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🗓️ 8 July 2025
⏱️ 5 minutes
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0:00.0 | I'm John Batchel with my good colleague Joseph Sternberg. He's in London for the Wall Street Journal editorial page. |
0:09.0 | He writes political economics. And he indulges me now and again to comment on the conduct of the parliament. |
0:16.3 | This is the original legislature's meeting to discuss the public finances of the people. |
0:23.2 | And over these last weeks, I've been reading story after story where labor led by Kier Starrmer, |
0:29.3 | an enormous majority, I think it's 165, which is just overwhelming. |
0:34.3 | The Tories don't need to show up. |
0:36.8 | And Farage and his reform party is essentially a |
0:39.8 | quote for the BBC. It's not on the floor of the parliament. But Commons has been debating not |
0:45.0 | between the opposition and labor, but between labor and labor, between backbench labor and |
0:51.4 | Kier Starrmer and his chancellor, the extractor, Rachel Reeves. But I'm not sure |
0:55.8 | I understand the case here. Joe, I thought it was agreed upon that the United Kingdom needs to |
1:02.6 | grow and they need productivity and they need growth going forward. And taxes are not a way to grow. |
1:10.4 | Taxes are a way to slow down and, in fact, |
1:12.5 | reverse growth. And they're to wear how they've fallen out of favor with world affairs |
1:19.6 | ever since they left the European Union and London's lost a great deal of business. At the same time, |
1:26.2 | they can compare how they're doing compared to how |
1:28.3 | the U.S. is doing over the last 15 years, and since the Great Recession, and even Europe, |
1:33.6 | which is itself sideways. But in any event, all of this led to labor proposing a, I think it's called the spring budget, and there'll be one again in the fall, in which there were modest, I mean, unbelievably modest reductions in welfare. |
1:53.5 | Unbelievable. And yet it was rejected. Have I read all this correctly? That they can't do anything because they're stuck on the idea of being the labor party for the little guy? |
2:05.4 | That's pretty much what's going on here. |
2:07.1 | I mean, what we are talking about is, I mean, it is hard to communicate how modest these welfare reforms were. |
2:15.9 | I mean, this is akin to the huge knockdown, dragout fight that we just had in the U.S. with |
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