Why No One Wants to Live in the UK

Summary

The video exposes the contrasting realities of living in the UK, highlighting London's wealth against a backdrop of rising homelessness and stagnant wages. It delves into the reasons behind a mass exodus from the UK, focusing on decreasing living standards, a housing crisis, and a failing healthcare system. Despite a thriving education sector attracting immigrants, the outflow of skilled workers is contributing to an economy laden with low-skilled labor, lower productivity, and deteriorating public services.

Highlights

• London's wealth masks a deepening crisis of homelessness. 🌆🏡
• Real wages in the UK have stagnated since 2008, affecting living standards. 📉💼
• A growing number of Britons are seeking better opportunities abroad. ✈️🌍
• The NHS's financial strain is exacerbated by rising costs and an aging population. 🏥💰
• The housing market imbalance is a legacy of past policies and slow construction. 🏚️🏗️

Key Takeaways

• The UK's housing crisis and stagnant wages are major factors driving young talent away. 🏘️📉
• Homelessness in London has surged, reaching the highest levels in the developed world. 🏚️
• More skilled workers are leaving the UK than are entering, impacting productivity. 👷‍♂️🔄
• The NHS is struggling despite increased funding, with long wait times and aging infrastructure. 🏥⏳
• The long-term economic underinvestment has caught up with the UK, slowing growth. 📉🔧

Overview

The video paints a vivid picture of the UK's current economic and social challenges, with a particular focus on how London's apparent prosperity hides significant societal issues. These include soaring homelessness rates and stagnating wages that have not kept up with inflation, creating a difficult living environment for many.

A major theme discussed is the outflow of young, skilled professionals from the UK, driven by poor living standards and more attractive opportunities abroad. This is juxtaposed with the irony of increasing immigration into the UK, primarily for its educational services, which does not offset the talent leaving the country.

Furthermore, the video examines systemic issues such as the housing crisis and the beleaguered National Health Service. Despite increased funding, these sectors are struggling due to long-term underinvestment and current economic pressures, underscoring a pattern of neglect that has burdened public services and infrastructure.

Chapters

• 00:00 - 00:30: Introduction to London's Economy The chapter 'Introduction to London's Economy' provides an overview of London as a major economic hub. It highlights London's status as the capital city of the United Kingdom and one of the wealthiest cities globally, with an economy valued at over half a trillion dollars. If London were a country, its economy would rank as the 26th largest in the world, on par with that of Norway. For nearly 200 years, London has been a center for high-value services, especially in finance, offering some of the highest wages in Britain and Europe. Despite its display of vast wealth, London's economy presents a contrasting picture in 2023.
• 00:30 - 01:00: Homelessness and Wage Stagnation This chapter discusses the severe issue of homelessness in a city, where more than 1 in 50 people are homeless, marking an over 50% increase in the last decade, leading to the highest homelessness rate in the developed world. Simultaneously, it highlights wage stagnation, noting that real wages have remained unchanged for over 15 years, effectively equating current pay to that of 2008.
• 01:00 - 02:00: Exodus of Skilled Workers The chapter titled 'Exodus of Skilled Workers' discusses the increasing trend of young skilled workers leaving the UK due to rising costs of goods and services, especially housing. With the opportunity to earn significantly more in places like New York, coupled with relatively reasonable cost of living differences, many are opting to find better opportunities abroad. The chapter highlights the impact on sectors like the National Health Service, which is particularly affected by this migration.
• 02:00 - 02:30: Effects of Migration on Skill Levels The chapter discusses the potential emigration of doctors and nurses from the UK owing to low pay, overwork, and worsening working conditions. This trend is symbolically reflective of the broader status of the British economy. Paradoxically, the UK sees an increasing number of individuals immigrating annually from abroad, primarily attracted by the country's top-tier education services. Research from 2015 highlighted that individuals leaving the UK tend to have higher skill levels than the general population.
• 02:30 - 03:30: Decreasing Living Standards and Economic Challenges The chapter discusses the economic challenges and decreasing living standards in Britain due to a significant rise in net migration over the past decade. This increase has resulted in a larger pool of low-skilled workers, which offsets the skilled workforce. The influx leads to lower productivity and a deterioration in the quality of goods and services offered in the economy. The chapter explores why a seemingly wealthy nation like Britain is experiencing a mass exodus of its young and talented individuals, which is a cause for concern.
• 03:30 - 04:30: Comparing Living Standards Across Europe This chapter discusses the declining living standards in the UK, highlighting that the situation is worsening annually. It points out that this decline in living standards is a primary reason for British citizens leaving the country. A significant statistic is mentioned: removing London's output and population would decrease British living standards by 14%, making the rest of the UK economically poorer than Mississippi, the lowest-ranking US state in terms of per capita economic performance. The chapter suggests that the UK's most prosperous era seems to be over, indicating a broader theme of economic decline.
• 04:30 - 05:00: Public Services Decline Amid Rising Immigration The chapter titled 'Public Services Decline Amid Rising Immigration' discusses the economic disparity that has developed over 15 years in the UK. The transcript highlights that in 2007, UK households were only 8% worse off compared to their Northwestern European counterparts. However, this gap has widened to 20% in recent years. Current trends suggest that households in Slovenia and Poland will surpass the UK's in terms of average wealth by 2024 and by the end of the decade, respectively. This economic stagnation is particularly impacting those with lower incomes.
• 05:00 - 06:00: Sponsor Segment: Data Security In this chapter titled 'Sponsor Segment: Data Security', the discussion focuses on the living standards in the UK, highlighting how they compare internationally. It is noted that the UK's top earners rank fifth in terms of living standards, the average household ranks 12th, and the poorest 5% rank 15th. The living standard of the lowest earning British households has notably fallen behind their counterparts in Slovenia, standing at 20% weaker. The chapter suggests that as more people migrate to the UK, there is an observable decline in the levels of public services and a reduction in the pool of skilled workers.
• 06:00 - 07:00: British Life in the 1990s The chapter 'British Life in the 1990s' explores the reasons behind a phenomenon occurring in one of the world's wealthiest countries, the United Kingdom. It begins to delve into why there is a sudden trend of people wanting to leave the UK. The transcript hints at issues related to data privacy, highlighting how internet use can lead to personal data being collected and sold globally by data brokers. This raises concerns about privacy and personal information security in the modern digital age.
• 07:00 - 08:00: Economic Resilience in the 1990s The chapter focuses on the issue of data privacy and the risks associated with data sharing among organizations in the 1990s. It highlights the ease with which personal information, such as addresses, phone numbers, and employment details, could be accessed through specific websites, raising concerns about data theft and its potential misuse. The narrative discusses the personal challenges and hassles involved in recovering from data theft, emphasizing the need for vigilance and better data protection measures. It reflects on promises made by services not to misuse information for activities like harassment, but notes the lack of strong protections against such risks. Overall, the chapter underscores the importance of understanding data privacy and taking preventive actions to safeguard personal information in an era of increasing digital exposure.
• 08:00 - 09:00: Shift to Service-Based Employment The chapter discusses the transition to service-based employment, highlighting a specific service called Incog that helps individuals maintain privacy by removing personal data from online data brokers. The process is automated; users need only to create an account and authorize the service to act on their behalf.
• 09:00 - 10:00: Financial Crisis and Its Effects The chapter, titled 'Financial Crisis and Its Effects', begins by highlighting a promotional offer at checkout for a significant discount on an annual plan and directs attention to a link in the description. Following this, the chapter transitions into a commentary on Britain's past prosperity as a prime destination for young and skilled individuals. It references a recent poll indicating widespread sentiment that life in Britain was perceived to be better during the 1990s and 2000s compared to today. There is a noted sense of nostalgia among British people for this period, associating it with both economic and cultural vibrancy, including music.
• 10:00 - 11:30: Housing Crisis: Supply and Demand Imbalance The chapter discusses the housing crisis caused by an imbalance between supply and demand, contextualized within the larger economic and cultural climate of the 1990s. The era, marked by global optimism at the end of the Cold War and cultural phenomena like the rise of Britannia, brought international success to bands like Oasis and the Spice Girls. Despite beginning with economic challenges due to the ERM fallout and a recession, the 1990s became a period of economic success for Great Britain. The chapter likely draws parallels between these historical events and the ongoing housing supply issues.
• 11:30 - 12:30: Historical Housing Policies The chapter titled 'Historical Housing Policies' discusses the economic transformation of the UK starting from 1992. It highlights how Britain entered a phase of prolonged economic resilience, marked by the longest period of uninterrupted growth since World War II. This era, known as the 'long expansion,' was driven by various factors, including structural reforms, effective monetary policies, and favorable global conditions. Significant points include continuous GDP growth and notable improvements in productivity. The financial sector's pivotal role in propelling this growth is also emphasized.
• 12:30 - 13:30: Current Housing Challenges The chapter 'Current Housing Challenges' explores the economic success driven by substantial credit expansion in property lending, which boosted consumer spending and investment. Regulatory changes enhanced the UK's appeal for investment, maintaining a positive net income balance from abroad. Despite these advancements, the UK economy's shift towards a service-based employment model is discussed, highlighting the resulting job losses in traditional industrial sectors like heavy industry and mining.
• 13:30 - 14:30: Youth and Economic Disparities The chapter 'Youth and Economic Disparities' examines how jobs in poorer areas of the UK, particularly those located away from major cities like London, were affected during the early 2000s. Despite economic growth, underlying problems began to surface, culminating in the 2008 financial crisis. This crisis exposed Britain's overreliance on the financial services sector and highlighted a lack of investment in other critical areas of the economy.
• 14:30 - 16:00: Stagnant Wages and Productivity Issues The chapter titled 'Stagnant Wages and Productivity Issues' focuses on several pressing national issues in the UK, including an overstretched NHS, a housing affordability crisis, and aging infrastructure. These issues are results of past policies and need urgent solutions to ensure a sustainable future. It further highlights housing as the most critical concern, emphasizing the lack of sufficient homes and the unaffordability of existing housing for most of the population.
• 16:00 - 18:00: NHS Challenges and Productivity The chapter discusses the challenges faced by first-time home buyers in the UK, emphasizing the difficulty of purchasing a home without significant financial aid or a substantially above-average income. It highlights the issue of the UK's persistent shortfall in homebuilding relative to population needs, noting this is exacerbated by restrictive planning laws, insufficient government funding for public housing, and a tendency to prioritize other economic sectors over residential construction.
• 18:00 - 19:00: Cost of Healthcare and NHS Funding The chapter discusses the impact of historical policies, particularly the 'right to buy' scheme introduced in the late 1970s, on the current housing market. This scheme allowed public housing tenants to purchase their homes at a discount, making home ownership accessible. However, while it achieved its aim of enabling ownership for many, it also led to a significant supply-demand imbalance in the housing market due to insufficient building of new homes. This has contributed to the present-day issues faced in housing availability and affordability.
• 19:00 - 20:30: Infrastructure Underinvestment The chapter discusses the issue of infrastructure underinvestment, focusing on the reduction in social housing stock since the 1970s. Despite a growing population, there has been a 25% decrease in social housing availability as these homes were not replaced sufficiently. As a result, more people are turning to the private rental sector, leading to increased demand and rising rental costs. This highlights the challenges in housing affordability due to inadequate supply.
• 20:30 - 21:30: Brexit and Economic Decline The chapter discusses the economic impact of Brexit, focusing on how rising rental costs have disproportionately affected lower-income individuals. It highlights the lack of affordable housing options and the competition among those who need such housing. The summary points out that house prices have been outpacing real wages for over three decades, exacerbating the societal divide between homeowners and non-homeowners. Furthermore, it notes that housing supply is a significant issue, not just in the context of Brexit, but across various Western European economies.
• 21:30 - 22:30: Long-term Economic Planning Challenges The chapter discusses the challenges faced in long-term economic planning, focusing on the situation in the UK. It highlights a significant reduction in social housing since 1980, with 1.4 million fewer households in social housing. The UK's Gini coefficient, an indicator of inequality, has been rising steadily, exacerbating issues of overcrowding in both private and social housing sectors. This situation has led to an increase in homelessness, although it often remains hidden from the general public. The chapter also touches on the reliance on temporary housing, which has seen a decline, worsening the housing crisis.

Why No One Wants to Live in the UK Transcription

• 00:00 - 00:30 this is London it's the capital city of the United Kingdom and one of the richest cities in the world with an economy worth more than half a trillion dollars meaning that if it were a country it would have the 26th largest economy in the world roughly the same size as norways and for nearly two centuries both in Britain and Europe it's been a hub for high value services like Finance offering some of the highest wages in the region but behind its displays of vast wealth lies a very different picture in 2023 London's
• 00:30 - 01:00 councils estimated that more than 1 in 50 people in the city are homeless this is a figure which has risen by more than 50% in just 10 years which means Britain now has by far the highest level of homelessness in the developed world all this while real wages that is what people take home after accounting for inflation have remained flat for over 15 years this means people are being paid roughly the same as they were in 2008
• 01:00 - 01:30 while the prices of almost all goods and services have increased and Essentials like housing have skyrocketed it's therefore no wonder that people are beginning to leave the UK at an unprecedented rate a junior professional could earn more than double in New York compared to London with the cost of living only around 1/3 higher because of this every year more and more of Britain's young skilled workers leave the country for a better life elsewhere particularly from Britain's famed National Health Service which is facing
• 01:30 - 02:00 a potential Exodus of doctors and nurses due to poor pay overwork and deteriorating working conditions people flooding out of the UK is perhaps a good metaphor for the current state of the British economy and ironically more people from outside the UK are immigrating to work in Britain each year than ever before whilst it's true that the primary reason of migration is to use the UK's World leading Education Services Research conducted in 2015 found that those leaving the country were significantly more skilled than
• 02:00 - 02:30 those entering the nation each year stating that increases in net migration over the last decade have significantly increase the pool of low skilled workers in Britain's economy offsetting skilled workers with less skilled workers is not good for any country as It ultimately means lower productivity and a poorer quality of goods and services that are offered within the economy so why could it be that a seemingly wealthy country like Britain is seeing a mass Exodus of some of its most talented and Young
• 02:30 - 03:00 workers part of it has to do with living standards in the UK becoming worse and worse each year in fact this was the main reason given by Britain's leaving the country and this makes sense as if you remove London's output and population it would shave off 14% from British living standards making the remaining UK perform worse economically than Mississippi the lowest ranking US state in terms of perita economic performance this all ties into a growing theme that the UK's best days are behind find it and one which is also supported
• 03:00 - 03:30 by the data in 2007 the average UK household was just 8% worse off than its peers in Northwestern Europe but in the 15 years that has followed this Gap has grown to a record 20% on present Trends the average Slovenian household will be better off than its British counterpart by 2024 and the average polish family will achieve the same feat by the end of the decade and these stagnant wages is a burden which is being disproportionately felt by those with lower incomes while
• 03:30 - 04:00 the UK's top earners rank fifth for living standards the average household ranks 12th and the poorest 5% rank 15th far from Simply losing touch with their Western European peers last year the lowest earning bracket of British households had a standard of living that was 20% weaker than their counterparts in Slovenia this is part of a growing Paradox that as more and more people move to the UK its levels of public services and pools of skilled workers are gradually declining win so let's
• 04:00 - 04:30 take a look at why this is happening to one of the richest countries in the world and why everyone suddenly wants to leave the United Kingdom before we start I'd like to thank the sponsor of today's video incog if you use the internet as much as me then your data will have ended up all around the web when you make online purchases or create accounts and what's worse is that there are data brokers who are collecting analyzing and selling your data to buyers all over the planet which is a problem because when so many
• 04:30 - 05:00 organizations are passing around your data it makes it easier for someone to sneak in and steal it I've had my data stolen in the past and trust me it's not fun it involves a lot of time and endless hassle trying to fix it there are specific websites where people can directly find your information and all someone needs to do is input your name and get access to sensitive information such as your address phone numbers employment and even information on your children and while these Services make promises not to use them for things such as store or harassment there's little
• 05:00 - 05:30 that they can do to enforce that which is why incog is such an important Service as it reaches out to these data Brokers and on your behalf requests your personal data to be removed and deals with any objection from their side this process is 100% automated and all you have to do is create an account and Grant them access to work on your behalf and then kick back and watch as your data disappears from the web it really is that easy and all you need to do is visit incog docomond and use the code invisible hand at
• 05:30 - 06:00 checkout to get 60% off an annual plan check the link in the description to get started it wasn't that long ago that Britain was one of the most prosperous and attractive destinations for young skilled talent in the world a feeling which is shared by many Britain too a recent poll found that 60% of respondents view life as being better in the 1990s and 2000s than today this era in particular is looked back upon with Nostalgia for many British people music
• 06:00 - 06:30 from bands like Oasis and the Spice Girls were worldwide hits as the cool Britannia movement swept the country and the end of the Cold War was also adding to a global sense of optimism of course there is always a tendency for people to view the world of the past favorably but the 1990s stand out in particular as they were a period of real economic success for Great Britain despite a rocky start to the decade marked by the turmoil caused from The Fallout by the ERM and a recession in the early 1990s
• 06:30 - 07:00 the UK entered an era of remarkable economic resilience from 1992 onward Britain enjoyed its longest stretch of uninterrupted growth since the second world war driven by a combination of structural reforms effective monetary policies and favorable Global conditions this period often referred to as the long expansion was characterized by continuous GDP growth and significant productivity improvements the financial sector played a pivotal role in this
• 07:00 - 07:30 economic success with substantial credit expansion particularly in property lending driving consumer spending and investment regulatory change also made the UK an attractive place to invest meaning the UK retained a positive balance of net income from abroad however in this decade Britain continued to shift towards a more service-based model of employment and while prosperous it did not provide the broad-based employment that the industrial sector had causing widespread job losses in areas like heavy industry and mining
• 07:30 - 08:00 jobs which tended to be located in poorer areas of the country away from cities like London the UK continued to grow in this period however Midway through the 2000s a number of problems were starting to appear and the financial crisis of 2008 exposed and exacerbated these underlying weaknesses in Britain's economic model revealing an overreliance on financial services and a lack of adequate investment in other vital sectors
• 08:00 - 08:30 today the nation grapples with a number of severe issues including an overstretched NHS a housing affordability crisis and aging infrastructure all of which stem from past policies and require urgent attention to secure a sustainable future perhaps the most important issue for people living in the UK right now is that of housing not only are there not enough homes but ones which exist have become unaffordable for the vast majority of the population
• 08:30 - 09:00 this has made home ownership for firsttime buyers nearly impossible without an income far above the average or financial support from the so-called Bank of mom and dad and this shouldn't come as a surprise the UK has consistently built fewer homes compared to the needs of its growing population especially when compared to other developing countries this shortfall is largely due to restrictive planning laws limited government funding for public housing and a prioritization of other economic areas over residential construction ruction over the decades
• 09:00 - 09:30 the cumulative effect of not building enough homes has led to a significant Supply demand imbalance in the housing market this is an issue which has its roots in policies of the past introduced in the late 1970s the right to buy scheme allowed tenants in public housing to purchase their homes at a discount at the time this policy was seen as really Progressive as it made home ownership achievable for those who before could only have dreamt of it and while this policy enabled many people to own a property it also led to a substantial
• 09:30 - 10:00 reduction in the stock of social housing and since these homes were not replaced at a sufficient rate the social housing sector shrunk by about 25% since the 1970s Al while the population has continued to increase with fewer social homes available and ongoing challenges in housing affordability more individuals and families have turned to the private rental sector this increased demand has naturally led to Rising rents as the supply has not adequately kept
• 10:00 - 10:30 pace with the demand Rising rental costs have disproportionately affected those on Lower incomes who find fewer affordable options available and usually need to compete on price for what they can afford and what makes all this worse is that house prices have continued to outstrip real wages for well over 30 years creating an even bigger difference in society between those who own their homes and those who don't housing Supply is of course an issue across a number of Western European economies iies however
• 10:30 - 11:00 it's particularly bad in the UK in England there are now 1.4 million fewer households in social housing than in 1980 Al while the UK's Genie coefficient a measure of inequality has been steadily Rising this has led to overcrowding both in the private sector and in social housing and what this means is that on an unprecedented scale more and more households are being pushed into homelessness but one which is less visible to the broader public temporary housing after declining for
• 11:00 - 11:30 several years the number of English households living in temporary accommodation has more than doubled between 2010 and 2023 from 48,000 to 112,000 the highest figure since records begun conditions in these buildings are often atrocious damp and mold are common place as are insects and animal infestations the disruption of being moved from place to place like this causes adults to drop out of work and children out of school further
• 11:30 - 12:00 decreasing social Mobility as those unfortunate enough to live in these conditions are even less likely to earn a higher income in the future these Arrangements also impose enormous cost on local councils which last year spent almost 1.8 billion on emergency shelter a figure that has more than doubled in real terms over the past decade this nightmare scenario is due to three main factors woefully inadequate rates of house building a dwindling social hous housing sector and the erosion of
• 12:00 - 12:30 financial support for those unable to afford Market rents and these issues aren't likely to get any better soon as shifts in the UK housing market have disproportionately disadvantaged the youth a significant portion of older individuals own a second home whereas young adults today is far less likely to own even a single home and are far more likely to rent this change reflects broader economic Trends where stagnant wages contrast with soaring asset values exacerbate in wealth disparities the
• 12:30 - 13:00 slower economic growth also means fewer opportunities to advance your career impacting earnings especially during critical early stages in the UK it used to be the case that you could expect to earn more or have a better economic Outlook than your parents however this trend looks to have died as those born in the 1980s have generally earned less by their early 30s compared to the previous generation unable to afford a home and with dwindling wages it's no wonder that some of the UK's most talented individuals are leaving for
• 13:00 - 13:30 other countries like the US Australia and New Zealand which offer a quality of life more appealing for ambitious and productive British workers stagnant wages are of course a major factor in this and this is largely thanks to dwindling productivity across the country productivity is the efficiency with which a nation produces goods and services from its inputs labor and capital and since the financial crisis of 2008 the UK has faced a Stark slowdown in productivity growth before
• 13:30 - 14:00 the crisis productivity was growing at around 2% annually however after the crisis this growth has nearly flatlined and notably there have been a significant decrease in investment since 2005 UK companies have invested 20% less than their counterparts in the US France and Germany placing Britain in the bottom 10% of oecd countries this underinvestment has resulted in outdated technology and Equipment reduced Innovation and a shortfall in skill
• 14:00 - 14:30 Development Across both industrial and service sectors and consequently the overall efficiency and Innovative capacity of the UK economy has suffered leading to slower productivity growth and nowhere is this clearer than with the UK's National Health Service the National Health Service or NHS was established in 1948 as a publicly funded Health Service that was free at the point of access since its introduction over 70 years years ago the NHS has
• 14:30 - 15:00 become a staple of British life and something which is taken for granted by many people however as time has gone on and especially in the last two decades costs have started to spiral as the quality of treatment and care provided has declined this is partly because when it was first introduced Britain's population was significantly smaller and also much younger meaning fewer people required Healthcare and treatment but even as taxes have risen over the last decade to record levels Public Services like the NHS are struggling even more
• 15:00 - 15:30 than ever the number of people waiting for NHS consultant treatment has more than doubled from 3 million to 7.4 million in the 9 years after 2014 and data consistently indicates that patients treated by the NHS for major health issues such as heart disease Strokes or cancer have lower survival rates compared to those receiving treatment in most other developed Nations and in 2014 the UK had below average survival rates for the deadliest cancers including the lowest rates among
• 15:30 - 16:00 comparable Nations for colon and pancreatic cancers it would be easy to assume that the failure of this service is from years of underfunding whilst this is partly true the NHS has seen a significant increase in funding and staing levels since 2019 and in 2023 NHS funding was 11% higher in real terms than it was in the previous 4 years additionally the number of senior doctors has risen by 9% and there are 8% more nurses in health visitors even
• 16:00 - 16:30 after adjusting for high staff sickness absences so what's the problem despite more funding and more staff the NHS faces Rising costs due to several factors an aging population requires more Medical Care new medical Technologies and treatments are expensive and drug prices are increasing all while people are expecting higher quality Medical Care and in the last few years as inflation has run rampant staff are expecting higher wages which which also adds to the cost these Rising
• 16:30 - 17:00 expenses known as health inflation make it difficult for the NHS to improve services and outcomes even with more resources this presents an issue as in order to provide a good level of care for an increasingly aging population the NHS needs to invest in the long-term future but currently there isn't enough money for this even though funding has increased this is being used to cover the increased maintenance costs of the service which have surged over the last decade meaning there is little to no
• 17:00 - 17:30 money left over to invest in the long-term capacity of the NHS and money needs to be redirected to cover the daily operational costs this underinvestment in the NHS is part of a broader pattern of inadequate infrastructure spending across the UK sectors including transportation and public services also suffer from underfunding leading to inefficiencies and reducing service quality new projects are also significantly harder and more expensive to build in the UK than in other
• 17:30 - 18:00 countries and nowhere is this better shown than with hs2 this was a proposed high-speed rail network to better connect North and Southern England ignoring the fact that these rail networks already exist the project was first conceived in 2019 and taking 11 more years to begin Construction in 2020 by which time the proposed costs of construction had ballooned from 37 to over1 billion all of this only for it to be abandoned in 201 23 an issue which has made many of
• 18:00 - 18:30 the existing issues in the UK worse is of course brexit brexit and its effects have been multifaceted and could easily take up a whole video on itself and while the decision by the UK public to leave the European Union in 2016 has undoubtedly made the UK worse off than it was before namely through a reduction of trade with the UK's largest trading partner the EU it's not the sole reason for Britain's economic decline as many of the hardships currently being faced by Britain are also present in other
• 18:30 - 19:00 European economies and Britain's current brain drain crisis is caused by a whole host of other factors namely the desire for New Opportunities and a higher quality of life turning back to the country's favorite decade the focus on immediate economic gains during the 1990s often came at the expense of long-term infrastructure planning and investment although privatization was meant to bring in capital for infrastructure upgrades in many cases it led to underinvestment is private companies sought to maximize profits
• 19:00 - 19:30 rather than reinvest in long-term improvements and now the UK is paying the price and even with the potential of a change in government in the general election it doesn't look like things will get better for a number of years