Why the UK's Economy Stopped Working

Bloomberg Originals
Bloomberg Originals
504,801
0
Publicado 2024-06-21
The UK’s new government will inherit an historic economic challenge as a result of Brexit, the pandemic, Russia’s war on Ukraine and the debt burden exacerbated by all three. Inflation is just one obstacle facing the Labour Party under Leader Keir Starmer, the Conservatives under Prime Minister Rishi Sunak or whomever the country chooses. While raising taxes or increasing debt are unlikely options, there is a potential solution to Britain's economic crisis: increasing productivity and efficiency.

00:00 Introduction
01:10 New UK government
01:34 Covid and the energy crisis
02:54 Interest rates
03:20 UK’s debt problem
04:20 Productivity and efficiency
05:38 Missing workers

Read more from Bloomberg here, Labour’s Cautious Pitch for UK Power Ducks Hard Economic Choices, and get The Readout newsletter for essential insight on the stories that matter for the UK.

--------
Like this video? Subscribe: youtube.com/Bloomberg?sub_confirmation=1

Get unlimited access to Bloomberg.com for $1.99/month for the first 3 months: www.bloomberg.com/subscriptions?in_source=YoutubeO…

Bloomberg Originals offers bold takes for curious minds on today’s biggest topics. Hosted by experts covering stories you haven’t seen and viewpoints you haven’t heard, you’ll discover cinematic, data-led shows that investigate the intersection of business and culture. Exploring every angle of climate change, technology, finance, sports and beyond, Bloomberg Originals is business as you’ve never seen it.

Subscribe for business news, but not as you've known it: exclusive interviews, fascinating profiles, data-driven analysis, and the latest in tech innovation from around the world.

Visit our partner channel Bloomberg Quicktake for global news and insight in an instant.
Todos los comentarios (21)
  • @Riggsnic_co
    Some economists have projected that both the U.S. and parts of Europe could slip into a recession for a portion of 2023. A global recession, defined as a contraction in annual global per capita income, is more rare because China and emerging markets often grow faster than more developed economies. Essentially the world economy is considered to be in recession if economic growth falls behind population growth.
  • @yemiojo2265
    When your economy is full of consultants and not manufacturers, how do you expect the economy to perform?
  • @alexsteven.m6414
    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.
  • @glassmuxxic
    Mismanagement, incompetence, bloat and brexit.
  • @NicholasBall130
    The UK economy cannot survive without continuous credit and debt creation. The FED will print more money and the average American will go just that much further in debt. Meanwhile, foreigners lust for the greenback. Their economies are in worse condition than the US... if that's even possible. Someone is going to be left holding the bag...
  • @alexander1989x
    According to this, the problem is not having enough engineers. I'm an engineer and can't find work in the UK. We don't have a productivity problem. We have a failing business environment problem.
  • @lephtovermeet
    Since Thatcher the UK has decided that they can be an only service economy. They also bend over backwards for insanely wealthy people. Turns out that doesn't work.
  • @Knifeys
    That 280 billion pounds went directly towards Tesco and British Gas annoucing record earnings one year later...
  • @Ryan-gh4iz
    If the UK does invest heavily in certain industries, I highly suspect that money is just going to over paid managers
  • @crabbieappleton
    This is why Sunak called the election: dump all the problems on Labour and sneer at any solution.
  • @felixlpilon
    Tax-to-GDP in the UK is grossly overrated, London being a tax haven where it is shockingly easy to hide money and where speculation is the only industry.
  • @wenterinfaer1656
    Living in London, where nothing seems to be working correctly, is just a mental breakdown every day
  • @maartenaalsmeer
    The UK must be the only European country that still blames the pandemic for their current economic situation. If other nations have recovered from the pandemic by now and the UK hasn't, might there be another issue? One that's only affecting the UK? Now what could that be?
  • @BrewerVera
    Our economy is like a flailing fish, fighting for its life. The normal state of the U.S. 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.
  • @wesselmartens1621
    1 Prints a fk load of money 2 Causes massive inflation 3 Expects to pay low interest on debt