Why is the UK the Richest and Poorest of Europe?

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London is the richest region of Northern Europe. If it were a country, its GDP would be greater than that of Singapore and Norway, but what would the rest of the country look like? The UK is also home to 9 out of the 10 poorest regions of Northern Europe. The GDP per Capita of the UK without London is lower than that of Mississippi, the poorest of the United States. How has the UK become so unequal?

FULL TRANSCRIPT + SOURCES:

MAIN SOURCES:

Is Britain really as poor as Mississippi? (Financial Times):

Is the UK falling behind other rich economies? Yes, but that’s only part of the story (The Guardian):

Why has Britain become so Poor? (The Times):

[HindsightYT]

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[jfhucka]

Please stop pushing scams, your content is good, don’t throw that away with shitty sponsors

[JasperKlijndijk]

Do not sell me masterwork. You know it is a scam. Some people trust you and will buy a scam because of you

[wiktorkosciuk]

Poland is not a developing country. Referring to Poland as a developing country overlooks advancements and the progress it has made since the fall of communism. Poland is recognized as one of the leading economies in Central and Eastern Europe. It is classified as a high-income economy by the World Bank with diverse and industrialized economy. Calling it such is extremly inappropriate and misleading.

[alesh]

Japan has a very good tax scheme called “Furusato Nōzei” or “Hometown Tax”.
What this does is enable taxpayers to redirect their income taxes away from where they actually live to any tax municipality they like. Tax municipalities compete for taxpayers by offering local products and services for up to 30% of the tax paid. For example, if a Londoner redirects £10000 of his tax payments to municipality A then municipality A can gift the tax payer up to £3000 worth of local cheese.

This scheme is such a success in Japan and it’s enabled income tax receipts to be distributed out of Tokyo, the capital. The scheme has also inspired municipalities to put on public relations campaigns to better communicate themselves, their goods/services, and their values, the better to compete against other municipalities for more tax receipts.

[alesh]

I don’t think comparing the UK to the US makes much sense as the US is a much bigger and diversified economy.
The U.S. has 4-5 regions that are engines of economic activity while the UK only has one.
Also, labor mobility is very high in the US: if you can’t stomach New York rents you can move to the Midwest and get a good job that you still come out ahead. In the UK once you move out of London your prospects really scale down significantly.

[garycarmichael]

I live on the east Kent coast, I can assure you, it’s not rich. There is homelessness, poverty and destitution in many places in the south east of England.

[tomp]

Germany did it right. Make world-class stuff and export it around the world.

[wiktorjachyra]

Poland is not a middle income developing country its literally categorized as high income developed since the early 2000s by the world bank.

[HawRekem]

UK has over 17, 000, 000 House Shortages .
This is the biggest issue in the UK right now

[alesh]

It’s the UK’s fault that they deindustrialized and put their focus on the financial sector.

[ullibowyer]

The top 1% of UK earners make around 180k. Your video says that they make 1700k for every dollar someone in the bottom 90% makes? That's total garbage

[maciej]

Property bubble sucked life out of any country, UK especially stifles income growth, mobility, productivity and increases wage gap, assets accumulation in hands of already rich,

[Skelax]

Did he just call Poland a developing country?

[ffarkasm]

Why is he keep talking about Northern Europe while showing the map of Western Europe?

[carlmaster]

Not all of London and the South East is rich!, nore is all of the North and Midlands poor! Yeah, London and the South East get more government money than the rest of the country, but the rest of the country still had its fare share of wealth.

In my opinion, the government needs to stop over spending on the South East and start spending the money they get everywhere else in the country!

[BoboSLO]

Hahah Slovenia is NOT some third world country.. we live like kings in ur England...

[tommyr]

This makes out like if you dont live in London you're visiting food banks.

Its quite the opposite. Move out of London and get a job anywhere else and youll be able to afford a home and save.


Scotland has some very affordable safe and good places to live where an average salary will give you a home and a good life.

[JVerschueren]

Ok, so I knew Charleroi (the region you ranked 9th poorest ) was bad, but I still thought they'd be ahead of the bordering regions in Northern France. That's a bit of a shock. Direct concequence of the Walloon region having zero responsibility to balance their budget, of course, but still surprising to me.

[velisvideos]

The UK has many problems, but the biggest is the lack of housing. This has led to very high property prices and rents. These in turn make it extremely hard for people to move from the poorer areas to places where the jobs are. The current huge wave of immigration makes the problem even more intractable.