Beyond Brexit and Political Turmoil: What’s Next for the UK ’s Economy? - Martin Wolf

Between September and October 2022, the #UnitedKingdom witnessed a rotation of three individuals in the position of Prime Minister. The newly inaugurated Prime Minister Rishi Sunak has inherited a treacherous #economic #recession and now faces the challenge of stabilizing the #U.K. #economy. According to the Office of National Statistics, #Britain had the worst-performing economy of any #G7 country in the third quarter. How have #Brexit and the #pandemic affected Britain, and what are the ways that Britain can improve its economic circumstances? To guide us through these concerns, join us for a virtual discussion with Martin Wolf MBE, Associate Editor and Chief Economics Commentator at the Financial Times in London.
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0:00 Introduction
2:10 Factors of the Economic Crisis
10:59 What policies can the UK government set?
15:30 Income Inequality
19:22 Short-term economic future
25:20 Long-term economic resilience
31:49 What kind of government does the UK need to ease relations with the EU?
39:59 Attracting innovation to the UK
46:12 Is the political system incompatible with long-term economic progress?
53:26 Northern Ireland Protocol
57:16 Conclusion and Upcoming Events

[kevinwillis]

Before any moves can be made towards fixing the economy, the UK population, the media and political parties have to be honest about what has happened and what it will take to fix it. At the moment this isn't the case, the average voter has a very poor grasp of politics and it's effects on daily life beyond soundbites, and the education system is a complete faliure at addressing this. Martin is spot on in his assessment of the quality of modern politicians on the whole. Britain needs to come to terms with the fact it is no longer a major economic power and has a declining geopolitical influence and a deteriorating trust base amongst it's European peers. Martin is correct in his opinion that's transforming the energy system to a more renewable and efficient environmentally system, the location on the edge of the atlantic provides sizeable potential for transitioning to offshore wind and wave power, it will also have the effect of boosting employment and future proofing energy security. Having stated all that I wouldn't hold my breath that this will be done.

[terencefield]

Any objective review of the British economy cannot avid the conclusion that the quality of governance since 1945 has been little short of disastrous. To suggest, as I have heard recently, that the state has many choices to escape its vertiginous decline is fantasy. It is not any longer a first world state, and is not of great consequence

[laogong]

Illuminating only the the darkness. Tragic

[haroldbridges]

Wolf's criticism of Starmer is inept. Starmer does have to have a well thought out manifesto and he will, but now is hardly the moment to bring it out since it would only shift the political discussion away from the Torie failures. Starmer will be ready for the next election. His manifesto will in part depend on how far public opinion has progressed from dissatisfaction with Brexit to a willingness to rejoin. They aren't there yet.

[grahammidwinter]

Try looking at the economic mess the EU is in, it's collapsing economically. Stop ranting about Brexit.