Back<00:00:00.240> in<00:00:00.400> the<00:00:00.560> '<00:00:00.560> 50s,<00:00:00.880> '60s,<00:00:01.199> '7s,<00:00:01.680> '<00:00:01.680> 80s,<00:00:02.240> the

Back in the ' 50s, '60s, '7s, ' 80s, the

Back in the ' 50s, '60s, '7s, ' 80s, the government<00:00:02.639> of<00:00:02.879> this<00:00:03.040> country<00:00:03.280> had<00:00:03.439> a<00:00:03.600> lot<00:00:03.760> of

government of this country had a lot of

government of this country had a lot of wealth.<00:00:04.240> You<00:00:04.319> know,<00:00:04.400> it<00:00:04.560> owned<00:00:04.720> schools,<00:00:04.960> it

wealth. You know, it owned schools, it

wealth. You know, it owned schools, it owned<00:00:05.359> hospitals<00:00:05.600> and<00:00:05.759> that<00:00:05.920> meant<00:00:06.080> it<00:00:06.240> could

owned hospitals and that meant it could

owned hospitals and that meant it could provide<00:00:06.640> public<00:00:06.879> services.<00:00:07.680> That<00:00:08.000> collapsed

provide public services. That collapsed

provide public services. That collapsed during<00:00:08.559> the<00:00:08.720> 90s<00:00:08.960> and<00:00:09.200> 2000s<00:00:09.760> and<00:00:09.920> then<00:00:10.240> during

during the 90s and 2000s and then during

during the 90s and 2000s and then during COVID<00:00:11.120> massively<00:00:11.599> collapsed<00:00:11.920> negative.

COVID massively collapsed negative.

COVID massively collapsed negative. Where<00:00:12.880> has<00:00:13.040> that<00:00:13.120> wealth<00:00:13.360> gone<00:00:13.599> now?<00:00:13.920> There's

Where has that wealth gone now? There's

Where has that wealth gone now? There's this<00:00:14.400> there<00:00:14.639> is<00:00:14.799> a<00:00:14.960> phenomenal<00:00:15.599> naivity<00:00:16.240> about

this there is a phenomenal naivity about

this there is a phenomenal naivity about wealth<00:00:16.800> in<00:00:16.960> the<00:00:17.119> economic<00:00:17.520> conversation.

wealth in the economic conversation.

wealth in the economic conversation. Now,<00:00:18.480> if<00:00:18.720> you<00:00:18.880> do<00:00:19.039> not<00:00:19.199> get<00:00:19.279> that<00:00:19.520> wealth<00:00:19.760> back,

Now, if you do not get that wealth back,

Now, if you do not get that wealth back, you<00:00:20.640> have<00:00:20.800> no<00:00:20.960> choice<00:00:21.199> but<00:00:21.359> to<00:00:21.520> shut<00:00:21.680> the

you have no choice but to shut the

you have no choice but to shut the welfare<00:00:22.080> state<00:00:22.320> down.<00:00:22.720> Which<00:00:22.800> is<00:00:22.960> why<00:00:23.119> I<00:00:23.279> was

welfare state down. Which is why I was

welfare state down. Which is why I was screaming<00:00:23.760> at<00:00:24.000> government<00:00:24.560> before<00:00:24.880> the

screaming at government before the

screaming at government before the election.<00:00:25.439> I<00:00:25.600> was<00:00:25.760> screaming<00:00:26.080> at<00:00:26.480> Labour

election. I was screaming at Labour

election. I was screaming at Labour Party<00:00:27.039> because<00:00:27.119> we<00:00:27.279> knew<00:00:27.439> they<00:00:27.599> were<00:00:27.680> coming

Party because we knew they were coming

Party because we knew they were coming in.<00:00:28.320> listen,<00:00:28.960> you<00:00:29.119> need<00:00:29.199> to<00:00:29.359> do<00:00:29.519> something

in. listen, you need to do something

in. listen, you need to do something about<00:00:30.080> taxation.<00:00:30.640> You<00:00:30.800> need<00:00:30.880> to<00:00:30.960> do<00:00:31.119> something

about taxation. You need to do something

about taxation. You need to do something about<00:00:31.519> wealth.<00:00:32.079> They<00:00:32.320> were<00:00:32.399> naive<00:00:32.719> to<00:00:32.880> that.

about wealth. They were naive to that.

about wealth. They were naive to that. They've<00:00:33.600> walked<00:00:33.760> into<00:00:34.000> the<00:00:34.239> situation.

They've walked into the situation.

They've walked into the situation. They've<00:00:35.120> got<00:00:35.200> no<00:00:35.440> wealth.<00:00:35.760> They're<00:00:35.920> bankrupt.

They've got no wealth. They're bankrupt.

They've got no wealth. They're bankrupt. The<00:00:36.559> rich<00:00:36.719> are<00:00:36.880> super<00:00:37.120> rich.<00:00:37.440> They<00:00:37.600> are

The rich are super rich. They are

The rich are super rich. They are unwilling<00:00:38.160> to<00:00:38.320> tax<00:00:38.559> them.<00:00:38.800> And<00:00:38.960> now<00:00:39.120> they're

unwilling to tax them. And now they're

unwilling to tax them. And now they're left<00:00:39.520> with<00:00:39.760> basically<00:00:40.160> no<00:00:40.399> choice<00:00:40.640> but<00:00:40.800> to

left with basically no choice but to

left with basically no choice but to shut<00:00:41.120> the<00:00:41.200> welfare<00:00:41.520> state<00:00:41.840> down.<00:00:42.160> Listen,

shut the welfare state down. Listen,

shut the welfare state down. Listen, this<00:00:43.120> is<00:00:43.280> what<00:00:43.520> happens<00:00:43.760> if<00:00:43.920> you<00:00:44.079> are<00:00:44.239> naive

this is what happens if you are naive

this is what happens if you are naive about<00:00:44.719> wealth.<00:00:45.120> Wealth<00:00:45.360> is<00:00:45.600> hemorrhaging

about wealth. Wealth is hemorrhaging

about wealth. Wealth is hemorrhaging from<00:00:46.399> government,<00:00:46.960> from<00:00:47.120> the<00:00:47.280> middle<00:00:47.440> class

from government, from the middle class

from government, from the middle class to<00:00:47.840> the<00:00:48.000> rich.<00:00:48.480> If<00:00:48.640> you<00:00:48.800> do<00:00:48.960> not<00:00:49.120> stop<00:00:49.360> that

to the rich. If you do not stop that

to the rich. If you do not stop that flow<00:00:49.680> of<00:00:49.840> wealth,<00:00:50.399> you<00:00:50.559> have<00:00:50.719> no<00:00:50.960> no<00:00:51.200> choice

flow of wealth, you have no no choice

flow of wealth, you have no no choice but<00:00:51.760> to<00:00:51.920> shut<00:00:52.079> down<00:00:52.239> the<00:00:52.399> welfare<00:00:52.719> state<00:00:52.960> that

but to shut down the welfare state that

but to shut down the welfare state that our<00:00:53.280> grandparents<00:00:53.840> and<00:00:54.079> great-grandparents

our grandparents and great-grandparents

our grandparents and great-grandparents fought<00:00:55.039> and<00:00:55.120> died