Welfare Britain? Tax Cuts to Crypto with Kwasi Kwarteng, former Chancellor of the Exchequer

Disruptors

Rob Moore

Careers, How To, Business, Self-improvement, Society & Culture, Marketing, Investing, Education, Entrepreneurship

4.8 • 1.4K Ratings

🗓️ 23 September 2024

⏱️ 77 minutes

🔗️ Recording | iTunes | RSS

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Summary

Rob is joined by the former Chancellor of the Exchequer Kwasi Kwarteng for a candid discussion on UK politics, economics, and the future of money. Kwarteng talks to Rob about his brief but tumultuous tenure as Chancellor, the challenges facing the UK economy, and the potential disruptions in global finance. Kwasi Kwarteng REVEALS: The reasoning behind his controversial tax-cutting plans The challenges of managing public spending His thoughts on the welfare state The difficulties in balancing social needs with economic sustainability His concerns about the current Labour government's economic policies Why Prime Ministers have less power than ever The potential future shift from fiat money to cryptocurrencies The risks and challenges of being a public figure in politics His perspective on the importance of maintaining a life outside of politics and the value of self-awareness for successful individuals BEST MOMENTS "We remember, we have a memory of, we don't remember the seventies, but growing up in the eighties, the socialism, Arthur Scargill, all of this stuff. And we know a lot of young people don't know this, but a lot of people our age know what a socialist government, what socialist ideas mean." "I think disruption is really, you won't get progress without disruption because people would just stick around doing exactly what, you know, they've done for ages." "Countries that grow fast, be they in Southeast Asia, United States, across the world have generally lower taxes. The Baltic states, Estonia, places like that." "I'm an entrepreneur and virtually every entrepreneur I speak to is leaving or wanting to leave or planning to leave. Yeah. And I can see why they're doing that." VALUABLE RESOURCES https://robmoore.com/ bit.ly/Robsupporter https://robmoore.com/podbooks rob.team Episode Sponsor - AG1 Claim your exclusive offer of AG1 at the link below drinkag1.com/disruptors 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/ Facebook: https://www.facebook.com/robmooreprogressive/?ref=br_rs LinkedIn: https://uk.linkedin.com/in/robmoore1979 See omnystudio.com/listener for privacy information. disruptive, disruptors, entreprenuer, business, social media, marketing, money, growth, scale, scale up, risk, property: http://www.robmoore.com

Transcript

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0:00.0	Quasi, is the UK broken right now?
0:03.6	Well, look, I think obviously the left, the Labour Party have come in and it's very much in their interest
0:08.8	to say everything is terrible, everything doesn't work.
0:11.8	Now I think the Conservatives and, know me I was involved in that
0:15.2	we got things wrong we have to accept that but there were some things we got right and
0:19.6	if you look at the GDP growth it's pretty competitive actually is it I think well the whole of the west it could be a lot better let me say that
0:27.0	obviously I tried with Liz trust and others to try and kick-start the growth but. But we're not doing worse than people in France or Germany.
0:37.8	I don't want to re-litigate Brexit, but the whole Brexit thing was about, oh well, you know, we should stay in Europe because they're doing better than us.
0:45.2	They're not doing better than us. So a lot of the problems we face, you know large immigration levels,
0:59.0	creaking public services, quite slow growth, all of these problems are faced across the West, particularly in Europe. And so if you say Britain is broken, you might as well say
1:06.7	Western Europe is broken. We all face challenges and obviously we've got to grip them.
1:12.4	So you said the conservatives did some
1:15.1	things right and some things wrong. Give us the summary of what you think you
1:19.6	the conservatives did right and wrong. So I think the problem we had was essentially for six
1:25.1	years we had this austerity narrative which was probably not the right narrative I don't disagree with austerity but I think
1:35.1	we exaggerated the extent to which we were restraining spending and then after
1:39.6	Brexit there was all hell broke loose and I'll give you an illustration of this. I was in
1:46.5	Parliament, Theresa May was the Prime Minister and out of the blue she called a general election I
1:52.2	don't know whether you remember it but the 2017 election came out of the blue she called a general election. I don't know whether you remember it, but the 2017 election came out of a clear blue sky. Nobody was expecting that.
1:57.0	And she went into the election with a majority and as a consequence of the election, we lost our majority.
2:05.0	So then we had two years where there was no majority in the House of Commons.
2:09.0	We were trying to get Brexit legislation through, and it was a mess. We didn't get anything through the house. We came up with a deal. She couldn't get the deal through and that ultimately was why she had to leave office.
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