London Mayor and Labour Party politician Sadiq Khan speaks with Christiane Amanpour about Prime Minister Liz Truss' resignation and the climate crisis, from the C40 World Mayors Summit in Buenos Aires. #CNN #News
The UK is ‘a laughing stock,’ says London’s Mayor
Everybody’s fighting like little children , then the innocent people got to come to the streets and clean their mess.
Yes, Liz’s reign was rather brief at just 45 days, but to be fair to her, that was 44 days more than I expected her to last.
You burned her so bad
That was savage. Also, fair.
@Simulation L It might be more convincing. If you didn’t just make vague claims and instead provide the right numbers. If you don’t know the real number, you shouldn’t comment on a subject you know nothing about.
@SuperBullaMan She and Kwasi Kwarteng was totally incompetent! The day after the Bank of England said it would increase interest rates, Truss and Kwarteng presented a mini-budget containing massive tax cuts. Tax cuts would put more money into circulation, increasing inflation rather than decrease it – and as a result the BoE would have had to put interest rates even more up, to compensate for the added inflation caused by the tax cuts. If that wasn’t enough, their airhead economic policy presented in the mini-budget also managed to bring the pound to it’s record low, and caused such serious rises in the yield the BoE had to start buying bonds to prevent pension funds from going under. Which was directly counterproductive to it’s other effort – to slow down inflation – since they by doing so brought even more money into circulation, which would increase inflaten – and later force the BoE to increase interest rate even more to slow the inflation down again. As a consequence has not only British mortgage holders have less money to spend, cause more of their income will be used to pay interest. But the country also will have to pay higher interest, meaning the budget either has to be cut more, or taxes raised, to compensate for the higher interests on the national debt. The result of that will be less money for the government to provide services and wellfare for it’s citizens – or higher taxes for the citizens. This could have been avoided if they had retracted the mini-budget as soon as it was clear the market hated it, and investors was fleeing both from the pound and from British bonds. But instead of facing up to their travesty of a mini-budget, dumb and dumber dug themselves in trenches and started fireing off blame at anyone from the BoE to the death of the Queen, rather than owning up to the fact the financial turmoil was caused by their own fiscal incompetence. They didn’t, and don’t, deserve another chance, having ruined the chances for many to get a mortgage and a home of their own, or to afford the home they already have, by tanking the UK economy so solidly Britts will feel their personal wallet shrink, at the same time as public spending will go down because of budget cuts.
It would have been shorter had the queen not died.
Relax, as laughing stocks go, the UK is far from alone!!
I attest to that. Greece here.
To be fair:
The UK became the laughing stock during the entire Brexit nonsense, where people claimed that the country could do better outside one of largest economic blocks in the world than inside…
It simply has remained the laughing stock since then. Don‘t put that all on Truss.
UK trade with EU countries has increased since Brexit, sorry to burst your bubble.
@glyn it literally has NOT. Every single set of stats on the matter says it’s less. And will continue to reduce.
All is good here and abroad, the rich getting richer and the poor getting poorer, Check mate!
No more a laughing stock than the US has become. I’ve never been more embarrassed by either.
💯💯💯
Same
At least the US has a functioning government that is able to get some things passed.
watching from Fiji and im pretty sure we are the laughing stock for continuing to look to such a corrupt system for moral guidance…
Boy, I miss CNN having more real conversations like this! This is a great interview. (Maybe I’m just forgetting what intelligent conversation sounds like)
Yeh because CNN usually makes crap
CNN international is quite a bit better than the CNN played in American networks.
I rarely feel bad for England, but whatever party has to shovel the god-giant mound of manure left by Boris and mini-Boris has my sympathies.
2:04 “We look to you for ‘moral’ leadership”?? 😳 Well hopefully they can start doing that now. Who is looking for “moral leadership”? 🤔
Actually the UK is fairly sane compared to the USA. But keep working at it and you will catch up.
The UK is not a laughing stock the Conservative party is. The right in the US is also too busy with in fighting to be anything but a laughing stock as well
The biggest problem is the UK itself has no money. It’s not a particularly difficult issue, but I’m seeing a wide range of absolute clowns trying to compare US policy to UK policy… the UK can’t simply flood the market with pounds as it has technically speaking and expect it to work in the same way the US printing money did…
It’s only my British friends laughing about it. Everyone else is just more or less dumbfounded in horror. Quite similar to my American friends and their situation actually.
The sad part is that no one in the UK really knows how to get out of this mess and move the country forward. I mean it’s not that Liz Truss resigning would now help anyone to be optimistic about the future. There isn’t any solution available to overcome this quickly.
It’s an easy fix – a general election 👍
You don’t have a monopoly on being a laughing stock. Remember, we have, and still have, Trump.
Take care from the Heart of America 🇺🇸. England 🇬🇧 is still a valuable friend and ally.
Is the UK trying to compete with Australia for the most number of Prime Ministers over the shortest period of time?
If she resigns is because, at least here (the UK), we have a bit of a bone of dignity. Far from perfect, but the sadness of today is not what I take for tomorrow.
As an Indian, I am loving this. They are literally begging us for trade deals. Oh the irony! #karma
From the man that says terrorism is a part of living in a big city.