Energy Cliff-Edge Threatens Thousands of British Businesses

Рет қаралды 70,175

Жыл бұрын

The end of the UK government’s energy support scheme threatens thousands of businesses. One bakery’s struggle illustrates why analysts anticipate a wave of insolvencies across the country.
--------
Like this video? Subscribe: kzfaq.info?sub_...
Become a Quicktake Member for exclusive perks: kzfaq.infojoin
Bloomberg Originals offers bold takes for curious minds on today’s biggest topics. Hosted by experts covering stories you haven’t seen and viewpoints you haven’t heard, you’ll discover cinematic, data-led shows that investigate the intersection of business and culture. Exploring every angle of climate change, technology, finance, sports and beyond, Bloomberg Originals is business as you’ve never seen it.
Subscribe for business news, but not as you've known it: exclusive interviews, fascinating profiles, data-driven analysis, and the latest in tech innovation from around the world.
Visit our partner channel Bloomberg Quicktake for global news and insight in an instant.

Пікірлер: 111

@spazzypaddy Жыл бұрын

But it’s record profits over at Shell, BP, and Exxon

@theiceandsnow3998 Жыл бұрын

Same with the banks.

@salkoharper2908 Жыл бұрын

Yes, ultimately that is where a huge percentage of Britains wealth has been funneled into. The large energy corporations like Shell, BP, etc. This is the Government policy the people of this island voted for consitantly for 13+ years though. Not sure why so many are surprised now. The Conservative party were always pro 'Big business'.

@danielvalentino9367 Жыл бұрын

No, UK just implemented windfall profit tax

@claudiamariebermudez6727 Жыл бұрын

Unfortunately small businesses are deeply affected by inflation

@ravenblack2262 Жыл бұрын

Being done by design.

@theiceandsnow3998 Жыл бұрын

You are wrong. It's because of Putin and climate change ;)

@IrhaSiAl Жыл бұрын

Welcome to the system

@888ssss Жыл бұрын

money printing from 2003

@nicktw8688 Жыл бұрын

Consequences of Brexit and a decade of Tory rule.

@johnvonhorn2942 Жыл бұрын

And yet natural gas prices on the world market are slightly lower than they were five years ago.

@Knifeys Жыл бұрын

Dutch TTF is back at july 2021 levels. The energy crisis/cost of living squeeze should be coming down with it but eh...

@ssuwandi3240 Жыл бұрын

The problem is gas storage.. which means nobody is buying when storages are still full Pipelines run 24/7

@andrewallen9993 Жыл бұрын

At least you actually HAVE electricity in South Africa the ANChave broken the electricity supplier till there is no electricity for 10 hours a day recently.

@christinal3041 Жыл бұрын

I know what he meant, I feel the same about my business! Feels so scared and I had a panicked attack in February, but I’m just prying so everything will be ok

@einseitig3391 Жыл бұрын

Snap. I panicked and sold my car to meet the quarterly gas bill. I have to ensure I meet my daily profit target. No chance I will sleep well ever again.

@rockpadstudios Жыл бұрын

they voted for it

@rootpotato Жыл бұрын

If those in power had provisioned in earnest for home grown energy solutions instead of filling their own pockets, making their friends rich, and digging themselves out of scandal after scandal after scandal . . . Maybe, just maybe, we wouldn't be in this terrible situation.

@alexandarvoncarsteinzarovi3723 Жыл бұрын

Dont worry buddy, you me, countless other, regular joes, nerds and scientist will be uplifted whne the aI takes over,

@SevenEllen Жыл бұрын

Here here!

@magesalmanac6424 Жыл бұрын

The only constant in government is greed.

@Mossyz. Жыл бұрын

100% agree

@tomj528 Жыл бұрын

Terrible that forces outside the control of ordinary citizens can upend a multi-generational business. It's a changing world however and survival of the fittest is a cruel master.

@vikas274 Жыл бұрын

I hope UK and US will stop meddling in other countries and focus inside.

@karenmbbaxter Жыл бұрын

It won't answer a lot of their problems but I hope The Devonshire Bakery serves Devonshire Tea.......who wouldn't want to go to a bakery where Devonshire Tea got it's name from and have fresh scones? It's like eating Pizza in Naples.

@kevinheath7588 Жыл бұрын

Problem is we have more and more inequality, so more and more people are being forced out of being able to afford products producers bring to market. Each customer who falls into poverty is another customer businessess lose.

@vickimarlene4905 Жыл бұрын

The price of electricity & gas here in Oz is getting ridiculous too. How do they expect people to pay for it. Gas and power go up….next everything else goes up yet again. Something has to stop.

@starvingbymidnight Жыл бұрын

Tories plan was devolved small businesses and favour for big corporations.

@yofinance1777 Жыл бұрын

The grants and help through Covid prove this was not the case. Gas is more as we stuck with the dollar / USA and not BRIC nations paying Russia in their currency. Wake up and stop reading daily mail

@guff9567 Жыл бұрын

Westminster is NOT FIT FOR PURPOSE

@ellazanardi1726 Жыл бұрын

It's a squeeze

@farazvfx Жыл бұрын

This is what happens when the gov rigs the energy markets with oil companys. You voted for this

@majd_shoots Жыл бұрын

Wow... The workers are almost entirely made up of older people! The europe is truly different from other places in the world

@Entertainment- Жыл бұрын

Not EU

@majd_shoots Жыл бұрын

@@Entertainment- ahhhhhhhh 😂 You got me there 😜

@elipa3 Жыл бұрын

The UK isnt a member of the EU anymore. Did you miss brexit?

@Willburys Жыл бұрын

This Desaster you can see all in Europe!

@JesterEric Жыл бұрын

Not sure how the milk price has risen 40% and at the same time the price paid to a farmer has fallen 30%

@davidstrelec2000 Жыл бұрын

Where did milk rise by 40%? I have experienced a 70% increase in tesco.

@khensley7057 Жыл бұрын

The Devonshire bakery has some amazing looking treats! 😊

@michaelyao57 Жыл бұрын

thanks America, infinity QE, helicopter money, finally we realize what is money, just a piece of rubbish

@rochester212 Жыл бұрын

Don't worry brits, Boris and Nigel will sort things out, like they always do!

@id10t98 Жыл бұрын

As soon as the real owners of the world can crush all the small businesses then prices will drop some more.

@remoir6273 Жыл бұрын

UK was able to survive ww2 by starving bengalis. Now, that it no longer have colonies, i don't know what will happen

@littlegesto5320 Жыл бұрын

May I suggest the UK invest in a pipeline to get cheap gas from... Russia.

@kevinwilde Жыл бұрын

it's always the working-class wages to blame, stop two bob wages and poverty pay along with zero hours, reduce unjustifiable management lavish incomes.

@okamsug Жыл бұрын

It’s not new. The economy is always a cycle, it goes up and it goes down. We all know this already if you live long enough.

@davidk6264 Жыл бұрын

Wage price increases affect businesses, but workers somehow have less money to buy from these businesses. Oil prices are down in 2023, but electricity expenses are up, UK gas comes from their own reserves from the north sea, and they use Nuclear and wind for electricity. And no one can make the excuse of supply chain issues anymore so commodities shouldn't be expensive. This situation makes no sense.

@iwasntaguntilimovedouttheh3961 Жыл бұрын

You are spot on, why are the Government not limiting profits of energy companies? Like they have done in other EU countries.

@majdavojnikovic Жыл бұрын

It does make sense if you observe the direction in which the wealth is moving. People don't realise that we are going back to slavery. Your debt and no opportunity are going to be your chains. We are deeply divided, vertically

@sps6 Жыл бұрын

time to move on from Uk..usa calls

@SevenEllen Жыл бұрын

Noooooooooo! Groceries are DOUBLE the price compared to here, and we'd all be kissing the NHS goodbye. Do you want to pay to save your own life? You have to pay for a mere ambulance to drive you to hospital.

@marcielynn4886 Жыл бұрын

Off the grid in Hawaii for 22 years. Can you imagine how much money I saved?

@WallyTony Жыл бұрын

I thought this was going to be about Cliff Bars because you showed bread. I don't know why.

@carlagarrett8584 Жыл бұрын

offer less expensive treats, and make smaller of everything else only goes so far. What will happen when people cant afford a crust of bread??

@poppin2249 Жыл бұрын

Energy providers are making out like bandits. It’s disgusting.

@elipa3 Жыл бұрын

Well, energy prices are going down here in Germany. But of course, we dont have to pay for shareholders and CEOs.

@jimmorris5700 Жыл бұрын

All human made energy in a year is less than 1 hour of sun on earth !

@jsamg2120 10 ай бұрын

British Gas made a huge profit..

@Oxol33 Жыл бұрын

The new dogma: don't blame Brexit, and don't blame Ukraine.

@christopherrichardwadedett4100 Жыл бұрын

Oatmilk and flax eggs

@markjackson9827 Жыл бұрын

My friend has a small engineering business, hes has gone up from 16k a year to 75k, he was a Tory, hes certainly not now and I doubt he ever will be again!!

@MKiurinuRigold Жыл бұрын

Yeah demand for goods are dropping

@antoniostamndley8272 Жыл бұрын

Surely, ( depending on location), diesel generators, would be more cost effective I have 100 kW 15oo rpm unit also grid tied inverter, no batterys or pannels needed,, this costs less than £2500 per month forced to see energy will become more expensive year on year, purchased all units abroad at half the cost of Uk suppliers , euro electrician, fitted servicing is easy, like a car ,

@JohnAlvarado-th7tt Жыл бұрын

😭😭

@888ssss Жыл бұрын

i make romantic cakes and the cost of electric for the baking process has meant cut backs in romantic cake making staff.

@HenkRijn-rc3vf Жыл бұрын

I pay much more for my Breath, drinks whatever.

@iambrian769 Жыл бұрын

Embrace The Challenge 💪🙌

@galaer6625 Жыл бұрын

Do you really need sanctions against Russia? 🤣🤣🤣

@Andy-hk4wn Жыл бұрын

UK is one of the wealthiest countries in the world, so there is nothing to complain about.

@aritragupta4182 Жыл бұрын

Would rolling back some of the sanctions on Russia and forcing energy companies to cut rates help?

@aPizzaStainedSlob Жыл бұрын

the problem was already there before russia invaded, the UK is just a cursed land stuck in economic stagnation

@c9bd415 Жыл бұрын

yes but energy companies wouldnt lower their prices, they'd just take the bigger profits

@iwasntaguntilimovedouttheh3961 Жыл бұрын

@@c9bd415 In other EU Countries the Government as limited the profits energy companies are allowed to make. The Government could very easily make energy costs drop, it's all about who the Government is really representing.

@annalehman93941 Жыл бұрын

They'r blast off The North stream so you can tell they don't want cheap gas and low prices

@007thematrix007 Жыл бұрын

furst ..... not furst!

@mamatrain100 Жыл бұрын

Y'all wanted brexit.

@marcoantoniolopez-ym6be Жыл бұрын

All the world will face this situation, the big companies will win this crisis but they will change their way of selling maybe they will replace selling for rent services.

@matricci2256 Жыл бұрын

Congratulations on Brexit success 🎉🎉🎉

@Jag-leaper Жыл бұрын

4 500 thousand dollars!? Whagta useless old pile mostly unusable garbage!!!!

@maxasaurus3008 11 ай бұрын

First, that reporter Sabah Meddings, the silver highlighting in her hair is incredible: I never see that in youngish looking women, bravo! Secondly, Tesco’s loaf is a completely different product I’m sure, hard to compare but I hope things turn around. I call myself an Anglophile- I’m Cheering for you cousins! ❤

@simonlee6688 Жыл бұрын

Get a battery and solar panels. Sorry gas no longer is cheap from Russia.

@FarObserver 11 ай бұрын

STOP. THE. GREEN. NONSENSE.

@guff9567 Жыл бұрын

Why have none of our lawyers surs the government? PATHETIC

@incognitotorpedo42 Жыл бұрын

I assume you mean "sued". My question is "For what?" For Putin's illegal invasion? For Covid? The government didn't cause either of those.

@eddieyang7970 Жыл бұрын

How can small businesses contribute 99.9 of all businesses, seriously how can I trust anything else she says. Very misleading.

@OurLegacyGaming Жыл бұрын

A simple google search would find that the statement of small and medium size businesses was accurate. You're not looking at the larger context properly

@fallout560 Жыл бұрын

It's total number of businesses. McDonald's has many locations, but it's 1 business. 50 Chinese takeaways, for comparison, is 50 different businesses

@incognitotorpedo42 Жыл бұрын

It's because the definition of "small business" is actually gigantic. "Small" businesses can be worth billions of dollars and employ multiple hundreds of people. The mom & pop businesses that people think of as "small business" are barely visible. Then there's "medium" sized businesses, which are gargantuan.

@iwasntaguntilimovedouttheh3961 Жыл бұрын

It's the number of businesses, she stated the contribution to GDP afterwards it was around 50%.

@teresaalford5978 Жыл бұрын

NO ONE WEARING GLOVES!!!!!!!!!! I WOULD NOT SHOP THERE! Makes me cringe!!!!!

@ohiosbestpeach770 Жыл бұрын

Whatever you guys are doing for energy isn’t working so go back to what you used to do.

@ririgala1741 Жыл бұрын

But that's a month. Not per day or per batch or per piece. So why do you have to increase that much on price for retail?? When your per pc increase is only so little?? Because you think we can't do math?? Because you still want your profit at the same level, whatever it may cost your consumers?? Give me a break.

@SevenEllen Жыл бұрын

Yet far less customers will buy bread that costs £3.00 if they can get it for £1.25 in a supermarket.