We’ve had Thatcherism since 1979 which serves the interests of the wealthy. The problem with Thatcherism is that you eventually run out of assets like Thames Water to sell to investors so that they can rip off British consumers. Reduce inequality by taxing the asset wealth of the rich.

Its personal INCOMES that need to increase. Theres plenty of Wealth, the problem is its concentrated in the hands of too few people, the top 1%

That's it in a nutshell. Still waiting for any mainstream media presenter to ask a government minister this simple question.

Agree with you completely Richard - sadly.

Highlighting what people always suspected about MP's.

You’re absolutely spot on 🤔

Very good points. Ideas like this are not left or right. They are common sense.

Wise words, thanks

Great points

"There is no wealth but life" as John Ruskin pointed out over 160 years ago

I agree with you & when discussing "wealth" I really wish people would be more precise in the words that they are using....because "wealth" can come i many forms, not all obviously financial...i.e. a clean environment.....

As Robert Kennedy said on GDP, it measures everything "except that which makes life worthwhile". Inequality is stifling growth in wealth for the majority... Plain and simple.

They can't build more housing stock as it could/will lead to falling house prices, the real reason why both Labour and Tories have not built housing in the past, especially for the poor!

It needs addressing in the right order as well. Before your build the houses deal with the shit in the rivers and make sure that you can deal with the shit coming from the new houses so thats not going into the rivers.

Lovely!!

The problem is people are not taught in school to be greedy and ambitious they are taught to be envious, you will get nowhere with that

The wealth is in the hands of the few. Quality of life for the average person will improve if there is a fairer distribution of the wealth. Labour governments of the past tried to deliver that, but Starmer seeks donations to the party from those hoarding the wealth, rather than taxing them for the good of all.

I don’t think it's a cade that they don’t know, I just think they don’t care.

It is not about increasing wealth but about increasing wealth for whom? Labour will follow the same policies on wealth generation as the Tories; a combination of the 30 year discredited"trickle down economics"and laissez faire allowing the richest in society to continue to hide wealth abroad

Your analysis, seems correct and I agree with it. The problem is that lots of ordinary people only think we are improving if there is an increase in money, or shown to be an increase. I think Labour are putting it in those terms until there is a change in mindset of the general populace, or at least the MSM reading people.

Financial wealth gives people options and freedom

Wealth, if it means anything, should be the stock of human well-being. And any govt should be following maximin strategy so nobody gets left behind. Meritocracy/social mobility are necessary but not sufficient.

They mean to make the rich, richer, and expecting the disproven theory of trickle-down economics to work. If they want to improve things for everyone, blitz tax the wealth of the richest (they can leave the country but a lot of those assets are slow or impossible to move) and give it to the poor and middle-income people who will actually spend it and stimulate the economy.

I fear they know exactly what they are doing regarding wealth creation. They are doing what their backers, both financially and in the media, expect. Paying their dues. We shall not see an improvement in the quality of life, merely a slower erosion of the current standard.

It means preserving the power of the Club Klaus Clique...

I think they're being intentionally vague with 'wealth' so it appears it can apply to the prosperity of the working classes.

Might also help if our national wealth was spread rather more evenly.

I'm so happy I made productive decisions about my finances that changed my life forever,hoping to retire next year.. Investment should always be on any creative man's heart for success in life .

Wealth needs to be redistributed. Wealth in the UK are assets, such as land, property, equity and bonds.

Just been reading on BBC Verify, about Labours plan for 1.5 million new homes. As usual they only talk about the south of England.

All the things you rightly want cost lots of money that's going to be hard for the Labour Government to get. If you can't make, and keep a good proportion of your profits nobody is going to invest in anything

They want to do what's best for their donors and whoever they want to get cushy jobs with after politics.

Private financial wealth in the UK is £15T. Private financial wealth in the US is £150T.

It's unusual for someone with an accountancy background to understand the meaning of wealth in the economics sense rather than in financial terms. This is the difference between neoliberalism and real economics too.

I do wish the government would listen to you.

Pretty much the opposite of increasing earnings, or increasing material comfort for the majority of people. Wealth means someone is already wealthy. Increasing that wealth is irresponsible, since that's what's driven the issues we're facing.

liebour could print money lots of it it worked for Zimbabwe and made everyone multimillionaires

Well if you consider GDP or productivity, something accomplished, goods made or services rendered etc., is wealth, then before Coal as an energy source, GDP was only about 1.6 % (unless one had slaves). Wealth increased as the use of fossil fuel increased. The Elites have decided that in the West, oil production peaked in Nov 2018 and will not go above this level ever again to preserve Western reserves (and the wealth of the Elite) . UK has I think less than 2% production from our reserves of oil/gas (lots of coal though) and so financial instruments are vitally important for the UK has to obtain fossil fuels from abroad. That much is true of the ‘vicious circle’. But the whole picture is very complicated and the politicians think the public won’t comprehend our real situation. Renewables don’t have the density of usable entropy to increase overall GDP. The propaganda that they can is impossible physics. No increase in western oil production equals no more increase in western wealth. Period. So the Starmer is just parroting gov. advisers who are knowledgeable in financial matters only and so can only explain financial imperatives. So the answer to Richard’s question is yes and nob and wealth means being able to do lots of things above basic survival level.

Increase wealth? Are you sure, because it seems to me that they are saying they want to increase growth?

why are all these Americans commenting on this...telling us that they are rich enough to invest thousands of dollars with a banker ?

Wealthy people earn their money from assets Ordinary working people earn their money from working, they get paid for their time.

Labour are speaking about growth as we all know. Growth means bigger GDP and tax revenue. What would they do with this money. First on wish list is likely 2 child cap allowance and tuition fees. They are also looking for growth through housing on onshore renewable. All these objectives are desirable. Not sure if Labour are going to deliver but clearly the correct objectives. This video is just verbal gymnastics.

This is all to do with Brexit , we are currently losing around 40/50 billion pounds each year as a result of Brexit . Now given that labour doesn't want to talk about the elephant in the room the only way to make up for the lost earnings is through growth and wealth creation .

So far economic growth has meant the rich get richer and the poor get poorer but the country as a whole has more wealth within it. I hear in Bulgaria a man can raise a family and own his own house on one wage ! Just like my grandparents did ! Quite a poor country in comparison to the amount of wealth within Britain and yet we are in comparison very poor… Maybe Growing the economy is not such a great idea if you intend to own a house and raise a family?

I fear I am going to continue to listen to more of your doom mongering every day. It is a bad habit I have got into. It is so easy to carp from the sidelines, however, in order to enact policy, you have to get elected which they have done and you (and I) have not. Coming from their start point in 2019 that is some achievement and they had to make compromises to make it happen. They have been in power for less than a week. Let's see what they actually do.