Bankrupt countries don't have welfare states

Back in the 50s, 60s, 70s, 80s, the government of this country had a lot of wealth. You know, it owned schools, it owned hospitals, and that meant it could provide public services. That collapsed during the 90s and 2000s, and then during COVID, massively collapsed negative. Where has that wealth gone now? There is a phenomenal naivety about wealth in the economic conversation now. If you do not get that wealth back, you have no choice but to shut the welfare state down, which is why I was screaming at government before the election. I was screaming at the Labour Party, because we knew they were coming in. listen, you need to do something about taxation, you need to do something about wealth. They were naive to that. They've walked into the situation. They've got no wealth. They're bankrupt. The rich are super rich. They are unwilling to tax them. And now they are left with basically no choice but to shut the welfare state down. Listen, this is what happens if you are naive about wealth. Wealth is hemorrhaging from government, from the middle class to the rich. If you do not stop that flow of wealth, you have no choice but to shut down the welfare state that our grandparents and great-grandparents fought and died for.