Comments by "Greg Greg" (@SlowhandGreg) on "Richard J Murphy" channel.

cut taxes If you cut taxes potholes get filled in as all the trickle down runs into them
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@BlyatimirPootin it's miles better than a Tory one but it still stinks of soggy centerism If you put a tax on employer's ni it will affect growth, so if it suppresses growth by 1 % which its expected to do in some economic circles your loosing 10 billion in future tax revenues and also the loss in subsequent years. There were lots of ways to get 10-20 billion out of the system including hiring more hmrc staff to collect the 42 billion in owed but uncollected tax in 2023 or stop paying interest to the 425 billion on deposit with the banks at the boe which we printed in the 1st place during the banking crisis. Our problem is rich people not paying tax
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@markwelch3564 We have 50 years of data showing trickle down doesn't work and also 50 years of data showing that tax cuts don't pay for themselves in generating enough additional GDP to cover the Revenue shortfall
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Reeve's budget reminds me of all the reasons I hated Gordon Brown Chips away at all sorts but doesn't address the fundemental inequality in the tax system Not that I would vote Tory but its a missed opertunity to set a new and bolder course at least we have Milliband driving a renewable agenda
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You invest and improve productivity
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You pay the national grid price set by the regulator. I have a solar battery system due to the abundance of renewable s with just batteries you should be able to save the capital cost in under 5 years. Wind is always on and it costs to turn the turbines off so in England we can get as cheap a rate as 7p down from 24p for overnight use. A 10kwh system should cost around 3k my annual energy bill used to be 2.5k
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@keithparker1346 The issue isn't you should pay tax on it the problem is the amount of insane property inflation caused by a policy which has pumped around 200 billion into the economy over it's lifetime and created high rents scarcity of supply as well as asset stripping councils who if they had a property portfolio wouldn't be shelling out 20 billion in housing support but would have an income from it.
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We are sat on one of the best places in the world for offshore wind The North Sea has multiple shallow shelves and is the confluence of multiple weather systems As a domestic Octopus customer I'm already benefiting from ultra cheap off peak always on energy, Dogger bank has been ramping up and there are plans to expand off teesside
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@oneoflokis Currently renewable energy is the cheapest on the grid, our old grid is geared around coal power stations and we don't have the mass storage to time shift the large amounts of always on power that it generates. The cost of nuclear has also gone through the roof. The grid currently pays wind farms to turn off yet uses GAS standby generation at peak demand time's at a staggering cost to the overall energy price.
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@marumaru6084 It goes up because of the price of GAS if we had a net zero grid then you wouldn't get the price changes due to enough mass storage on the system to use and store all the always on power
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@skyblazeeterno 40 billion or why raise it in the 1st place
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To change that you put mass storage on strategic grid nodes. One such site was recently rejected by the council near me because it was deemed not necessary infrastructure and on green belt after 6 years in planning. The mass storage units are delivered in containers pre loaded you just hook them up and voila, insane really Each node would repay it's capital cost in under a year and stop us from using standby gas plant
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we will see, one of the new MP's is Torsten Bell ex resolution Foundation is currently a Cabinet Secretary I'm unsure on Reeve her everyday economy stuff is an anathema to NeoLiberlism but the stuff she has come out with since taking office have been weird and don't fill you with much confidence. Still real economists in government is at least a start
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The growth for this quarter is influenced by the last 2 budgets A couple of things both help and hinder Help Public sector pay increases Planned housing, infrastructure and nhs Hinder Reeve's stupid NI hike, a classic Brown budget What matters most isnt gdp but gdp per capita
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He's effing crazy also Congress has to approve military action of that scale You also may find that within months he gets impeached as being unfit for office So Why is everyone SANE WASHING this guy
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@Bristolcentaurus Labour are in the process of improving productivity with its NHS review and investment in renewable energy
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Richard your not a Politician, stick to economics seriously I listen to you a lot Aside from dealing with the backlog the services provided by the NHS will have to be insourced Outsorcing doesn't save money it doesn't improve the service and you loose control of quality which nosedives adding additional cost. Streeting has a political problem on how to get waiting lists down quickly so productivity increases and Labour get reelected in 5 years.
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@maria8809ttt If only Keynes was around today. A lot of current capital and market activity is locked up in FIRE (Finance, Insurance, Real Estate. Post 2008 crash we've seen a huge tax cut for corporations both in the US and UK, it's estimated that the Fortune 500 companies alone spent 3.5 trillion on stock buy backs. We also have the growth in multi national cartels (Oligopolies) especially in Fossil Fuel, Shipping and Wheat. So how much of the old theories still hold is moot.
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Corbyn was a waste of space I've been visiting my brother in Norway, every corporation in Norway has to be incorporated in Norway and pay Norwegian tax no offshoring, plus no zero hour and they control migration.
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@waltermcphee3787 you sign up to certain Octopus tariffs which guarantee price Or you can have an active tariff Cheapest is if you have an EV or batteries
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@billB101 Batteries They come preloaded with software in containers you just plug and go. And don't say but cost because you have no idea of the insane marginal cost of gas on a cold day in winter running a full sized GAS power plant in spin just for a few minutes or hours during peak load between 4-7pm. It drives the wholesale price through the roof
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@billB101 To power my home for a day it cost me £3,000 for battery storage. 3 years ago that would have been £7,000 I don't think you realise how much the costs have come down. Battery prices have halved in the last 18 months and there expected to half again in the next 2 years as well as competing technologies coming on stream such as liquid air batteries and liquid metal batteries.
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The BOE uses interest rate hikes to cool consumer spending creating unemployment which tightens the Labour market We already have a contracted Labour market so the BOE interest rate hikes do nothing bar chill growth and put some businesses into bankruptcy because the current squeeze on consumption is with energy and food which are essential commodities and are controlled by external entities. It doesn't matter how hard the BOE squeezes if people need to heat their homes and eat food to live that consumption will to a certain extent still happen.hence sticky inflation. Any government should look inwards on energy and food production as a strategic resource.
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@billB101 yea because who wants to listen to experts, the same experts that said migration would go up if we removed fom and said our economy would go down the toilet if we left the single market
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I have a degree in Economics but being able to read is the only requirement and he's not in charge of it anyway its the Bank of England
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Look selling off around 1 trillion of your assets and leasing it back is a fk stupid idea you need to factor in between 3-5% profit on 1 trillion that's a 50 billion loss to the public purse from a fixed asset we used to own same goes for water and council houses as a country if we still owned those assets we would be 80+ billion better off, Thatcherism the long tail
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@NoMoreVoxPops last year battery prices fell by 20% There expected to fall by the same this year Our Grid is sized to cope with a 4-7pm peak with energy usage having what's called a duck curve The more wind you put on the system the more always on off peak capacity you have my supplier offers a 70% discount rate for overnight EV charging And A premium Feed in rate if I allow them to remotely manage my battery storage from 4-7pm Cost wise Hinkley C will end up with a price tag of 80 billion with ongoing subsidies, Dogger bank wind farm produces the same electricity for 11 billion and it would only cost 30 billion to change from on demand gas generation to mass storage for peak flow grid smoothing.
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I would just like to say that Battery storage as part of a SOLAR install are now ZERO rated for VAT I have a few months ago availed myself of this tax break Originally when I sized and costed this system 3 years ago the capital payback was 15 years The actual savings for me are £1,300+ a year, we have an electric oven as well as induction hob, then the laundry, I also had a diverter fitted so that when we have excess solar which is every morning it heats a tank of water saving on GAS.. The system because of the drop in battery prices and zero rating + the ability to time shift usage and also get very low rates overnight will pay back in under 6 years. I also costed savings with an EV For me a second hand 2022 would cost around 14-16k and I would save 2k a year on petrol If you have savings like I had it is a good investment with phenomenal payback and your also helping to stabalise the grid and long term prices due to time shifting usage from the peak load period of 4-7pm
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@NigelHeath-gi7xg It's a pretty blunt instrument non of the current fiscal tightening has had any effect on inflation which has been caused primarily by a combination of energy inflation and greedflation by multi nationals profiteering on global instability
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@NigelHeath-gi7xg The way to deal with some of it is to claw back a large portion of the 700 billion government spend from where it has trickled up to. Also apply sweeping windfall taxes. This is from the FT governments know where it's gone As the virus spread, central banks injected $9tn into economies worldwide, aiming to keep the world economy afloat. Much of that stimulus has gone into financial markets, and from there into the net worth of the ultra-rich. The total wealth of billionaires worldwide rose by $5tn to $13tn in 12 months
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Untrue, but I don't think she will last the course Her Gordon Brown style budget went down like a lead balloon
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He has ADHD and has been on Aderol most of his life. He's also dyslexic and very stup1d He also surrounds himself with stup1d people. His one superpower the greatest con man the world has seen
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@keithparker1346 One of the reasons we have high immigration is the pull factor of wage suppression in the public sector. The government shrugs it's shoulders and just recruits from the 3rd world as well as allowing outsourcing. If they don't deal with it Farage will continue with his foghorn of ignorance. Streeting is doing well on the rounds, not that I agree with what he is saying. I've worked in 2 companies that have outsourced service functions it has reduced my productivity quite significantly.
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BOE owns 25% of all UK debt Banks also have to deposit a % of their funds
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@waltermcphee3787 Our peak load is supplied by ON Standby GAS. All prices are connected to the last mile price
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@davzer3773 Why do you keep changing the goalposts and we don't need batteries for a month just between 4-7pm Also they don't have to be lithium, there's a liquid air battery over in Manchester a sand Battery in Finland and also liquid metal ones in the states. + Pumped hydro is a glorified battery as well
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We can grow through productivity Since 2010 our productivity has fallen, there is no reason why that cant be reversed with technology and investment. Our transport system is clogged and out of date Our healthcare is not up to standard Our energy grid is inefficient as is our water system You can also get more disposable income, for the past 3 years, I've been improving insulation and investing in renewables, lowering my outlay on energy by 90%
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The NHS and doctors practices + other healthcare services have a major integration problem If you could communicate effectively between all services you could improve efficiency by mmm pick a number id say at least 50%. My mother in law has dementia and the amount of time we waste going around the system, which doesn't talk to each other is staggering
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@keithparker1346 Full employment is regarded by economists as < 4% After accounting for the disabled, those on special needs then the unemployable your left with a small % who are in the wrong place, don't have the skills or are just too old to do a physical job
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@billB101 On who's say so? I have domestic storage for my solar of around 1 day of usage. You need more people like me with domestic batteries then battery storage at strategic grid nodes. Wind and nuclear are always on and you have plenty of spare off peak energy. Put a mass storage solution onto the grid costing 30 billion save 30 billion's 1st year of operation
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@billB101 Not so you need to understand the way the grid works. The usage is described as a Duck Curve The peak of that Curve is 4-7pm. Our grid is sized to meet peak demand, what you need to do is time shift peak demand. You do that by a number of methods The government has zero rated batteries as part of a solar install. My Provider offer a discount if I use off peak so I no longer use the grid between 4-7pm. As well as offering people cheaper energy if they use their smart appliances overnight. basically you flatten and fatten the duck curve.
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