Business UK
The Bank of England ostriches need to remove their heads from the sand | Jacob Rees-Mogg MP
‘It’s now time the ostriches of the Bank of England remove their heads from the sand, stop flapping about, and began to realise how serious the problem is.’
Jacob Rees-Mogg MP reacts to headline inflation remaining at 8.7% for May.
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Labour minister REFUSES to admit that mass immigration has caused youth unemployment
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Labour’s Work and Pensions Secretary Pat McFadden MP comes under intense pressure from Camilla Tominey as she challenges him over rising youth unemployment and the role that mass immigration may be playing in the jobs market. When asked directly whether mass immigration has had an impact on youth unemployment, McFadden refuses to give a straightforward yes-or-no answer, leading to a tense exchange over Labour’s economic policies and their effect on young people struggling to find work.
The debate quickly escalates as Tominey points to the growing number of young people who are not in employment, education or training, arguing that the problem has been worsening for years. She presses the minister on whether Labour’s policies are helping or hindering efforts to get more young people into work, accusing the government of making an already difficult situation worse. McFadden defends the government’s approach, but the clash highlights the wider political debate over jobs, immigration and economic growth.
The interview also turns to the welfare system, with Tominey questioning McFadden over the dramatic decline in face-to-face appointments for people claiming Personal Independence Payment (PIP). As concerns grow over support for vulnerable claimants and the effectiveness of government services, the Work and Pensions Secretary faces further scrutiny over whether enough is being done to address the challenges facing both jobseekers and benefit recipients. Watch the full exchange and decide for yourself who comes out on top.
#labour #massmigration #welfare
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Business UK
WATCH: Chris Philp SQUIRMS in Camilla Tominey GRILLING on government benefits and welfare failures
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‘Mr Philp when did the pandemic end?!’
Watch Camilla Tominey grill Shadow Home Secretary Chris Philp on his party’s record in government, after it significantly reduced face-to-face benefits assessments, with the Conservatives pointing to the pandemic as a factor.
#GBNews #UKNews #Tories #Labour #Politics #LatestNews
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Sir Keir Starmer has hit back after Sir Tony Blair attacked the PM’s choices in government.
In an essay published by the the Tony Blair Institute for Global Change, the former Prime Minister criticised the current chaos engulfing the Labour Party, arguing it has an “extraordinarily retro 20th-century feel to it”.
#KeirStarmer #TonyBlair #Labour #ukpolitics #GBNews
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Business UK
Former Labour MP: I felt like the loneliest person in the Labour Party on election night
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@robertallen591
January 21, 2024 at 7:37 pm
who can i blame, mogg
@soosoobear
January 21, 2024 at 7:37 pm
Moggy you are part of the problem , look at your own party's record , Truss flushed millions down the loo . Sunak is a waste of space .
@tonygyles7351
January 21, 2024 at 7:37 pm
Politicians use to resign in the past when they made mistakes. Now they just cover it up and lie.
Vote the lot of them out.
@davidwalsh387
January 21, 2024 at 7:37 pm
What we need in this country to get rid of net zero after covid government have been hell bent rushing to many issues first we need to get fracking drilling coal mines get the country back on it's feet and do one thing at a time we need to get economy healthy all this change is unsustainable people can't cope with drastic change
@SeeDeeSea
January 21, 2024 at 7:37 pm
Of course Moggy is right. If the government borrows more, then the perceived demand for borrowing increases and interest rates go up, eventually affecting Joe Bloggs.
@davidrobertson1810
January 21, 2024 at 7:37 pm
The lack of responsibility from our leaders is unfortunately not a surprise
@hannofranz7973
January 21, 2024 at 7:37 pm
Not to mention the import costs, costs of distribution and labour shortages due to Brexit. Food inflation is a direct result of Brexit.
@hholton7245
January 21, 2024 at 7:37 pm
In this present crisis, government is not the solution to our problem; government is the problem. (Ronald Reagan)
@nigelalanwood6781
January 21, 2024 at 7:37 pm
So long as we have enough to send to the Ukraine f all else matters.
@patriciaharding7040
January 21, 2024 at 7:37 pm
AND THIS government gives away OUR money to MIGRANTS the FRENCH and NOW TO the E.U. VOTE THE REFORM PARTY
@ianjohnson4753
January 21, 2024 at 7:37 pm
Out to lunch bailey has lost the plot
@ivermektin6874
January 21, 2024 at 7:37 pm
Tens of billions handed out to your friends under the guise of pandemic response though you redundant pencil.
@rohanharridge5579
January 21, 2024 at 7:37 pm
The US could restructure supply chains after covid, reducing their supply shock inflation.
The UK voluntarily buggered our supply chains up permanently during covid by Brexiting so our inflation is locked in until we reduce trade friction with our largest market again.
Your lot said Brexit would mean cheaper food.
@paulhurley635
January 21, 2024 at 7:37 pm
The Idiocy that is the ",
NET ZERO " Policy that that UK government is following is also a major cause of runaway inflation, they are destroying our base Energy producing plants making Enery ever more expensive which Manufacturers, Service providers , Transport and food suppliers then pass on those high energy costs to consumers thus raising inflation, ENERGY IS THE PROBLEM.
@kristoffscuba5466
January 21, 2024 at 7:37 pm
There are 3 factors, they are:
1. Money printing
2. Money printing
3. Money printing
@graemecarnegie7821
January 21, 2024 at 7:37 pm
It’s too late currency reset on it’s way! Cbdc implementation coming soon.
@colinmelling6369
January 21, 2024 at 7:37 pm
I would suggest that the government take back responsibility for the Bank of England decisions. However the Tory record of decision making since getting in power getting power is nothing but abysmal so the outcome would probably be the same.
@bmac3093
January 21, 2024 at 7:37 pm
The solution lies in not believing the lie that interest rate rises control inflation. There is no central bank study to support it.
Japan has zero rates since 2016 and has 3.7 % inflation
The Swiss are similarly placed in inflation with 1% rates
This is just a ruse to boost bank profits to push gdp up so (as pointless as that is as an indicator of a nations health ) so they don’t get recession jibes chucked at them ( which is counter productive given a drop would indicate a reduction redressing previous hikes due to the initially temporary price shocks from the Ukraine war.
@stitcheruk1150
January 21, 2024 at 7:37 pm
In the past year the UK had two months of higher increases than in the USA – possibly currency related. Once these months fall away in late 2023 out rate will drop – unless there are more price increase in the pipeline.
@DavidGetling
January 21, 2024 at 7:37 pm
By far the biggest of the causes are the lockdowns, which the REAL EXPERTS, like Oxford University's Sunetra Gupta, advised against right from the start. As for the Bank of England and interest rates, its behaviour on this makes me question its independence: they seem unwilling to upset the government. There should have been AT LEAST 0.5% interest rate rises, not pathetic piddling 0.25% rises. It's like giving at patient a quarter of the dose of a medicine, because the taste is unpleasant, and wondering why he isn't recovering.
@cyberlizardcouk
January 21, 2024 at 7:37 pm
i don't care what any of the economists say, we should return to a gold backed currency and await from the fiat currency whose value is no more than the plastic it is printed on.
@markreynolds224
January 21, 2024 at 7:37 pm
The blame falls on the 70,000 tory members who selected Liz Truss as PM? How much damage to the economy she and kwasi achieved in only a few days.
@Redpilled66
January 21, 2024 at 7:37 pm
Isn't this guy supposed to be working for his constituents instead of talking crap on a corporate news show?
@user-ew4hh6ic3j
January 21, 2024 at 7:37 pm
Don't take on lots of debt, this allways happens and allways will .
@clivehutt2709
January 21, 2024 at 7:37 pm
This would be funny if it wasn't coming from a guy who is in no small part responsible for this mess.
@section5760
January 21, 2024 at 7:37 pm
Stop the f…en dingy boats 🚤 from France would be a good start. 3 million a day. Stop giving foreign aid to other countries and think of your own should be the number one priority for any government in charge. And start deporting illegal migrants from this country. We are a island not a continent for god sake. 🏴🏴🇬🇧☝️
@Andrew-rc3vh
January 21, 2024 at 7:37 pm
Ostriches are lean and mean, not like fat cats. They can run at 40mph
@elkpaz560
January 21, 2024 at 7:37 pm
You're assuming that they actually want the British economy to flourish.
@japfourme381
January 21, 2024 at 7:37 pm
It’s the energy prices that need tackling, this government are doing nothing to stem future energy price increases, they need to be seen to be tough on energy pricing! It’s causing uncertainty in the markets!!
@christineross4155
January 21, 2024 at 7:37 pm
Net zero has had a massive impact on inflation.
The USA have maintained much lower energy costs due to fracked gas and oil reserves.
The Bank of England is part of the problem due to serious miscalculations regarding maintaining ridiculously low interest rates for far too long lulling people into a false sense of security which resulted in over borrowing. The bank then compounded this mistake by failing to raise interest rates when they should have.
Pathetic, irresponsible and dangerous and even harder to understand, still in charge.
@tropics8407
January 21, 2024 at 7:37 pm
What you need is populist politicians to stop the vote buying spending with money they do not have. And they are still shoveling the printed money out the door into bank accounts.
@forthyone
January 21, 2024 at 7:37 pm
ha ha ha
@billyf5591
January 21, 2024 at 7:37 pm
All this inflation and interest rate rises, fuel, food energy increases is all contrived. We, the taxpayer are paying back the covid money dished out and a failed brexit, oh, and I forgot Truss and Kwarteng who did their utmost to crash what is left of the UK economy. Why are these two not in jail??. Along with Johnson, Mogg, Cameron and most other Tory ministers. They should all be incarcerated on the grounds of public safety.
@DD-fc1rv
January 21, 2024 at 7:37 pm
His government has been in power for 13 years, and it still nothing to do with them! Bogg fans must be really stupid to fall for his deflection time after time. It's all because of bogg and his cronies that this country is on its arse. It really is that simple.
@imwithstupid00011
January 21, 2024 at 7:37 pm
Didn't know reesmogg was head storyteller of Jackanory these days?
@davidbaker5561
January 21, 2024 at 7:37 pm
Keeping interest rates close to zero was Tory Party policy after 2010.
It was necessary to counteract their failed “austerity” policies.
George Osborne said:
"Theory and evidence suggest that tight fiscal policy and loose monetary policy is the right macroeconomic mix to help rebalance an economy in the state I've just described”
"Maintaining low market interest rates is also crucial in an economy as indebted as the UK; it smoothes the process of deleveraging."
Tories like Jacob are the cause of our problems.
🙄
@martin-jj9pe
January 21, 2024 at 7:37 pm
He is 100%, we should not be giving Ukraine no money or weapons when are we going to stop giving money away to other countries and start to look after the British public
@craigjeffries8733
January 21, 2024 at 7:37 pm
nowt to do with qe then