The Peter McCormack Show #127 - Ewen Stewart - The Leviathan State, Civilisational Decline & the Way Back
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Nov 11, 2025 Ewen Stewart, a sharp economist and public policy commentator, dives deep into the UK’s economic woes. He discusses the detrimental effects of bloated state spending, skyrocketing debt, and overregulation on growth and innovation. Ewen highlights a troubling brain drain as talent and wealth exit the country. He draws lessons from fiscal policies in Ireland and Eastern Europe, advocating for radical reforms and targeted tax cuts. The conversation also explores the moral impact of the welfare state and the urgent need for accountability within the civil service.
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Britain Failed To Spawn New Giants
- Britain has failed to generate new global tech champions; major firms are legacy incumbents.
- Stewart argues cultural and regulatory barriers destroyed incentives for unicorn creation.
Young Talent Is Voting With Their Feet
- Many bright young Brits leave for the US, Dubai or Singapore seeking lower taxes and appreciation.
- Stewart notes this brain drain often becomes permanent and shrinks the country's talent pool.
Front‑Load Big Cuts And Target Tax Cuts
- Cut £100–150bn of public spending quickly and share the pain across society.
- Use most savings to fund targeted tax cuts that incentivize private investment and job creation.
