UK is Declared ‘Broke and Broken,’ But What’s Gone Wrong?
By CGTN
Nearly one month after it was elected to run the world’s sixth-largest economy in a landslide victory in early July, the new UK Labour government led by Keir Starmer declared the nation was “broke and broken.” UK Finance Minister Rachel Reeves has announced a slew of spending cuts after detailing how the new government has inherited a projected overspend of 22 billion pounds from previous Conservative governments. And all this is taking place as violent riots grip the country in the wake of a stabbing tragedy. Is the UK truly broke and broken? What has led the UK – the empire on which “the sun never sets” – to the verge of national bankruptcy? And what can be done to drag the nation out of its many crises?
Guests in this edition of Dialogue are Marc Ostwald, chief economist and global strategist at ADM Investor Services International; Nina Skero, chief executive of the Centre for Economics and Business Research; and John Ross, senior fellow at the Chongyang Institute for Financial Studies at Renmin University of China.
Here’s what others had to say:
@jason-us8pc
THE JOKE IS THAT THE UK CANNOT MANAGE ITS INTERNAL AFFAIRS BUT HAS TIME TO WORRY ABOUT UKRAINE?
@ToiChutGongWu
Here’s hoping all those Hongkongers who moved to the UK for their “freedom” and “human rights” are happy in their new, dystopian, home.
@DarkVader-jj4dt
Won’t stop the U.K. lecturing other countries on fiscal policies.
@idonthavealoginname
The UK economy is all smoke and mirrors .We have low wage ,low skill service jobs with very little well paid high end, high skill jobs to drive the economy .The country is so run down its becoming very gloomy and depressing yet we pay higher prices for services /Housing etc than Europeans which is bleeding people dry . To me the UK is done.
@Chucku153
Stop following America and poking your nose in the affairs of other countries.
@TheHikuky
Disappointed with the lack of correge in addressing the big elephant in the room , which is Americans invasion of the UK and particularly England . 40 years later Americans control and own 75 % of the countries , politicians , financial services, and government personnel . Left English people poorer and poorer daily and without protection . A total silence on the matter…
@Kilimangerro
That’s what happens when you bestow on yourself the title of American poodle.
@geoffreywilliams9324
Great Britain is becoming more and more insignificant on the world stage.
@Jakez408
No cheap oil and gas for Britain to the EU and passed on by middlemen from Russia ,and no plentiful fish from Russia for fish n chips. The potatoes they can grow themselves.
@dilligafwoftam985
UK govt does what the ‘elites’, the unelected swill, want and not what the UK citizens want. Then Starmer or whatever whinges when citizens protest. Pathetic.
@stephencalder1583
Plenty money to fund US imperialist wars. But not for our public services or NHS.
@bobcharles7716
22 billion pounds over spend is nothing for the UK. Just get a peace deal going in Ukraine and the UK and save that in year!
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Original source: https://www.youtube.com/watch?v=AHGCv6elCiE
