{"id":83526,"date":"2025-06-27T17:40:56","date_gmt":"2025-06-27T16:40:56","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=83526"},"modified":"2025-06-27T17:40:56","modified_gmt":"2025-06-27T16:40:56","slug":"labours-black-hole-isnt-about-money","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2025\/06\/27\/labours-black-hole-isnt-about-money\/","title":{"rendered":"Labour\u2019s black hole isn\u2019t about money"},"content":{"rendered":"<p class=\"p3\">Keir Starmer and Rachel Reeves talk endlessly about fiscal black holes\u2014but that\u2019s not Labour\u2019s real problem. In this video, I argue that the real crisis lies in the party\u2019s loss of purpose, ethics, and vision for Britain. It\u2019s time to ask what Labour is <i>really<\/i> for.<\/p>\n<p><iframe loading=\"lazy\" width=\"560\" height=\"315\" src=\"https:\/\/www.youtube.com\/embed\/guxzudkCurc?si=AKyd7R-wuaqyaqQE\" title=\"YouTube video player\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p>There is no audio only version of this video.<\/p>\n<p>This is the transcript:<\/p>\n<hr \/>\n<p>Labour spends a lot of time talking about black holes. Of course, what Keir Starmer and Rachel Reeves are talking about are fiscal black holes, as they would put it. \u200aThat means the deficit that is run by the government because its income is smaller than its spending.<\/p>\n<p>But the truth is that that is not the real black hole that the Labour Party faces.<\/p>\n<p>The real black hole that the Labour Party is facing is the fact that \u200ait has no moral compass.<\/p>\n<p>It has no understanding of what it's about.<\/p>\n<p>It has no concept of leadership.<\/p>\n<p>It does not know what it is trying to do.<\/p>\n<p>If the \u200aLabour Party was genuinely a Labour party in the form that it once was, it would be talking about how it was going to address inequality in the UK.<\/p>\n<p>It would talk about how it was going to address poverty in the UK.<\/p>\n<p>It would talk about how it's going to create opportunity in the UK.<\/p>\n<p>It would talk about how it is going to build the missing infrastructure that the UK requires, like \u200asocial housing, in particular, but also schools, hospitals, and that which is necessary for climate change.<\/p>\n<p>Those are the things it would be talking about.<\/p>\n<p>It wouldn't be talking about money. That's the language of bankers and business, and people have never voted Labour because they believe in bankers and business, and make them their priority.<\/p>\n<p>People want to vote Labour because they think Labour should be ethical.<\/p>\n<p>Well, if Labour isn't ethical, and there are no signs that it is, it's time for people to think again.<\/p>\n<p>We need a politics of care in the UK.<\/p>\n<p>A politics that delivers for people.<\/p>\n<p>A politics that respects people.<\/p>\n<p>A politics that respects that not everybody lives in London.<\/p>\n<p>A policy that respects Scotland, Wales, and Northern Ireland, and people in the north of England, in the Southwest, East Anglia and elsewhere, as well as in London.<\/p>\n<p>A policy that reflects the fact that a government understands that its priority is protecting people, and protecting people is not just about buying bombs, aircraft and nuclear missiles. Protecting people is about making sure they have a home, they have an income, they can meet their bills, they can provide meals for their children, and they can have hope for the future.<\/p>\n<p>Labour has forgotten that that is what governing is about, and that's why I make so many videos criticising Labour, because it's forgotten what its purpose is, but I have not.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Keir Starmer and Rachel Reeves talk endlessly about fiscal black holes\u2014but that\u2019s not Labour\u2019s real problem. In this video, I argue that the real crisis<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2025\/06\/27\/labours-black-hole-isnt-about-money\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,16,118,106],"tags":[],"class_list":["post-83526","post","type-post","status-publish","format-standard","hentry","category-economics","category-ethics","category-labour","category-politics"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/83526","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=83526"}],"version-history":[{"count":2,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/83526\/revisions"}],"predecessor-version":[{"id":83531,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/83526\/revisions\/83531"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=83526"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=83526"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=83526"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}