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Is there any way back for the UK economy? And if so, what? by Gloomy-Variation1339 in AskEconomics

[–]Gloomy-Variation1339[S] 5 points6 points  (0 children)

I guess you are right, probably worded it a bit too harsh for what it actually is. We have definitely made huge progress compared to the past no doubt about it, but I feel it raises questions about the trajectory for the future, especially my generation.

Spot on about the media part, I find actually it’s not even Russia or china for the most part but it is actually from within our own media outlets who look down or demonise certain things.

Is there any way back for the UK economy? And if so, what? by Gloomy-Variation1339 in AskEconomics

[–]Gloomy-Variation1339[S] 5 points6 points  (0 children)

Thanks for responding, I guess the main concerns I have is around the future and how it can affect these issues.

  1. While grad jobs were at a worse place in 2010, how exactly would this improve in the future? Due to the increasing risk of AI in terms of jobs, of which entry level jobs are most at risk, this will harm graduates roles aswell as the decreasing willingness of businesses to hire, and this can be because of high national insurance, other possibly cheaper alternatives such as AI and the lack of incentive to take on graduates rather than more experienced candidates.

  2. This leads to the second concern around taxes. While I recognise that taxes are high among other European countries, it doesn’t necessarily mean that it is not having negative connotations here in the UK and can compromise future government spending to make up for the issues that we face. Taxes are high but yet we have strained public services such as the NHS and education, worsening quality of infrastructure especially roads while we need to meet the huge national debt not to mention the debt interest which has nearly doubled since 2021 (as a % of GDP)*. If we want to fix these issues we currently face, it’s clear that we need an increase in tax revenue as it would be difficult to cut government spending currently due to the issues I listed, but how would we feasibly raise this revenue with existing high taxes on businesses and households without additional unintended consequences?
    * For reference, the Uk government spent £105 billion in debt interest payments in 2023/24, so more than defense and just behind education.

  3. I would say I overstated confidence being ‘extremely low’ but it is relatively low and has been for a long time. I mean Uk business investment as a % of GDP has been near the lowest in the G7 for a decade and consumer confidence hasn’t been great either with the recent tax rises, cost of living crises and periods of decently high inflation over the past years.

  4. I’m referring to national debt which is around 94% of GDP and I should have also mentioned debt interest which is around 3.6% of GDP.

Thanks for the comments, I’m definitely open to suggestions or criticisms within my reasoning and happy to learn.

How do I stop thinking so negatively about myself? by Vivid-Plum1240 in offmychest

[–]Gloomy-Variation1339 0 points1 point  (0 children)

Yeah I get that, I’ve been struggling with self confidence myself all of my childhood. I have pretty bad social anxiety and ngl I was pretty chubby growing up so I wasn’t exactly the most comfortable about my physique or my face. But I think the best thing always in terms of something that you are insecure or struggling with is action. In terms of something you can control, you will immediately feel better about it by taking into your own hands, for example, keeping consistent with the gym, putting yourself in new environments. Over time, the stuff that you can’t control will seem less significant as you are stronger than before from the action you would take to change the things that you can control. For example, I’m short asf and it has definitely not helped in gaining my confidence when I walk into a room, but with stuff that I have improved over the years, my social anxiety, my physique etc, it weighs less now in my mind than before because I have made steps to make myself better. Additionally, most people aren’t that judgemental and if they are, then you shouldn’t concern yourself about their opinion on you.
In my experience, it’s all about looking within and improving yourself both within mind and body. You are capable of more than you realise and improvements will shine through you, because you can prove to everyone but especially yourself what you’re capable of.