Patrick Boyle

For humans, we also burn stuff and that turns into energy.

And when you look around the world, often the most development and the most economic output comes from the countries with the cheapest energy.

And we have very expensive energy here.

And there's not really any good projects in place that are going to make it cheaper.

And so when you look at, you know, when people say, like, how do we bail out the steel industry?

It doesn't make sense for one thing.

britain doesn't even produce iron ore you know because they people often make this strategic argument like oh you need it in time of war and it's like well we need to import the iron ore and then we need to you know run it through the most expensive furnace in the world maybe we'd be better off just buying the you know stockpile the stuff if you want to but the steel industry can't work here with the you know the the current setup so

Yeah, I mean, you know, in truth, like in sort of difficult times like the UK is in right now, many other countries, you see the rise of populism and there's both left and right wing populism.

But essentially what populism often is, is it's giving voice to anger without necessarily any real solutions.

You know, so like you said, an idea of populism

borrowing way more money than the country has ever and probably could borrow.

That's not a solution.

And a lot of

You know, the huge improvement could be made to the tax system in the UK.

It's kind of interesting that actually the average British person has lower taxes on average than in a lot of the developed world.

But then the middle and wealthier cohort pay very high taxes.

You know, so then all of these ideas of wealth tax and whatever, it's a funny thing because

really what needs to be done is you need to spur productivity and growth in the uk you know you you can't tax an economy into growth um and you know a lot of the solutions that are put forth on really either side are more about voicing anger than about providing real solutions and they're often

I don't like to beat up on people because they're often very well-meaning if sort of economically illiterate.

They don't understand why that policy just wouldn't work.