Patrick Boyle

A good example is even interest rates.

Who is a hike or a cut in interest rate transferring wealth between?

If you cut interest rates, that's good for borrowers.

It's bad for savers.

Borrowers tend to be the business sector.

Savers tend to be the household sector.

And you can look through almost everything like that.

Like if you wanted to stimulate the economy, you could cut the cost of tube fares, for example.

That would benefit the working people rather than retirees, for example.

I have seen that actually, like people just storm through the gates.

So this is quite an interesting thing in the UK because actually the sort of minimum wage is quite high in the UK.

So we'll say like, you know, entirely unskilled work, like the kind of job a teenager could get.

pays much higher in the UK than anywhere else in Europe and in the United States.

It's really high.

But then it's that kind of university educated, like, you know, it's sort of the worst thing where if you're like a junior engineer, you might be earning, you know, 10% more than the guy making the coffees in the cafeteria.

And that, of course, you know,

i mean once again it's it's not for me to decide who gets paid what but it it does uh sort of it it makes people miserable it makes you know there's very highly educated people in the uk who are quite angry you know because

what was it, maybe a decade, 15 years ago, they introduced like the, you know, much higher university fees and things like that.

And so you graduate, you've got a load of debt, and then you're not really earning the premium for your education that you earn in other parts of the world.

And that...