Why Rachel Reeves’s first budget cannot survive the coming financial meltdown

Video Description

Rachel Reeves is presenting a budget built on assumptions that simply cannot survive the world we are about to enter. Share prices are likely to fall sharply. A banking crisis may follow. Pension funds could be hit harder than at any time since 2008. And the Chancellor? She has offered only cuts, caution and neoliberal wishful thinking. In this video, I explain why her budget is unravelling before she even delivers it — and why government action, not austerity, will be the only way out of the crisis that is coming. Do you think Rachel Reeves is prepared for the crisis that may be about to hit the UK economy? Let us know your answer by voting in our poll: https://www.youtube.com/post/UgkxLGpJew_67Qh_TQRcU_CiWG-JU1yijrPp 00:00 – Rachel Reeves’s budget begins to unravel 01:00 – Assumptions behind the budget already failing 02:00 – Remembering March 2020: when crisis struck overnight 03:00 – Looming financial collapse and AI tech bubble burst 04:00 – Banking and pension crises on the horizon 05:00 – Why Reeves’s assumptions will collapse like Sunak’s in 2020 06:00 – Government must step in—but Reeves won’t 07:00 – Austerity dogma and neoliberal blindness 08:00 – How the next crisis could devastate jobs, banks, and pensions 09:00 – Why cutting isn’t leadership: Reeves’s small-accountant mindset 10:00 – What real economic courage and care would look like TRANSCRIPT A transcript for this video is available at: https://www.taxresearch.org.uk IF YOU WANT TO WRITE TO YOUR MP ABOUT ISSUES IN THIS VIDEO If you want to write a letter to your MP on the issues raised in this blog post, there is a ChatGPT prompt to assist you in doing so, with full instructions, here. https://www.taxresearch.org.uk/Blog/2025/06/20/chatgpt-prompt-for-a-letter-to-your-mp/ HOW TO SUPPORT US Please consider donating: https://ko-fi.com/taxresearch ABOUT RICHARD MURPHY Richard Murphy is Emeritus Professor of Accounting Practice at Sheffield University Management School. He is director of Tax Research LLP and the author of the Funding the Future blog. His best-known book is ‘The Joy of Tax’. This video was edited by Thomas Murphy. RICHARD MURPHY ON BLUESKY: https://bsky.app/profile/richardjmurphy.bsky.social OR ON MY BLOG: http://www.taxresearch.org.uk/Blog/ HIT SUBSCRIBE & GET NOTIFICATIONS Subscribe and get notified of new videos released. INTRODUCTION: https://www.youtube.com/watch?v=HdHsRPy3060 PLAYLISTS: The Wealth Series https://www.youtube.com/playlist?list=PLvRueM6wBgobQLeyZYAagFDMjEFTKbhRD Ecenomics https://www.youtube.com/playlist?list=PLvRueM6wBgob54Gs-fOL-8OAQ-IpduwB4 Britain https://www.youtube.com/playlist?list=PLvRueM6wBgobwTT4ATvJjsf8OO6S7wD10 Tax https://www.youtube.com/playlist?list=PLvRueM6wBgoaMni_12J6ULp3yUJisUZoY MMT https://www.youtube.com/playlist?list=PLvRueM6wBgoZ6jvRGSW5YXu8qogE6aClX Money https://www.youtube.com/playlist?list=PLvRueM6wBgoYnLk1c7syTvoIo8bKYUs5m Climate Change https://www.youtube.com/playlist?list=PLvRueM6wBgob4_wsYaVivWd2WumpPLYwJ USA https://www.youtube.com/playlist?list=PLvRueM6wBgoYYd3dSyU2Oyl3x7bWJOP7H Labour https://www.youtube.com/playlist?list=PLvRueM6wBgoa-KhzG-fnjDSg1WROL1zMw The Trump Administration https://www.youtube.com/playlist?list=PLvRueM6wBgobz41-GLimTho27A3flVWQx #RachelReeves #UKEconomy #Budget2025 #FinancialCrisis #Neoliberalism #EconomicPolicy #BankingCrisis #FiscalPolicy #EconomicJustice #PublicSpending #StateIntervention #AusterityFails #PoliticsOfCare #ModernMonetaryTheory #EconomicCollapse #ReevesBudget #GlobalMarkets #FinancialStability #EconomicLeadership #CourageousState