Britain Is No Longer a Land of Opportunity
A recent viral tweet showed two doctors leaving a hospital. They’ve surrendered their licenses to practice medicine in Britain and are instead heading off to work in Australia. It’s not unusual- the majority of foreign doctors in Australia are Brits. The problem lies in the fact that young, educated doctors do not see themselves thriving in Britain. Our pay and conditions are not good enough for them.
Are you annoyed at them for being educated through taxpayer funding before going abroad? Many are. Are you understanding as to why? So are others.
Whilst this particular tale does come down to problems with the NHS, it’s also an example of what is wrong with Britain at the moment. People, especially younger ones, haven’t got the opportunities that they should have. There is no aspiration. There is a lot to reach for and not a lot to grab.
What has happened?
Wages and Salaries and Income, Oh My!
A recent investigation by a think tank has revealed that 15 years of economic stagnation has seen Brits losing £11K a year in wages. Let’s put this into perspective. Poland and Eastern Europe are seeing a rise in GDP- Poland is projected to be richer than us in 12 years should our economic growth remain the same. The lowest earners in Britain have a 20% weaker standard of living than Slovenians in the same situation.
That’s a lot of numbers to say that wages and salaries aren’t that great.
By historical standards, the tax burden in the U.K. is very high. COVID saw the government pumping money into furlough schemes and healthcare. As the population ages, there is a further need for health and social care support. This results in taxes eating into a larger amount of our income. In fact, more adults than ever are paying 40% or above in taxation. It’s a significant number. One might argue that this does generally only apply to the rich and thus 40% is not a high amount for them, but is that a fair number?
With inflation increasing costs and house prices rising (more on that later), a decent standard of living is beyond the reach of many. This is certainly true for young people. With wages and salaries falling in real time, we do not have the same opportunities as our parents and grandparents. Families used to be able to live comfortably on one wage, something that is near impossible. Our taxes are going on healthcare for an aging population.
Do we want old people to die? Of course not. We just do not have the benefits that they did. Our income is going towards their comfort. Pensioners have higher incomes than working age people.
Compared to the United States, Brits have lower wages. One can argue that it is down to several things- more paid holidays and taxpayer funded healthcare. That is true, and many Brits will proudly compare the NHS to the American healthcare system. That is fine, but when the NHS is in constant crisis, we don’t seem to be getting our money’s worth. The average American salary is 12K higher than the average Brit’s. The typical US household is 64% richer. Whilst places like New York and San Francisco have extortionate house prices, it’s generally cheaper across the US.
Which brings us onto housing.
A House is Not a Home
Houses are expensive- they are at about 8.8% higher than the average income. This is compared to 4% in the 1990s. That itself is an immediate roadblock to many. Considering how salaries have stagnated, as discussed in the previous section, it’s only obvious that homeowning is a dream as opposed to reality.
Rent is not exactly affordable either. In London, the average renter spends more than half of their income on rent. Stories of people queuing for days and landlords taking much higher offers are commonplace.
House building itself is not cheap- the price of bricks have absolutely rocketed over recent years. Factors include a shortage of housing stock and increased utilities. House building itself is also not easy.
NIMBYs have an aneurysm at the thought of an abandoned bingo hall being turned into housing. MPs in leafy suburbs push against any new developments, lest their wealthy parishioners vote for somebody else. Theresa Villiers, whose constituency sees homes average twice the U.K. mean price, led Tory MPs in an attempt to prevent house building targets.
We get the older folks telling us that we just need to work harder. It’s easy for them to say, considering a higher proportion of our income is needed to just get a damn deposit. If we’re paying more and more of our income on rent, how can we save?
Playing Mummy and Daddy
The ambition to become a parent is something many hold, but it is again an ambition that is unattainable. Well, the actual having the child part is easy, but it’s what comes after that makes it tough.
Firstly, we cannot get our own homes. Few want to raise their children in one bed flats with no gardens. To plan for a child is to likely plan a move.
Secondly, childcare is very expensive. Years and years ago, men went to work and women stayed home with the children as a rule. Of course, that did not apply to the working class, but it was a workable system. Nowadays, you both have to work. Few can survive on a single income from either parent. Grandparents are often working themselves or simply don’t/can’t provide babysitting duties. This leaves only one choice- professional childcare. The average cost of childcare during the summer holidays is £943. Some parents pay more than half of their wages on childcare.
Thirdly, as has been said, everything is more expensive these days. One only has to look at something basic like school uniforms- some spend over £300 per child. It’s not cheap to look after adults, let alone children.
The Golden Years
The focus of this piece is generally on young and working age people, but the cost of social care is pretty bad. With the costs of home and residential health care increasing constantly, it means that many will lose their hard earned savings. Houses must be sold and pensions given up. It is unfair that we must work all of our lives but then leave nothing for our children if we wish. Whilst residential homes are alien concepts to many in cultures where they look after the elderly, many factors in the U.K. mean that it is more common.
On balance, pensioners are better off than the young, but what about those who need care? It may be bad now, but what about when we ourselves are old? We will likely still be working at 70 and having to pay more for our care.
The Party of Aspiration and 13 Years of Power
The Conservatives have always called themselves the party of aspiration. They’ve been in power for 13 years, eight of which were without a coalition party. The Tories won a stunning majority in 2019 under Boris Johnson. They’ve had the opportunity to do something about this but haven’t. It’s amazing that they wonder why young people don’t vote for them anymore.
Let’s not pretend Labour and the Lib Dems are any better either. The Lib Dems won the historical Tory seat of Chesham and Amersham partially by appealing to those worried about new housing. Labour’s plans aren’t particularly inspiring.
We cannot dream in Britain anymore. The land of hard work and fair reward is no more. We must simply sit by as our wages stagnate, houses get too expensive and the opportunity for family passes us by. Our doctors head to Australia for better pay and better conditions. Countries that would see immigrants come to us for a better life are seeing their own economies grow.
People shouldn’t be living with roommates in their 30s when what they want is a family. We deserve to work hard to secure a good future. We don’t deserve for our income to go on poor services and for our savings to go on residential care.
The Tories have had thirteen years to sort it out. Labour and the Lib Dems have had chances to put their plans across. Our politicians care more about talking points and pretty photo ops than improving our lives.
Let us have ambition. Let us seek opportunities. Let Britain be a land of opportunity once again.
The Hidden Costs of Exporting CO2 Emissions
Introduction
As the world grapples with the urgent need to combat climate change, discussions surrounding CO2 emissions and their impact on the global economy has taken centre stage. One contentious issue that has emerged is the concept of CO2 import tariffs. Such tariffs would aim to address the soaring demand of exporting carbon emissions to countries like China and India while seemingly reducing emissions domestically. However, I will proceed to argue that this approach harms the British economy and businesses alike, creating an illusion of progression in a desperate ploy for Western nations to ‘feed their image‘ on the global stage, this issue has also exacerbated the case to accelerate the implementation of CO2 import tariffs – levelling the playing field for sustainable, British industrial goods.
The Mirage of Reduced Emissions
The introduction of CO2 import tariffs, scheduled for 2026, is undoubtedly a step in the right direction, however, there is a growing consensus that these tariffs should be implemented sooner rather than later, with more stringent fees. The primary reason for this urgency is the alarming trend of British businesses struggling to compete with offshore prices, due to their minimal to no CO2 regulations in countries like China and India.
Statistics will tell the same story: Over the past decade, European nations have made significant strides in reducing their CO2 emissions. For instance, the European Union’s emissions fell by 24% between 1990 and 2019. However, as a result of these reductions, imports from Asian nations, particularly China, have surged. In 2019, the UK alone imported goods worth £49.5 billion from China, a significant portion of which was produced in industries with higher CO2 emissions. This shift in emissions from the West to the East raises critical questions about the effectiveness of domestic emission reduction efforts.
Yes, it is obvious Western nations have made a conscious effort to drastically manage C02 emissions, however it cannot be denied that this effort has a little to no effect on global emission rates. Since 2005 for the US and 1990 for Europe, CO2 emissions have operated at a downward tangent, however at the same time both China and India have increased their emissions year on year – with no reduction.
Levelling the Playing Field
The argument in favour of accelerating CO2 import tariffs rests on the premise of creating a level playing field for sustainable goods. British companies that have had to adhere to stringent environmental regulations have faced a significant competitive disadvantage when competing against products manufactured in countries with laxed emission expectations. This not only harms domestic businesses, but also undermines the goals of reducing global emissions, thus the only identifiable solution would be to either reduce our own emission regulations, or introduce a boarder tariff, pinpointed at nations with subnormal CO2 rates.
Through imposing these higher import tariffs on goods produced in extreme CO2-emitting countries, the UK can incentivize foreign manufacturers to adopt cleaner manufacturing practices, actively reducing global emission rates – rather than feeding our emissions elsewhere. Such tariffs would reflect the true environmental cost of the imported goods, reducing the price advantage enjoyed by high-emission industries abroad. This, in turn, would encourage British consumers to choose more sustainable options, fostering a transition towards cleaner and greener products. But that isn’t the only benefit! As a result, one would expect us to become more self-sufficient, and as a nation be less reliant overseas and more focused on our own industrial goods.
Addressing Arguments Against CO2 Import Tariffs
Some argue that Western nations have enjoyed an unfair advantage for centuries and that it is now their responsibility to bear the economic costs of climate change. While historical inequalities can indeed be argued, I would contend that any attempts to do so would be in vain, combined with a lack of understanding that if tomorrow we relaxed all of our climate regulations (which is a lot), then our economic situation would soar higher – deceitfully so – than fellow European nations.
Picture a scenario where the UK could potentially usher in a wave of economic benefits – via little to no climate regulations. Industries seeking lower production costs might see the UK as a more attractive destination, enhancing our global competitiveness. Sectors with high energy consumption, like manufacturing and heavy industry, would find it financially advantageous to operate in a less regulated environment, resulting in greater job creation. Does that sound familiar? Because this is precisely how China and co have operated over the last 20 years, summarizing why their economy has taken such a colossal leap.
Arguing that because of historical inequalities we should just expect Western nations to continue to lose business and incur high costs for the sake of climate change, and only to see reduced emissions move elsewhere, simply ignores the interconnectedness of our global economy. The environmental damage caused by unchecked emissions in one part of the world ultimately affects us all. By exporting emissions to countries with fewer regulations, we are merely shifting the problem, not solving it. If global emissions continue to rise, while our own emissions head towards net zero, it begs the question: what is the point in all of this? Why persist in regulating our businesses to the brink of collapse, relinquishing our capacity to sustain our domestic market, and fostering an import-dependent culture, all while our endeavours seem to yield no significant results?
Conclusion
To conclude, it is undeniable that CO2 import tariffs represent a crucial tool in addressing the harmful practice of exporting emissions to countries with non-existent regulations. While there is a similar scheme set to be introduced in 2026, there is a compelling case for their acceleration and strengthening of this. The fact of the matter is that European nations’ reduction in CO2 emissions has only led to a surge in imports from high-emitting countries, highlighting the need for immediate action and showcasing to other nations that the only way to grow their economy is to mass produce (with high CO2 costs) for the sake of us Western nations to ‘look good on the global stage’.
These tariffs are not about punishing other nations, but rather about creating a level playing field for sustainable and British goods. They will encourage cleaner production practices globally and drive the transition to a more sustainable and equitable global economy.
Photo Credit.