so i want to do a video about the government  debt and government cuts because recently i  

did an interview on the radio where they said  that we can't afford TFL we have to close the  

Bakerloo line we can't afford obviously the train  to Leeds that's been cancelled and we can't afford  

the cost of the NHS then we can't afford the cost  of social care and the reason given for this is  

because the government debt has increased now  i would encourage anyone who hasn't watched it  

to watch the first video on this channel which  is about the finances of Covid-19 because the  

government debt increased massively during Covid 19 but the government printed that money and it  

was given out and ended up sitting in the bank  account of wealthy individuals so whilst the  

government debt has increased by £450 billion  billionaire wealth has increased by £106billion  

which is a quarter of the amount and the  rest is being held by wealthy individuals so i  

want people to remember that that government debt  is not to nobody it is to the wealthy individuals  

of this country and there has been an equivalent  increase in the wealth of wealthy individuals now  

if you watch that video the finance of Covid-19  you'll see a year and a half ago i predicted that  

there'd be a massive increase in billionaire and  wealthy individual wealth that would push up house  

prices and it would push up inflation and push up  the government debt it's exactly what has happened  

and what i said at the time was that may be used  to justify cutting services for ordinary people  

and raising taxes on ordinary people  which is again exactly what has happened  

taxes on ordinary people have been raised  so what i want you to do is to connect  

the government debt to the increased wealth of  wealthy individuals we talk about this in the what  

is wealth video that the debt of the government is  also the wealth of wealthy individuals so what we  

have had here is covered has essentially been used  to increase government debt but also make the rich  

enormously richer it has been the biggest ever in  all of history single year increase in billionaire  

and super rich wealth and what this means is  all of these things we're told we can't afford  

it's only because the government has transferred  an enormous amount of wealth to the richest in  

our society if we tax that wealth back we can  afford all the things that we as a society need  

if we don't tax it back then number one we  can't afford those things and number two  

ordinary people like you will have to pay more  taxes from your salaries and what we see now is  

the chancellor who is a billionaire cutting tax on  billionaires raising tax on ordinary people making  

billionaire wealth increase by more than it's  ever increased in the past and at the same time  

raising your taxes so the main thing  to understand here the debt of the  

government has only increased by as much as  the wealth of the super rich has increased  

we can get that back if we choose to tax  the richest and if we don't then we can't  

and it will have to be taxed on the rest of  us and cuts to our services. happy with that?

but poorer families will be forced  to lose almost all of the assets  

including their home we have a tax system which is  very efficient attacking ordinary working people  

but very inefficient attacks in the super rich