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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Cultural Attitudes to Money
- British culture tolerates poor money skills and discourages financial confidence.
- In contrast, Asian cultures value numerical skills and financial success highly.
Two-Tier Benefits Problem
- The benefits system has two tiers: some people struggle greatly, others exploit it heavily.
- This undermines taxpayers and creates unfair financial burdens.
Criminals Exploit Welfare System
- Police avoid arresting street drug dealers who claim to be slavery victims.
- This loophole lets criminals exploit the system and tarnish the community.