Full transcript
0:00I hate to say I told you so, but I think
0:01I was right. Andy Bernham wants more
0:04state control. That is to say that he
0:07wants the state to control business and
0:09money and in turn probably everything
0:12else. The somewhat likable character who
0:15was shipped in to replace Karma who was
0:17almost universally unpopular. Andy
0:20Bernham is coming in as a more likable
0:21character but now showing his true
0:23colors in that he wants the state to
0:25have more control. And this is
0:27shockingly and alarmingly similar
0:29parallels to what the EU is saying at
0:31the moment when it refers to people's
0:33savings as lazy money that it wants to
0:37put this to use elsewhere. More about
0:40that later in the video. But first,
0:42please do subscribe to the channel. I'm
0:43an independent voice. I'm going to
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0:57Believe it or not, it is absolutely
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1:00they've been unsubscribed without their
1:02doing so. So, please do subscribe. Thank
1:04you so much. So, apparently we are now
1:05being told that the only way to grow the
1:08economy in this country, the British
1:10economy, is to have more state control.
1:12And with great respect, I think that
1:14demonstrates a fundamental
1:16misunderstanding of what actually
1:18creates economic growth. Now, I don't
1:20want to brag or grandstand or anything
1:22else, but I've grown businesses for
1:24many, many years from absolutely nothing
1:28through economic turmoil, through
1:30disastrous times, and still come out the
1:32other end being prosperous. Yes, I've
1:34made lots of mistakes as well. And if
1:36you want to hear about my mistakes and
1:38how to avoid those and create wealth,
1:40join my money channel linked below. That
1:42is almost 100,000 subscribers now. So,
1:44thank you so much. But my point is I
1:46started businesses at a time when banks
1:49just didn't even want to open a bank
1:50account because I said it was too risky
1:52for them to do so because this online
1:54business is quite risky. They literally
1:57told me it was a risky thing to open a
1:59business account for an online business.
2:01Believe that. But now we have
2:03governments who think that they
2:04understand businesses when they think
2:06that the only way to do it is state
2:08control and that's all that's going to
2:09work. But governments don't create
2:11wealth by taking control of things.
2:14Businesses create things. People take
2:16risks. Entrepreneurs take risks and
2:19invest. And successful entrepreneurs and
2:22venture capitalists who have the money
2:24to invest and are able to do so. Other
2:27people save their money, invest their
2:29money, start companies, employ people,
2:31build things and invest in more things
2:33and occasionally they lose everything in
2:35the process. That is the spirit of
2:37entrepreneurship. But you'll not find a
2:40single entrepreneur. I promise you you
2:42will not find a single entrepreneur who
2:44is successful who has not also at some
2:47stage either lost everything or come
2:49very close to losing everything. The
2:52very reason they are successful is
2:53they've been through this process. They
2:54fought through hard times and they have
2:57made it successful.
3:00But state control to achieve the same is
3:02simply not the answer. And the more
3:05freedom people have to do those things
3:07themselves by choice, the more dynamic
3:10the economy will become. [snorts] But
3:12the direction that we are seeing here is
3:14increasingly to be precisely the
3:17opposite. More government, more
3:19regulation, more red tape, more state
3:22control, more public ownership, and
3:24increasingly more government influence
3:26over where your money is spent. Because
3:30everything that you earn and work for is
3:32sliced up by the government. and they
3:34decide where to spend it and on whom to
3:36spend it. And there is, as I say,
3:39something else happening in the EU right
3:41now, which is very indicative of what we
3:43might see here. When it comes to all of
3:45the talk about recent leaders and
3:46politicians saying that we need to move
3:49closer to the EU, to be bolder at moving
3:51back towards the EU and everything else,
3:54again, as a disclaimer, I voted remain
3:56because I thought that we'd screw it up
3:58and as it turns out, I think we did. But
3:59all that aside, the talk about a move
4:02closer to the EU, now we have to look at
4:05what the EU is. So September is here and
4:07the summer is over and suddenly the
4:09calendar is filling up again.
4:10Back-to-back meetings, calls stacking up
4:13and conversations happening faster than
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6:08black 12 and order yours today. But the
6:11problem is things have changed since
6:12then. The direction of the EU has
6:14changed since then and it is drastically
6:16different. And there is something
6:18happening in the EU right now which I
6:20think should make everyone in the UK
6:22alarmed frankly, but also certainly pay
6:24attention because if we do move closer
6:26to the EU, we're going to get more of
6:28the same here. And this isn't just about
6:31who owns the water companies and the
6:33railways. This is very much bigger than
6:35that, very much broader than that. It is
6:38about ultimately who decides what
6:40happens to your money. So let's talk
6:43about those two things in turn. Andy
6:46Bham is addressing Parliament with a
6:48very clear message that more essential
6:50services should be brought back under
6:52state control. And according to these
6:54reports, his arguments are that greater
6:57public control of utilities and
6:58transport etc. are necessary to unlock
7:01investment, jobs and economic growth. So
7:04for example, water, energy, transport,
7:06buses, etc. But we've seen what happens
7:09with some of those. The government even
7:11reportedly is considering legislation
7:13that could make it easier to bring
7:14struggling utilities such as temp's
7:16water under government ownership. And
7:18Andy Bernham has apparently described
7:21these things as a 10-year project. Where
7:24have we heard that before? Now, there's
7:26a perfectly legitimate political
7:28argument for nationalizing certain
7:30services. Many countries do it and many
7:33countries do it successfully. And for
7:35them, it's always been the norm. And
7:38let's to be fair and cover some of those
7:39arguments because some of these water
7:41companies, for example, have not exactly
7:43covered themselves in glory. Some of
7:45these people are furious about sewage
7:48and lots of other things and bills have
7:51risen. And some privatized services have
7:53indeed performed very poorly. And if
7:56someone wants to make the argument that
7:58a particular monopoly or essential
8:00utility should be better operating under
8:02public ownership, then fine, make that
8:05argument. But it is very different from
8:07saying that a greater state control is
8:09somehow the answer to Britain's economic
8:12growth problem. That simply isn't the
8:15answer. Because the state taking
8:17ownership of something doesn't magically
8:19make it more productive, more effective,
8:21or more cost effective. It doesn't
8:24magically make it cheaper. If anything,
8:26knowing how some of these things have
8:28run, it will probably make it more
8:29expensive. Think HS2 and the billions of
8:32pounds that have been spent there. And
8:34look what we have now. So let's take HS2
8:38by way of example. Originally announced
8:40in 2009 or so with parliamentary
8:43preparation beginning shortly
8:44afterwards, the spend so far is
8:47something in the region of 44 billion
8:50with the current program up to March 26.
8:53If the expenditure on the cancel part of
8:56phase 2 is included, then this is even
8:58more by a few extra billion pounds. The
9:00current projected cost is something in
9:02the region of 100 to 112 billion pounds.
9:06And what will we actually get for all of
9:08that? A London to Birmingham service
9:11rather than the originally envisaged
9:13Y-shaped network with Manchester and
9:15Leeds included with the first passenger
9:17service is now expected between 2036 and
9:202039. And the full Houston to Birmingham
9:23scheme by maybe 2040. This was to create
9:27a journey that we already have and make
9:30it marginally quicker. Let's compare
9:33that for a moment with somewhere like
9:34China and China's Beijing to Shanghai
9:38highspeed railway. This was designed for
9:40350 km an hour connecting two massive
9:43cities. Construction began in April 2008
9:46and it opened for commercial service in
9:492011 with an approximate cost of 21
9:52billion. So comparing that directly with
9:55HS2, which is a roughly 225 km as
9:59opposed to 1,318
10:01and a projected cost of 112 billion
10:03pounds as opposed to 21, but it's not
10:06ready until maybe 2030 or 2040, who
10:09knows, when China took 39 months to
10:12build something vastly more impressive.
10:14And so this is the result. This is the
10:16very real result of state control
10:19building this kind of infrastructure in
10:21one country where it might work. and one
10:24country where it may not work. It is
10:25frankly embarrassing. So forgive me for
10:28being cynical when they say state
10:30control is the only way to generate
10:32economic growth. It doesn't make things
10:34cheaper. It doesn't make it economically
10:36cost effective and it certainly doesn't
10:39create wealth. At the end of the day,
10:41the government has to obtain that money
10:43from somewhere. And where do you think
10:46that money is going to come from?
10:47Ultimately, there are only two places
10:50that can come from, and that is
10:51primarily taxation and borrowing, which
10:54is at an all-time high. Or to put it
10:56another way, money that would otherwise
10:58have remained in the private economy,
11:01either among individuals or companies
11:03who are actually going to generate
11:05economic growth from it and employ
11:07people with it. This is the bit that
11:09they seem to overlook. The government
11:12doesn't have its own money. It is our
11:14money. It's your money. It's my money.
11:16and it's business's money. If they
11:18really want to understand why the
11:20economy is not growing, I would
11:22respectfully suggest some fundamentally
11:24different questions perhaps. Why are
11:26businesses not investing and growing?
11:29Why are entrepreneurs not starting more
11:32companies and employing more people? And
11:35why are successful people leaving the
11:38country in their thousands? We have
11:39millionaires leaving the country at a
11:41greater rate than ever before. and other
11:43people will have to pick up the taxes
11:45that they were paying that they are no
11:47longer paying. And why do so many small
11:50businesses feel that employing someone
11:52is becoming a liability and costly and a
11:55danger and a difficulty rather than an
11:57opportunity to grow their business like
11:59it always used to be. It always used to
12:01be the successful thing. If you're
12:03employing more people, your business is
12:04growing. And why do people with capital
12:07and money increasingly look to invest
12:10elsewhere? People in government
12:12constantly look at our economy and ask
12:14why are people not investing in UK
12:16companies as opposed to US companies.
12:19And the answer is that people invest
12:21elsewhere because there's growth
12:22elsewhere. And the answer to all of
12:24these questions is the real answer
12:26behind real economic growth. You need
12:29people to be willing to risk their own
12:31money in the hope of creating something
12:33more valuable. Whether that's investment
12:36or whether it's growing a business. I
12:38personally sacrificed so much over 30
12:40years of being in business since my
12:42teens. I sacrificed holidays. I
12:44sacrificed the nice things that I would
12:46have had otherwise throughout those
12:48years to get my business growing, to
12:50keep it growing, to get it to a point
12:52where it now supports me and I can do
12:54the things that I want to do and I can
12:55buy the things that I want to buy. It is
12:57the sacrifices that make these things
13:00work. And you need to be allowed to make
13:02these decisions and choices yourselves
13:05rather than the government deciding them
13:07for you. Now, of course, the government
13:09has a role, infrastructure and education
13:12and the courts and regulation and
13:13everything else. But if we look at those
13:15areas, the courts regulations and we
13:18look at how those systems are running,
13:20they are certainly not effective.
13:21They're certainly not cost-ffective. So
13:23what we often get is more systems that
13:25are also running ineffectively and not
13:28cost effectively. If you look at the
13:30legal aid system, if you look at the
13:31justice system as a whole, the court
13:33system, the prison system, the NHS,
13:36again, and I know some people don't like
13:38me to compare with China or talk about
13:40China sometimes, but I happen to know a
13:42lot about China, and it's not what a lot
13:44of people seem to think it is, but let's
13:46compare for a moment since I think
13:48people who think that way might see the
13:50comparison here. There are hundreds of
13:54thousands of people waiting for an MRI
13:56scan in the UK on the NHS right now.
13:59Hundreds of thousands of people at the
14:01end of March. If I find it, I'll put the
14:03figure on screen. Whereas in China, you
14:05could walk into a hospital and get an
14:07MRI scan within an hour for around £50.
14:10You could see the doctor, get an
14:12assessment, get a scan, get the results,
14:14get it looked at, get seen to, get
14:16treatment, get a prognosis, etc. all
14:18within an hour for maybe £50 for the MRI
14:21scan. That is the very real reality in
14:24the vast majority of developed cities in
14:26China right now. So although there are
14:28some things that a government should do
14:30and perhaps only a government should do,
14:32the government should also create the
14:33conditions in which people and
14:35businesses can prosper, it shouldn't
14:37just assume that prosperity comes from
14:39governments deciding where all the money
14:41goes and how people should operate and
14:43how they should work. Because once you
14:45go down that road where the government
14:46starts to decide all these things, where
14:48does it stop and where does it end?
14:50Because that brings me to Ursula
14:52Vanderlayan, the president of the
14:53European Commission, who just said, and
14:56I quote, that people's savings are
14:58apparently lazy. Literally, the
15:01president of the European Commission
15:02just said that about European savings
15:04sitting in a bank account. There's
15:06currently something in the region of 10
15:08trillion pounds in household savings
15:10sitting in European bank deposits
15:12because people have saved and worked
15:14hard for that money. But Ursula
15:15Vanderlean has just described them as
15:18lazy. So let's think about what that
15:20means for a moment. These are people's
15:22savings, money they've earned and paid
15:24taxes on and then saved for whatever
15:26reason. And if the UK follows suit,
15:29it'll be your savings and your money
15:30that you've earned that you've already
15:32paid tax on and you've decided to save
15:35that the government might decide to put
15:36somewhere else. Maybe you're saving for
15:39a house. Maybe you're approaching
15:40retirement or planning on retirement or
15:42maybe you're, you know, worried about
15:43losing your job. Whatever the reason
15:45might be, maybe you simply don't want to
15:47put your money in the stock market
15:49because you don't understand it, which
15:50is sensible. If you don't understand
15:51something, you should stay away from
15:52investing in it.
15:54Maybe it's just too much risk for you.
15:56Maybe you want to keep it in savings.
15:58And apparently that money, according to
15:59Ursula, is now lazy. And the European
16:01Commission apparently wants that money
16:03to be put to work in the European
16:05economy. Again, state control. The state
16:08trying to decide where your money goes.
16:10You've heard that phrase before. Now,
16:13the EU hasn't at least yet expressly
16:16said that it's going to take people's
16:17money and savings and do with it what it
16:19wishes, but they are most certainly
16:21directing people to invest in certain
16:23ways. And maybe ultimately it might be a
16:25good thing if people do invest in
16:27safeish investments or whatever. But
16:29then again, they need to understand them
16:31and they need to have a free choice to
16:33do so. But I do find the philosophy
16:35behind it very interesting. They are
16:36calling savings lazy because that's
16:39where the connection with Britain is
16:41particularly interesting because they're
16:42already doing that here to some degree.
16:44Now, I talk about this more on my money
16:46channel, but let's look at what's
16:47happening with ISIS. The annual
16:49allowance for an ISIS is £20,000, but
16:51from April 2027, the amount that you'll
16:54be able to keep in cash falls to
16:56£12,000. The overall allowance will stay
16:59the same, but they are bringing the cash
17:01amount down because they don't want you
17:03to hold cash. It's the same underlying
17:06principle and philosophy. It's exactly
17:08the same as what the EU is saying when
17:10they say your money is lazy. The state
17:12wants you to put that money in
17:14investments. It wants you to invest
17:16somewhere even if you don't want to.
17:18Even if you are just taking advantage of
17:21tax rules to keep the money in a safe
17:23place, which you were already encouraged
17:25to do originally, it now wants to
17:27encourage you to do something else with
17:28it. And now, to be fair, the
17:29government's been perfectly open and
17:31clear about why. Starting with Rachel
17:33Reeves, it wants to encourage retail
17:35investment. In the budget, the
17:37government said Britain had a relatively
17:38low level of retail investment compared
17:40with other G7 countries and that's bad
17:42for business and it needs to investment
17:44etc. which all points towards these
17:47incentives which are designed to have
17:48people invest in Britain. And again, in
17:51principle, that's perfectly fine. The
17:54government isn't necessarily taking your
17:56money. No one's forcing you to invest or
17:59buy shares. But again, it's about free
18:01choice. If you want to keep the cash
18:02around, you should be entitled to do so.
18:04And as I said at the outset, if we
18:06continue down the road of state control,
18:08ultimately that is what's going to
18:09dictate where that money goes. So, I
18:12know this is a law channel and I have a
18:14money channel in which I go into greater
18:15depth on these things, but it is very
18:18important because it is governments who
18:20make the laws and it's policies and
18:23philosophies that underpin how those
18:25laws are made. And when you have new
18:27leaders saying that they want more state
18:29control, more state ownership and
18:31essentially becoming a bit more of an
18:33authoritarian state controlled system,
18:35we have to ask these questions and we
18:37have to ask what sort of autonomy we
18:39really want to maintain. So leave me
18:42your thoughts and comments below. Please
18:44do like the video and subscribe to the
18:45channel. or keep this channel growing.