joining<00:00:03.120> me<00:00:03.240> today<00:00:03.480> conservative<00:00:04.319> party

joining me today conservative party

joining me today conservative party Deputy<00:00:05.400> chair<00:00:05.580> Nikki<00:00:06.120> Aiken<00:00:06.540> labor<00:00:07.379> MP<00:00:07.740> Angela

Deputy chair Nikki Aiken labor MP Angela

Deputy chair Nikki Aiken labor MP Angela Eagle<00:00:08.580> City<00:00:09.420> Trader<00:00:09.960> turned<00:00:10.380> equality

Eagle City Trader turned equality

Eagle City Trader turned equality campaigner<00:00:11.519> Gary<00:00:11.820> Stevenson<00:00:12.420> and<00:00:12.780> from<00:00:13.019> The

campaigner Gary Stevenson and from The

campaigner Gary Stevenson and from The Institute<00:00:13.740> of<00:00:13.860> economic<00:00:14.340> Affairs<00:00:14.820> Annabelle

Institute of economic Affairs Annabelle

Institute of economic Affairs Annabelle Denham<00:00:16.020> today<00:00:16.880> 2.1<00:00:17.880> billion<00:00:18.300> pounds<00:00:18.600> to<00:00:18.840> level

Denham today 2.1 billion pounds to level

Denham today 2.1 billion pounds to level up<00:00:19.199> the<00:00:19.440> UK<00:00:19.859> we<00:00:20.460> know<00:00:20.580> where<00:00:20.880> it's<00:00:21.119> going<00:00:21.359> but

up the UK we know where it's going but

up the UK we know where it's going but will<00:00:21.900> it<00:00:22.020> work

will it work

will it work if<00:00:23.460> you<00:00:23.580> look<00:00:23.699> at<00:00:23.880> the<00:00:24.060> funding<00:00:24.359> and<00:00:24.779> you

if you look at the funding and you

if you look at the funding and you compare<00:00:25.320> it<00:00:25.439> to<00:00:25.560> the<00:00:25.680> number<00:00:25.859> of<00:00:26.039> people<00:00:26.220> that

compare it to the number of people that

compare it to the number of people that live<00:00:26.640> in<00:00:26.760> each<00:00:26.939> region<00:00:27.300> the<00:00:27.779> region<00:00:28.019> that<00:00:28.199> has

live in each region the region that has

live in each region the region that has done<00:00:28.500> the<00:00:28.740> best<00:00:29.039> in<00:00:29.279> the<00:00:29.460> amount<00:00:29.640> of<00:00:29.760> funding

done the best in the amount of funding

done the best in the amount of funding per<00:00:30.359> person<00:00:30.599> is<00:00:31.140> the<00:00:31.320> north<00:00:31.500> it's<00:00:31.859> a<00:00:32.099> one-off

per person is the north it's a one-off

per person is the north it's a one-off pot<00:00:32.700> of<00:00:32.880> money<00:00:33.059> that<00:00:33.719> pits<00:00:34.200> communities

pot of money that pits communities

pot of money that pits communities against<00:00:34.920> one<00:00:35.340> another<00:00:35.460> creates<00:00:36.120> winners<00:00:36.540> and

against one another creates winners and

against one another creates winners and losers<00:00:37.079> it's<00:00:37.620> a<00:00:37.739> hunger<00:00:38.040> game<00:00:38.219> style

losers it's a hunger game style

losers it's a hunger game style competition

competition

competition King<00:00:40.680> Charles<00:00:40.980> is<00:00:41.340> giving<00:00:41.640> some<00:00:42.120> of<00:00:42.300> his

King Charles is giving some of his

King Charles is giving some of his millions<00:00:42.780> back<00:00:43.079> to<00:00:43.260> the<00:00:43.440> treasury<00:00:43.739> should

millions back to the treasury should

millions back to the treasury should more<00:00:44.340> millionaires<00:00:45.000> be<00:00:45.180> made<00:00:45.300> to<00:00:45.540> do<00:00:45.719> the<00:00:45.960> same

more millionaires be made to do the same

more millionaires be made to do the same this<00:00:46.860> former<00:00:47.160> city<00:00:47.280> Trader<00:00:47.760> thinks<00:00:48.059> they

this former city Trader thinks they

this former city Trader thinks they should<00:00:48.420> for<00:00:48.719> the<00:00:48.899> good<00:00:49.020> of<00:00:49.260> the<00:00:49.440> economy

should for the good of the economy

should for the good of the economy and<00:00:50.879> would<00:00:51.120> you<00:00:51.239> rather<00:00:51.420> eat<00:00:51.719> a<00:00:51.899> burger<00:00:52.020> made

and would you rather eat a burger made

and would you rather eat a burger made of<00:00:52.620> this

of this

of this or<00:00:53.940> this<00:00:54.239> can<00:00:54.960> lab-grown<00:00:55.680> meat<00:00:56.039> cure<00:00:56.399> our

or this can lab-grown meat cure our

or this can lab-grown meat cure our environmental<00:00:57.600> woes

environmental woes

environmental woes [Music]

let's<00:01:04.979> start<00:01:05.280> with<00:01:05.939> a<00:01:06.360> discrimination<00:01:07.020> claim

let's start with a discrimination claim

let's start with a discrimination claim brought<00:01:07.979> by<00:01:08.520> a<00:01:08.760> former<00:01:09.119> Deutsche<00:01:09.720> Bank<00:01:10.080> worker

brought by a former Deutsche Bank worker

brought by a former Deutsche Bank worker who<00:01:10.920> was<00:01:11.100> nicknamed<00:01:11.880> for<00:01:12.360> her<00:01:12.600> gray<00:01:12.780> hair

who was nicknamed for her gray hair

who was nicknamed for her gray hair Christine<00:01:13.760> Lagarde<00:01:14.760> Christine<00:01:15.299> Lagarde<00:01:15.720> is

Christine Lagarde Christine Lagarde is

Christine Lagarde Christine Lagarde is the<00:01:15.900> president<00:01:16.020> of<00:01:16.380> the<00:01:16.500> European<00:01:16.860> Central

the president of the European Central

the president of the European Central Bank<00:01:17.460> you<00:01:17.820> can<00:01:17.939> see<00:01:18.180> her<00:01:18.600> here<00:01:18.900> rather<00:01:19.619> than

Bank you can see her here rather than

Bank you can see her here rather than the<00:01:20.280> former<00:01:20.640> Banker<00:01:21.060> from<00:01:21.240> Deutsche<00:01:21.659> Bank<00:01:21.780> who

the former Banker from Deutsche Bank who

the former Banker from Deutsche Bank who has<00:01:22.200> lost<00:01:22.560> that<00:01:23.220> discrimination<00:01:23.939> claim<00:01:24.720> it

has lost that discrimination claim it

has lost that discrimination claim it wasn't<00:01:25.680> the<00:01:26.040> entire<00:01:26.460> case<00:01:26.880> that<00:01:27.299> she

wasn't the entire case that she

wasn't the entire case that she presented<00:01:27.960> but<00:01:28.259> the<00:01:28.500> judge<00:01:28.799> ruled<00:01:29.100> that<00:01:29.580> the

presented but the judge ruled that the

presented but the judge ruled that the nickname<00:01:30.240> or<00:01:30.659> jokes<00:01:31.080> about<00:01:31.380> gray<00:01:31.920> hair<00:01:32.280> was

nickname or jokes about gray hair was

nickname or jokes about gray hair was just<00:01:33.420> part<00:01:33.659> of<00:01:33.840> the<00:01:34.080> irritation<00:01:34.560> of

just part of the irritation of

just part of the irritation of day-to-day<00:01:35.700> office<00:01:36.060> life<00:01:36.540> which

day-to-day office life which

day-to-day office life which occasionally<00:01:37.820> occurs<00:01:38.820> is<00:01:39.299> the<00:01:39.479> judge<00:01:39.720> right

is<00:01:43.079> this<00:01:43.200> the<00:01:43.380> sort<00:01:43.560> of<00:01:43.680> comment<00:01:43.920> that<00:01:44.100> would

is this the sort of comment that would

is this the sort of comment that would have<00:01:44.340> been<00:01:44.520> made<00:01:44.759> in<00:01:45.060> some<00:01:45.180> of<00:01:45.299> the<00:01:45.420> places

have been made in some of the places

have been made in some of the places where<00:01:46.380> you<00:01:46.560> worked<00:01:46.920> as<00:01:47.280> a<00:01:47.700> city<00:01:47.939> Trader<00:01:48.720> and<00:01:49.380> do

where you worked as a city Trader and do

where you worked as a city Trader and do you<00:01:49.619> think<00:01:49.740> this<00:01:49.860> woman<00:01:50.040> had<00:01:50.340> a<00:01:50.520> case<00:01:50.700> uh

you think this woman had a case uh

you think this woman had a case uh really<00:01:51.540> on<00:01:51.960> jokes<00:01:52.380> about<00:01:52.619> being<00:01:52.920> gray-haired

really on jokes about being gray-haired

really on jokes about being gray-haired because<00:01:53.880> she's<00:01:54.180> older

because she's older

because she's older there<00:01:55.860> was<00:01:56.100> definitely<00:01:56.280> a<00:01:56.340> lot<00:01:56.460> of<00:01:56.520> joking

there was definitely a lot of joking

there was definitely a lot of joking like<00:01:56.880> this<00:01:57.000> when<00:01:57.180> I<00:01:57.240> was<00:01:57.360> on<00:01:57.420> the<00:01:57.540> trading

like this when I was on the trading

like this when I was on the trading floor<00:01:58.380> um<00:01:58.500> I<00:01:58.740> was<00:01:58.799> in<00:01:58.920> my<00:01:59.040> early<00:01:59.220> 20s<00:01:59.579> so<00:01:59.820> I

floor um I was in my early 20s so I

floor um I was in my early 20s so I definitely<00:02:00.299> wasn't<00:02:00.420> in<00:02:00.659> my<00:02:00.780> gray<00:02:00.899> era<00:02:01.259> at<00:02:01.320> that

definitely wasn't in my gray era at that

definitely wasn't in my gray era at that time

time

time um<00:02:02.399> I<00:02:03.000> got<00:02:03.119> teased<00:02:03.479> quite<00:02:03.600> a<00:02:03.659> lot<00:02:03.720> well<00:02:03.840> I<00:02:03.960> got

um I got teased quite a lot well I got

um I got teased quite a lot well I got teased<00:02:04.380> for<00:02:04.500> it<00:02:04.619> is<00:02:04.740> the<00:02:04.860> way<00:02:04.979> that<00:02:05.100> I<00:02:05.219> took<00:02:05.460> you

teased for it is the way that I took you

teased for it is the way that I took you know<00:02:06.240> I'm<00:02:06.659> from<00:02:06.840> pretty<00:02:07.020> poor<00:02:07.320> buck<00:02:07.439> and<00:02:07.619> I'm

know I'm from pretty poor buck and I'm

know I'm from pretty poor buck and I'm from<00:02:07.860> east<00:02:07.979> London<00:02:08.280> there's<00:02:08.520> not<00:02:08.700> many<00:02:08.819> people

from east London there's not many people

from east London there's not many people from<00:02:09.300> my<00:02:09.479> sort<00:02:09.660> of<00:02:09.780> background<00:02:09.959> on<00:02:10.200> the

from my sort of background on the

from my sort of background on the trading<00:02:10.560> floor<00:02:10.679> nowadays<00:02:11.220> but<00:02:11.640> for<00:02:11.819> me<00:02:12.000> what

trading floor nowadays but for me what

trading floor nowadays but for me what was<00:02:12.780> important<00:02:13.200> was<00:02:13.440> even<00:02:14.160> though<00:02:14.280> I<00:02:14.459> came

was important was even though I came

was important was even though I came from<00:02:14.700> that<00:02:14.819> background<00:02:15.120> and<00:02:15.239> I<00:02:15.420> talked<00:02:15.540> how<00:02:15.720> I

from that background and I talked how I

from that background and I talked how I do<00:02:16.020> they<00:02:16.680> gave<00:02:16.920> me<00:02:17.040> a<00:02:17.220> chance<00:02:17.340> to<00:02:17.520> trade

do they gave me a chance to trade

do they gave me a chance to trade against<00:02:17.940> everybody<00:02:18.239> else<00:02:18.660> and<00:02:19.080> when<00:02:19.319> they<00:02:19.440> saw

against everybody else and when they saw

against everybody else and when they saw that<00:02:19.800> I<00:02:20.099> was<00:02:20.220> a<00:02:20.280> better<00:02:20.400> Trader<00:02:20.760> than

that I was a better Trader than

that I was a better Trader than everybody<00:02:20.940> else<00:02:21.300> I<00:02:21.720> was<00:02:21.840> the<00:02:22.020> guy<00:02:22.200> and<00:02:22.860> I<00:02:22.980> think

everybody else I was the guy and I think

everybody else I was the guy and I think I've<00:02:23.580> actually<00:02:23.819> seen<00:02:24.180> bigger<00:02:25.140> problems<00:02:25.500> after

I've actually seen bigger problems after

I've actually seen bigger problems after that<00:02:25.980> when<00:02:26.160> I<00:02:26.280> went<00:02:26.340> to<00:02:26.520> do<00:02:26.640> a<00:02:26.879> Master<00:02:27.000> Oxford

that when I went to do a Master Oxford

that when I went to do a Master Oxford since<00:02:27.900> I've<00:02:28.080> been<00:02:28.140> in<00:02:28.260> the<00:02:28.379> media

since I've been in the media

since I've been in the media people<00:02:29.879> that<00:02:30.120> speak<00:02:30.239> like<00:02:30.420> me<00:02:30.599> are<00:02:30.840> very

people that speak like me are very

people that speak like me are very rarely<00:02:31.200> used<00:02:31.379> to<00:02:31.560> talk<00:02:31.620> about<00:02:31.739> economics<00:02:32.280> so

rarely used to talk about economics so

rarely used to talk about economics so for<00:02:33.599> me<00:02:33.780> even<00:02:34.379> though<00:02:34.560> in<00:02:34.739> the<00:02:34.860> city<00:02:34.980> I<00:02:35.220> was

for me even though in the city I was

for me even though in the city I was teased<00:02:35.819> I<00:02:36.599> was<00:02:36.720> listened<00:02:37.140> to<00:02:37.200> whereas<00:02:38.520> you

teased I was listened to whereas you

teased I was listened to whereas you know<00:02:39.000> I<00:02:39.060> often<00:02:39.360> question<00:02:39.480> the<00:02:39.720> media<00:02:40.080> why

know I often question the media why

know I often question the media why there<00:02:40.379> are<00:02:40.500> so<00:02:40.560> few<00:02:40.739> people<00:02:40.920> with<00:02:41.099> regional

there are so few people with regional

there are so few people with regional accents<00:02:41.879> who<00:02:42.000> have<00:02:42.120> experienced<00:02:42.540> poverty

accents who have experienced poverty

accents who have experienced poverty talking<00:02:43.500> about<00:02:43.680> economics<00:02:44.099> I<00:02:44.220> don't<00:02:44.340> get

talking about economics I don't get

talking about economics I don't get teased<00:02:44.879> here<00:02:45.000> but<00:02:45.420> where<00:02:45.660> are<00:02:45.840> the<00:02:45.959> voices<00:02:46.140> and

teased here but where are the voices and

teased here but where are the voices and what<00:02:46.560> about<00:02:46.739> older<00:02:47.160> people<00:02:47.280> as<00:02:47.459> you<00:02:47.640> say<00:02:47.760> you

what about older people as you say you

what about older people as you say you were<00:02:48.000> in<00:02:48.120> your<00:02:48.239> 20s<00:02:48.599> it<00:02:48.900> was<00:02:49.019> your<00:02:49.260> accent

were in your 20s it was your accent

were in your 20s it was your accent um<00:02:50.459> you<00:02:50.700> say<00:02:50.879> that<00:02:51.120> perhaps<00:02:51.420> there<00:02:51.599> weren't

um you say that perhaps there weren't

um you say that perhaps there weren't many<00:02:52.080> people<00:02:52.260> speaking<00:02:52.860> like<00:02:53.040> you<00:02:53.340> who<00:02:53.700> are

many people speaking like you who are

many people speaking like you who are economists<00:02:54.780> do<00:02:54.959> you<00:02:55.140> think<00:02:55.200> attitudes<00:02:55.739> to

economists do you think attitudes to

economists do you think attitudes to older<00:02:56.459> people<00:02:56.640> in<00:02:57.239> the<00:02:57.360> workplace<00:02:57.780> in<00:02:58.260> those

older people in the workplace in those

older people in the workplace in those sorts<00:02:58.800> of<00:02:58.860> workplaces<00:02:59.519> is<00:03:00.000> a<00:03:00.180> problem

sorts of workplaces is a problem

sorts of workplaces is a problem you<00:03:01.980> know<00:03:02.099> a<00:03:02.220> lot<00:03:02.340> of<00:03:02.400> people<00:03:02.459> don't<00:03:02.640> survive

you know a lot of people don't survive

you know a lot of people don't survive into<00:03:03.180> therefore<00:03:03.840> no<00:03:04.200> not<00:03:04.379> as<00:03:04.560> traders<00:03:04.980> in

into therefore no not as traders in

into therefore no not as traders in trading

trading

trading um

um

um I<00:03:07.500> mean<00:03:07.560> it's<00:03:07.680> a<00:03:07.860> to<00:03:08.040> be<00:03:08.160> honest<00:03:08.340> it's<00:03:08.459> a<00:03:08.760> it's<00:03:08.879> a

I mean it's a to be honest it's a it's a

I mean it's a to be honest it's a it's a doggy<00:03:09.239> dog<00:03:09.360> world<00:03:09.540> for<00:03:09.720> everyone<00:03:09.840> in<00:03:10.319> that

doggy dog world for everyone in that

doggy dog world for everyone in that space

space

space um<00:03:11.340> but<00:03:12.120> the<00:03:12.360> one<00:03:12.540> thing<00:03:12.659> I<00:03:12.780> liked<00:03:13.019> about

um but the one thing I liked about

um but the one thing I liked about trading<00:03:13.620> was<00:03:13.800> you're<00:03:14.099> judged<00:03:14.400> on<00:03:14.459> your

trading was you're judged on your

trading was you're judged on your results<00:03:14.760> so<00:03:15.360> really<00:03:15.540> whatever<00:03:15.840> your

results so really whatever your

results so really whatever your background<00:03:16.379> if<00:03:16.680> your<00:03:16.860> results<00:03:17.040> are<00:03:17.340> good

background if your results are good

background if your results are good that's<00:03:18.180> what<00:03:18.360> matters

all<00:03:21.720> right<00:03:21.900> well<00:03:22.080> let's<00:03:22.319> turn<00:03:22.560> our<00:03:22.800> attention

all right well let's turn our attention

all right well let's turn our attention to<00:03:23.519> wealth<00:03:24.060> you<00:03:24.420> heard<00:03:24.599> in<00:03:24.900> the<00:03:25.019> headlines

to wealth you heard in the headlines

to wealth you heard in the headlines King<00:03:25.980> Charles<00:03:26.480> multi-millionaire<00:03:27.480> has<00:03:27.720> asked

King Charles multi-millionaire has asked

King Charles multi-millionaire has asked for<00:03:28.080> a<00:03:28.379> surge<00:03:28.680> in<00:03:28.920> profits<00:03:29.400> from<00:03:29.580> the<00:03:29.700> crown

for a surge in profits from the crown

for a surge in profits from the crown estate<00:03:30.360> in<00:03:30.720> offshore<00:03:31.140> wind<00:03:31.319> farms<00:03:31.800> to<00:03:32.340> be<00:03:32.459> used

estate in offshore wind farms to be used

estate in offshore wind farms to be used for<00:03:32.819> what<00:03:33.000> he<00:03:33.180> called<00:03:33.360> The<00:03:33.720> Wider<00:03:34.140> public<00:03:34.680> good

for what he called The Wider public good

for what he called The Wider public good so<00:03:35.819> it<00:03:36.060> would<00:03:36.239> mean<00:03:36.480> that<00:03:37.200> some<00:03:37.379> money<00:03:37.560> set

so it would mean that some money set

so it would mean that some money set aside<00:03:38.280> for<00:03:38.879> The<00:03:39.060> Sovereign<00:03:39.420> Grant<00:03:39.780> you<00:03:39.959> can

aside for The Sovereign Grant you can

aside for The Sovereign Grant you can see<00:03:40.200> here<00:03:40.319> the<00:03:40.500> headline<00:03:40.799> in<00:03:41.040> the<00:03:41.159> times

see here the headline in the times

see here the headline in the times king's<00:03:41.760> crown<00:03:42.000> estate<00:03:42.120> Wind<00:03:42.420> Farm<00:03:42.659> to

king's crown estate Wind Farm to

king's crown estate Wind Farm to generate<00:03:43.200> a<00:03:43.440> billion<00:03:43.799> pounds<00:03:44.280> for<00:03:44.760> Britain<00:03:45.120> it

generate a billion pounds for Britain it

generate a billion pounds for Britain it would<00:03:45.900> be<00:03:46.019> set<00:03:46.200> aside<00:03:46.560> normally<00:03:47.099> for<00:03:47.280> The

would be set aside normally for The

would be set aside normally for The Sovereign<00:03:47.760> Grant<00:03:48.180> which<00:03:48.659> runs<00:03:48.959> the<00:03:49.080> Royal

Sovereign Grant which runs the Royal

Sovereign Grant which runs the Royal household<00:03:49.680> but<00:03:49.980> in<00:03:50.220> this<00:03:50.340> case<00:03:50.580> he's

household but in this case he's

household but in this case he's suggesting<00:03:51.299> it<00:03:51.480> be<00:03:51.659> retained<00:03:52.140> by<00:03:52.680> the

suggesting it be retained by the

suggesting it be retained by the treasury<00:03:53.280> and<00:03:53.940> can<00:03:54.239> be<00:03:54.420> used<00:03:54.659> for<00:03:55.140> public

treasury and can be used for public

treasury and can be used for public spending<00:03:55.980> so<00:03:56.340> should<00:03:56.760> the<00:03:57.120> rest<00:03:57.239> of<00:03:57.900> the<00:03:58.080> rich

spending so should the rest of the rich

spending so should the rest of the rich be<00:03:58.560> doing<00:03:58.799> something<00:03:59.220> similar<00:03:59.940> what<00:04:00.180> do<00:04:00.299> you

be doing something similar what do you

be doing something similar what do you make<00:04:00.540> of<00:04:00.900> the<00:04:01.080> king's<00:04:01.560> decision<00:04:01.799> announcement

make of the king's decision announcement

make of the king's decision announcement today<00:04:02.519> a<00:04:03.060> good<00:04:03.299> oh<00:04:03.840> it's<00:04:04.019> very<00:04:04.260> generous<00:04:04.560> of

today a good oh it's very generous of

today a good oh it's very generous of him<00:04:04.860> I<00:04:05.040> wish<00:04:05.400> I<00:04:05.459> had<00:04:05.580> a<00:04:05.700> billion<00:04:05.879> pounds<00:04:06.180> I

him I wish I had a billion pounds I

him I wish I had a billion pounds I could<00:04:06.420> donate<00:04:06.780> away<00:04:06.959> and<00:04:07.260> be<00:04:07.500> able<00:04:07.680> to<00:04:07.739> afford

could donate away and be able to afford

could donate away and be able to afford um<00:04:08.580> but<00:04:08.819> it's<00:04:08.940> not<00:04:09.060> enough<00:04:09.180> it's<00:04:09.659> not<00:04:09.840> enough

um but it's not enough it's not enough

um but it's not enough it's not enough in<00:04:10.620> the<00:04:10.739> last<00:04:10.799> three<00:04:11.040> years<00:04:11.159> the<00:04:11.459> government's

in the last three years the government's

in the last three years the government's given<00:04:12.060> out<00:04:12.260> 700<00:04:13.260> billion<00:04:13.560> pounds

given out 700 billion pounds

given out 700 billion pounds that<00:04:15.120> would<00:04:15.239> be<00:04:15.360> enough<00:04:15.480> to<00:04:15.720> give<00:04:15.840> 14<00:04:16.500> 000

that would be enough to give 14 000

that would be enough to give 14 000 pounds<00:04:16.919> to<00:04:17.220> every<00:04:17.519> single<00:04:17.820> adult<00:04:17.940> in<00:04:18.239> the

pounds to every single adult in the

pounds to every single adult in the country

country

country now<00:04:19.680> if<00:04:19.739> you're<00:04:19.859> going<00:04:20.040> to<00:04:20.100> give<00:04:20.160> up<00:04:20.280> that

now if you're going to give up that

now if you're going to give up that amount<00:04:20.699> of<00:04:20.820> money<00:04:21.000> you<00:04:21.540> need<00:04:21.720> to<00:04:21.900> do<00:04:22.019> an

amount of money you need to do an

amount of money you need to do an analysis<00:04:22.680> of<00:04:23.040> where<00:04:23.220> that<00:04:23.340> money<00:04:23.460> is<00:04:23.580> going<00:04:23.699> to

analysis of where that money is going to

analysis of where that money is going to end<00:04:23.820> up<00:04:24.000> you<00:04:24.540> have<00:04:24.660> to<00:04:24.900> and<00:04:25.440> at<00:04:25.560> the<00:04:25.620> beginning

end up you have to and at the beginning

end up you have to and at the beginning of<00:04:25.919> covert<00:04:26.340> I<00:04:26.460> was<00:04:26.520> screaming<00:04:26.820> out<00:04:26.940> let's<00:04:27.120> do

of covert I was screaming out let's do

of covert I was screaming out let's do an<00:04:27.419> analysis<00:04:27.780> of<00:04:27.840> who's<00:04:27.960> going<00:04:28.139> to<00:04:28.199> end<00:04:28.320> up

an analysis of who's going to end up

an analysis of who's going to end up with<00:04:28.500> the<00:04:28.620> 700<00:04:28.919> billion<00:04:29.220> pounds<00:04:29.520> the

with the 700 billion pounds the

with the 700 billion pounds the conservatives<00:04:30.600> didn't<00:04:30.840> do<00:04:31.020> it<00:04:31.139> labor<00:04:31.680> didn't

conservatives didn't do it labor didn't

conservatives didn't do it labor didn't do<00:04:32.040> it<00:04:32.100> the<00:04:32.400> BBC<00:04:32.820> didn't<00:04:33.000> do<00:04:33.180> it<00:04:33.300> so<00:04:33.840> I<00:04:34.020> did<00:04:34.259> it

do it the BBC didn't do it so I did it

do it the BBC didn't do it so I did it and<00:04:34.860> what<00:04:34.979> I<00:04:35.160> found<00:04:35.220> out<00:04:35.400> was<00:04:35.520> that<00:04:35.699> money<00:04:35.880> was

and what I found out was that money was

and what I found out was that money was going<00:04:36.240> to<00:04:36.300> overwhelmingly<00:04:36.900> end<00:04:37.080> up<00:04:37.199> with<00:04:37.320> the

going to overwhelmingly end up with the

going to overwhelmingly end up with the richest<00:04:37.680> people<00:04:37.800> in<00:04:37.979> society<00:04:38.340> that's<00:04:39.000> enough

richest people in society that's enough

richest people in society that's enough money<00:04:39.419> to<00:04:39.660> give<00:04:39.720> the<00:04:39.900> richest<00:04:40.259> 5<00:04:40.560> million

money to give the richest 5 million

money to give the richest 5 million adults<00:04:41.160> in<00:04:41.280> this<00:04:41.460> country<00:04:41.580> a<00:04:42.240> hundred<00:04:42.660> and

adults in this country a hundred and

adults in this country a hundred and forty<00:04:43.020> thousand<00:04:43.320> pounds<00:04:43.560> each<00:04:43.740> now<00:04:44.220> you<00:04:44.520> were

forty thousand pounds each now you were

forty thousand pounds each now you were a<00:04:45.780> millionaire<00:04:46.320> you<00:04:46.560> earned<00:04:46.800> a<00:04:46.919> million

a millionaire you earned a million

a millionaire you earned a million pounds<00:04:47.520> in<00:04:47.699> your<00:04:47.940> first<00:04:48.120> two<00:04:48.479> years

pounds in your first two years

pounds in your first two years um<00:04:49.440> you<00:04:49.740> say<00:04:49.919> as<00:04:50.400> a<00:04:50.759> Trader<00:04:51.240> you've<00:04:51.900> changed

um you say as a Trader you've changed

um you say as a Trader you've changed your<00:04:52.620> mind<00:04:52.979> about<00:04:53.759> how<00:04:54.360> uh<00:04:54.900> the<00:04:55.080> world<00:04:55.139> how

your mind about how uh the world how

your mind about how uh the world how capitalism<00:04:56.160> uh<00:04:56.880> should<00:04:57.120> work<00:04:57.360> in<00:04:57.780> the<00:04:57.900> UK<00:04:58.259> what

capitalism uh should work in the UK what

capitalism uh should work in the UK what what<00:04:58.860> what<00:04:58.919> sort<00:04:59.400> of<00:04:59.460> triggered<00:04:59.820> your<00:04:59.940> damocin

what what sort of triggered your damocin

what what sort of triggered your damocin conversion<00:05:01.259> the<00:05:01.979> way<00:05:02.100> I<00:05:02.220> became<00:05:02.460> a

conversion the way I became a

conversion the way I became a millionaire<00:05:03.060> is<00:05:03.419> after<00:05:03.600> the<00:05:03.840> 2008<00:05:04.320> crisis

millionaire is after the 2008 crisis

millionaire is after the 2008 crisis I<00:05:06.180> realized<00:05:06.540> that<00:05:06.780> because<00:05:07.080> of<00:05:07.259> a<00:05:07.440> massive

I realized that because of a massive

I realized that because of a massive growth<00:05:07.919> inequality

growth inequality

growth inequality we<00:05:09.540> would<00:05:09.660> basically<00:05:09.960> never<00:05:10.139> come<00:05:10.320> out<00:05:10.440> of

we would basically never come out of

we would basically never come out of that<00:05:10.680> crisis<00:05:10.979> and<00:05:11.460> I<00:05:11.580> started<00:05:11.880> to<00:05:11.940> put<00:05:12.120> massive

that crisis and I started to put massive

that crisis and I started to put massive bets<00:05:12.780> on<00:05:12.840> that<00:05:13.020> the<00:05:13.199> economy<00:05:13.440> would<00:05:13.500> get<00:05:13.680> worse

bets on that the economy would get worse

bets on that the economy would get worse and<00:05:13.979> worse<00:05:14.280> and<00:05:14.340> worse<00:05:14.639> and<00:05:15.240> within<00:05:15.600> a<00:05:15.780> year<00:05:15.900> of

and worse and worse and within a year of

and worse and worse and within a year of doing<00:05:16.199> that<00:05:16.380> I<00:05:16.620> became<00:05:16.860> citibank's<00:05:17.460> most

doing that I became citibank's most

doing that I became citibank's most profitable<00:05:17.880> Trader<00:05:18.240> in<00:05:18.360> the<00:05:18.479> world<00:05:18.540> so<00:05:19.259> you

profitable Trader in the world so you

profitable Trader in the world so you know<00:05:19.979> if<00:05:20.040> your<00:05:20.220> job<00:05:20.460> is<00:05:20.580> to<00:05:20.759> look<00:05:20.880> at<00:05:21.000> the

know if your job is to look at the

know if your job is to look at the economy<00:05:21.540> and<00:05:21.900> analyze<00:05:22.440> it<00:05:22.560> and<00:05:23.039> your<00:05:23.280> analysis

economy and analyze it and your analysis

economy and analyze it and your analysis is<00:05:23.880> the<00:05:24.000> economy<00:05:24.300> is<00:05:24.360> going<00:05:24.479> to<00:05:24.600> get<00:05:24.660> worse<00:05:24.840> and

is the economy is going to get worse and

is the economy is going to get worse and worse<00:05:25.139> because<00:05:25.320> of<00:05:25.500> inequality<00:05:26.039> and<00:05:26.340> they

worse because of inequality and they

worse because of inequality and they knew<00:05:26.699> what<00:05:26.759> it<00:05:26.880> does<00:05:26.940> to<00:05:27.120> be<00:05:27.180> the<00:05:27.300> best<00:05:27.360> Trader

knew what it does to be the best Trader

knew what it does to be the best Trader in<00:05:27.840> the<00:05:27.960> world<00:05:28.080> I<00:05:28.800> think<00:05:28.979> it<00:05:29.220> you<00:05:29.759> have<00:05:29.820> a

in the world I think it you have a

in the world I think it you have a responsibility<00:05:30.240> to<00:05:30.479> do<00:05:30.600> something<00:05:30.720> about<00:05:30.900> it

responsibility to do something about it

responsibility to do something about it Civics<00:05:31.500> would<00:05:31.740> say<00:05:31.860> that's<00:05:32.039> after<00:05:32.220> you<00:05:32.520> earned

Civics would say that's after you earned

Civics would say that's after you earned all<00:05:33.000> that<00:05:33.180> money<00:05:33.360> uh<00:05:33.900> that<00:05:34.080> that<00:05:34.259> was<00:05:34.740> 25<00:05:34.919> you

all that money uh that that was 25 you

all that money uh that that was 25 you know<00:05:35.580> you<00:05:35.699> could<00:05:35.820> give<00:05:35.940> me<00:05:36.060> a<00:05:36.180> bit<00:05:36.240> of<00:05:36.360> time

know you could give me a bit of time

know you could give me a bit of time um

um

um this<00:05:40.380> is<00:05:40.500> let's<00:05:40.680> not<00:05:40.919> forget<00:05:41.360> money<00:05:42.360> that<00:05:42.720> has

this is let's not forget money that has

this is let's not forget money that has been<00:05:43.020> taxed<00:05:43.500> on<00:05:43.620> acquisition<00:05:44.220> that<00:05:44.699> you<00:05:44.880> are

been taxed on acquisition that you are

been taxed on acquisition that you are then<00:05:45.180> looking<00:05:45.360> at<00:05:45.600> taxing<00:05:45.960> further<00:05:46.320> well<00:05:46.620> what

then looking at taxing further well what

then looking at taxing further well what are<00:05:46.919> the<00:05:47.039> policies<00:05:47.280> going<00:05:47.460> what<00:05:47.699> would<00:05:47.759> you<00:05:47.880> do

are the policies going what would you do

are the policies going what would you do lots<00:05:48.539> of<00:05:48.600> things<00:05:48.720> are<00:05:48.900> difficult<00:05:49.199> but<00:05:49.320> some

lots of things are difficult but some

lots of things are difficult but some things<00:05:49.620> are<00:05:49.800> important<00:05:50.100> okay<00:05:50.400> if<00:05:50.820> you<00:05:50.880> give

things are important okay if you give

things are important okay if you give out<00:05:51.240> 700<00:05:51.780> billion<00:05:52.139> pounds<00:05:52.500> you<00:05:52.800> need<00:05:52.979> to<00:05:53.100> know

out 700 billion pounds you need to know

out 700 billion pounds you need to know where<00:05:53.400> that<00:05:53.580> money's<00:05:53.880> gone<00:05:54.000> to<00:05:54.180> okay<00:05:54.419> if

where that money's gone to okay if

where that money's gone to okay if you're<00:05:54.780> giving<00:05:54.960> hundreds<00:05:55.500> of<00:05:55.560> thousands<00:05:55.919> of

you're giving hundreds of thousands of

you're giving hundreds of thousands of pounds<00:05:56.340> to<00:05:56.759> the<00:05:57.000> richest<00:05:57.240> people<00:05:57.360> in<00:05:57.539> the

pounds to the richest people in the

pounds to the richest people in the country<00:05:57.840> you<00:05:58.620> have<00:05:58.740> to<00:05:58.919> expect<00:05:59.160> inflation

country you have to expect inflation

country you have to expect inflation a<00:06:02.100> cost<00:06:02.220> of<00:06:02.400> living<00:06:02.460> Christ<00:06:02.699> for<00:06:02.880> ordinary

a cost of living Christ for ordinary

a cost of living Christ for ordinary people<00:06:03.419> listen<00:06:03.600> we<00:06:03.840> increased<00:06:04.139> inequality<00:06:04.680> at

people listen we increased inequality at

people listen we increased inequality at the<00:06:05.400> fastest<00:06:05.820> rate<00:06:06.060> in<00:06:06.360> the<00:06:06.479> history<00:06:06.539> of<00:06:06.780> this

the fastest rate in the history of this

the fastest rate in the history of this country<00:06:07.080> during<00:06:07.860> a<00:06:08.100> time<00:06:08.160> when<00:06:08.340> the<00:06:08.460> economy

country during a time when the economy

country during a time when the economy was<00:06:08.940> closed<00:06:09.660> you<00:06:10.259> are<00:06:10.380> making<00:06:10.560> ordinary

was closed you are making ordinary

was closed you are making ordinary families<00:06:11.460> poorer<00:06:11.880> that<00:06:12.240> is<00:06:12.360> the<00:06:12.539> cause<00:06:12.660> of

families poorer that is the cause of

families poorer that is the cause of this<00:06:13.020> crisis<00:06:13.340> just<00:06:14.340> to<00:06:14.580> explain<00:06:14.699> you're

this crisis just to explain you're

this crisis just to explain you're talking<00:06:15.180> about<00:06:15.300> hundreds<00:06:15.660> of<00:06:15.720> billions<00:06:15.960> of

talking about hundreds of billions of

talking about hundreds of billions of pounds<00:06:16.380> being<00:06:16.560> handed<00:06:16.919> out<00:06:17.039> during<00:06:17.460> the

pounds being handed out during the

pounds being handed out during the pandemic<00:06:18.120> in<00:06:18.300> part<00:06:18.479> so<00:06:18.660> during<00:06:18.900> the<00:06:19.020> furlough

pandemic in part so during the furlough

pandemic in part so during the furlough scheme<00:06:19.740> the<00:06:19.979> argument<00:06:20.460> from<00:06:20.699> the<00:06:20.880> government

scheme the argument from the government

scheme the argument from the government um<00:06:21.660> and<00:06:21.840> I'll<00:06:21.960> let<00:06:22.139> Nikki<00:06:22.500> and<00:06:22.620> Angela<00:06:22.979> uh<00:06:23.220> in

um and I'll let Nikki and Angela uh in

um and I'll let Nikki and Angela uh in in<00:06:23.520> a<00:06:23.639> moment<00:06:23.759> was<00:06:23.940> that<00:06:24.060> it<00:06:24.180> kept<00:06:24.419> the<00:06:24.539> it<00:06:24.900> kept

in a moment was that it kept the it kept

in a moment was that it kept the it kept people's<00:06:25.620> jobs<00:06:25.800> it<00:06:26.220> paid<00:06:26.340> people's<00:06:26.819> wages

people's jobs it paid people's wages

people's jobs it paid people's wages what<00:06:27.300> were<00:06:27.419> they<00:06:27.539> to<00:06:27.720> do<00:06:27.840> instead

what were they to do instead

what were they to do instead you<00:06:29.639> do<00:06:29.699> the<00:06:29.819> analysis<00:06:30.180> where<00:06:30.360> the<00:06:30.539> money<00:06:30.600> will

you do the analysis where the money will

you do the analysis where the money will end<00:06:30.960> up<00:06:31.020> listen<00:06:31.259> I<00:06:31.860> was<00:06:31.979> there<00:06:32.100> I'm<00:06:32.340> an

end up listen I was there I'm an

end up listen I was there I'm an inequality<00:06:33.060> Economist<00:06:33.360> I<00:06:33.660> wanted<00:06:33.780> to<00:06:33.960> know

inequality Economist I wanted to know

inequality Economist I wanted to know where<00:06:34.139> does<00:06:34.319> it<00:06:34.440> end<00:06:34.560> up<00:06:34.680> okay<00:06:34.800> the<00:06:34.979> money<00:06:35.160> goes

where does it end up okay the money goes

where does it end up okay the money goes to<00:06:35.460> follow<00:06:35.580> the<00:06:35.880> workers<00:06:36.120> it's<00:06:36.300> 14<00:06:36.900> 000<00:06:37.020> pounds

to follow the workers it's 14 000 pounds

to follow the workers it's 14 000 pounds per<00:06:37.440> adult<00:06:37.620> do<00:06:38.039> you<00:06:38.160> think<00:06:38.280> furloughed

per adult do you think furloughed

per adult do you think furloughed workers<00:06:39.000> are<00:06:39.120> 14<00:06:39.539> 000<00:06:39.600> pounds<00:06:39.840> richer<00:06:40.199> they're

workers are 14 000 pounds richer they're

workers are 14 000 pounds richer they're not<00:06:40.680> because<00:06:40.800> they<00:06:40.979> weren't<00:06:41.100> getting<00:06:41.280> their

not because they weren't getting their

not because they weren't getting their wages<00:06:41.699> okay<00:06:42.240> well<00:06:42.479> who's<00:06:42.600> got<00:06:42.780> the<00:06:42.840> wages<00:06:43.080> the

wages okay well who's got the wages the

wages okay well who's got the wages the corporations<00:06:44.160> what<00:06:44.520> were<00:06:44.699> the<00:06:44.819> corporations

corporations what were the corporations

corporations what were the corporations Rich<00:06:45.419> up<00:06:45.720> in<00:06:46.440> general<00:06:46.560> not<00:06:46.860> because<00:06:47.039> they<00:06:47.220> were

Rich up in general not because they were

Rich up in general not because they were closed<00:06:47.639> who's<00:06:48.060> got<00:06:48.300> the<00:06:48.419> money<00:06:48.539> the<00:06:49.020> customers

closed who's got the money the customers

closed who's got the money the customers but<00:06:49.979> not<00:06:50.280> all<00:06:50.400> customers<00:06:50.819> because<00:06:51.060> it<00:06:51.300> was

but not all customers because it was

but not all customers because it was only<00:06:51.660> luxury<00:06:52.199> non-essential<00:06:53.039> spending<00:06:53.340> that

only luxury non-essential spending that

only luxury non-essential spending that stopped<00:06:53.759> during<00:06:53.880> coven<00:06:54.240> Nikki<00:06:54.900> do<00:06:55.020> you<00:06:55.199> want

stopped during coven Nikki do you want

stopped during coven Nikki do you want to<00:06:55.380> uh<00:06:55.740> defend<00:06:56.160> furlough<00:06:56.699> and<00:06:56.880> the<00:06:57.000> decisions

to uh defend furlough and the decisions

to uh defend furlough and the decisions made<00:06:57.660> by<00:06:58.020> the<00:06:58.199> government<00:06:58.380> during<00:06:58.740> that<00:06:58.979> time

made by the government during that time

made by the government during that time of<00:06:59.520> course<00:06:59.639> there<00:07:00.300> are<00:07:00.360> lots<00:07:00.600> of<00:07:00.660> allegations

of course there are lots of allegations

of course there are lots of allegations about<00:07:01.319> billions<00:07:01.860> being<00:07:02.160> wasted<00:07:02.699> I'm<00:07:03.000> not

about billions being wasted I'm not

about billions being wasted I'm not against<00:07:03.300> furlough<00:07:03.840> what<00:07:04.199> I'm<00:07:04.380> against<00:07:04.500> is<00:07:04.860> not

against furlough what I'm against is not

against furlough what I'm against is not analyzing<00:07:05.639> where<00:07:05.759> the<00:07:05.880> money<00:07:06.000> ended<00:07:06.300> up<00:07:06.419> and

analyzing where the money ended up and

analyzing where the money ended up and not<00:07:06.780> doing<00:07:06.960> anything<00:07:07.259> about<00:07:07.620> it<00:07:07.800> accumulating

not doing anything about it accumulating

not doing anything about it accumulating with<00:07:08.400> the<00:07:08.520> richest<00:07:08.699> people<00:07:08.819> well<00:07:09.180> they<00:07:09.360> would

with the richest people well they would

with the richest people well they would say<00:07:09.600> there<00:07:09.660> wasn't<00:07:09.840> enough<00:07:10.080> time<00:07:10.319> to<00:07:10.440> do<00:07:10.560> it

say there wasn't enough time to do it

say there wasn't enough time to do it but<00:07:10.800> Nikki

but Nikki

but Nikki there<00:07:12.600> is<00:07:12.780> an<00:07:12.960> increase<00:07:13.139> in<00:07:14.039> the<00:07:14.280> more<00:07:14.400> the

there is an increase in the more the

there is an increase in the more the wealthy<00:07:15.180> paying<00:07:15.660> more<00:07:15.960> taxes<00:07:16.400> I<00:07:17.400> pay<00:07:17.580> tax<00:07:17.759> I

wealthy paying more taxes I pay tax I

wealthy paying more taxes I pay tax I pay<00:07:18.539> yeah<00:07:19.020> exactly<00:07:19.259> where<00:07:19.500> can<00:07:19.680> people<00:07:19.800> pay

pay yeah exactly where can people pay

pay yeah exactly where can people pay taxes<00:07:20.340> the<00:07:20.520> wealthiest<00:07:20.819> people<00:07:21.000> don't<00:07:21.240> pay

taxes the wealthiest people don't pay

taxes the wealthiest people don't pay tax<00:07:21.660> they've<00:07:22.139> been<00:07:22.259> much<00:07:22.440> much<00:07:22.620> lower<00:07:22.800> rates

tax they've been much much lower rates

tax they've been much much lower rates of<00:07:23.280> tax<00:07:23.400> right<00:07:23.639> and<00:07:23.759> why<00:07:24.000> is<00:07:24.120> that<00:07:24.300> is<00:07:24.539> that

of tax right and why is that is that

of tax right and why is that is that because<00:07:24.840> they<00:07:25.139> can<00:07:25.319> afford<00:07:25.680> to<00:07:26.039> move<00:07:26.400> their

because they can afford to move their

because they can afford to move their money<00:07:26.819> elsewhere<00:07:27.300> is<00:07:27.720> it<00:07:27.840> because<00:07:27.960> they<00:07:28.199> can

money elsewhere is it because they can

money elsewhere is it because they can afford<00:07:28.620> to<00:07:28.800> leave<00:07:28.979> the<00:07:29.220> country<00:07:29.460> you<00:07:30.000> know

afford to leave the country you know

afford to leave the country you know what<00:07:30.240> I<00:07:30.479> might<00:07:30.660> question<00:07:31.020> it's<00:07:31.380> partially

what I might question it's partially

what I might question it's partially because<00:07:31.860> we<00:07:32.039> have<00:07:32.220> a<00:07:32.280> prime<00:07:32.400> minister<00:07:32.639> whose

because we have a prime minister whose

because we have a prime minister whose father<00:07:33.060> know<00:07:33.240> is<00:07:33.360> one<00:07:33.479> of<00:07:33.539> the<00:07:33.539> richest<00:07:33.780> men<00:07:33.900> in

father know is one of the richest men in

father know is one of the richest men in the<00:07:34.139> world<00:07:34.199> we<00:07:34.500> have<00:07:34.620> a<00:07:34.680> previous<00:07:34.800> prime

the world we have a previous prime

the world we have a previous prime minister<00:07:35.340> who<00:07:35.400> wanted<00:07:35.580> to<00:07:35.759> make<00:07:35.819> millions<00:07:36.060> of

minister who wanted to make millions of

minister who wanted to make millions of pounds<00:07:36.419> as<00:07:36.539> soon<00:07:36.599> as<00:07:36.720> he<00:07:36.780> left<00:07:36.900> office<00:07:37.080> they've

pounds as soon as he left office they've

pounds as soon as he left office they've come<00:07:37.800> and<00:07:37.919> made<00:07:38.039> 10<00:07:38.220> million<00:07:38.460> pounds<00:07:38.699> in<00:07:38.759> a

come and made 10 million pounds in a

come and made 10 million pounds in a year<00:07:38.940> of<00:07:39.060> leaving<00:07:39.180> office<00:07:39.419> if<00:07:40.080> you<00:07:40.319> put<00:07:40.560> tax

year of leaving office if you put tax

year of leaving office if you put tax decisions<00:07:41.220> in<00:07:41.880> the<00:07:41.940> hands<00:07:42.300> of<00:07:42.720> people<00:07:42.840> who<00:07:43.139> are

decisions in the hands of people who are

decisions in the hands of people who are extremely<00:07:43.620> rich<00:07:43.800> or<00:07:44.039> about<00:07:44.220> to<00:07:44.400> become

extremely rich or about to become

extremely rich or about to become extremely<00:07:45.060> rich<00:07:45.300> do<00:07:46.020> you<00:07:46.199> think<00:07:46.500> they<00:07:46.919> will

extremely rich do you think they will

extremely rich do you think they will say<00:07:47.280> Lex<00:07:47.699> that's<00:07:48.000> extremely<00:07:48.360> rich<00:07:48.539> people<00:07:48.780> all

say Lex that's extremely rich people all

say Lex that's extremely rich people all right<00:07:49.199> Nikki<00:07:49.620> I<00:07:50.039> think<00:07:50.160> that's<00:07:50.280> a<00:07:50.460> cheap<00:07:50.880> shot

right Nikki I think that's a cheap shot

right Nikki I think that's a cheap shot keep<00:07:51.419> keep<00:07:51.840> throwing<00:07:52.199> at<00:07:52.319> the<00:07:52.440> Prime<00:07:52.560> Minister

keep keep throwing at the Prime Minister

keep keep throwing at the Prime Minister you<00:07:53.160> know<00:07:53.280> he<00:07:53.580> comes<00:07:53.819> from<00:07:53.880> the<00:07:54.060> background<00:07:54.300> he

you know he comes from the background he

you know he comes from the background he comes<00:07:54.660> from<00:07:54.780> he's<00:07:55.139> worked<00:07:55.440> hard<00:07:55.560> like<00:07:55.919> you<00:07:56.099> in

comes from he's worked hard like you in

comes from he's worked hard like you in the<00:07:56.520> city<00:07:56.699> and<00:07:57.300> you<00:07:57.479> know<00:07:57.599> he's<00:07:57.780> made<00:07:58.440> his

the city and you know he's made his

the city and you know he's made his contribution<00:07:58.919> and<00:07:59.160> he's<00:07:59.340> presiding<00:07:59.759> over

contribution and he's presiding over

contribution and he's presiding over there

I'm<00:08:08.639> a<00:08:08.819> low<00:08:09.000> tax<00:08:09.180> small<00:08:09.960> state<00:08:10.139> conservative

I'm a low tax small state conservative

I'm a low tax small state conservative and<00:08:11.099> I<00:08:11.280> want<00:08:11.580> to<00:08:11.699> see<00:08:11.880> tax<00:08:12.120> cuts<00:08:12.539> and<00:08:12.660> you<00:08:12.840> know

and I want to see tax cuts and you know

and I want to see tax cuts and you know and<00:08:13.199> I'm<00:08:13.440> not<00:08:13.800> coming<00:08:13.979> are<00:08:14.220> they<00:08:14.400> well<00:08:14.580> let's

and I'm not coming are they well let's

and I'm not coming are they well let's see<00:08:14.880> what's<00:08:15.000> happened<00:08:15.180> let's<00:08:15.539> look<00:08:15.840> let's<00:08:16.139> see

see what's happened let's look let's see

see what's happened let's look let's see what<00:08:16.440> happens<00:08:16.560> in<00:08:16.740> the<00:08:16.860> budget<00:08:17.039> let's<00:08:17.160> see

what happens in the budget let's see

what happens in the budget let's see what<00:08:17.460> happens<00:08:17.580> in<00:08:17.819> the<00:08:17.940> next<00:08:18.060> budget<00:08:18.419> no<00:08:18.720> we've

what happens in the next budget no we've

what happens in the next budget no we've got<00:08:19.199> we've<00:08:19.560> we've<00:08:19.919> got<00:08:20.039> we've<00:08:20.400> got<00:08:20.580> to<00:08:20.699> we've

got we've we've got we've got to we've

got we've we've got we've got to we've got<00:08:21.479> to<00:08:21.660> move<00:08:22.440> the<00:08:22.860> move<00:08:23.759> our<00:08:24.060> growth<00:08:24.599> agenda

got to move the move our growth agenda

got to move the move our growth agenda on<00:08:25.139> of<00:08:25.379> course<00:08:25.500> but<00:08:25.860> we've<00:08:26.099> also<00:08:26.340> got<00:08:26.520> to

on of course but we've also got to

on of course but we've also got to ensure<00:08:26.940> that<00:08:27.060> we<00:08:27.240> pay<00:08:27.479> for<00:08:27.900> covert<00:08:28.319> we<00:08:28.620> pay<00:08:28.800> for

ensure that we pay for covert we pay for

ensure that we pay for covert we pay for the<00:08:29.099> cost<00:08:29.220> of<00:08:29.340> living<00:08:29.520> and<00:08:29.819> we<00:08:29.940> ensure<00:08:30.240> that<00:08:30.419> we

the cost of living and we ensure that we

the cost of living and we ensure that we pay<00:08:31.139> for<00:08:31.379> the<00:08:31.560> war<00:08:31.800> that's<00:08:32.039> in<00:08:32.219> Ukraine<00:08:32.640> what

pay for the war that's in Ukraine what

pay for the war that's in Ukraine what do<00:08:33.000> you<00:08:33.120> say<00:08:33.180> to<00:08:33.360> James<00:08:33.539> Dyson<00:08:34.020> I<00:08:34.260> mean<00:08:34.380> he<00:08:34.500> is<00:08:34.680> a

do you say to James Dyson I mean he is a

do you say to James Dyson I mean he is a wealth<00:08:35.039> Creator<00:08:35.459> he<00:08:35.820> would<00:08:36.000> say

wealth Creator he would say

wealth Creator he would say um<00:08:36.779> and<00:08:36.899> he<00:08:37.080> doesn't<00:08:37.200> want<00:08:37.380> regulation<00:08:37.979> and

um and he doesn't want regulation and

um and he doesn't want regulation and high<00:08:38.580> taxes<00:08:39.060> in<00:08:39.360> order<00:08:39.479> to<00:08:39.659> create<00:08:39.899> jobs<00:08:40.200> and

high taxes in order to create jobs and

high taxes in order to create jobs and pay<00:08:40.680> those<00:08:40.919> people<00:08:41.159> well<00:08:41.700> I've<00:08:41.880> never<00:08:42.060> met

pay those people well I've never met

pay those people well I've never met James<00:08:42.419> Dyson<00:08:42.719> he<00:08:42.899> might<00:08:43.020> be<00:08:43.140> a<00:08:43.200> very<00:08:43.320> nice<00:08:43.440> he's

James Dyson he might be a very nice he's

James Dyson he might be a very nice he's a<00:08:44.339> very<00:08:44.459> wealthy<00:08:44.820> person<00:08:45.000> and<00:08:45.240> he<00:08:45.420> doesn't

a very wealthy person and he doesn't

a very wealthy person and he doesn't want<00:08:45.899> tax<00:08:46.020> on<00:08:46.200> the<00:08:46.380> very<00:08:46.440> wealthy<00:08:46.800> I<00:08:47.040> don't

want tax on the very wealthy I don't

want tax on the very wealthy I don't think<00:08:47.279> I<00:08:47.459> need<00:08:47.580> to<00:08:47.640> say<00:08:47.760> more<00:08:47.880> than<00:08:48.060> that<00:08:48.240> but

think I need to say more than that but

think I need to say more than that but what<00:08:48.720> I'm<00:08:48.899> saying<00:08:49.080> is<00:08:49.200> what<00:08:49.380> I'm<00:08:49.440> seeing<00:08:49.680> from

what I'm saying is what I'm seeing from

what I'm saying is what I'm seeing from this<00:08:49.920> discussion<00:08:50.339> is<00:08:50.820> a<00:08:51.000> government<00:08:51.120> that's

this discussion is a government that's

this discussion is a government that's giving<00:08:51.480> out<00:08:51.660> 700<00:08:52.080> billion<00:08:52.380> pounds<00:08:52.620> and<00:08:52.740> has

giving out 700 billion pounds and has

giving out 700 billion pounds and has done<00:08:53.160> no<00:08:53.399> analysis<00:08:53.820> well<00:08:54.420> you've<00:08:54.600> said<00:08:54.720> that

done no analysis well you've said that

done no analysis well you've said that but<00:08:55.019> you<00:08:55.800> don't<00:08:55.920> even<00:08:56.040> know<00:08:56.160> who's<00:08:56.279> got<00:08:56.519> the

but you don't even know who's got the

but you don't even know who's got the money<00:08:56.760> now<00:08:56.940> but<00:08:57.180> you<00:08:57.420> left<00:08:57.540> your<00:08:58.019> job<00:08:58.200> in<00:08:58.440> the

money now but you left your job in the

money now but you left your job in the city<00:08:58.680> trading<00:08:59.160> in<00:08:59.279> 2014.<00:08:59.940> more<00:09:00.360> broadly

city trading in 2014. more broadly

city trading in 2014. more broadly speaking<00:09:00.959> what<00:09:01.140> is<00:09:01.320> the<00:09:01.440> answer<00:09:01.560> what<00:09:01.860> are<00:09:01.980> the

speaking what is the answer what are the

speaking what is the answer what are the policies<00:09:02.459> that<00:09:02.700> either<00:09:02.880> labor<00:09:03.240> or

policies that either labor or

policies that either labor or conservatives<00:09:03.899> could<00:09:04.200> do<00:09:04.380> that<00:09:05.279> would

conservatives could do that would

conservatives could do that would actually<00:09:05.760> bring<00:09:06.360> back<00:09:06.660> some<00:09:06.899> of<00:09:07.019> the<00:09:07.140> way

actually bring back some of the way

actually bring back some of the way wealth<00:09:07.980> from<00:09:08.279> the<00:09:08.640> super<00:09:08.820> rich<00:09:09.120> if<00:09:09.959> we're

wealth from the super rich if we're

wealth from the super rich if we're going<00:09:10.260> to<00:09:10.380> call<00:09:10.560> them<00:09:10.740> that<00:09:10.920> and<00:09:11.279> redistribute

going to call them that and redistribute

going to call them that and redistribute it<00:09:12.120> there<00:09:12.660> are<00:09:12.839> some<00:09:12.959> low-hanging<00:09:13.500> fruit

it there are some low-hanging fruit

it there are some low-hanging fruit which<00:09:13.860> should<00:09:13.920> obviously<00:09:14.220> be<00:09:14.339> done<00:09:14.519> you

which should obviously be done you

which should obviously be done you should<00:09:15.300> equate<00:09:15.720> capital<00:09:15.899> gains<00:09:16.380> with<00:09:16.500> income

should equate capital gains with income

should equate capital gains with income tax<00:09:16.920> there's<00:09:17.160> no<00:09:17.339> reason<00:09:17.459> why<00:09:17.700> the<00:09:17.820> wealthy

tax there's no reason why the wealthy

tax there's no reason why the wealthy Pay<00:09:18.240> Less<00:09:18.420> on<00:09:18.779> that<00:09:18.899> on<00:09:19.080> that<00:09:19.260> rate<00:09:19.440> you<00:09:20.040> should

Pay Less on that on that rate you should

Pay Less on that on that rate you should close<00:09:20.339> the<00:09:20.459> loopholes<00:09:20.940> obviously<00:09:21.420> but<00:09:22.140> you

close the loopholes obviously but you

close the loopholes obviously but you need<00:09:22.380> to<00:09:22.500> bring<00:09:22.620> in<00:09:22.800> something<00:09:23.040> that<00:09:23.339> will

need to bring in something that will

need to bring in something that will transfer<00:09:24.000> that<00:09:24.060> wealth<00:09:24.300> back<00:09:24.480> if<00:09:24.720> you<00:09:24.899> do<00:09:25.019> not

transfer that wealth back if you do not

transfer that wealth back if you do not if<00:09:25.320> you're<00:09:25.440> willing<00:09:25.740> to<00:09:25.800> give<00:09:25.920> 700<00:09:26.279> billion

if you're willing to give 700 billion

if you're willing to give 700 billion pounds<00:09:26.760> to<00:09:26.820> riches<00:09:27.180> and<00:09:27.360> do<00:09:27.480> nothing<00:09:27.600> to<00:09:27.839> bring

pounds to riches and do nothing to bring

pounds to riches and do nothing to bring it<00:09:28.080> back<00:09:28.260> then<00:09:28.980> ordinary<00:09:29.459> families<00:09:29.760> pay<00:09:29.940> the

it back then ordinary families pay the

it back then ordinary families pay the price<00:09:30.240> so<00:09:30.720> you<00:09:30.839> need<00:09:30.959> to<00:09:31.080> bring<00:09:31.260> in<00:09:31.440> serious

price so you need to bring in serious

price so you need to bring in serious moves<00:09:32.100> to<00:09:32.220> read<00:09:32.519> this<00:09:32.700> you've<00:09:33.060> got<00:09:33.120> to<00:09:33.300> deal

moves to read this you've got to deal

moves to read this you've got to deal with<00:09:33.600> offshore<00:09:34.200> tax<00:09:34.740> evasions<00:09:35.279> you've<00:09:35.580> got<00:09:35.700> to

with offshore tax evasions you've got to

with offshore tax evasions you've got to deal<00:09:36.000> with<00:09:36.300> these<00:09:36.600> packages<00:09:37.019> of<00:09:37.459> offshore

deal with these packages of offshore

deal with these packages of offshore companies<00:09:39.120> that<00:09:39.660> allow<00:09:39.899> people<00:09:40.080> to<00:09:40.320> export

companies that allow people to export

companies that allow people to export their<00:09:40.980> money<00:09:41.160> and<00:09:41.399> avoid<00:09:41.640> paying<00:09:42.000> taxes

their money and avoid paying taxes

their money and avoid paying taxes you've<00:09:42.540> got<00:09:42.660> to<00:09:42.839> deal<00:09:43.080> with<00:09:43.920> profit<00:09:44.279> shifting

you've got to deal with profit shifting

you've got to deal with profit shifting in<00:09:45.060> global<00:09:45.420> multinational<00:09:45.839> corporations

in global multinational corporations

in global multinational corporations some<00:09:46.980> of<00:09:47.100> this<00:09:47.220> has<00:09:47.399> got<00:09:47.580> to<00:09:47.760> be<00:09:47.940> done<00:09:48.120> by

some of this has got to be done by

some of this has got to be done by International<00:09:49.019> agreement<00:09:49.680> but<00:09:50.100> the<00:09:50.640> fact<00:09:50.820> is

International agreement but the fact is

International agreement but the fact is as<00:09:51.899> Thomas<00:09:52.140> picketty<00:09:52.920> The<00:09:53.160> Economist<00:09:53.820> says

as Thomas picketty The Economist says

as Thomas picketty The Economist says we're<00:09:54.300> now<00:09:54.480> in<00:09:54.660> a<00:09:54.779> situation<00:09:55.080> where<00:09:55.500> the

we're now in a situation where the

we're now in a situation where the wealthy<00:09:56.220> are<00:09:56.640> going<00:09:56.760> to<00:09:56.880> get<00:09:57.060> more<00:09:57.300> and<00:09:57.480> more

wealthy are going to get more and more

wealthy are going to get more and more wealthy<00:09:58.140> and<00:09:58.740> wealth<00:09:59.399> is<00:09:59.519> actually<00:09:59.700> going<00:10:00.000> to

wealthy and wealth is actually going to

wealthy and wealth is actually going to accumulate<00:10:01.320> without<00:10:02.040> stopping<00:10:02.580> because

accumulate without stopping because

accumulate without stopping because growth<00:10:03.300> levels<00:10:03.779> are<00:10:03.899> lower<00:10:04.140> than<00:10:04.380> the<00:10:04.560> amount

growth levels are lower than the amount

growth levels are lower than the amount of<00:10:04.920> money<00:10:05.100> you<00:10:05.459> can<00:10:05.519> get<00:10:06.000> on<00:10:06.240> on<00:10:06.480> on

of money you can get on on on

of money you can get on on on on<00:10:07.740> your<00:10:07.980> wealth<00:10:08.339> in<00:10:08.519> interest<00:10:08.760> and<00:10:09.480> it's

on your wealth in interest and it's

on your wealth in interest and it's happening<00:10:09.899> is<00:10:10.260> that<00:10:10.500> the<00:10:10.860> billionaires<00:10:11.580> index

happening is that the billionaires index

happening is that the billionaires index the<00:10:12.480> Bloomberg<00:10:12.959> billionaires<00:10:13.620> index<00:10:13.920> has<00:10:14.399> to

the Bloomberg billionaires index has to

the Bloomberg billionaires index has to be<00:10:14.700> updated<00:10:15.120> every<00:10:15.540> day<00:10:15.779> well<00:10:16.140> I<00:10:16.320> mean

be updated every day well I mean

be updated every day well I mean Annabelle<00:10:16.800> isn't<00:10:17.040> there<00:10:17.160> before

Annabelle isn't there before

Annabelle isn't there before billionaires<00:10:18.240> wealth<00:10:18.540> is<00:10:18.720> rising<00:10:19.260> so<00:10:19.440> much

billionaires wealth is rising so much

billionaires wealth is rising so much it's<00:10:19.860> obscene<00:10:20.519> and<00:10:21.240> we<00:10:21.360> need<00:10:21.540> to<00:10:21.720> as<00:10:21.959> an<00:10:22.200> Global

it's obscene and we need to as an Global

it's obscene and we need to as an Global International<00:10:23.339> Community<00:10:24.019> of<00:10:25.019> of<00:10:25.260> of

International Community of of of

International Community of of of politicians<00:10:27.240> and<00:10:27.779> economists<00:10:28.380> do<00:10:28.620> something

politicians and economists do something

politicians and economists do something about<00:10:29.100> it<00:10:29.279> right

if<00:10:33.300> the<00:10:33.540> lives<00:10:33.779> of<00:10:33.899> the<00:10:34.080> poorest<00:10:34.320> are<00:10:34.680> being

if the lives of the poorest are being

if the lives of the poorest are being improved<00:10:35.700> continually<00:10:36.300> improved

improved continually improved

improved continually improved um<00:10:37.860> then<00:10:38.220> even<00:10:38.399> if<00:10:38.700> the<00:10:38.940> the<00:10:39.180> super<00:10:39.360> rich<00:10:39.540> are

um then even if the the super rich are

um then even if the the super rich are getting<00:10:39.959> richer<00:10:40.500> you're<00:10:41.459> still<00:10:41.640> seeing

getting richer you're still seeing

getting richer you're still seeing improvements<00:10:42.420> in<00:10:42.540> the<00:10:42.720> quality<00:10:42.959> of<00:10:43.080> life<00:10:43.200> of

improvements in the quality of life of

improvements in the quality of life of the<00:10:43.500> poorest<00:10:43.800> in<00:10:43.920> society<00:10:44.839> this<00:10:45.839> is<00:10:45.899> not<00:10:46.019> about

the poorest in society this is not about

the poorest in society this is not about inequality<00:10:46.680> this<00:10:47.220> is<00:10:47.339> about<00:10:47.459> living

inequality this is about living

inequality this is about living standards<00:10:48.540> of<00:10:48.720> the<00:10:48.899> ordinary<00:10:49.320> people<00:10:49.560> of<00:10:49.740> this

standards of the ordinary people of this

standards of the ordinary people of this country<00:10:50.040> if<00:10:50.700> you<00:10:50.820> give<00:10:51.060> 700<00:10:51.779> billion<00:10:52.260> pounds

country if you give 700 billion pounds

country if you give 700 billion pounds to<00:10:52.620> the<00:10:52.860> richest<00:10:53.100> people<00:10:53.220> in<00:10:53.399> the<00:10:53.519> country

to the richest people in the country

to the richest people in the country when<00:10:53.880> the<00:10:54.060> economy<00:10:54.420> is<00:10:54.660> closed<00:10:55.019> they<00:10:55.500> will

when the economy is closed they will

when the economy is closed they will spend<00:10:55.980> that<00:10:56.160> money<00:10:56.339> drive<00:10:56.940> up<00:10:57.180> prices<00:10:57.420> and

spend that money drive up prices and

spend that money drive up prices and ordinary<00:10:58.560> families<00:10:59.040> increasingly<00:10:59.640> will<00:10:59.880> not

ordinary families increasingly will not

ordinary families increasingly will not be<00:11:00.120> able<00:11:00.240> to<00:11:00.300> afford<00:11:00.600> the<00:11:00.779> basics<00:11:01.140> like<00:11:01.440> food

be able to afford the basics like food

be able to afford the basics like food and<00:11:01.980> energy<00:11:02.160> listen<00:11:02.579> if<00:11:03.060> you<00:11:03.180> give<00:11:03.360> this<00:11:03.540> money

and energy listen if you give this money

and energy listen if you give this money to<00:11:03.959> the<00:11:04.079> rich<00:11:04.260> it<00:11:04.980> affects<00:11:05.339> Ordinary<00:11:06.180> People

to the rich it affects Ordinary People

to the rich it affects Ordinary People so<00:11:07.560> what<00:11:07.740> is<00:11:07.920> your<00:11:08.160> solution

so what is your solution

so what is your solution a<00:11:09.420> wealth<00:11:09.720> tax<00:11:09.839> in<00:11:10.140> full<00:11:10.320> spending<00:11:10.680> listen<00:11:10.800> do

a wealth tax in full spending listen do

a wealth tax in full spending listen do you<00:11:11.279> not<00:11:11.399> accept<00:11:11.519> that<00:11:11.820> all<00:11:12.120> of<00:11:12.240> the<00:11:12.420> downsides

you not accept that all of the downsides

you not accept that all of the downsides to<00:11:12.959> wealth<00:11:13.200> taxes<00:11:13.500> the<00:11:13.620> fact<00:11:13.740> that<00:11:13.860> they're

to wealth taxes the fact that they're

to wealth taxes the fact that they're almost<00:11:14.339> everywhere<00:11:14.880> that<00:11:15.060> they've<00:11:15.180> been

almost everywhere that they've been

almost everywhere that they've been tried<00:11:15.600> they've<00:11:15.839> specifically<00:11:16.320> you're

tried they've specifically you're

tried they've specifically you're talking<00:11:16.860> to<00:11:17.100> somebody<00:11:17.279> who<00:11:17.820> has<00:11:17.940> made

talking to somebody who has made

talking to somebody who has made millions<00:11:18.420> of<00:11:18.540> pounds<00:11:18.839> by<00:11:19.019> betting<00:11:19.320> that<00:11:19.380> the

millions of pounds by betting that the

millions of pounds by betting that the economy<00:11:19.800> will<00:11:19.980> collapse<00:11:20.279> every<00:11:20.579> single<00:11:20.820> year

economy will collapse every single year

economy will collapse every single year okay<00:11:21.180> and<00:11:21.420> I'm<00:11:21.600> betting<00:11:21.899> on<00:11:21.959> that<00:11:22.079> right<00:11:22.380> now

okay and I'm betting on that right now

okay and I'm betting on that right now and<00:11:22.860> I<00:11:23.040> don't<00:11:23.100> want<00:11:23.279> it<00:11:23.399> to<00:11:23.459> happen<00:11:23.640> if<00:11:24.120> you<00:11:24.240> do

and I don't want it to happen if you do

and I don't want it to happen if you do nothing<00:11:24.660> about<00:11:25.200> growing<00:11:25.620> inequality<00:11:26.160> if<00:11:26.579> you

nothing about growing inequality if you

nothing about growing inequality if you don't<00:11:26.820> do<00:11:27.000> anything<00:11:27.180> about<00:11:27.420> growing

don't do anything about growing

don't do anything about growing inequality<00:11:28.200> poverty<00:11:28.800> will<00:11:28.980> get<00:11:29.100> worse<00:11:29.339> and

inequality poverty will get worse and

inequality poverty will get worse and worse<00:11:29.700> and<00:11:29.820> worse<00:11:30.000> they're<00:11:30.180> not<00:11:30.300> telling<00:11:30.480> you

worse and worse they're not telling you

worse and worse they're not telling you now<00:11:30.660> listen<00:11:30.899> all<00:11:31.260> right<00:11:31.380> in<00:11:31.560> a<00:11:31.680> few<00:11:31.740> years<00:11:31.860> time

now listen all right in a few years time

now listen all right in a few years time when<00:11:32.220> it<00:11:32.339> happens<00:11:32.459> when<00:11:32.940> things<00:11:33.120> are<00:11:33.300> worse

when it happens when things are worse

when it happens when things are worse remember<00:11:34.019> this<00:11:34.380> day<00:11:34.560> it's<00:11:34.860> not<00:11:35.040> and<00:11:35.279> you<00:11:35.399> can't

remember this day it's not and you can't

remember this day it's not and you can't say<00:11:35.700> you<00:11:35.820> didn't<00:11:35.940> know<00:11:36.060> about<00:11:36.180> sustainable<00:11:36.720> to

say you didn't know about sustainable to

say you didn't know about sustainable to run<00:11:37.560> a<00:11:37.920> global<00:11:38.220> economy<00:11:38.700> with<00:11:39.120> this<00:11:39.300> level<00:11:39.480> of

run a global economy with this level of

run a global economy with this level of inequality<00:11:40.860> it's<00:11:41.459> not<00:11:41.640> economically

inequality it's not economically

inequality it's not economically sustainable<00:11:43.019> because<00:11:43.380> there<00:11:44.220> aren't<00:11:44.339> enough

sustainable because there aren't enough

sustainable because there aren't enough consumers<00:11:45.120> with<00:11:45.480> enough<00:11:45.660> money<00:11:46.079> to<00:11:46.560> make<00:11:46.740> the

consumers with enough money to make the

consumers with enough money to make the economy<00:11:47.459> work<00:11:48.240> so<00:11:48.779> it's<00:11:49.019> not<00:11:49.200> fair<00:11:49.560> in<00:11:49.860> any<00:11:50.040> way

at<00:11:56.160> the<00:11:56.339> facts<00:11:56.760> we<00:11:57.360> have<00:11:57.540> come<00:11:57.839> through<00:11:58.079> a<00:11:58.980> a

at the facts we have come through a a

at the facts we have come through a a pandemic<00:12:00.060> when<00:12:00.420> we<00:12:00.540> spent<00:12:00.839> 400<00:12:01.620> billion

pandemic when we spent 400 billion

pandemic when we spent 400 billion pounds<00:12:02.399> I<00:12:02.700> do<00:12:02.820> not<00:12:03.000> think<00:12:03.120> we<00:12:03.360> should<00:12:03.480> allow

pounds I do not think we should allow

pounds I do not think we should allow our<00:12:04.079> children<00:12:04.320> and<00:12:04.560> our<00:12:04.740> grandchildren<00:12:05.220> to

our children and our grandchildren to

our children and our grandchildren to pay<00:12:05.760> that<00:12:06.120> debt<00:12:06.480> and<00:12:07.140> we've<00:12:07.380> now<00:12:07.500> got<00:12:07.680> a<00:12:07.800> cost

pay that debt and we've now got a cost

pay that debt and we've now got a cost of<00:12:08.160> living<00:12:08.279> crisis<00:12:08.640> basically<00:12:09.420> because<00:12:09.660> of

of living crisis basically because of

of living crisis basically because of the<00:12:10.200> energy<00:12:10.320> crisis<00:12:10.860> and<00:12:11.279> the<00:12:11.640> government<00:12:11.760> has

the energy crisis and the government has

the energy crisis and the government has put<00:12:12.300> billions<00:12:13.260> of<00:12:13.440> pounds<00:12:13.740> into<00:12:13.980> supporting

put billions of pounds into supporting

put billions of pounds into supporting particularly<00:12:14.820> the<00:12:14.940> most<00:12:15.060> vulnerable<00:12:15.420> over

particularly the most vulnerable over

particularly the most vulnerable over the<00:12:16.260> over<00:12:17.040> now<00:12:17.220> over<00:12:17.579> the<00:12:18.000> last<00:12:18.120> few<00:12:18.300> months

the over now over the last few months

the over now over the last few months and<00:12:18.779> moving<00:12:19.140> forward<00:12:19.260> but<00:12:19.920> I<00:12:20.399> think<00:12:20.579> about

and moving forward but I think about

and moving forward but I think about wealth<00:12:21.120> tax<00:12:21.240> we<00:12:21.660> should<00:12:21.839> not<00:12:22.079> be<00:12:22.380> creating

wealth tax we should not be creating

wealth tax we should not be creating more<00:12:22.980> tax<00:12:23.220> we<00:12:23.519> should<00:12:23.640> be<00:12:23.760> cutting<00:12:24.060> so<00:12:24.180> all

more tax we should be cutting so all

more tax we should be cutting so all right<00:12:24.540> well<00:12:24.660> you're<00:12:24.839> very<00:12:25.019> clear<00:12:25.140> on<00:12:25.260> that

right well you're very clear on that

right well you're very clear on that we're<00:12:25.500> going<00:12:25.620> to<00:12:25.740> talk<00:12:25.800> about<00:12:25.920> something<00:12:26.220> else

we're going to talk about something else

we're going to talk about something else which<00:12:26.760> is<00:12:26.940> sort<00:12:27.300> of<00:12:27.420> related<00:12:28.019> leveling<00:12:28.620> up

which is sort of related leveling up

which is sort of related leveling up it's<00:12:29.279> the<00:12:29.459> great<00:12:29.640> Mantra<00:12:30.180> of<00:12:30.540> uh<00:12:30.720> Boris

it's the great Mantra of uh Boris

it's the great Mantra of uh Boris Johnson<00:12:31.320> and<00:12:31.860> continues<00:12:32.399> under<00:12:32.760> Rishi<00:12:33.360> soon

Johnson and continues under Rishi soon

Johnson and continues under Rishi soon now<00:12:33.779> more<00:12:34.019> than<00:12:34.140> 100<00:12:34.320> schemes<00:12:34.860> it's<00:12:34.980> been

now more than 100 schemes it's been

now more than 100 schemes it's been announced<00:12:35.459> today<00:12:35.640> have<00:12:36.180> won<00:12:36.480> Government

announced today have won Government

announced today have won Government funding<00:12:37.620> in<00:12:37.920> the<00:12:38.040> second<00:12:38.160> phase<00:12:38.579> of<00:12:38.820> the

funding in the second phase of the

funding in the second phase of the leveling<00:12:39.240> up<00:12:39.360> fund<00:12:39.779> it's<00:12:39.959> worth<00:12:40.200> about<00:12:40.380> 2.1

leveling up fund it's worth about 2.1

leveling up fund it's worth about 2.1 billion<00:12:41.519> pounds<00:12:41.880> it's<00:12:42.120> not<00:12:42.720> an<00:12:42.959> insignificant

billion pounds it's not an insignificant

billion pounds it's not an insignificant amount<00:12:43.740> of<00:12:43.860> money<00:12:43.980> let's<00:12:44.160> give<00:12:44.339> you<00:12:44.459> an<00:12:44.579> idea

amount of money let's give you an idea

amount of money let's give you an idea about<00:12:45.000> how<00:12:45.360> how<00:12:45.720> it's<00:12:45.959> going<00:12:46.139> to<00:12:46.200> be<00:12:46.320> spent

about how how it's going to be spent

about how how it's going to be spent some<00:12:46.920> of<00:12:47.040> it

so<00:12:51.839> openly<00:12:52.380> boasted<00:12:52.800> about<00:12:52.980> taking<00:12:53.760> money<00:12:54.000> off

so openly boasted about taking money off

so openly boasted about taking money off labor<00:12:54.600> held<00:12:54.959> errors<00:12:55.260> and<00:12:55.380> giving<00:12:55.500> them<00:12:55.680> to

labor held errors and giving them to

labor held errors and giving them to talk<00:12:55.980> he<00:12:56.220> did<00:12:56.339> in<00:12:56.519> a<00:12:56.579> video<00:12:56.700> he<00:12:56.940> said<00:12:57.060> that

talk he did in a video he said that

talk he did in a video he said that there<00:12:57.540> are<00:12:57.660> poorer<00:12:58.019> areas<00:12:58.440> in<00:12:58.800> parts<00:12:58.980> of<00:12:59.220> the

there are poorer areas in parts of the

there are poorer areas in parts of the country<00:12:59.519> that<00:12:59.940> are<00:13:00.060> broadly<00:13:00.420> affluent<00:13:00.899> but

country that are broadly affluent but

country that are broadly affluent but even<00:13:01.500> in<00:13:01.800> the<00:13:01.920> Southeast<00:13:02.279> there<00:13:02.820> are<00:13:03.000> poorer

even in the Southeast there are poorer

even in the Southeast there are poorer uh<00:13:03.959> poorer<00:13:04.380> areas<00:13:04.740> that<00:13:04.980> need<00:13:05.100> funding<00:13:05.519> is<00:13:05.700> it

uh poorer areas that need funding is it

uh poorer areas that need funding is it a<00:13:05.880> good<00:13:06.000> idea<00:13:06.240> is<00:13:06.420> this<00:13:06.600> going<00:13:06.720> to<00:13:06.839> transform

a good idea is this going to transform

a good idea is this going to transform people's<00:13:07.620> lives<00:13:07.920> in<00:13:08.100> these<00:13:08.279> areas

people's lives in these areas

people's lives in these areas well<00:13:09.660> I<00:13:09.779> mean<00:13:09.899> if<00:13:10.019> I<00:13:10.200> take<00:13:10.320> 15<00:13:10.680> part<00:13:11.100> of<00:13:11.279> you<00:13:11.399> and

well I mean if I take 15 part of you and

well I mean if I take 15 part of you and then<00:13:11.639> give<00:13:11.820> you<00:13:11.880> two<00:13:12.000> pound<00:13:12.120> 80<00:13:12.420> is<00:13:12.720> that<00:13:12.839> going

then give you two pound 80 is that going

then give you two pound 80 is that going to<00:13:13.079> transform<00:13:13.320> your<00:13:13.560> life

to transform your life

to transform your life these<00:13:15.000> guys<00:13:15.180> they've<00:13:15.600> found<00:13:15.779> 2.8<00:13:16.260> billion

these guys they've found 2.8 billion

these guys they've found 2.8 billion pounds<00:13:16.860> to<00:13:17.279> give<00:13:17.399> to<00:13:17.639> local<00:13:17.820> councils<00:13:18.420> in<00:13:18.959> the

pounds to give to local councils in the

pounds to give to local councils in the last<00:13:19.200> three<00:13:19.380> years<00:13:19.500> they're<00:13:19.680> given<00:13:19.980> 700

last three years they're given 700

last three years they're given 700 billion<00:13:21.120> pounds<00:13:21.420> to<00:13:21.480> the<00:13:21.600> richest<00:13:21.839> now<00:13:22.680> you've

billion pounds to the richest now you've

billion pounds to the richest now you've met<00:13:23.160> 50<00:13:23.339> times<00:13:23.639> as<00:13:23.880> much<00:13:24.000> listen<00:13:24.300> is<00:13:24.959> it

met 50 times as much listen is it

met 50 times as much listen is it leveling<00:13:25.380> up<00:13:25.500> if<00:13:25.740> I<00:13:25.920> give<00:13:26.040> a<00:13:26.279> poor<00:13:26.519> person<00:13:26.639> two

leveling up if I give a poor person two

leveling up if I give a poor person two pound<00:13:27.000> 80<00:13:27.300> and<00:13:27.839> I<00:13:28.019> give<00:13:28.079> a<00:13:28.200> rich<00:13:28.320> person<00:13:28.500> 250

pound 80 and I give a rich person 250

pound 80 and I give a rich person 250 pounds<00:13:30.000> no<00:13:30.480> sorry<00:13:30.839> 700<00:13:31.740> pounds<00:13:32.040> 250<00:13:32.639> times<00:13:32.940> as

pounds no sorry 700 pounds 250 times as

pounds no sorry 700 pounds 250 times as much<00:13:33.300> listen

much listen

much listen this<00:13:35.880> government<00:13:36.060> has<00:13:36.420> presided<00:13:36.899> over<00:13:37.139> the

this government has presided over the

this government has presided over the largest<00:13:37.800> and<00:13:38.220> fastest<00:13:38.700> ever<00:13:39.180> increased

largest and fastest ever increased

largest and fastest ever increased inequality<00:13:40.320> in<00:13:40.440> the<00:13:40.560> history<00:13:40.680> of<00:13:40.860> the<00:13:40.980> country

inequality in the history of the country

inequality in the history of the country and<00:13:42.480> the<00:13:42.899> most<00:13:42.959> orwellian<00:13:43.500> thing<00:13:43.680> you've<00:13:43.800> ever

and the most orwellian thing you've ever

and the most orwellian thing you've ever heard<00:13:43.980> they<00:13:44.220> call<00:13:44.399> that<00:13:44.519> leveling<00:13:44.880> up

heard they call that leveling up

heard they call that leveling up what<00:13:45.839> do<00:13:46.139> you<00:13:46.260> say<00:13:46.440> I<00:13:47.160> think<00:13:47.279> in<00:13:47.639> this<00:13:47.760> case

what do you say I think in this case

what do you say I think in this case we're<00:13:48.180> talking<00:13:48.360> about<00:13:48.600> relatively<00:13:49.380> trivial

we're talking about relatively trivial

we're talking about relatively trivial amounts<00:13:50.160> of<00:13:50.220> money<00:13:50.399> for<00:13:50.639> projects<00:13:51.060> that<00:13:51.420> often

amounts of money for projects that often

amounts of money for projects that often ought to<00:13:52.320> be<00:13:52.440> financed<00:13:52.980> by<00:13:53.160> the<00:13:53.639> private

ought to be financed by the private

ought to be financed by the private sector

but<00:14:00.959> finally<00:14:01.200> local<00:14:01.440> Authority<00:14:01.860> budgets<00:14:02.220> have

but finally local Authority budgets have

but finally local Authority budgets have been<00:14:02.519> cut<00:14:02.700> I<00:14:02.940> mean<00:14:03.000> Angela<00:14:03.420> is<00:14:03.540> right<00:14:03.779> over<00:14:03.959> the

been cut I mean Angela is right over the

been cut I mean Angela is right over the years<00:14:04.260> over<00:14:04.620> the<00:14:04.800> years<00:14:04.920> they<00:14:05.160> they<00:14:05.339> have<00:14:05.519> been

years over the years they they have been

years over the years they they have been cut<00:14:05.820> have<00:14:06.060> you<00:14:06.180> had<00:14:06.300> complaints<00:14:06.600> from

cut have you had complaints from

cut have you had complaints from conservative<00:14:07.200> colleagues<00:14:07.560> who<00:14:07.740> haven't<00:14:07.920> got

conservative colleagues who haven't got

conservative colleagues who haven't got money<00:14:08.399> after<00:14:08.760> being<00:14:09.060> asked<00:14:09.360> to<00:14:09.420> promote<00:14:09.779> this

money after being asked to promote this

money after being asked to promote this uh<00:14:10.399> I<00:14:11.399> haven't<00:14:11.519> spoken<00:14:11.820> to<00:14:11.940> anybody<00:14:12.180> about<00:14:12.480> it

uh I haven't spoken to anybody about it

uh I haven't spoken to anybody about it either<00:14:13.079> way<00:14:13.260> right<00:14:13.560> so<00:14:13.740> no<00:14:13.920> one's<00:14:14.040> come<00:14:14.160> to<00:14:14.220> you

either way right so no one's come to you

either way right so no one's come to you and<00:14:14.459> complain<00:14:14.760> all<00:14:15.060> right<00:14:15.240> well<00:14:15.360> let's<00:14:15.600> move

and complain all right well let's move

and complain all right well let's move on<00:14:15.899> let's<00:14:16.139> talk<00:14:16.320> about<00:14:16.440> something<00:14:16.740> completely

on let's talk about something completely

on let's talk about something completely different<00:14:17.519> Annabelle<00:14:18.120> you<00:14:18.480> have<00:14:18.660> a<00:14:18.839> new

different Annabelle you have a new

different Annabelle you have a new report<00:14:19.200> out<00:14:19.560> from<00:14:20.519> The<00:14:20.820> Institute<00:14:21.180> of

report out from The Institute of

report out from The Institute of economic<00:14:22.019> Affairs<00:14:22.560> to<00:14:22.740> do<00:14:22.860> with<00:14:23.100> lab-grown

economic Affairs to do with lab-grown

economic Affairs to do with lab-grown meat<00:14:24.300> tell<00:14:24.540> us<00:14:24.660> about<00:14:24.839> it<00:14:25.079> sure<00:14:26.399> um<00:14:26.519> I<00:14:26.820> think

meat tell us about it sure um I think

meat tell us about it sure um I think the<00:14:27.120> first<00:14:27.240> thing<00:14:27.420> to<00:14:27.600> say<00:14:27.720> is<00:14:28.079> that<00:14:28.320> although

the first thing to say is that although

the first thing to say is that although the<00:14:28.740> sales<00:14:28.920> are<00:14:29.220> something<00:14:29.339> in<00:14:29.519> the<00:14:29.579> realm<00:14:29.820> of

the sales are something in the realm of

the sales are something in the realm of Science<00:14:30.120> Fiction<00:14:30.420> it<00:14:30.899> is<00:14:31.079> underway<00:14:31.560> but<00:14:31.740> is

Science Fiction it is underway but is

Science Fiction it is underway but is nonetheless<00:14:32.399> very<00:14:32.880> much<00:14:33.000> in<00:14:33.300> the<00:14:33.480> early<00:14:33.600> days

nonetheless very much in the early days

nonetheless very much in the early days so

that<00:14:41.220> is<00:14:41.399> surely<00:14:41.880> more<00:14:42.180> friendly<00:14:42.600> for<00:14:42.720> the

that is surely more friendly for the

that is surely more friendly for the environment<00:14:43.199> and<00:14:43.500> is<00:14:43.680> currently<00:14:44.160> across<00:14:44.519> the

environment and is currently across the

environment and is currently across the world<00:14:44.699> all<00:14:45.000> right<00:14:45.060> well<00:14:45.180> let<00:14:45.360> me<00:14:45.480> ask<00:14:45.600> our

world all right well let me ask our

world all right well let me ask our other<00:14:46.139> guests<00:14:46.500> what<00:14:46.680> do<00:14:46.800> you<00:14:46.920> think<00:14:47.040> about<00:14:47.459> uh

other guests what do you think about uh

other guests what do you think about uh deregulating<00:14:48.660> uh<00:14:49.139> lab-grown<00:14:49.680> meat<00:14:49.980> would<00:14:50.100> you

deregulating uh lab-grown meat would you

deregulating uh lab-grown meat would you eat<00:14:50.399> a<00:14:50.579> lab-grown<00:14:51.240> burger<00:14:51.660> I'll<00:14:52.139> give<00:14:52.320> it<00:14:52.440> a<00:14:52.560> go

eat a lab-grown burger I'll give it a go

eat a lab-grown burger I'll give it a go I<00:14:52.860> don't<00:14:52.980> mind<00:14:53.240> my<00:14:54.240> main<00:14:54.360> thought<00:14:54.600> is<00:14:54.839> you<00:14:55.620> know

I don't mind my main thought is you know

I don't mind my main thought is you know I<00:14:56.040> think<00:14:56.100> it's<00:14:56.279> very<00:14:56.459> interesting<00:14:56.760> that<00:14:57.000> the

I think it's very interesting that the

I think it's very interesting that the iea<00:14:57.600> The<00:14:57.899> Institute<00:14:58.139> of<00:14:58.320> economic<00:14:58.680> affairs

iea The Institute of economic affairs

iea The Institute of economic affairs has<00:15:00.300> a<00:15:00.420> chance<00:15:00.540> to<00:15:00.720> come<00:15:00.899> on<00:15:01.079> a<00:15:01.260> show<00:15:01.440> like<00:15:01.620> this

has a chance to come on a show like this

has a chance to come on a show like this and<00:15:02.220> talk<00:15:02.399> about<00:15:02.579> a<00:15:03.180> disaster<00:15:03.420> in<00:15:03.660> the<00:15:03.839> economy

and talk about a disaster in the economy

and talk about a disaster in the economy that<00:15:04.740> that<00:15:05.040> partially<00:15:05.519> they<00:15:05.760> caused<00:15:06.120> by

that that partially they caused by

that that partially they caused by inspiring<00:15:06.899> literacy<00:15:07.680> economic<00:15:08.040> policies

inspiring literacy economic policies

inspiring literacy economic policies which<00:15:08.579> are<00:15:08.760> disaster<00:15:09.060> and<00:15:09.959> instead<00:15:10.199> of

which are disaster and instead of

which are disaster and instead of grabbing<00:15:10.680> the<00:15:10.800> ball<00:15:10.920> by<00:15:11.040> the<00:15:11.160> horns<00:15:11.459> and

grabbing the ball by the horns and

grabbing the ball by the horns and talking<00:15:11.760> about<00:15:12.000> this<00:15:12.240> disaster<00:15:12.540> which<00:15:12.779> is

talking about this disaster which is

talking about this disaster which is damaging<00:15:13.380> tens<00:15:13.860> of<00:15:14.040> millions<00:15:14.220> of<00:15:14.339> people's

damaging tens of millions of people's

damaging tens of millions of people's lives<00:15:14.940> they<00:15:15.540> ask<00:15:15.660> us<00:15:15.839> to<00:15:15.959> talk<00:15:16.079> about

lives they ask us to talk about

lives they ask us to talk about lab-grown<00:15:16.680> meat<00:15:16.920> and<00:15:17.100> what<00:15:17.220> do<00:15:17.339> you<00:15:17.399> think

lab-grown meat and what do you think

lab-grown meat and what do you think about<00:15:17.639> him<00:15:17.880> about<00:15:18.480> lab-grown<00:15:18.959> me<00:15:19.079> about<00:15:19.320> the

about him about lab-grown me about the

about him about lab-grown me about the iea<00:15:19.920> but<00:15:20.399> well<00:15:20.579> you've<00:15:20.760> done<00:15:20.880> the<00:15:21.000> Ia<00:15:21.300> about

iea but well you've done the Ia about

iea but well you've done the Ia about lab<00:15:21.839> grow<00:15:22.019> about<00:15:22.440> you're<00:15:22.800> not<00:15:22.980> a<00:15:23.040> fan<00:15:23.160> of

lab grow about you're not a fan of

lab grow about you're not a fan of either

Technical<00:15:29.220> Solutions<00:15:29.820> are<00:15:30.540> they<00:15:30.779> not<00:15:31.139> to<00:15:31.680> be

Technical Solutions are they not to be

Technical Solutions are they not to be considered<00:15:32.459> uh<00:15:33.060> properly<00:15:33.480> when<00:15:33.959> we're

considered uh properly when we're

considered uh properly when we're looking<00:15:34.260> at<00:15:34.740> things<00:15:34.920> like<00:15:35.220> climate<00:15:35.579> change<00:15:35.699> in

looking at things like climate change in

looking at things like climate change in the<00:15:36.120> environment

the environment

the environment yeah<00:15:37.740> for<00:15:37.920> sure<00:15:38.040> if<00:15:38.220> they<00:15:38.519> work<00:15:38.760> if<00:15:39.180> they<00:15:39.300> work

yeah for sure if they work if they work

yeah for sure if they work if they work if<00:15:39.839> they<00:15:40.019> just<00:15:40.139> how<00:15:40.380> will<00:15:40.560> you<00:15:40.620> know<00:15:40.740> if<00:15:40.860> they

if they just how will you know if they

if they just how will you know if they if<00:15:41.160> they<00:15:41.459> work<00:15:41.579> unless<00:15:41.820> you<00:15:42.000> try<00:15:42.120> them<00:15:42.839> well<00:15:43.199> I

if they work unless you try them well I

if they work unless you try them well I think<00:15:43.440> you<00:15:43.560> should<00:15:43.740> give<00:15:43.860> them<00:15:43.920> a<00:15:44.100> go<00:15:44.220> but<00:15:44.399> if

think you should give them a go but if

think you should give them a go but if you're<00:15:44.639> just<00:15:44.699> using<00:15:44.940> them<00:15:45.000> to<00:15:45.120> distract<00:15:45.360> me

you're just using them to distract me

you're just using them to distract me your<00:15:45.720> own<00:15:45.839> disastrous<00:15:46.260> economic<00:15:46.800> advice<00:15:47.279> then

your own disastrous economic advice then

your own disastrous economic advice then I<00:15:47.699> think<00:15:47.820> it's<00:15:47.940> probably<00:15:48.120> not<00:15:48.360> a<00:15:48.420> good<00:15:48.480> idea

I think it's probably not a good idea

I think it's probably not a good idea um<00:15:49.860> that's<00:15:50.100> all<00:15:50.279> for<00:15:50.579> today<00:15:50.699> I'm<00:15:51.360> exhausted

um that's all for today I'm exhausted

um that's all for today I'm exhausted but<00:15:52.260> thank<00:15:52.440> you<00:15:52.560> very<00:15:52.680> much<00:15:52.800> to<00:15:53.100> all<00:15:53.339> of<00:15:53.459> our

but thank you very much to all of our

but thank you very much to all of our guests<00:15:53.940> I<00:15:54.180> will<00:15:54.420> be<00:15:54.660> back<00:15:54.839> tomorrow<00:15:55.019> with

guests I will be back tomorrow with

guests I will be back tomorrow with politics<00:15:55.680> UK<00:15:56.040> at<00:15:56.220> 12<00:15:56.339> 15<00:15:56.519> here<00:15:56.820> on<00:15:57.000> bbc2<00:15:57.480> and<00:15:57.720> on

politics UK at 12 15 here on bbc2 and on

politics UK at 12 15 here on bbc2 and on the<00:15:57.959> BBC<00:15:58.260> iPlayer<00:15:58.740> bye-bye