video UK · 25 September 2022

Post-Budget: The Reality of the Cost of Living Crisis

This video from a socialist think tank discusses the UK's cost of living crisis, arguing mainstream media misrepresents its causes and solutions. It features a union representative detailing the severe impact on workers, including food insecurity and reliance on food banks, and an economist explaining how wealth inequality, exacerbated by recent budgets, drives the crisis, criticising the opaque nature of economic discourse.

By Gary Stevenson

Mentions Boris Johnson

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Arguments in this video

Rewards productive investment Gary Stevenson · 26:58
“once rich people have a lot of cash they can invest that … they will speculate, do all those things, and that money will then return more money to them”
Discourages saving and enterprise Gary Stevenson · 14:19
“if you smash an equality through the roof you destroy the economy and destroy a living standards for ordinary people”
Taxes wealth like work Gary Stevenson · 15:57
“broken economies need to be fixed with taxes you know you need to be taxing money out from the wealthy people from the wealthiest to give it to everyone else be”
Government spending is too high Gary Stevenson · 21:31
Raised as a counter-argument to rebut. “we've been told for years and years that deficits are at these awful things and you can never ever run a deficit and you've got appeared back which is I think e”
Raises real revenue Gary Stevenson · 10:35
“if you were to tax the entire wealthy class enough to make them as rich as they were before covert started you could give every single adult in the entire count”
Curbs extreme inequality Gary Stevenson · 40:48
“if you allow the rich to get richer if you allow inequality to increase a massive rate that hurts you your family your kids ability to buy houses your ability t”