Are Bankers Scared Of Corbyn? We Asked Them.

Are Bankers Scared Of Corbyn? We Asked Them.

Are you scared of a Labour government? Yes! We are two weeks out from a general election we’ve already had stories about the super-rich being ready to flee the country if Jeremy Corbyn comes to power. We thought we’d come to the city to ask people’s opinions on whether or not the richest should pay a little bit more tax under the next British government. Any thoughts about the general election sir? They’re all a bunch of bastards. So, we’re asking about the general election. Yeah it’s bollocks. Are you scared of a Labour government? Yes Are you scared of a Labour government? Yes Excuse me sir, we’re here to ask some questions about the general election. I wondered if you had any thoughts? Umm, just that I hope the Conservatives win. So if you think in this country you have got some public services which are in crisis, you know four million people waiting for operations six hundred thousand people on trolleys last year. How do you think the government should make the money to fund those services properly? You don’t think we’ve got public services that need investment? Well of course we do, but we don’t have the funds to renationalise all that they want to renationalise. Where’s it all coming from? Well there’d be lots of people who’d say that the people who are saying that a future Labour government couldn’t afford to invest in public services, and tax and nationalise things that they could afford to bail out the banks here, and that they haven’t paid the price for the damage they caused the economy. I think that’s right. There’s been a lot of very bad management within the banking system and within finance as a whole. Ok so what the Labour Party are saying is what they’ll do is increase taxes on the rich and they’ll spend those taxes on the rich on public services because they don’t think four million people waiting for operations is a good thing. Well of course four million people waiting… I don’t think four million people are waiting for operations as a matter of fact. 4.4 million are waiting for operations. Well maybe there’s a case for people who can afford it to pay for medical care up to a certain point. After all you have prescription charges. Well Labour are going to scrap them to be honest. They’re gonna scrap… they’re going to nationalise everything and they’re going to scrap. They’re going to do all these wonderful things and where’s the bloody money coming from? Well the bloody money is coming from taxing the rich, that’s what I said! Ohh will it. And what do you think that will do? Do you really think that taxing the rich to pay these billions and billions and billions is going to improve the economy? Yes Well, we don’t agree. Have a good day sir. You have a lovely day too. Excuse me sir, we’re asking about the general election. What do you want to know? Any thoughts on whether you’d like to see Jeremy Corbyn or Boris Johnson as prime minister? Definitely don’t want to see Corbyn. You don’t want to see Corbyn? Could you explain why? He’ll bankrupt us! O.K Can you expand a bit? Who are you thinking for prime minister? Jeremy Corbyn or Boris Johnson? Johnson Johnson, can you tell me why? Because there’s no alternative In Labour’s manifesto it says they’re gonna tax the rich more than they have
been taxed up to now. What do you think about that? To an extent I agree yeah. The rich should be taxed at least at the 40% mark. I know they get a lot
more but they get out of it through all the ducks and dives that they can do. There was a bit in the press the other day; some multi-billionaire paid about £37 in tax in a year. They need to cut down on that definitely. The PAYE people they’re being taxed left, right and centre Because they’re transparent. Their earnings are transparent, but the mega-rich aren’t. Why have we got tax havens? Why do we allow tax havens to exist? Large companies are allowed to strike up sweetheart deals with inland revenue you know? I’ve got a letter just behind me now From companies house saying you must send your accounts to us or you’ll get a fine and blah di blah
di blah and large companies? I mean everyone says ‘oh they employ lots of people’ and all that but The heads of the companies are amassing stupid amounts of money. You’re not endangering the Company by taxing them and making the people who own them give back a little bit more. Its a fallacy that you’re going to lose jobs if you raise taxes. You’re not worried that if Labour get into power they increase taxes on the richest and all of your customers, they flee to Monaco? Well I think we’ve tried the alternative for long enough now, we’ve been told about trickle down economics haven’t we for the last forty years? Margaret Thatcher said trickle down is going to make us all richer. It hasn’t happened. We’re still waiting to see evidence of that. There are people who are in work, in poverty. Food banks springing up. I can’t conceive of, when I was growing up foodbanks in this country. There’s enough wealth in this country it’s just not being distributed properly you know? Excuse me sir. Any thoughts on the general election coming up? Yes indeed. Hopefully the Tories don’t win will be my first principle behind it. What industry do you work in? Financial services Financial services, and how would you feel about a Labour government in this election? I’m pro it. I think they have a potential to re-energise this country to be honest. And would you be paying more tax under a Labour government? Yes I would be. And so does that put you at odds with many of your work mates? No, no funnily enough. I would say most people are prepared to pay a little bit more for better services to fix the issues We’ve got with the current government. 10 years of austerity and particularly Boris Johnson. And what do you say about the people who say ‘if Corbyn comes to power there’ll be a run on the pound there’ll be economic catastrophe? Well it’s not exactly the best times at the moment. The pound is not exactly riding high If the pound was high at the moment you could say legitimately that there might be a run on the pound. But, Let’s be honest it’s almost one to one against the euro, down against the dollar. What difference is Jeremy Corbyn going to make to overarching parts of policy? So have I found a banker for Corbyn then? Yes most definitely.


  1. One does not establish a dictatorship in order to safeguard a revolution; one makes the revolution in order to establish the dictatorship.

  2. Jesus, the Rees-Mogg sprog w/ umbrella was actually totally disoriented to discover that there might be another approach to thinking about public services than assigning waiting lists to the 'not to be discouraged from extreme retirement' column. James, what was left on the edit room floor from that exchange?

  3. I can’t believe how many uneducated, illiterate brainwashed communists there are in this country. Why are there so many people saying “vote for labour”? Do you really think they will solve the disparity of wealth in this country? Taxing the rich doesn’t help, it only makes it worse. When you tax the rich 70% it means two things. Either they leave the country elsewhere to a lower taxed country like Monaco or Singapore or they can’t afford to be taxed anymore. Where does that leave us? No money is going to be generated because who produces the wealth? The poor? No, the rich produces all the money. Then there would be a bankrupt government where they would have to print more money to keep the country running which would leave to a hyper inflation where prices go up and the value of the money goes down. Money would be worthless and our economy would demolish. Open your eyes. Think. Labour won’t help the poor. What they say may sound great but you aren’t smart enough to realise the reality.

  4. More BS … Investment creates wealth … As a business owner its common (in fact normal) to borrow to invest in new ideas i.e. opportunities.
    Spend to accumulate …

  5. The Gentleman at the end was a man with principles. He understands the importance of funding public services, even if it hurts his bottom line.

  6. There is no propaganda like capitalist regime propaganda! The way they brainwashed their citizens is without match in human history. They have constantly and systematicly done it so the handful of rich people on top can gain more wealth. The tragedy is that people swallowed the "red menace" story. Socialism has more in common with humanism that capitalism has. Goebbels said that if you repeat lie enough time it becomes the truth. If you don't like socialism (because of brainwashing) try humanism. You will see rich people reacting the same way – defamation of it. Humanism means taking care of each other like human beings, solidarity, equality… . When will people learn not to be slaves any more!? People should initiate and make referendum on heavy penalties for politicians who do not deliver on their promises in first three months (long inprisonment, monetary fine and banned from political work). That way you can get rid of ill and corrupt ones. Referendum on establishing strict and high penalties for the rich who are avoiding tax, zero tolerance on tax avoidance and bigger taxation for those who have more property and incomes (they did not aquired those by honnest doing).

  7. Notice it's the same story pretty much… most saying no Corbyn are giving off the one liners but they can't really explain it.

  8. I'm not in the City anymore but any City worker more concerned about paying a few percent more tax than about losing access to the single market for services needs to have their head checked

  9. 1:14 "We don't have the funds to renationalize all that they want to renationalize. Where's all the money going to come from?" I bet he never once questioned how much national revenue was spent to privatize the programs like the rail system and the postal service through PFI's which account for over half of UK debt.

  10. Oh this is gold! "He will bankrupt us", and then passing next to homeless guy without even noticing him. Apparently homeless guy don't belong to "us" so fuck him, let him die.

  11. Funny how these people never ask where the money is going to come from when we bailed out the banks or find a new country to bomb.

  12. Where's the money coming from? Read the manifesto! That's why it's fully costed. And it's backed by over a hundred economists.

  13. You guys at Novara need to get Adam Curtis on your show. I like how the man said there is no alternative to the current system but we all know that's a lie. He has done a lots of great documentaries which points to Politicians being able to change things in the past to now becoming managers whose jobs it is to keep things the way they are.

  14. I don't really understand the point of this video. If bankers are scared of a Corbyn government, that makes me more not less likely to vote for him.

  15. A Banker for Corbyn! Yay! The message really is getting out there. Good for him for thinking of others and not being greedy and narrow minded

  16. 1:55 Tries the”posh-voice-bullshit-steamroller” over waiting lists. Forgets that the age of deference is over; fails immediately.

  17. With the affable old Tory banker around 2 minutes in Michael should have brought up the industrial strategy & increased effective demand created by it & other redistributive policies; the role of taxes on the rich is over-emphasised in my opinion – wealth isn't produced in the financial sector it's produced by working people. That last guy had some basic economic knowledge his older class-bound compatriot seriously lacks.

  18. the economy is made up! "the funds to nationalise" things, imagine. capitalists can't pick up a factory or a hospital or a rail line, take that shit. national energy grid? BOOM. nationalised energy grid. easy.

  19. “Labour is going to do X”
    “Where will they get the money?”
    “Taxing the rich who have all the money.”

  20. The idea that the rich will run off is nonsense in so many ways. Just for starters, they already do. They move their money off shore into tax havens, etc., and then can live in UK without paying much tax. Or outright claim domicile outside, Non Doms, have a main residence in Monaco, but also live in UK, etc., just look at that fine specimen of a human being, Phillip Green. Or what's his name, the vacuum cleaner guy.

    They said same in France with the wealth tax, but it didn't happen, but that tax is a pittance anyway, but they still whinge. We (US + Europe) taxed these people 90% or more after the WWII, now they don't want to pay any tax ever. Taxing the wealthy also has the benefit of increasing money circulating in the economy, incentivises more investment into companies, training people, and yes, spreads the wealth better.

    In fact, we need a world wide agreement on highly taxing these people, closing loopholes, closing off shore accounts, cracking down on Swiss bank accounts, cutting any tax avoidance schemes, or at least an agreement with all of Europe and US to begin with. Just absolutely repulsive, these greedy people.

  21. "I don't think 4 million people are waiting for operations" – you clearly have private healthcare and have never ventured further than London and the home counties

  22. Watch the CORBYN/ ANDREW NEIL INTERVIEW…….. Corbyn is clearly a liar, con man, anti Semite and has no idea about tax or economics…… WORST INTERVIEW EVER

  23. Brilliant brilliant brilliant, just when I thought this video was just going to be about people refusing to say no to Corbyn the last 2 minutes lifted my spirit.

  24. Conservative twats and wankers: me, myself and I are successful and rich because we have made the right choices. It is all about character and hard work. Mr. Facts: the whole system was set up by and for twats and wankers like you, so you aren't successful and rich because you have made the right choices, but because you have a weak character and are an opportunist.

  25. If the system can be rigged the wrong way, which it is now, then it can also be rigged the right way. It is a matter of intelligent imagination and persistence. A matter of building a movement that is able to make the change happen. The beneficiaries of the rigged system will of course continue to defend their privileges agressively to uphold it for as long as they can, but the necessary change will happen. It is socially, economically and historically inevitable that it will happen, which is why the upholders of the present sytem are so aggressive defending it. Let us then be aggressive too. Action – reaction is after all a law of nature, and of people.

  26. One thing I've heard is that raising taxes on the rich to a certain point actually reduces tax revenue, because more of them get spooked into tax havens

  27. So they don’t pay tax, and they don’t actually trickle down any wealth. Why do we need these people in the county again?

  28. Trickle down economics is a flawed theory. If the bosses of Asda and Tesco leave the UK, do people stop buying food and clothes? No, Aldi and Lidl expands. And if they leave, the local corner shop or farmers market expands. Growth comes from the consumers – from the bottom up. A strong economy is one in which millions of working class spenders have a bit more money to spend across the local economy. A weak economy is one in which a handful of super-rich savers own the vast majority of wealth and stash it in foreign tax havens, idle bank accounts and buy Italian made sports cars.

  29. I don’t give a f**k about labour or conservatives but I see decency and public service at heart in Corbin so I will vote for him.
    Boris has been lying every single day about ever since 350 million per week NHS , to this day NHS not for sale, his kids , his relationship with American business Lady about influencing in her business etc.
    So there is not much choice any way!

  30. It’s not Labour who will be paying its us, all of us… it’s easy to tell people .. tax the rich and company’s, who do you think employ people. In the 70’s. It was tried and we ended up with 3M unemployment and no investment

  31. Arent labour the party that bailed out the banks plus in 2003 wasnt it labour who committed to less public spending than thatcher in her prime

  32. People on low incomes should be more scared about a labour government, while the cons have promised a tax lock and to increase threshold for national insurance, labour have already peddled back on the "only the 5%" this will only account for 5.3 billion of their now £130 billion spending let alone their trillions of borrowing, they will raise fuel duty, raise national insurance rate and due to the impending recession round the world, such radical spending would cripple the economy and send us back to the 1970s

  33. Bankers are projecting, they know what they've done and what they're still capable if left to their own devices. So they expect others to do the same to them. It's not taxing the riches, merely enforcing the laws, which in itself are not even respected in the 1st place. Labour and the left in general,need to learn how to spin,use the media warfare tools, just have the added value of informing, vulgarising to the general public.

  34. If anything is going to cause a run on the pound it is NOT JC it is a hard Brexit. The pound lost 20% just on the Brexit vote!

  35. Interesting video. For the next one I'd love to see something on assuming Labour wins the majority (and/or if they get a plurality and form a minority government with SNP, LibDems, etc.) how likely each of their policies are to be implemented since the Blairite faction of the party from what I can tell is sadly still quite strong.

  36. The gentleman in the shoe repair shop made the most sense. He in touch with reality more than the bankers. I totally agree with him, if wealth was distributed and managed properly we wouldn’t see the levels of poverty that we’re seeing 20 years into the 21st century.

  37. It's really funny seeing bankers trying to find an excuse for not liking Labour because they don't want to say "I just hate the poor"

  38. Well I’m optimistic for a government that will tax the rich, the neoclassical system is running to its death, and the point will come where which ever government will govern have to redistribute nonetheless and return to Keynesianism.

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