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[Music]

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[Applause]

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well hi guys welcome to the wheel of

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socialism this is how Jeremy Corbyn am a

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Labour Party decide what they're gonna

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spend on what

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so shall we spin the wheel oh is it

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gonna be guys 500 billion oh I can't

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wait to see infrastructure brilliant

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labor are gonna spend five hundred

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billion on infrastructure should we do

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it again guys shall we have another go

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Oh what's it gonna be

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Oh 300 billion wow that's quite a lot of

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money guys better start writing to the

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Guardian because we're just about to

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find out what labor are gonna pledge to

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spend all that money on this week it's

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spin booyah we'll find out pensions

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Wow 200 billion on pensions Brillion oh

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my goodness me you know this really

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should leave a labor policy maker I

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think we've got a bonus number now one

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trillion so let's have a little spin a

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wheel and see if the lucky trillion

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comes up oh my god wait so 20 billion oh

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just a meager twenty billion of

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taxpayers money don't wait to see what

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its gonna be now guys oh and oh my

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goodness its water that's 200 billion

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for water Wow fantastic yeah and this is

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how we make the policy guys oh hi guys

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so I wanted to talk about Labor's crazy

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spending plans and I also briefly wanted

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to talk about capitalism versus

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socialism okay socialism in its

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strictest form is where you put the

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entire economy under the control of the

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government government will own

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everything government will control

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everything and John McDonald and to a

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lesser extent Jeremy Corbyn are pretty

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socialist actually for example most for

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utilities they believe should be run by

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the government what I wanted to talk to

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you about is some Labour's ridiculous

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spending commitments so I was just gonna

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go through a few of the headlines my

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stress verses and all of them this isn't

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an exhaustive list okay for a start for

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a sixty six point four million people in

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the UK according to Google right the

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people are largely in control of the

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economy and you may not believe me but

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very really our most adults in UK can

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vote everyone including kids can decide

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what they want to buy okay and that's an

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incredibly powerful force for telling

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companies what kind of products we want

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okay so I'll give you an example right

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let's say you're a company that sells

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skin cream okay you will basically

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produce what kind of product for people

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want so for example you might produce a

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product that isn't tested on animals or

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you might produce a product that's

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environmentally friendly or you know

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you'll produce basically what would

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people want because that's how you

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survive this company okay

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the problem with state-owned businesses

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is if they don't provide what the people

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want well it doesn't really matter

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because for governments backing them you

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know they're literally too big to fail

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because if they bail we're we're gonna

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cause massive amounts of problems to the

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government again so actually having

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companies owned by individuals okay yeah

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the rich individuals who put the money

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in initially I'm probably gonna get a

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good return on their money I think

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that's one of the problems for

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socialists have is they think all the

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profits are all going away now look if

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private individuals want to risk their

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money in a particular business venture

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that's great as far as I'm concerned all

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power to them but if the government

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wants to risk taxpayers money backing

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certain companies well that's not great

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I mean if the company fails fenneis

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gonna be a taxpayer who loses out altom

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utley the government doesn't really have

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a good track record of choosing

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successful companies I mean heck if

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every if you knew which companies were

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gonna be successful ahead of time then

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you wouldn't ever need the government

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because you could just see mess money in

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that particular venture knowing for you

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it's gonna pay off now we're government

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should invest money is in things like

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research and development and technology

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and well emerging technologies one of

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the big things I really want to see

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government investing in is well extra

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money should go into developing fusion

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and alternative energy technologies

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because fusion if it actually works has

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potential to provide massive amounts of

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really cheap energy to everyone okay

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apparently someone worked health

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trillion dollars went into V development

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of mobile phones so trillion dollars is

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quite a lot of money but nowhere near

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that amount of money is being put into

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energy research and development over the

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years so I like to see more money going

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into actual technologies which would

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benefit the public a good thing about

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profits is they are a sign for the

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company it's healthy for the company is

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actually operating well and you know the

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company is basically adding value to

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people's lives and that people are

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willing to pay for so every single time

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you tax someone you take money away from

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them

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the government doesn't actually have any

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money okay the government takes its

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money from us in the form of Taxation

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and the government can also raise money

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through bonds and borrowing but

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ultimately it's us who are gonna have to

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pay back that borrowing okay so bear in

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mind this isn't the government's money

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like they don't own it it's our money

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and the government are spending it on

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our behalf and the bigger the government

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is and the more money they spend

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that's for less money that can be used

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for companies to grow for us for people

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to buy houses for people to buy the

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things that we want to buy okay so every

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single penny that's raised in tax is a

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sacrifice let's have a look at some of

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labor's spending commitments jeremy

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corbyn's really nationalization plan to

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cost you and i watering 169 billion okay

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so essentially jeremy corbyn wants to

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read nationalize utilities water and

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electricity that sort of thing you know

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most people know about this but that's

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quite a lot of money still so what's

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gonna effectively happen is labor are

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gonna borrow money and they're gonna

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raise taxes and don't be fooled

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you can't just raise taxes on rich you

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could say well for rich have loads of

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money why don't they just pay over my

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over tax or whatever the problem is a

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lot of rich people are extremely mobile

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okay if they can work in any country in

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the world okay B most countries if a

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billionaire or a millionaire says hey

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look I want to come to your country and

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I

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you know pay massive amounts of tax the

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country is hardly likely to say no we

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don't want your billions here anyway if

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you're hypermobile

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and if Jeremy Corbyn puts too much tax

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on rich people they're gonna go abroad I

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mean the City of London's already facing

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massive competition from Berlin from

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Asia so a lot of Chinese cities Hong

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Kong and you know the whole world is

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actually doing very very well so again

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like I say if for tax rate art is too

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high in the UK they will just go abroad

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and I know there's always that threat if

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Texas new high will just leave they

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actually do look at America America and

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Trump have been lowering the corporation

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tax okay the American economy has been

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booming recently you know it's been

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doing really really well and you could

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argue okay maybe for money doesn't

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trickle down but nevertheless when

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companies grow they create a lot more

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jobs and also if there's a demand for

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jobs they might actually raises wages

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okay so actually having a lower tax rate

0:07:48.790,0:07:53.080
it's really good because it can help

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companies grow it can help companies

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become more profitable it can help

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companies raise more money generally

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speaking I quite like it if we had a

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sensible tax policy jeremy corbyn's one

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trillion spending spree warning label

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will bankrupt Britain ok so I guess for

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looking at everything here mrs. V

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Express okay I know people have

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different views on what newspapers are

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trustworthy you can't please everyone so

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nevertheless it does sort of seem like

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overall spending it's gonna be about a

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trillion extra which is a heck of a lot

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of money I mean the GDP for countries

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honey two point something trillion have

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a little okay yeah two point six

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trillion a year Jeremy Corbyn has

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committed to spending a trillion extra

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on stuff it's gonna be the taxpayers who

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actually have to pay for that and that's

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gonna mean massive taxes across the

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board and a lot of its money is just

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gonna be wasted I mean he's some kind of

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pledging to spend loads and loads of

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money on things which okay they might be

0:08:49.090,0:08:54.340
nice like I say every single penny spent

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in tax is a penny for I don't get to

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spend all the things I want okay um

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Jeremy Corbyn big brain Corbin is gonna

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tell me what I want

0:09:01.660,0:09:05.080
and he's gonna take my money and he's

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gonna spend my money on the things he

0:09:05.080,0:09:09.610
thinks I want well you know what I can

0:09:07.090,0:09:11.170
spend my money better than Jeremy hobby

0:09:09.610,0:09:13.360
can and I'm not saying that everything

0:09:11.170,0:09:15.670
he's gonna spend money on is bad but I

0:09:13.360,0:09:19.540
just I don't know he just seems to be

0:09:15.670,0:09:21.820
making promises all all the time so

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scrapping the benefits car cap which

0:09:21.820,0:09:26.590
will stop claimants receiving more than

0:09:24.370,0:09:28.930
an average worker earning earn today

0:09:26.590,0:09:30.700
year along with other welfare reforms

0:09:28.930,0:09:33.670
would cost twenty seven billion

0:09:30.700,0:09:35.080
state-owned investment bank would come

0:09:33.670,0:09:38.770
in at five hundred billion

0:09:35.080,0:09:41.440
public backed wind farms seventy nine

0:09:38.770,0:09:43.960
billion a surge in solar panels would

0:09:41.440,0:09:45.960
cost 11 billion scrapping tuition fees

0:09:43.960,0:09:48.580
would cost a hundred and forty billion

0:09:45.960,0:09:50.950
the conservative said so yeah this is

0:09:48.580,0:09:52.390
for conservatives basically saying for

0:09:50.950,0:09:53.860
his spending is completely out of

0:09:52.390,0:09:55.090
control they've kind of got an agenda

0:09:53.860,0:09:57.670
they want to win my next general

0:09:55.090,0:09:58.630
election and Jeremy Corbyn but you know

0:09:57.670,0:10:00.940
it gets worse

0:09:58.630,0:10:03.130
look first it was Boris bikes now it's

0:10:00.940,0:10:04.930
jeremy corbyn's cars and he wants to get

0:10:03.130,0:10:08.790
thirty thousand electric cars for hire

0:10:04.930,0:10:12.070
in the UK so again what a crazy policy

0:10:08.790,0:10:14.770
for already electric taxi companies in

0:10:12.070,0:10:16.540
the UK so obviously jeremy corbyn's

0:10:14.770,0:10:19.600
electric cars are going to be competing

0:10:16.540,0:10:21.610
against pre-existing companies now

0:10:19.600,0:10:24.130
personally what i would do is i would

0:10:21.610,0:10:25.900
reduce for tax rate and i would say to

0:10:24.130,0:10:28.780
the electric car companies for already

0:10:25.900,0:10:30.820
existed me UK hey look now you gonna

0:10:28.780,0:10:32.650
make more profit now you can attract

0:10:30.820,0:10:34.390
more investment now you can actually put

0:10:32.650,0:10:37.960
more money back into growing your

0:10:34.390,0:10:40.360
business and that'd be great but instead

0:10:37.960,0:10:43.690
Jeremy Corbyn has decided in his

0:10:40.360,0:10:45.640
infinite wisdom that he needs to buy all

0:10:43.690,0:10:47.980
these electric cars for hire just for

0:10:45.640,0:10:50.050
spending John McDonald says labour would

0:10:47.980,0:10:53.500
find an extra 17 billion for public

0:10:50.050,0:10:55.420
services very nice um an extra 17

0:10:53.500,0:10:57.520
billion fee NHS social care schools

0:10:55.420,0:11:01.000
local government according to the Shadow

0:10:57.520,0:11:03.340
Chancellor great 17 billion extra let's

0:11:01.000,0:11:05.830
just add it to the list labour pledges

0:11:03.340,0:11:08.320
billions for Home Energy upgrades oh

0:11:05.830,0:11:10.270
look another sixty billion for

0:11:08.320,0:11:13.330
energy-saving upgrades to low-income

0:11:10.270,0:11:15.520
houses over the next decade right labour

0:11:13.330,0:11:18.310
says this proposal will create four

0:11:15.520,0:11:19.900
and 50,000 jobs involved in the

0:11:18.310,0:11:21.730
installation of the energy-saving

0:11:19.900,0:11:24.280
measures is this gonna be great for the

0:11:21.730,0:11:26.950
environment look for plan rolls over the

0:11:24.280,0:11:29.320
next decade spending 250 billion to fit

0:11:26.950,0:11:31.090
every UK home with double glazing and

0:11:29.320,0:11:34.000
loft insulation heat pumps and solar

0:11:31.090,0:11:35.710
panels labor pledges to spend six

0:11:34.000,0:11:38.260
billions make Social Care free for

0:11:35.710,0:11:39.700
everyone Wow that's only six billion

0:11:38.260,0:11:43.720
that's great

0:11:39.700,0:11:46.300
Oh labor debt plan under John under John

0:11:43.720,0:11:49.030
McDonald would cost 270 billion in

0:11:46.300,0:11:49.480
interest well that doesn't matter does

0:11:49.030,0:11:51.400
it

0:11:49.480,0:11:52.690
we could just you know borrow two

0:11:51.400,0:11:54.340
hundred seventy billion to pay the

0:11:52.690,0:11:56.140
interest that'd be great

0:11:54.340,0:11:58.900
oh look at this one this one's free

0:11:56.140,0:12:01.900
years old now Jeremy Corbyn pledged 500

0:11:58.900,0:12:03.700
billion of spending in leadership speech

0:12:01.900,0:12:05.410
what is he gonna spend this 500 billion

0:12:03.700,0:12:08.230
on all been pledges are expected to

0:12:05.410,0:12:10.000
include bringing out full employment job

0:12:08.230,0:12:12.790
security through stronger employment

0:12:10.000,0:12:16.120
rights and an NHS free from any private

0:12:12.790,0:12:18.430
sector influence okay great so right now

0:12:16.120,0:12:20.200
you may not know a lot of EMHS operates

0:12:18.430,0:12:21.790
for private companies now private

0:12:20.200,0:12:24.040
companies will supply the NHS with

0:12:21.790,0:12:25.960
services or you know if it might do

0:12:24.040,0:12:27.490
operations it kind of works fairly well

0:12:25.960,0:12:30.160
it's still free for the general public

0:12:27.490,0:12:31.890
to use but look he's gonna spend 500

0:12:30.160,0:12:34.290
billion in infrastructure in

0:12:31.890,0:12:36.610
manufacturing and new industries

0:12:34.290,0:12:38.920
supported by publicly owned national

0:12:36.610,0:12:40.360
investment bank oh yeah we've barely got

0:12:38.920,0:12:42.610
under the public national investment

0:12:40.360,0:12:45.460
bank so instead of making the UK a

0:12:42.610,0:12:47.560
competitive country but people want to

0:12:45.460,0:12:49.300
invest in the state's gonna make it

0:12:47.560,0:12:51.670
uncompetitive and then they're going to

0:12:49.300,0:12:53.440
introduce a national investment bank why

0:12:51.670,0:12:56.110
don't you actually make the UK

0:12:53.440,0:12:58.930
competitive tax wise with America and

0:12:56.110,0:13:00.490
other countries okay now I know a lot of

0:12:58.930,0:13:02.350
people are gonna say well look if we

0:13:00.490,0:13:04.810
reduce taxes then that means it's gonna

0:13:02.350,0:13:07.450
be less money available for the NHS etc

0:13:04.810,0:13:09.610
actually no a lot of the time when you

0:13:07.450,0:13:12.430
reduce taxes it kind of means but more

0:13:09.610,0:13:14.290
taxes paid overall it means that the

0:13:12.430,0:13:16.030
economy is going to grow faster it means

0:13:14.290,0:13:17.950
but more jobs gonna be created because

0:13:16.030,0:13:20.920
the economy's growing generally speaking

0:13:17.950,0:13:22.720
it's it's great all round anyway that's

0:13:20.920,0:13:24.700
just a snapshot of some of a spending

0:13:22.720,0:13:26.500
that labor are apparently gonna do

0:13:24.700,0:13:28.930
honestly I doubt they're gonna actually

0:13:26.500,0:13:31.180
stick to most of you some spending plan

0:13:28.930,0:13:33.940
I think Jeremy Corbyn will say anything

0:13:31.180,0:13:35.890
to win votes and okay that's kind of

0:13:33.940,0:13:38.140
true of most politicians right penny

0:13:35.890,0:13:39.250
wait this has been a bit if Iran and I I

0:13:38.140,0:13:41.830
just wanted to get it off my chest

0:13:39.250,0:13:44.410
because I I'm just annoyed right because

0:13:41.830,0:13:46.990
every day I go on Facebook and I'm on

0:13:44.410,0:13:50.350
quite a few Pro Jeremy Corbyn groups

0:13:46.990,0:13:52.240
okay and I actually quite like labor I

0:13:50.350,0:13:54.730
think that he did a reasonable job but

0:13:52.240,0:13:56.770
me were new labor honestly I really

0:13:54.730,0:13:58.870
worry about I'll be spending commitments

0:13:56.770,0:14:00.580
and okay maybe they're not commitments

0:13:58.870,0:14:02.589
maybe they're just making him up on the

0:14:00.580,0:14:05.290
spot like I said initially coming back

0:14:02.589,0:14:07.660
to my initial point when you spend more

0:14:05.290,0:14:09.940
on the government so in taxes are higher

0:14:07.660,0:14:11.940
that means growth in the economy is

0:14:09.940,0:14:14.500
lower that means fewer jobs are created

0:14:11.940,0:14:16.839
fewer fewer people are going to invest

0:14:14.500,0:14:18.760
in the economy generally speaking it

0:14:16.839,0:14:21.010
slows everything down and the smaller

0:14:18.760,0:14:22.930
the state is when tax rates are

0:14:21.010,0:14:26.620
competitive you see fantastic growth

0:14:22.930,0:14:28.750
rates hey guys just wanted to give you a

0:14:26.620,0:14:31.330
massive thank you for watching if you

0:14:28.750,0:14:33.130
like the video please subscribe give

0:14:31.330,0:14:35.500
this a thumbs up if you didn't like it

0:14:33.130,0:14:38.470
give me a thumbs down it's up to you

0:14:35.500,0:14:40.540
entirely but yeah please let me know in

0:14:38.470,0:14:43.380
the comments what you thought and thank

0:14:40.540,0:14:43.380
you very much for watching