Episode description
Episode description
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Former UK Chancellor Kwasi Kwarteng joins Rob in this episode for a candid discussion about Labour's recent budget, the state of the UK economy, and the future of money.
They discuss Rachel Reeves' £40 billion tax hike and explore the implications of a cashless society whilst Kwarteng also gives his thoughts and insight from his time at the Treasury. His candid analysis of socialism, entrepreneurship, and global economic trends makes this episode essential for anyone interested in understanding where Britain's economy is heading!
Kwasi Kwarteng REVEALS:
· Labour's recent budget represents the largest tax hike since 1993, with £25 billion coming from employers' national insurance contributions
· Why the budget could stifle economic growth and job creation
· Why China could potentially become the world's next reserve currency power
· The UK and other European countries are caught in a "doom loop" where slow growth leads to higher taxes, which further reduces growth potential.
· Modern socialism still operates on Marxist principles of class warfare, setting workers against employers, despite their shared interests in economic success
· Why the shift toward a cashless society poses significant risks to personal freedom and financial privacy while making budgeting more difficult for individuals.
· The housing crisis in Britain requires significant planning reform, but political resistance and short-term thinking have prevented meaningful progress
· World Wars I and II fundamentally transformed the relationship between state and citizen, leading to permanently expanded government spending and taxation
BEST MOMENTS
"You're never going to get the growth in the next two or three years that they need. And the risk for them is that in two years time, they come up with more tax raises, which will damage the economy more."
"If we all refuse to shop anywhere where they didn't take cash, they would all take cash."
"The Chinese have got tons of gold, I mean metaphorically and really, and they could say, okay, now not saying they will do this, but there's a world in which they could say, right, we're gonna back the rebi with gold."
"If we all didn't watch BBC or pay for the TV licence, all of us, mainstream media in the UK would change overnight.”
VALUABLE RESOURCES
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ABOUT THE HOST
Rob Moore is an author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor, and property educator. Author of the global bestseller “Life Leverage” Host of UK’s No.1 business podcast “The Disruptive Entrepreneur”
“If you don't risk anything, you risk everything”
CONTACT METHOD
Rob’s official website: https://robmoore.com/
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LinkedIn: https://uk.linkedin.com/in/robmoore1979
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