Hello and welcome to Broconomics. This episode is going to be for socialists. I think I'm going to

entitle it Economics with crayons. My original conception was I was literally going to have a board

with paper and flip charts and crayons and I was going to write all of this stuff out. But then I

remember that my handwriting is atrocious and therefore my crayoning is probably

completely illegible.

So I'm just going to do it with the presentation start again.

What I'm looking to do in this episode because I continue to be dismayed about how the Labour

French bench and socialists in general, you know, in academia, in one, social media, ones that you meet,

they continue to be utterly clueless about the most basic possible concepts of economics.

So I'm going to do an episode entitled Just For Them.

I don't know how many of them will watch it. I will,

when this comes out, tag in as many Labour MPs as I can think of and try and get them to share

it. But at a very minimum, it will go to several thousand of you and then you might interact with a number of socialists over the

coming years and could perhaps might find some of this useful. What particularly inspired my

thinking on this was Labour's latest particularly clever idea, which is that they have realised

that they have run out of other people's money

again. So what they're thinking is a 2% annual wealth tax on anyone with more than 10 million

in assets. This is coming out of whatever body that Neil Kinnock, he was going to be the Prime Minister,

the Labour Prime Minister in 1990, was it one or two, but then John Major unexpectedly won,

and Neil Kinnock never became Prime Minister, the Labour Prime Minister,

which is a bit bloody unfortunate actually, because we then got Tony Blair in 1997.

And had, if John Major had not had the temerity to win that 1992 election, Kinnock would have made such a ball's up of it that we never would have got Tony Blair, we never would have got, um, Kinnock would have made such a balls up of it that we never would have got

...