Britain is now poorer than the poorest American state and economist Andrew Lilico says a full-blown fiscal crisis is coming within ten years. He explains how Britain broke itself, why the political establishment lost its faith and the £180 billion in spending cuts he believes should be the baseline, not the radical option.
Andrew Lilico is Executive Director of Europe Economics and Chairman of the IEA Shadow Monetary Policy Committee. He is one of Britain's most prominent economists and a regular voice on UK fiscal policy.
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TIMESTAMPS:
00:00:00 - Britain Is Poorer Than We Pretend
00:01:17 - The Coming Fiscal Crisis
00:02:48 - The Three Forms Of A UK Fiscal Crisis
00:05:00 - How Britain Betrayed A Generation
00:09:11 - ONE Oligarchy Or Competing Ones
00:13:06 - The 20-year Loss Of Coherence In British Politics
00:15:00 - Why Politicians No Longer Trust Voters
00:17:56 - When The System Broke
00:19:42 - Short-Termism And The Death Of Economic Justice
00:22:34 - WHO Actually Runs Britain
00:25:00 - Bank Of England Independence And Its Hidden Cost
00:30:00 - Do We Need An Anti-establishment Movement?
00:33:00 - Why Reform Is Diluting Its Own Message
00:40:00 - £180 Billion In Spending Cuts
00:43:13 - The Bank Of England Back Under Political Control
00:44:05 - The \"Surrealist Game\" Of Inflation Targets
00:50:00 - Is It Really The Voters' Fault?
00:54:00 - What The Polls Are Telling US
00:55:30 - Is There An Optimistic Path Out Of This?
01:03:12 - UK GDP Per Capita Used To Be Higher Than The US
01:05:44 - What Britain Can Learn From Argentina
01:10:35 - What Should An Ordinary Person Do?
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EDITED BY CONOR MCCORMACK
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