueless, brexit is not about getting away from the people of Europe it’s about getting away from the bureaucracy in Europe that costs tax payers millions a year for the providing of extra red tape and more taxes. The high rising of prices is due to covid and i think you know that.
@Jack Northwood UK is already paying more to the EU with brexit than before 😂😂😂😂😂
It’s happening in the. U S same as hear it’s all planed
there are those that want to usher in the new world order
This is the beginning of the new “Green Economy”. The war on carbon dioxide is a war on the poor. Now that they are running out of people to destroy the problem is coming to the UK.
Rishi: Our national debt is almost 800% of GDP (0:33).
Greece was declared a bankrupt state when hit “merely” 250% of theirs.
Glad that Rishi is being honest.
Have mixed emotions, however.
If you listen again he actually said “Our national debt is almost A 100% of GDP”
Good old Nigel free at last
How many trillions in the tax havens now?….
The way the World Works, Poor People don’t matter, only the Wealthy do.
Not empire any more.
Well the U.S and England are both destroying themselves from within.
Scotland and her people are leaving the English to their offshore *anker tax evasion Brexit and dissolving our political union with England called Great Britain to join the EU.
The hypocrisy. Rather than going after the off shore money, they go for the 20 pound benefit. Can’t believe they have the nerve to come out and say this.
MAKING THE POOR FOOT THE BILL!
As usual
They can’t
Enjoy Independence!!! Brexiteers ready for more joy
The funny thing is, that a majority of poor people voted to leave. Now 10 years , to go back to normality again. Thank you locals.
They were tricked, the politicians and media used a play on words. Leave the EU , Britain for Britain , they never realized how it would effect them
@Robert Smith that’s no excuse any more. The Tories have only lost 3% of their supporters since the last election (1% of 35%) and the majority of their supporters are the very people who are struggling as a result of Tory policies and Brexit and their refusal to tax the rich. The middle classes pay a disproportionate amount of tax to ensure that the wealthy can (legally?) avoid paying taxes (zone of the main benefits to them of Brexit, of course). And the very poor also pay disproportionately through lower benefits and having to pay more for financial services, food and energy needs.
Just take a very simple example. Poor people pay 30% – 35% APR for loans while wealthy people maybe 1% above base, which is currently virtually zero. There are millions of people paying off their debts (that they’ve been forced into because of covid and Brexit and austerity policies) at 35% APR, but only a few 10 thousand wealthy people borrowing money for free and getting a substantial positive return on all this free money.
@Learn Thai – Rapid Method Oh, my
@Learn Thai – Rapid Method That’s because the poor people are a higher credit risk. They are more likely to default on the loans. The poor people who pay back the loans are subsidizing the ones who fail to pay. The so-called “rich” who are able to put collateral behind loans, naturally giving them leverage on the loan terms.
Excise taxes by Government push up costs to live for every one
so no taxes for the rich ,on a tax heaven UK…but no money for the 99%
Two questions , did you vote Brexit or Tory if the answer is yes to either , you won enjoy ,
Talk about a double whammy mentioned some time ago now its more like a triple whammy from these tory tosers?
1) Poor people on benefits. 2) Truck driver shortage. 3) Polexit, Hunexit coming soon.
Aron Banks and Nigel Farage must be so pleased with themselves! I am sure Putin will reward them well!
Putin is far wiser than all of them alltogether
They hand out hundreds of billions on credit lone to big corporations, mortgage holidays and stamp duty to landlords not affected by Covid, then they say it’s the fault of people who got a £20 per week boost that the inflation is going crazy.
This man will never be my prime minister
Plenty of low cost and high quality wheat, beef, lamb ready for export from Australia, 🇦🇺🦘😊👍
BBB Plan should be:
1. Livable wage permanent laws of $27/Hour and up for all Americans
2. UBI of $3,000/Month for life for the first $36,000/Per Year ( tax free )
3. BOTH these points to eradicate poverty, homelessness, suffrage of Americans
Over 200 years ago, the French had enough of their rich getting richer and the poor getting poorer. Why do the Brits accept this sort of treatment? Have they been bred into being servants of their lords and masters?
I’m starving just watching this and I’m rich
Never knock the u.k still you have the NHS
Not for long me thinks
Live in fear it’s the only way
This reeks of potential economic crisis.
These posh twats live on another planet
I’m glad I left the U.K. back in 84 …. No regrets as my life here in Northern China is wonderful ….
🍷It makes absolute sense in this day and age.. Many with a right mindset / attitude perhaps shall follow your route. 😎👍
Thanks for the comment ….
I may be a “Re-moaner” and I voted to Remoan, but I had a gut feeling that leaving the EU would be an effing stupid thing to do! Well I don’t hate to say it, but the “leave” voters have now got what they asked for. Oh and if you thought the influx of immigrants would be stopped.. and I know people who voted to leave just for that reason alone.. ha ha, they lied.
So no mention of the main factor behind the problem BREXIT!!!
How about the public servants and pollies take a massive pay cut, that should help things instead of hitting the majority who can least afford it, vote them out people
If this continues to happen more of us will just pack our bags and take our business elsewhere
Yep, I said to someone I’m giving myself another 5 years and here a d they said if I say this I will never leave, I think 2022 in a couple of months I’m gone from here
They don’t tax the Rich or the Rich who keep their money tax-free off shore!
The foods which feed the rich, come from the hands of the poor. 😎
I just discovered that here in Canada we have a copycat government “initiatives” and they also lasted the same amount of time… It’s absolutely the same situation here in Canada. Even their message “building back better” is the same and it’s failing the same way unfortunately for many families here too. God, help us
We’ve already had over 10 years of austerity by this govt ,then over 2 years of C-19, now tax increases, as well as utility bills all up petrol, whole cost of living gone up
Il be alright Im off to Bahamas for 2 months £975,000 guaranteed apparently 🤣😂
Aaaah that’s only if you’re a tory MP,
My bad.
Yeah it’s called ‘Agenda 21’. ‘Sustainable development’ means population control. Which is a euphemism for ‘population reduction.’ Which is polite speak for genocide. It is all planned. Britain does not need hordes of industrial workers, just a handful of techies and some compliant underclass to clean up.
With Brexit they played into racist nationalism to split up the UK and now they come for the NHS and all the benefits the poor get. What a disaster
People need to wake the f**k up!!! No government is there for the people, the definition of govern is to restrict or control and ment or meant is mind or intention.
How much of the US massive infrastructure deal will pump the pockets of the greedy few as to those that need income to sustain themselves through daily existance ?. World needs more stuff for the humanity’s constant desire comparable to an infant beiing pacified by some sort of plastic to suck needlessly on. Elevate yourself by becoming a minimalist, it is just the same with the gut running our brains.
Waste of money, the Money should be use on NHS, not on tracks
London just looks after London,
Wealth transfer from top down needed
Translation: “We did everything we could to protect the rich and corporations during the scamdemic, and now it’s the turn of the average person to pay the price”.
Not feeling sorry. They should only blame their stupidity.
Disgraceful Government. When he says our recovery. He means taking money off those who need it, while those fat cats get richer.
Funny how the desperately poor immediately loose out…
Once britisher ruling india and now indians dictating them…
BREEEEEEXIIIIIIIIIT
britain is building back to the previous state of A SICK MAN OF EUROPE. HA HA HA HA. DONT WORRY NIGELS KIDS WILL BE DOING WELL…
American laws
Well, their priority was to build that big ship to monitor the world, and to sail around with our navy ( American). Rubbing shoulders with us makes them feel good! Lords and Duchesses , Sir so and so! Pageantry and parades are important to them, more so than their own welfare. Kick the royalty out. Stop pampering a bunch of people who have nothing to do! Spend that money on your people! How many thousands of acres are locked into their possession?
Is this the same gover.entbthstnapent millions on a Brexit festival. I think they forget the bread in bread and ciscuses
Plenty of advice is given if your ‘loved one’ is entering end of life care whilst in a care home during COVID. What if your ‘loved one’ is the UK economy and it’s entering end of life care during COVID & BREXIT ? What do we do then Boris ? Let it die alone and unloved you ………..
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The whole of Europe is the same. Same cheating governments
oxfam scandal was hilarious to me since i know prostitution is active in soho in the same place year after year.
the hipocrisy. dirty hipocrisy.
pedigree dogs i tell u.
boycott uk now