What has Happened to the UK's Economy

Britain used to be world most powerful economy. Even now its still in the top 10 largest globally. But the quality of life for the UK's citizens has been in decline for well over 2 decades. Once a highly developed nation and the forefront of the world, it has fallen off. Poverty levels are increasing a long with levels of homelessness. This has been brought about by years of poor governance and ineffective policy.
Is the nation doomed or can it be rescued?

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[shellylofgren]

Our economy is like a flailing fish, fighting for its life. The normal state of the U.k. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.

[hersdera]

In light of the ongoing global economic crisis, it is crucial for everyone to prioritize investing in diverse sources of income that are not reliant on the government. This includes exploring opportunities in stocks, gold, silver, and digital currencies. Despite the challenging economic situation, it remains a favorable time to consider these investments.

[Riggsnic_co]

Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.

[assamass]

I am living in Vilnius, Lithuania. I've got an offer for a job in London (same title as now). Now get this, the salary increase would be 17%!. The differences between Vilnius and London cost of living is more than double.

[nick]

You mean that giving more money to rich people hasn't worked out well for the majority? I'm so shocked

[qjtvaddict]

Refusal to build infrastructure to stimulate the economy is another factor

[garywinterbottom]

The mistakes were deindustrialisation in the late 70s and 80s the rest of northern Europe such as Germany kept their manufacturing and now are better off as a result.

[sheffsteel]

My partner works quite high in the government and she told me (off the record) that during covid she often thought the wastage of money and building up as much national debt as possible was almost deliberate, being serious there's no way politicians could be so incompetent and foolhardy. What a strange/ bizarre time that was?

[Luke-zsjx]

Slight correction: we haven't voted for increasingly populist leaders, Conservative Party members have chosen our last two PMs.

[IainFrame]

Our politicians bet the house on the utopian idea that we could survive purely as a service economy.
Morgan Freeman narrates: *"In fact the UK could not survive as a service economy"*

[GillerHeston]

Sadly with each passing day we can see the impact this awful policy has had on the UK. Tied up in red tape and tariffs with lower GDP than before the pandemic whilst the others in the G7, including Italy, are above. The lower GDP means we do not have the headroom to pay our way in the world and must resort to borrowing.Whilst there are rich people in the UK; a great many of us are poor and now we are poorer still. What steps can we take to generate more income during quantitative adjustment?

[Patriciacraig]

People try to predict the economy not realizing it is not a capitalistic market, its a command economy, central planning! my concern is, instead of having much pound in bank that could lose value to inflation, do I save in gold to reserve and grow wealth for now, or just hang on?

[Justin-jhym]

The UK also squandered it's North sea oil reserves unlike Norway.

[bluegoose]

The UK is a perfect example of self-inflicted damage.

Anyone with a brain could see this coming. In fact people have been saying it for years... the issue is that the people in power were more interested in helping their rich customers and friends rather than to bother avoiding this inevitability. As a result, the poorest suffer the most.

I believe these people should be held accountable for the ruin they've caused and the consequenses should be as severe as the consequences are for murder... because these people have willfully and deliberately caused financial ruin, deaths, a huge spike in mental health problems, massive wealth inequality and a drop in quality of life not seen in the history of this country.

[TheBlazingRedcoat]

Would be more accurate to show the Houses of Parliament rather than Buckingham Palace when using the title UK Government

[Fairwater]

Why is the Republic of Ireland and the UK shown as a unit in 2024??

[MrAlene]

The UK is the perfect example of what happens when the state is basically at the service of multinationals. High dividends, tax cuts and austerity will take you so far since theres absolutely little benefits to this equation. Cut in services basically underfunds all infrastructure, creates crumbling infrastructure and has completely divided the country by regions. The average citizen has no benefits to the wealth or tax cuts. Housing has practically gone all private making it unaffordable

[bryanwilson]

You work for 40yrs to have $1m in your retirement, Meanwhile some people are putting just $10k in a meme coin for just few months and now they are multi millionaires. I pray that anyone who reads this will be successful in life

[Radixos]

Great analysis. I'd love to see a more detailed video looking into future prognosis.

[TheBritalianJob]

Narrator: “4 leaders in 5 years, unprecedented in western democracies”
Italy: Hold my Peroni