Chapter 1: Why are the upcoming UK elections particularly significant?
Okay, welcome back to Gary's economics. Today we are doing the video that I was strongly advised not to make.
Chapter 2: Will Keir Starmer resign if Labour performs poorly?
And we are going to tell you who you need to vote for in this week's local elections if you want to stop the collapse in living standards. All right. So the basic context for our foreign friends or British people who are not particularly interested in local elections, which is quite a lot because local elections tend to get ignored.
We have local elections coming up this week, coming on the 7th, which is the Thursday this coming week. you need to vote in these elections because they are particularly big ones. They're really important. Really, this is the closest you are going to get to a vote for who is going to be your next prime minister if you're here in the UK.
Chapter 3: Who should you vote for in the local elections?
So local elections do tend to get ignored.
Chapter 4: What impact do Scottish and Welsh elections have on UK politics?
They don't change the prime minister, although this one quite possibly might.
Chapter 5: Who are the potential candidates for the next UK Prime Minister?
But this one is really, really important. First of all, we've got a few big elections going up. It's going to decide the new government in Scotland. and in Wales.
The second big reason why this is important is because if you watched my video a few weeks ago I spoke about how the established political parties in the UK like in the rest of the Western world are basically collapsing and we have a situation now where
Chapter 6: What strategies can be used to implement wealth taxes?
historically for hundreds of years the UK has been a two-party political system and in the next election we will have genuinely six or maybe even seven parties that have a big say on who will be the next prime minister and these local elections
are going to be basically a big battling ground to decide like which political parties are considered to be like the serious contenders for the next election. It's particularly important obviously for Labour who are incredibly unpopular and everybody will be looking to see how badly they do.
It's going to be really important for the Greens who are, there's a kind of battle going on at the moment in the UK to determine basically who is the legitimate person or party to vote for if you want to prevent a reformed government in the next general election.
Chapter 7: What predictions can be made about the future of British politics?
That was a big story in the recent by-elections in Manchester and I think there's going to be a big thing here about whether the Greens are the more legitimate anti-reform party in this country in contrast to Labour. It will be important also for Reform who are well ahead in the polls but are seeming to lose a bit of popularity.
because of Donald Trump doing things which are hurting living standards and quite internationally unpopular so it's going to be massive in deciding like who are the runners and riders for the next election basically like will the established political parties Labour and the Conservatives disappear or will they not and the third main reason why this is super important is because there is a realistic possibility that Keir Starmer will
resign after the local elections. So the context on that is that Keir Starmer is polling incredibly badly. He is incredibly unpopular. He's apparently the least popular British prime minister in the history of polling. There's a lot of controversy right now about Peter Mandelstam and Jeffrey Epstein and all this stuff going on.
But it is very possible that if Labour do incredibly badly in this election, he will be forced out. As a betting man, I should probably talk a little bit about how likely that is. The betting market thinks there's about a 50% chance that Starmer goes before September. And about a 66% chance he goes this year. I actually think that it's quite possible they'll keep him on a bit longer.
But really, we don't know.
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Chapter 8: How can listeners influence political outcomes in their communities?
But it is very possible. We can't say with certainty. But if it's not immediately or in the...
in the immediate period after these local elections that Starmer will go I think it's very very likely that he will go he will be forced to resign either this year or next year which means that we will get here in the UK a new prime minister and these local elections are going to have a big influence on who the next prime minister will be so if and when Keir Starmer resigns
The new Prime Minister will be decided within the Labour Party, between the MPs and the members, and you as an ordinary British person, if you're watching from the UK, will not be able to vote in that. So the closest you will have to a vote on deciding who will be the new Prime Minister, what will be the new direction for this country, will probably be in these elections this week.
and the final reason why these local elections are important and that you definitely need to vote in these local elections is because we did a massive call out about it I think it was three weeks ago we did a video we posted the link on how to register to vote if you haven't registered yet it's too late so make sure you register for the next one but we have decided to sort of step in a little bit on this and try to be a little bit more assertive and a little bit more aggressive in getting
our viewership to to vote and to participate. And the reason that we've done this is because really we want to build a bit of ability to influence the Labour Party.
So if you've been watching this channel for a long time, you will know that we've grown very quickly in the last couple of years and we have a very clear mission on this channel, which is we want to stop the growth in wealth inequality. We want to stop the growth in
Economic inequality we want to improve living standards and we want to do that by pressuring governments here in the UK and across the world wherever you are To build a fairer tax system which taxes wealth very wealthy people more and taxes work tax working people less that's why we call it tax wealth not work and We've been quite frustrated.
I've been quite frustrated especially in the last couple of years because We have done a great job of making wealth taxes and the fairer tax system incredibly popular with the public but centre-left political parties such as Labour or the Democrats or the centre-left party, wherever you are, have generally been incredibly resistant to these calls on wealth taxes.
In the UK in particular, Labour have been pretty reluctant to even speak to me about policy. I did a documentary recently for Channel 4 and they refused to let me speak to anybody from the Treasury. And it's been quite frustrating because I think we've created a situation where if Labour want to
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