The Peter McCormack Show #074 - Jasmine Birtles - The Broken Welfare State
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May 15, 2025 
Jasmine Birtles, a financial expert and founder of Money Magpie, dives deep into the cracks in Britain's economy. She discusses the broken welfare system, the pitfalls of Universal Credit, and the urgent need for financial literacy in schools. Jasmine critiques rising taxes and government spending while predicting a potential economic crash as a catalyst for reform. Exploring Bitcoin, gold, and the stigma around wealth, she emphasizes the importance of informed financial choices to empower individuals and shift societal attitudes towards money.
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Tax Avoidance and Wealth Demonization
- Big tech companies avoid paying UK taxes by locating profits in low-tax countries.
- Demonizing wealth creators risks driving them away, worsening economic issues.
Learn Personal Finance Basics
- Everyone should learn basics of personal finance and investing early to secure financial stability.
- Understand investing and compound interest to grow money effectively over time.
Financial Illiteracy in UK Culture
- Many people in the UK admit to poor money skills due to cultural norms.
- Understanding compound interest earlier could have made a major difference in financial outcomes.