video UK · 30 March 2025

Why Labour is crushing your living standards

This video argues that Labour's "austerity 2.0" policies and the resulting decline in living standards are driven by a long-term economic trend called "the squeeze out." This phenomenon, rooted in wealth inequality, sees the rich out-competing other classes for assets, leading to increased debt and reduced wealth for ordinary people. The video contrasts this with the post-WWII period where wealth was more broadly distributed.

By Gary Stevenson

Mentions Rachel Reeves, Thomas Piketty

Open the video ↗

Arguments in this video

Limits dynastic wealth Gary Stevenson · 09:30
“But in the 50s, 60s, 70s, we had very high rates of tax on the richest, which basically prevented the rich from accumulating money and buying up the assets.”
Taxes wealth like work Gary Stevenson · 28:08
“We're campaigning on this channel to tax wealth, not work.”
High costs already force working families to sell Gary Stevenson · 12:59
“What they are doing is they're using it to squeeze the weakest hands, which is the historical working class, out of ownership of assets, out of ownership of pro”
Curbs extreme inequality Gary Stevenson · 03:35
“I think the squeeze out is a focus on really the most damaging and most dangerous direct consequence of wealth inequality for ordinary people, which is that the”
Government spending is too high Gary Stevenson · 01:06
“Why is Labour choosing to do austerity 2.0? What are the reasons driving basically the need for, for Labour to do this? Why are they being forced to do this?”
Strengthens social cohesion Gary Stevenson · 27:23
“Eventually, there is no wealth left other than that held by the rich, and the physical structure of your society changes such that it only supports consumption ”