Pound plummets as UK government announces biggest tax cuts in 50 years
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- čas přidán 22. 09. 2022
- Don't call it a budget - but it is the biggest budget intervention we've seen in decades, largely at odds with what twelve years of Conservative Chancellors have told us.
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The Office of Budget Responsibility was stopped from publishing forecasts it had been working on, so the test of whether it is responsible was largely left to the financial markets.
The Chancellor claims he's unleashing "the power of the private sector".
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Hilarious. We go from Cameron to May to Johnson to something unexpectedly even worse than all 3 combined.
Excellent comment she will be the worse of a rotten bunch
She has no self awareness, no sense of society, community, only hatred for the majority of people that voted conservative, a psychopath in fact.
Yes, but not unexpected.
whens the last time the UK voted for their prime minster again? Cameron? Johnson?
@@sereese4937 Cameroon. Johnson was up against magic smelly grandad.
"Borrowing your way out of inflation is not a plan, it's a fairy tale" - Rishi Sunak
'Tax the Rich More' is so obviously
the Right Thing to do and yet
the Poor cant grasp that most of the time
cause guess who paid good Money for Propaganda
so 'Tax the Rich' doesnt happen? The Rich, duuuh.
Its so obvious i dont even have Anything to do,
im just gonna be specific once and recommend the Coverage
of Free-Market and Rich-screwing-with-us-all that 'Some More News' and 'Second Thought' made.
Now that fairy tale has turned into a tragedy genre.
Now we are in Doom!
🤐🤐
At least he said one true thing.
Thanks, I'm from the UK and all of what's been said is true. People are going through tough times and there is a difficult winter ahead. The biggest problem here is the gas and electric bill's have gone up 400% . Will be sharing this video with friends and families to help them realize and prepare. With inflation currently at about 10%, my primary concern is how to maximize my savings/retirement fund of about £300k which has been sitting duck since forever with zero to no
There are lot of ways to make a killing right now, but such high-volume near impeccable trades can only be carried out by real-time experts with ISDA Agreement. An ISDA agreement; lets investors sit at the “big boys table” and make high level tradess not available to amateurs. Trying to be a high stakes trader without an ISDA is like trying to win the Indy 500 riding a llama.
@@albacus2400BC Heard it's a good time to buy and basically I've just got cash sitting duck in the bank and I’d really love to put it to good use seeing how inflation is at an all time-high, who is this coach that guides you, mind I look them up?
If you have to pay a lot more for electricity and gasoline and such then you have no money to go out to dinner to buy clothing to travel to go to movies and shows so those businesses suffer and go out of business. Around here in Boston so many businesses, particularly restaurants and bars have gone out of business. but a lot of that had to do with the virus
Quick way to loose all your money.if intrested read above.
Come to the USA cousin.
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future. Putting our time and effort in activities and investments that will yield a profitable return in the future is what we should be aiming for. Success depends on the actions or steps you take to achieve it. "You're not going to remember those expensive shoes you bought ten years ago, but you will remember every single morning when you look at your bank account that extra 0 in there. I promise, that's going to be way more fun to look at everyday", I pray that anyone who reads this will be successful in life
I urge everyone to start somewhere now no matter how small, this is literally the time for that, forget material things, don't get tempted,i became more better the moment i realized this.
Yeah investment is the key to sustaining your financial longevity but venturing into any legitimate Investment without a proper guidance of an expert can lead to a great loss too
you're right Forex trading is surely a lucrative way to invest whether you want growth, leverage, stable income or something in between.
yeah for sure, honestly I made 62,800 dollars within 6days of trading with Bit coin.
It's really profitable for me and I will encourage anyone interested should invest in it now 💯
What a time to be alive for the banksters - tax cuts and bonuses bigger than your entire family will earn in their lifetime.
You expect anything any different from the Tories?
People are going to be rioting. Seriously, in about 2 weeks.
I f*cking hate the central bankers. I still can’t believe that most people don’t realise they’re the problem.
Did you like numpties statement that businesses should invest in automation to cut costs. Costs of the lowest payed working class who rely on those lo skilled jobs to live?
The bankers and executives are to recieve a bigger tax cuts than most UK workers, but they also think the budget wouldn't achieve its goal as the finanical market saw a sudden plummet in pounds following the Chancellor delivered the budget statement in the Commons.They are likey to spend their giant bonuses on London and oversea luxury properties and other investments, which eventually would push up asset and property prices making people harder to get on the property ladder.
Dear God, just when I was convinced that there could be no worse PM than Boris
... If Zionist Labour ever get into power... you won't believe in God anymore...
Bring him back! I'll bake him a cake myself.
@@AF-gd7fh no. Boris wanted tax cuts that's why Rishi resigned. Rishi wanted to increase corporation tax and was honest about it.
@@AF-gd7fh No thanks. He fuck3d it up in the first place. Anyone who supported bre it and though it would benefit us really was ill informed. If they still believe it then they are thick as $hit
@@bibekjung7404 God ain't real
"Its extremely expensive being poor" ah a kernel of truth.
I wrote JUST this in the comments. I think it should be a bumper sticker!
What about people like me who don't want a high skill high pay job? I just want to live my life without having to worry all the time, I don't need fancy cars or houses I just need a roof over my head and the knowledge that I won't starve. Who is going to work in supermarkets? Who's going to do the cleaning? Why do we all need to have high skill jobs???
We don't - but we do need a system that is fair to all.
Finally, now the struggling millionaires will breathe a sigh of relief lol.
Racism😂😂
Racism🙄🙄
@@Rich.psychopath que?
@@Jesus-bq3gl Thanks for the heads-up Jesus.
LOL 😂🤣, but true
People should be able to sue the government for negligence and damages to mental health.
If you can't sue for government allowing the sale of tobacco and thereby knowingly and directly killing people ......
@@bladerubber Poor analogy. People can choose not to smoke. People don't have a choice when the government is acting to destroy our lives deliberately.
Definitely 100% right
If the Conservatives were destroying the lives of people deliberately, they would know they would be voted out at the next election, so that does not make much sense.
There was actually someone the other day who suggested everyone should make a complaint to the police for neglegent care of vulnerable people, and see how long a general election takes to be called
Very well articulated; I wish I had more time for trial and error, but I'll be 56 in October and I need ideas and advice on what investments to make to set myself up for retirement, especially with the looming inflation and recession; my goal is to have a portfolio of at least $500k at the age of 60.
There are a lot of strategies to make tongue-wetting profit especially in this down market, but such sophisticated trades can only be carried out by proper market experts.
@@miawhitlock9140 I just looked up Wendy Helene Bennett online and researched her accreditation. She seem very proficient, I wrote her detailing my Fin-market goals and scheduled a call.
You are in trouble, you should have been born early, and not earlier. Sorry mate 😭
You are in trouble, you should have been born early, and not earlier. Sorry mate 😭
You are in trouble, you should have been born early, and not earlier. Sorry mate 😭
Rishi predicted this - Lesson, When a Indian talks about numbers- don’t doubt it.
accept dont ask his wife right ?
@@andydudley1775 lol it doesn't matter what he can do good for people, it always the status,race and culture that matters for people like you, maybe that could also be a reason behind the recent suffering of your country's economy, i.e bad decisions
Everyone knew Rishi was a better candidate,. Atleast better than someone like truss. It's a shame cos now y'all are going to suffer this winter, and even after that just cos of your inner ego that you guys can't get over it
Nonsense. Don't make this about race. This is about individual competence and concern for the people.
@@thecrimsondragon9744 He was far more competent than truss, but his race didn't seem competent enough in a white supremist country.
Race played a role in Liz becoming pm, and the current chancellor being black, will take the blame
Yes we're 12 years into this new era!
"The comforts of the rich depend on the abundant supply of the poor."
- Voltaire.
‘Who gives a 💩’
King Charles III
"You will own nothing and be happy"
- Klaus Schwab & the WEF
Which is why they will never cut immigration. Because its a constant supply of poor people which also manages to drag down those who are trying to climb.
@@GizaByrd Entirely out of context, as per standard for conspiritards. That was from a report (which had nothing to do with your punching bag Schwab) about how we were moving more and more towards renting things vs owning them.
@@JM-oi9pk
Multi billionaire couldn’t care less about the 🐑
‘ let them eat 🍰 ‘
-
The naïveté of the 🐑 never ceases to amaze.
China, Russia and India : Its the perfect timing to colonise the Great Britain.
'Tax the Rich More'...
Its so obvious i dont even have Anything to do,
im just gonna be specific once and recommend the Coverage
of Free-Market and Rich-screwing-with-us-all that 'Some More News' and 'Second Thought' made.
Rishi was right about inflation crisis 😂
Mr. Rishi Sunak had predicted this. Truss lacks foresight and basic understanding of how the market, the country, inflation & the GBP works. Truss is not fit at all to be PM. This would not have happened under Sunak.
@@mrnmrn1628 Ha bhai
Finally, a government that takes from the poor and gives to the rich. Oh, and does that with a smug smile on its face.
it what they have done for years and now the newspapers will tell the poor how well off they are
What cutting taxes is stealing from the poor????
@@roland20002000 if the rich benefit disproportionally then YES!
I work full time doing overtime yet being taxed so much that there's barely anything left. I have worked face to face with people even until I went into labour at 37 weeks pregnant during COVID. Despite me and my husband working full time with overtime on top, we can't even eat out, nor afford holidays abroad.. So, I for one, appreciate this tax cut
@@poltronafrau Everyone benefits from tax cuts
Didn't think I could get anymore disgusted in this government. Absolutely vile
You should move to Tunbridge Wells
The bankers are happy tho 😎
I stopped asking how much worse it could get a couple of years ago…. And yet…
You seem so, too!
Well you lefties will never accept that 'we' voted to leave the 'socialist talk shop'club.Get over it.
The blind leading the blind. The UK Goverment's and BOE for the last 15 years have been fing stupid to keep the interest rate so low. Borrowing MAX'D out. House price's through the roof. Total Madness. The young in the UK are getting bum'd. And now KK, what a joke!
my heart goes out to that old lady. articulated soo well her emotional state.
So sad that lady saying “I don’t have expectations any more.” People have been so beaten down by this government they’re literally losing the will to live.
I think that's the idea behind this bs.
@@domfrancis3140 Sadly I believe you are correct. A down-trodden populace capitulates far easier than a healthy one.
They've been like that since Thatcher.
@@cosmosadorabilis7677 And before. When has anyone seen any government actually look after it’s people past a certain point.
@@domfrancis3140.Afraid so.
A chancellor so inept all he has to do is wake up in the morning to collapse the pound.
Oh he is probably very competently shorting his personal wealth against the Pound. Insider trading is perfectly legal when you yourself make the rules.
Tbh, any large announcement makes the pound shrink. Especially if its unannounced. Its not strictly true that a falling pound = the markets think Britian is doomed.
Zionist Labour could do that in their sleep...
@@Harry-dh2pm yeah that’s true, but any statement doesn’t crash the pound to its lowest value in 30 years
Where did you get your PhD in Economics from?
I've run a local bakery for the last 20 years. It has been wonderful.
It hasnt made me a millionnaire but I employed 30 people and it gave me a good living.
I've had to close my doors last week because getting ingredients from mainland Europe has become too expensive. Delivering is now too expensive and my customers are too frightened to spend extra money on baked goods (I guess they're seen as a luxury) and I can't borrow any more as interest rates have gone through the roof.
Oh and people are skint because of this government's self-inflicted cost of living crisis.
Self inflicted over the course of about 45 years.
We don't produce our own energy. We now (thanks to Tory policy during the 80s) rely on buying energy from abroad.
So..... thanks Brexiteers..... and thanks Tory voters.
You have ruined my life.
Torry voters should have had more confidence in their MPs and voted for Sunak who already told them what Truss’s policies could result in.
Glad they are helping those most in need, I was worried how those on £1 million a year would cope without that extra £55k...
to me fair someone gaining 5000 extra is just happy
Those on 1m per year will still pay £400,000 in tax anyway. So what's your point?
@@kevinsyd2012 I don't think majority of the people commenting actually understand anything to do with taxes or how money works.. glad to see someone who looks like they do.
@@kevinsyd2012 yeah, whats your point though?
@@tylercollingwood3375 I guess my point is that you have no idea what you're talking about.
Wow, as a Canadian, it’s hard to keep watching the UK punch itself in the face to stop a nose bleed. The UK is doing much worse than comparable countries now & the economic outlook is grim. I have family there- I don’t want to see the country continue to unravel. I would be protesting, calling every MP. I would be afraid & I pray the people get it’s act together & protest their discontent. Their future is on the line.
Its.
well said. Thank you
... It could be worse... Zionist Labour could be in power... and we're fighting another illegal war...
@ BethBurn We do contact our MP's, but, they just ignore us and do what they want, we have no redress anymore.
This is what we get for not having a much stronger Liberal Party. The Lib Dems usually have the answers, but nobody needs to pay a blind bit of notice to them.
My astonishment is that... did anyone in the UK political arena actually question the discrepancies of the tax cut proposal by the new Chancellor at its entirety????? Clearly the diagram in this video show who would benefit the most. So was there any journalist or reporter out there who had questioned this to the Chancellor or the UK PM, by any chance. Yes, I know, they will try to avoid the question because they can't "truthfully" answer it. Politic is a nitty gritty dirty business!
They basically replicated the 'Barber Boom' of the early 1970s and ended up with the same end results, but without the Boom
At what point do the people of the UK decide to act? How much more clear does the "government" has to be about its goals to plunder the country on behalf of its billionaire patrons?
Elections have consequences! Too many boneheads, who are deeply xenophobic, wanted Brexit and the ability to chase out ‘Johnny Foreigner’ from our shores. Johnson was a demagogue who fired up the uneducated and racists with deep fears. The results were predictable and were loudly predicted. You reap what you sow!
And what is the act? People's liberation? The proletariat owning the means of production? When you call for a revolution, be specific in what it is exactly that you want.
"the peasants are revolting!"
"Yes they are"
@Roger Mellie typical right wing attitude.
@@cleanerben9636 we are seriously over due a revolution, we should genuinely occupy parliament I think and get rid of the royals. Our friends in the US almost ran a successful coup without even knowing what they were doing
And this man is the chancellor.Heaven help us all.
Please repent of your sins because the rapture is about to take place it’s going to be a great time for some but a terrifying for most God is willing and faithful enough to forgive us of our sins we are all sinners and are in need of a saviour it just takes 1 encounter for your whole life to change I hope you read this message with a open heard God bless
@@Jesus-bq3gl that's your problem right there, you keep forgiving these Tory thieves of their crimes. Oh well, nice try.
Because those less qualified know better. 🤡
@@Jesus-bq3gl people have been saying that for 2000 years 😂😂😂
@@aonary5382 First of all, you must understand that in the last days some people will appear whose lives are controlled by their own lusts. They will make fun of you 4and will ask, “He promised to come, didn't he? Where is he? Our ancestors have already died, but everything is still the same as it was since the creation of the world!” 5 They purposely ignore the fact that long ago God gave a command, and the heavens and earth were created. The earth was formed out of water and by water, 6 and it was also by water, the water of the flood, that the old world was destroyed. 7But the heavens and the earth that now exist are being preserved by the same command of God, in order to be destroyed by fire. They are being kept for the day when godless people will be judged and destroyed.
8 But do not forget one thing, my dear friends! There is no difference in the Lord's sight between one day and a thousand years; to him the two are the same. 9The Lord is not slow to do what he has promised, as some think. Instead, he is patient with you, because he does not want anyone to be destroyed, but wants all to turn away from their sins.
Rishi :- They call me a "Mad Men"
Remarkable how the drop in the pound happened in real time while he was talking! That should tell you something, shouldn't it?....🤔
Wow even as a Canadian im shocked at how vile, unprofessional and pathetic this new government is!
Keep your nose out and focus on Trudeau the trucker trasher
new? it's been the same old government since 2010 only repackaged as a new government for the 3rd time
@@Jesus-bq3gl JESUS COPIES, JESUS PASTES
@@Lee_303 Apparently saves like a miser too, Wigga MUST be LOADED by now!
@@Lee_303 Jesus out of his mind nowadays.
"Rich people pay 21% of the income tax."
Well, sure. And if we had slave labour, they would be paying 100% of the income tax. Is he trying to argue that the slave owners would be having the harder end of the stick than the slaves in such a situation?
Because they earn 100% more than the rest of the population. Sounds fair to me. The rich get rich by riding on the back of government spending on infrastructure and services so make them pay up
Yep that's a good way of putting perspective on it...
The higher the percentage of income tax paid by the super rich (while taking all the tax dodging/evasion by them into account) only proves further how economically unequal things have become in the UK.
If the profits of the super rich were a little less so wages were higher the percentage of income tax paid by the those rich would ofcourse be a lower number
I think that's exactly the argument.
@@haeuptlingaberja4927 I know, I meant to say that the original comment was a good way of putting perspective on it. I was just adding to that (edited it to be clearer)
Please repent of your sins because the rapture is about to take place it’s going to be a great time for some but a terrifying for most God is willing and faithful enough to forgive us of our sins we are all sinners and are in need of a saviour it just takes 1 encounter for your whole life to change I hope you read this message with a open heard God bless
1 pound to 1 Dollar 10 cents LOL. This country is FINISHED
There's trouble in paradise, a self inflicted pain.
Damn that's savage. At least in America our politicians have the decency to lie about it. These guys are just like "Oh everyone's bills doubled? That sounds rough guys. Anyways, we're gonna give rich people more money about it."
British comedy at its finest
A perfect summary, and for his next trick he's going to visit a foodbank to kick people in the nuts .
Our version of republicans. First thing trump did was cut taxes for the rich. He was voted out and so will this shower be next time. They could easily have helped those on low incomes but raising the tax free threshold to £20k. But no, give those already wealthy more money. Disgusting.
For all those war lovers I'll make sure not to pay my income tax until they stop sending money for this madness.
I'll do my self assessment, but no money IN.
Gov is betraying us. Besides nothing justify intensifying wars for bigger damage.
@@vicious12394 but the laughing has gone 😢
'Tightening laws around striking'... so they know full well that things are gonna get much harder for the working classes and want to stop the revolt.
Don't say things like that!! I'm 80 years old ...never been in a union...ran my own business .....but you are tempting me to start a revolution against these f##king Tory clowns.
Theyre putting in toletarian policies to prevent the uprising
Raid number 10👍
tbh I wonder what would happen if a whole workforce went on strike without completing a crappy tick list these idiots have proposed. then again we can just go back to the era of mass walkouts if they want to ban strikes, then they'll have no workforce at all!
Public sector workers are not the working class. They are pretty much the only ones who strike.
How stupid are we. Think Truss and her friends are going to have to turn down their heating this winter?
We should never have a prime minister the people didn't vote for.
The problem is the people making these decisions are completely isolated from the worst consequences of those decisions.
They need to be MADE uncomfortable!
I am afraid that that moment may only come after the next general election in 2024 when the Tories find that they have been set aside by voters.
They are mainly millionaires, they weren't going to vote for Rishi Sunak as he was listening to Martin Lewis and started doing something about the vulnerable.
80% of senior civil servants are privately educated. Not good at all
And the people voting for them are isolated from common sense.
It's not the privacy of t hgv eur education that is the problem . It's the ineffectiveness of the process. We need leaders in our country to have a grasp of history, of practical personal budgeting, of more than superficial morality, of actual business sense, of responsibility for consequences
This honestly makes me despair. Life in this country is already extremely expensive, with not much hope in sight for lots of young people who can’t afford to even move out of our parents’ houses while having full time jobs. This scummy tory government has made THAT crisis even WORSE! Who would’ve thought it could get any worse…
@@Jesus-bq3gl 😂
Please move to Venezuela then and enjoy the joys of left wing policies.
scrub your dirty bottom using lots of soap, find a wealthy widow & "close your eyes and think of England" as you let her do "cowgirl"... stiff upper lip the next morning as well, chum!!
They won't just lose power, they may face oblivion. Fury by the public at a give away for the rich and a squeeze on the plebs.
It's expensive since you got a royal welfare family leaching off all the tax payers and stealing the land increasing prices the entire royal family is just the old royal family from Germany look it up they are all Germans.
England has crawled into a hole... and doesn't want to come out. Trickle down part 2.
Sunak,predicted this. What a genius. He was right. Inflation will go up. Rishi is good at his work
Why are they so heartless towards lower and working class? Why do they insist on the richest getting more and more? God help us🙏
They hate the middle class too
the middle class are the most effected honestly
Greed.
Wow. Properly naive comment. Wake up and smell the coffee. This is what human beings do.
The greed and lust for power,that blights the human condition
Borrowing to pay for tax cuts in an inflationary environment, seems like economic suicide. In all of my years, I can't recall seeing anything more irresponsible.
Brexit was far more irresponsible, this can be reversed.
True that. Brexit was based on BS, this is based on greed and stupidity.
Hope your country is ready to stop the exodus of billionaires and millionaires once the last pound is stolen from your children's future.
They probably will make a run for it after converting and diverting all their pounds to Dubai, Cayman Islands etc...
@Putler's Astrologer time will tell... For now keep believing in your 40 years of brainwashed neo liberal fantasy.
Australia has done the same, just kicking the can down the road....
So they want to raise taxes? When inflation is already a substantial tax on the people smh
Times are really terrible, especially when one looks back at Thatcher's years in a positive light compared to the debacle of today's Government.
at least thatcher had some respect for the job,boris and lizz and just doing it as a side quest now
Remember the £170bn oil company profits that Truss refuses to tax instead she will make us pay for it, is EXCESS profits
She & the tories have always been a moral vacuum.
@@johnmoore9862 so have labour they have all hated the population post ww2.
War profiteering at that
Honestly, bring back the guillotine. Broad daylight robbery right before our eyes without repercussions because the laws are made by politicians bribed by the rich helping each other. It is madness
Nothing says "We need to give poor people more money" quite like giving rich people more money.
The absurd thing is that poor people will quickly put any extra money they get back into the economy in the form of much needed purchases, while the wealthy will just stash it in some overseas tax haven or trust fund 'for the kiddies'. Big business will redirect it to their top executives or pay it out to shareholders in dividends before they'd even think of creating more jobs or upping their more lowly employees' wages..
How does allowing people to keep more of their own money get twisted into this? Taking someone's money to give to you is righteous but letting someone keep their own is theft - this is what lifelong welfare and entitlement does to the brain.
@@adw802 taking it to give to us? I don't want rich peoples' money you dweeb. I want poor people to have food to eat wtf is wrong with you.
Why collecting taxes when we can print as much money as we want ! It is magic !
Truss needs to sack this Buffoon of Chancellor in the morning - then she needs to resign!
“It’s easier to fool people than to convince them they have been fooled”
Yeah, but fooling the foolish is only foolish when the fool realises the foolish have been fooled after the fool … never mind 😆
ALMIGHTY GOD KABIR is the father of all souls that JESUS, MOHAMMAD, GURU NANAK, VEDH was telling in BIBLE, QURAN, GURU GRANTHA SAHEB
@@bibekjung7404 nope...
There is no mandate for this Prime Minister . Only way out , General Election .
Her mandate is to transfer as much money as possible to the rich and powerful in what little time she has, there's absolutely no concern for the long term ramifications.
She'll never agree to it. Turkeys don't vote for Christmas
😒
Oddly enough, she has. What she does is precisely in line with conservative value in the most overt way, and that is apparently what the voters voted for by giving them such a majority and let them be in power for over a decade. It's not like the voters never knew what the Tories are about.
So you think being under commie Labour will be better....I will vote but not for Tory or commie groomer labour
Queen: Didn't take you long to mump it all up
Every single day, life in the UK just gets worse.
What he just said was " for too long we have tried to help those less fortunate in this country. Its time to look after the rich. Because we are them. "
😂
Rishi said it in his conference speech, new chancellor put it into overdrive. shameless
Exactly so! (i.e. that is what he said)
Tax cuts for the rich are 2.5 times greater than the annual salary of someone on a low level wage. Completely disgusting
UK Economy under Least Trust will be screwed.
More than 25% of all income tax revenue is paid by the top 1% of taxpayers, i.e. taxpayers with the highest incomes, and 90% of all income tax revenue is paid by the top 50% of taxpayers with the highest incomes.
As such is mear mortals on less than 40k per year are only contributing a total of 10% of all taxes gathered ..so to level the playing field in real terms means we should pay more .. and I for one know I don't wanna be paying more . So let's not level it and we just pay our total combined 10%
you do not have a clue, the rich have never paid tax. they are registered in tax havens anyway. you listen to labour too much.
Why is it disgusting to cut taxes?
Poor don't even get tax cuts because poor less likely to be able to accept cash which allows them to avoid tax or donate other peoples money to charity but claim it as they did the donating so getting tax write off.
when you donate at a business they get the tax write off never accept to do a donation at any business they are just paying less tax because of your donation.
Trickle down economics in 2022. Tax cuts that pay for themselves. These people are from a different dimension.
Did he actually say that this new tax Policy ,"will increased prosperity and living standards?"
Yep, he certainly did. But, ONLY for the ALREADY rich and powerful.
So, if you only make 20 thousand
Pounds/year you get a measly $157 pounds tax relief, while your wealthiest citizens are getting more than twice your annual salary in tax relief, that they don't need. For them, 57,000 pounds a year is just pocket change. But "need" isn't the issue, is it? This is all about pure greed.
The British people should be angry and thoroughly disgusted.
Liz Truss and the Tories are disaster, quite worrying what will happen to our economy😟😟😟
I predict a visit from the IMF in the next 2 years
Take a look at Italy or Greece.
@@whatfruit7965 ‘the tax rate in the uk is higher than some in the g7 like Italy and the us’ ITALY?! MAN SAID ITALY
@@whatfruit7965 I do. My daughter in law is Italian. What are you saying I should look at?
@@PhyllisGlassup2TheBrim I wonder……..definitely not the economy……….definitely wasn’t obvious……….
Its not an experiment its a forgone conclusion. This is madness
Did you like the solution to cutting company costs by investing in automation and basically removing jobs from the poorest people who relying on lo skilled jobs to live?
@@HOLLASOUNDS. We could euthanise the existing minimum wage workers & use that as example to promote slavery, the tories central office have been wishing that for years, now with Truss in charge it can become a reality.
😒
YES and its called neoliberalism and its what's being failing across the entire Western World for the last 40+ years.
My first impression is that she's the granddaughter of Ronald Reagan and Margaret Thatcher.
Cutting taxes hand in hand with deregulation could win the US Presidency as id did for Reagan, Bush 2.0 and Trump.
@@HOLLASOUNDS I also noticed that 😣
I remembered the days when each British pound was worth about two US dollars.
There was a time where it was 4 dollars to a pound. The pound has been dropping in value since WW2
As a kid (a long,long time ago) we referred to 5 shillings(25p) as half a dollar
It's disgusting. It's the poor that need help. Not the millionaire's. There not going to be sat this winter having to choose between warmth or Hunger. Wellness or sickness.
It sick me to see so many people in the world suffering. One love England from Jamaica.
No sah, don't worry about us. Worry about the acidity and corruption in Jamaica. Bless up Omar!
Thanks for the kind words Omar. Ignore the haters. There's too much of it in the world.
@@napoleoncomplex2712 I think you misunderstood. I'm also of Jamaican descent. The UK essentially chose this path, Jamaica has been in a mess not of their own making since long before independence.
One love back,we don't suffer. My garden grows,I eat. We will manage.
@@TOITN what just happened will kill the poor in England, 55k let off on a 1m, 😲😲😲😲.
£55 000 tax cut for "millionaires" when I heard a story recently of a school dinner lady, who is thinking of leaving her job, because she is having to literally take food away from poor children while they are eating, as they have not got enough credit on their accounts!
That's heartbreaking
@@tara34952 It is, you'd think it was Dickensian Britain... not '22' years into the "21 century!"
@@sebastianwrites That is a load of bs since the food is donated and out of date so either they eat it or gets thrown away.
@@basillah7650 What are you talking about? So the food is donated to schools, and it is also out of date? Seriously, if you're going to reply then "think" about what you are saying please?
@@basillah7650 Tory apologists are sad creatures.
At 16,30: this man doesn’t understand Economics 101. Cutting taxes is fiscal expansion. With no output gap, I e. UK economy at or near full employment, there will be a significant shift in aggregate demand which, with few resources to meet it and supply issues prevailing, will inevitably cause prices to be bid up. It’s stupidity to then blame markets for their reaction - as Daily Mail does. IMF and BoE are among others who see it this way. I nominate the Chancellor for plank of the year.
what a total disaster.This has to be reversed, we are heading for financial armaggedon
Well, at least the UK can no longer blame the EU 😂
😂
Oh you watch, they will blame the EU.
@@JoelJoel321 is the EU doing any better????
@@polaris7122 This, whole continent is fucked.
@@polaris7122 The people in the EU are. The French have only seen their energy prices rise by 4 per cent. The French have nationalised energy. The EU as a whole plans to tax the oil giants £140 billion to pay for prive caps while Truss has borrowed it for regular people to pay over the next couple of generations. All that borrowing has made the £ plumit.
The UK may be the only country in Europe to put the price of energy caps on the shoulders of working people rather than taxing the oil giants. The Tories are letting the energy giants, bankers and wealthy fill their boots while the poor have to work harder and longer but are worse off than they were 2 years ago.
A government official has just said he wants to replace low skilled workers by automation... This is a psychopath.
Its inevitable.
UBI aka slavery inbound.. “conspiracy theorists” warned you years ago
There are still tons of people out there that voted Tory, not by accident. NO because Conservative represents them.
Maybe dump that gigantic Royal expenditure off of your books?
Its a pity that British schoolkids are taught that the French revolution was all about rich folk being beheaded . Had they been taught about all the benefits that revolution eventually led to for the French people then perhaps they would stop voting for the Tories and the conservatives would truly fear the anger of the masses.
In Ireland they took all the land back and it became the people's land.
Everyone got some.
Local areas had local land which local people could agree on its use for the community. Called Commonage land. Sometimes this could be a quarry, with the wealth going to the local people.
Britain needs land reform.
Enough of these ex of exploiters ripping everyone off.
It's your country, your land, your work, you build it. Why should they take so much from you and leaves us with so little?
Now they want to work us until we are 70 years old and cut the pension in order to help create more billionaire exploiter tax avoiders who want the people on low pay and zero-hours contracts.
We aren’t French. The result of the French Revolution was catastrophic.
Rich folk getting beheaded sounds like a benefit to me.
Tbh the beheading is the best bit
You do realise that after Napoleon took over he became emperor, a dictator and then deposed him in favour of King Louis' cousin. Barely anything changed aside from the violence.
The rich get richer, the poor get poorer
With the economy going down the shitter, the rich might be getting poorer as well
@@mr_nitrogen8670 im sure they can take a little more from us to make sure the rich stay rich.
@@adamdadds4566 won't be any more left since the poor will have no money to spend.
@@fiendishfanatic then have less, duh
@@mr_nitrogen8670 not true at all all most rich people keep there money out of England so these won’t impact them the only people it impacts is the working class
You gotta aknowledge that heckling is the soul of the British Parliament
Imports of useless items must be banned ...
If I owned an energy company, raking in profits as people starve and freeze to death, I would be furious with Liz Truss for not redirecting the bankers bonuses to me. Who exactly does she think she is - Karl Marx?
Greed can't be satisfied, money talks and it doesn't have any conscience.
😂😂
I don't understand this comment
@@darkunor6687 Have some coffee ☕️ then and smell it.
Yet what people don't understand is the City of London Corporation (the heart of the nation's banking network) has control over approximately 42% of international financial flows through trust funds.
Sinking the bank networks will literally plunge the UK into non existence. A nation of 70mil (with large number of elderly) cannot compete without it.
So it is easy to say blame the bankers xyz, but it is never as easy as that.
Nor is it as easy as protect the poor etc.
Absolutely everyone is in it for themselves. The poor for their own benefits, the rich for theirs, and the middle earners their own also.
So you can't win either way on a budget. You get winner and losers. The losers hate it, the winners are happy. Then next budget the winners and losers change again... it's very much a balancing act.
The whole Tory part should be hauled into court for neglect of national duty.
I'd argue its 90% of the politicians not just conservatives, we just need tk abolish the party system and vote in ppl ourselves for all.positions
ABUSE OF POWER . A power conferred by 20% of the Tory members who now bay like wolves , and by 80,00 odd Home Counties' buffers.
Illegitimate governance, by an illegitimate government.
Imagination
@@cryptouk7985 you can argue that, but you’d be wrong. It’s not labours policies that have got us here, it’s the conservatives, 12 years of it.
@@hamishf7444 So you don't think Labour didn't lead is here in the first place by lying about weapons of mass destruction and going to a war that had nothing to do with us, which then allowed Tories to step forward?
Personally, I blame voters who continue to vote for change but never see it.
Insanity is what they call it.
I don't think the budget was radical enough.
God, this is callous and unfeeling. The people responsible for this are monsters.
This PM will last 3 months if she’s lucky (if we are lucky).
3 weeks is too long never mind 3 month xx
.........wait for the £ to go below the US$, say 80 to 90 cents ........ Truss is history ??
Will be lucky if the whole world last 3 weeks! No joke.
You don't need to be a financial expert to understand that this is a bad plan.
It's a nice way of saying we are bankrupt
As an Economist, I believe this would either work spectacularly or fail woefully, no middle ground...
I didn't hear an explanation of how letting rich people keep more profit for their personal wealth leads to growth. It doesn't follow that they'll necessarily invest in British companies or enterprise with that extra revenue.
Did you like the bit where numptie suggest business should invest in automation reducing costs, by not having to pay the unskilled workforce and giving there jobs to robots?
If we have the highest rate of tax in the G7 who's gonna bring business here, instead of looking at what others will be getting maybe try to respect the fact that you will be better off than you are now
But its trickle down economics you know that thing that hasn't worked for 40 years. Be sure to have your bowl to catch the drops.
I think Brexit is a single reason so many businesses left the country. And reducrion in tax for rich wont get them to return.
@@recs5351 Why would anyone bring businesses here when they can take them to the massive economic bloc right next door? We are a tiny island with supply chain issues, sat next to a manufacturing powerhouse which can out-produce us in everything from car parts to chickens without breaking a sweat. Also, the pound is collapsing because market analysis looked at the whole picture and realised that this will NOT drive investment. It won't even drive investment by the companies already here. It will just make the CEO's of those companies richer, and they will hang onto that money for grim death rather than boost the wages of employees.
Sure, families struggling to pay for food, shelter and heating may be a couple of hundred pounds better off on an annual basis - until the cost of living crisis swallows that 'saving' with the next rate hike. But at the same time we can see the top earners taking home criminally over-inflated pay, and they will now get a tax break equal to the total yearly income of a nurse.
Here's an idea - why not keep the tax on them high and hire some more nurses to help prop up the struggling NHS? Or is the idea of getting billionaires to pay their way too radical for you?
People like you are Tory apologists, and you need to pull your head out of whatever mound of money insulates you from the real world. Telling us all to be grateful and focus on the table-scraps that the lords and ladies up at t' big house have seen fit to toss us is utterly disgusting. No: we will not stop complaining that Tory donors and cronies just got handed tax breaks which mean they earn more money than some families will see in their lifetimes, while the rest of us have panic attacks when we hear about rising costs.
And again the politicians fail to understand that cutting corporate tax never leads to more investment, only to higher bonuses for CEOs and shareholders.
The stupidity of these people is unbelievable.
nothing stupid about it in their eyes, who do you think lines their pockets
I’d wager it’s greed, not stupidity.
Excellent comment nothing is stupid just get richer for themselves.
They’re not stupid. They just don’t care, only in it for themselves
Sunak told them this yet people voted for truss.
Rishi is sipping Coffee with her tax dodging wife laughing . He will come back stronger
This is disgusting.
You can see them gloating. They're not even trying to hide it.
Make people poor and desperate so they have to do what corporate grifters tell them. After all it is usurers who create value, not people with skills
Exactly the logic that many US corps live by. 🤣 😂
WEF pretty much
It's a risky strategy. Make them desperate enough and you *could* have riots.
She don't give a f about people earning less than 16 k a year.
@@PhyllisGlassup2TheBrim you might get more than riots.. you might actually trigger a revolution
Crazy what happens when we live in oligarchy!
Legalize Cannabis in the UK? That would earn more money for the UK than these tax cuts are even worth.
"We will borrow £70 billion to cut tax for the rich, which will stimulate the economy so that we can get a higher tax yield to pay for more hospitals, police and schools"
I mean if you wanted to fund hospitals, police and schools couldn't you have used the original £70billion for that??
You just don't get it, if you make a million a year you can live in whatever country you choose. you cut the rich taxes rates by 11 % and you double your number of people paying taxes in that high bracket.
@@dixonhill1108 You just dont get it - NO one should be paying any taxes and governments should NOT be borrowing from corrupt Private Central banks owned and controlled like everything else by these MAFIAS being exposed in this video here czcams.com/video/98qv9ztkW_U/video.html
@Dixon hill With respect that is incredibly naive - if you make a million pounds you cannot live anywhere in the world, there are other regulations that come into play.
@@dixonhill1108 Often you have to pay tax where you earn those funds. I work for a multinational, live and work in one place, but the business is based in another country. I pay income tax where I live, but I also pay tax on my share package in the country where the company is based too.
@@dixonhill1108 actually the US has a policy wherever you live you gotta pay taxes in the US. If you fail to do so, there are consequences...
Well who would've thought that would happen! Surely everyone.
yall made fun of Rishi when he said that Liz will destroy economy
some even made comment about his brown skin.
This appalling government needs to go asap! totally disgusting.
British Revolution is looking pretty tasty right about now.
#RevolutionNow
Not wrong, were gona be like zimbabwe soon
@@TrustMeiamaD.R. the problem with a revolution is that you always end up back in the same place...
@@7dtdfil730 Have you spent a week in France? 2 hours for lunch. Get paid for travelling to and fro work. Excellent roads and public transport.
Rent in cities cheap by law. Guilty to be proved innocent for corrupt public officials. Lovely housing, good schools..what a contrast.
@@TrustMeiamaD.R. I've not got the money for essentials let alone such luxuries mate... 😡🤬
Come back Guy Fawkes, all is forgiven.
Maybe we can start a gofund me
Remember remember the 5th of November
"Creating a warm space for people to keep warm" what about going to the local Pub" ohh shame on them.
What a master stroke. Right after a two year period of government spending to prop up a flailing economy, cut as much of your revenue as possible, when your spending period isn’t over. Well done!