Uploaded July 2026 | Updated September 2026, 3 weeks ago
Why have seven Prime Ministers come and gone in little more than a decade? Is Britain simply producing weaker political leaders, or is something much deeper going wrong?
In this video, I argue that the real story is not about personalities or competence. Instead, I suggest that the United Kingdom has been trying to govern with a political and economic model that effectively collapsed after the financial crisis of 2008.
The banking crisis did not just expose failures in the City of London. It also revealed the limits of an economic system built around finance, tax havens, neoliberalism and the legacy of Britain’s imperial past. Since then, every Prime Minister has inherited impossible political constraints:
- promises of growth without investment,
- better public services without funding, and
- national unity while the four nations of the UK increasingly pursue different political futures.
I also explore why the constitutional settlement is beginning to unravel, why Westminster seems unable to respond, and why simply replacing one Prime Minister with another will not solve Britain’s problems.
If the UK is to thrive again, I argue that we need a new constitutional settlement, an economy that works for people rather than finance, and a new politics built around care and hope.
Take a look at today's poll: youtube.com/post/UgkxGCd3TtqYbkZcTT4DVWuzH66rBjnsjiZh
00:00 Why Britain Keeps Changing Prime Ministers
01:02 Is Leadership Really the Problem?
02:08 The Turning Point: The 2008 Financial Crisis
03:34 The Collapse of Britain’s Old Model
04:50 The United Kingdom Is Changing
06:05 Neoliberalism and Impossible Government
07:28 Britain’s Growing Identity Crisis
08:55 Why Every Prime Minister Is Set Up to Fail
10:05 A New Constitutional and Economic Settlement
10:52 Politics of Care and an Economics of Hope
TRANSCRIPT
A transcript for this video is available at: 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. taxresearch.org.uk/Blog/2025/06/20/chatgpt-prompt-for-a-letter-to-your-mp
HOW TO SUPPORT US
Please consider donating: 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: taxresearch.org.uk/Blog
HIT SUBSCRIBE & GET NOTIFICATIONS
Subscribe and get notified of new videos released.
INTRODUCTION: youtube.com/watch?v=HdHsRPy3060
PLAYLISTS:
The Wealth Series
youtube.com/playlist?list=PLvRueM6wBgobQLeyZYAagFDMjEFTKbhRD
Ecenomics
youtube.com/playlist?list=PLvRueM6wBgob54Gs-fOL-8OAQ-IpduwB4
Britain
youtube.com/playlist?list=PLvRueM6wBgobwTT4ATvJjsf8OO6S7wD10
Tax
youtube.com/playlist?list=PLvRueM6wBgoaMni_12J6ULp3yUJisUZoY
Money
youtube.com/playlist?list=PLvRueM6wBgoYnLk1c7syTvoIo8bKYUs5m
Climate Change
youtube.com/playlist?list=PLvRueM6wBgob4_wsYaVivWd2WumpPLYwJ
USA
youtube.com/playlist?list=PLvRueM6wBgoYYd3dSyU2Oyl3x7bWJOP7H
Labour
youtube.com/playlist?list=PLvRueM6wBgoa-KhzG-fnjDSg1WROL1zMw
The Trump Administration
youtube.com/playlist?list=PLvRueM6wBgobz41-GLimTho27A3flVWQx
By Unknown photographer for Anefo - Nationaal Archief, CC0, commons.wikimedia.org/w/index.php?curid=107157406
By Allan Warren - Own work, CC BY-SA 3.0, commons.wikimedia.org/w/index.php?curid=25462297
By © European Communities, 1975, CC BY 4.0, commons.wikimedia.org/w/index.php?curid=87913384
By Unknown photographer - UK National Archives - Direct image link, OGL 3, commons.wikimedia.org/w/index.php?curid=105190898
By Lauren Hurley / No 10 Downing Street - gov.uk/government/people/david-cameron, OGL 3, commons.wikimedia.org/w/index.php?curid=140716116
By Roger Harris - members.parliament.uk/member/8/portrait, CC BY 3.0, commons.wikimedia.org/w/index.php?curid=153648438
By Ben Shread / Cabinet Office, OGL 3, commons.wikimedia.org/w/index.php?curid=83764351
By Simon Dawson / No 10 Downing Street, OGL 3, commons.wikimedia.org/w/index.php?curid=170750171
By Simon Walker / No 10 Downing Street, OGL 3, commons.wikimedia.org/w/index.php?curid=132830566
By Simon Dawson / No 10 Downing Street, OGL 3, commons.wikimedia.org/w/index.php?curid=150514119
By House of Commons - members.parliament.uk/member/1427/portrait, CC BY 3.0, commons.wikimedia.org/w/index.php?curid=195931017
Why have seven Prime Ministers come and gone in little more than a decade? Is Britain simply producing weaker political leaders, or is something much deeper going wrong?
In this video, I argue that the real story is not about personalities or competence. Instead, I suggest that the United Kingdom has been trying to govern with a political and economic model that effectively collapsed after the financial crisis of 2008.
The banking crisis did not just expose failures in the City of London. It also revealed the limits of an economic system built around finance, tax havens, neoliberalism and the legacy of Britain’s imperial past. Since then, every Prime Minister has inherited impossible political constraints:
- promises of growth without investment,
- better public services without funding, and
- national unity while the four nations of the UK increasingly pursue different political futures.
I also explore why the constitutional settlement is beginning to unravel, why Westminster seems unable to respond, and why simply replacing one Prime Minister with another will not solve Britain’s problems.
If the UK is to thrive again, I argue that we need a new constitutional settlement, an economy that works for people rather than finance, and a new politics built around care and hope.
Take a look at today's poll: youtube.com/post/UgkxGCd3TtqYbkZcTT4DVWuzH66rBjnsjiZh
00:00 Why Britain Keeps Changing Prime Ministers
01:02 Is Leadership Really the Problem?
02:08 The Turning Point: The 2008 Financial Crisis
03:34 The Collapse of Britain’s Old Model
04:50 The United Kingdom Is Changing
06:05 Neoliberalism and Impossible Government
07:28 Britain’s Growing Identity Crisis
08:55 Why Every Prime Minister Is Set Up to Fail
10:05 A New Constitutional and Economic Settlement
10:52 Politics of Care and an Economics of Hope
TRANSCRIPT
A transcript for this video is available at: 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. taxresearch.org.uk/Blog/2025/06/20/chatgpt-prompt-for-a-letter-to-your-mp
HOW TO SUPPORT US
Please consider donating: 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: taxresearch.org.uk/Blog
HIT SUBSCRIBE & GET NOTIFICATIONS
Subscribe and get notified of new videos released.
INTRODUCTION: youtube.com/watch?v=HdHsRPy3060
PLAYLISTS:
The Wealth Series
youtube.com/playlist?list=PLvRueM6wBgobQLeyZYAagFDMjEFTKbhRD
Ecenomics
youtube.com/playlist?list=PLvRueM6wBgob54Gs-fOL-8OAQ-IpduwB4
Britain
youtube.com/playlist?list=PLvRueM6wBgobwTT4ATvJjsf8OO6S7wD10
Tax
youtube.com/playlist?list=PLvRueM6wBgoaMni_12J6ULp3yUJisUZoY
Money
youtube.com/playlist?list=PLvRueM6wBgoYnLk1c7syTvoIo8bKYUs5m
Climate Change
youtube.com/playlist?list=PLvRueM6wBgob4_wsYaVivWd2WumpPLYwJ
USA
youtube.com/playlist?list=PLvRueM6wBgoYYd3dSyU2Oyl3x7bWJOP7H
Labour
youtube.com/playlist?list=PLvRueM6wBgoa-KhzG-fnjDSg1WROL1zMw
The Trump Administration
youtube.com/playlist?list=PLvRueM6wBgobz41-GLimTho27A3flVWQx
By Unknown photographer for Anefo - Nationaal Archief, CC0, commons.wikimedia.org/w/index.php?curid=107157406
By Allan Warren - Own work, CC BY-SA 3.0, commons.wikimedia.org/w/index.php?curid=25462297
By © European Communities, 1975, CC BY 4.0, commons.wikimedia.org/w/index.php?curid=87913384
By Unknown photographer - UK National Archives - Direct image link, OGL 3, commons.wikimedia.org/w/index.php?curid=105190898
By Lauren Hurley / No 10 Downing Street - gov.uk/government/people/david-cameron, OGL 3, commons.wikimedia.org/w/index.php?curid=140716116
By Roger Harris - members.parliament.uk/member/8/portrait, CC BY 3.0, commons.wikimedia.org/w/index.php?curid=153648438
By Ben Shread / Cabinet Office, OGL 3, commons.wikimedia.org/w/index.php?curid=83764351
By Simon Dawson / No 10 Downing Street, OGL 3, commons.wikimedia.org/w/index.php?curid=170750171
By Simon Walker / No 10 Downing Street, OGL 3, commons.wikimedia.org/w/index.php?curid=132830566
By Simon Dawson / No 10 Downing Street, OGL 3, commons.wikimedia.org/w/index.php?curid=150514119
By House of Commons - members.parliament.uk/member/1427/portrait, CC BY 3.0, commons.wikimedia.org/w/index.php?curid=195931017
