Bank of England ‘Sorry’ for Rising Cost of Living 🧐😳
In this solo YouTube commentary, Rob reacts to the Bank of England governor’s public apology for the rising cost of living. He critiques the official narrative that inflation is only 3.1% and that interest rates remain low (0.5%), arguing that real inflation is far higher—potentially 10‑15%—based on soaring wholesale gas prices (up 400%), a decade‑high in global food costs, and dramatic increases in construction materials. He warns that taxes (corporate tax, National Insurance, and likely income tax) are set to rise sharply, stressing the fiscal strain on households and businesses. Drawing on his own experience as a property developer and self‑described deca‑millionaire, he offers five concrete actions to protect personal wealth: (1) negotiate pay rises or raise prices with added value; (2) tighten spending and adopt budgeting; (3) invest in appreciating, income‑generating assets; (4) start or scale a side‑hustle; and (5) build a personal brand and acquire digital real‑estate (domains, crypto, NFTs, metaverse). Throughout, he repeatedly urges viewers to share the video, comment on their own inflation perception, and engage with the content. The piece blends economic commentary, personal anecdote, and motivational entrepreneurship advice.
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So we have breaking news that the Bank of England are sorry for the rising cost of living, and I want to share with you the severity of the increase in the cost of living and 5 solutions on what you can do about it. So the current governor of the Bank of England has said that he's sorry for that the cost of living is rising. Um, it was expected that the Bank of England would increase interest rates, and it surprised many that they didn't. And one of the reasons for rates not being increased was to see how the job market plays out, because obviously we've just come out of furlough, um, and how will that affect the jobs market? So rates have been held at 0.5%, the, the lowest historical, um, interest rates. They've been this low for pretty much 10 years now. Sean has just said here that inflation will slow— it will slow— and this is the big challenge. So they say the interest rates are cut— sorry, yeah, inflation. They say that inflation is currently— yes, 0.1%. Do you know what? Wake up, Rob, get it right. Interest is 0.1%. I knew that. And inflation is likely to soar. Now, inflation is apparently currently 3.1%, but my first kind of warning I want to share with you is that that is nonsense to me. Now, it might be an official line or term, but, um, it's definitely predicted to hit 5% or more. But in real terms, I believe it's a lot more. And this is one of the reasons why I wanted to share this with you. For example, Food costs globally are the highest they've been in 10 years. Gas, wholesale gas has gone up 400%, and our, um, you know, gas and electricity prices have gone way up. Trades— I'm doing a development of 99 apartments and another one of 45 apartments, and windows and doors are up 50% or 70%. So, you know, inflation might be 3.1%, they might be predicted to rise to 5%. That might be historically high, but honestly, in reality, with the cost of living, the cost of goods, the cost of services, the, the lack of supply chain— in reality, your increased cost of living could be 10%, could be 15%, could be much more. So I wanted to give you a dose of reality because I believe this to be the case. You, you can't— let me know in the comments what you think. Do you think actual real cost of living is up more than 3.1%? Give me a yes or no. If you think I'm on crack, tell me, by the way. So in reality, do you think your general cost of living has only gone up 3.1%? Because mine hasn't. Someone just tried to charge me £450,000 for a keynote speech. I mean, everything seems to have gone up. Like I said, doors and windows for our developments are up 50% and 70%. Food is way up. So let me know what you think real inflation is. By the way, hit the share button. I think it's really important to get this out to the masses. You know, I know that there's official lines and, you know, governmental tracking of what inflation really is, but I think also you— we've got to look at what the reality is on the ground, how it actually really affects us. So I am going to give you a solution though. In fact, I'm going to give you 5 solutions. But first, hit the share button and let's, um, get this message out to more people. Because, you know, I'm a pretty positive guy. I always like to give you opportunity. I always like to tell you what you can do. I'm not a glass-half-empty or negative guy. I'm not a doom-monger. But honestly, I think we must prepare ourselves for higher than 5% inflation. Higher than 5% cost of living. Higher than 5% increase in taxes. Oh my life. I mean, corp tax went up from 19% to 25%, which is pretty much a 30-plus percent rise in corp tax. National Insurance went up a couple of percentage points, but in reality, a big hike as an actual percentage. They're going to put income tax up. How could they not put income tax up? The government has something like £3 trillion in debt. They pay 3-5% interest on that. So the government haven't got any money. They're in deficit. So where are the government going to get their money from? Ask us! Let me know what you think in the comments. Steve has just said here he thinks the real actual cost of living is way higher. I agree. Okay, so let me summarise what's going on here. The Bank of England governor has said he's sorry that there's a rise in cost of living. I'm sorry too. Um, and, uh, um, people were surprised that they didn't put interest rates up, but their reason— partly the reason for not putting rates up was obviously we've just come out of furlough and they want to see how that affects the jobs market. It's predicted that rates will go up at the next budget. We will see. Apparently inflation is currently 3.1%, predicted to be 5%. I think in real terms it's way higher. Why? Gas supply. So, um, Wholesale gas prices went up 400% at one point. Global food prices are way up, 10-year high in fact. Your— our gas and energy bills are going way up. Trades, materials, supply chains, etc., are up 50 or 100%. So Sean has said here that history is about to repeat itself and no one is prepared for this. This is why I wanted to do content on this, so make sure you share this with as many people as possible. I'm a positive guy, but we need to have a fair warning and we need to be realistic. Taxes could be crazy. Yes, shop at Lidl. That's one way. And but what if you want to live long and eat healthy? You know, I actually don't— I'm not necessarily thinking that you should just cut all your expenditure. That's actually not good for the economy either, um, or even your own economy. All right, I think taxes are going to go up a lot. Let me know in the comments if you think taxes are going to go up. Right, so what can you do about it now? Now I'm going to bring you some opportunity and positivity, here are 5 things you can do about it. And one of them I don't particularly like, but it's got to be said and it's got to be done. If you're employed, maybe you're going to look for your pay rise if you've not had one for a while. You know, you're supposed to get inflationary pay rises. Maybe you need a 5-10% pay rise if you haven't had one. Now, I'm not a fan, as an employer of nearly 100 people, people coming to me and saying, oh, I want a pay rise because I need more money. I am a fan of people coming to me and saying, hey Rob, I think I can make the company 50 grand. My salary is 25. If we could make the company an extra 50 grand, would you put my salary up to 30? If someone came to me and did that, then I would probably be very open to giving them an increased pay rise as long as it was a realistic proposition. So first thing is, you've probably got to go for a pay rise. You've probably got to put your prices up. I'm not a fan of putting my prices up on my clients and my tenants, but generally it's the clients and the tenants and the end users that end up suffering when taxes go up and prices go up, etc. But actually, you know, many people I know who are entrepreneurs, they don't put their prices up for years. They don't put the prices up for years. So, um, you know, have you put your prices up recently? Let me know in the comments, a yes or no, if you've put your prices up recently. Maybe you've got to consider putting your prices up now. I think a great way to put prices— because what we don't want is the domino effect. They charge us more, we charge our clients and tenants more, and everyone loses. If you're going to put your prices up, offer some extra value, create more of a community, more for your products and services. Um, by the way, hit the share button if you're finding this useful. I think these messages are vitally important. I think there could be blood on the streets for entrepreneurs, business owners, even people who are employed. I think it could be really hard because I can't see how the government are going to make any more money other than taxing us big time. They're in a massive deficit. Even just the interest on 3 to 5% of trillions— someone has said in this comment, that's why they're not putting interest rates up. So yeah, you know, we have got some signs of a possible correction going on here. Okay, the second thing is there's things that you need and things that you don't. There's things that have gone up in price and there's things that I haven't. So be careful on not buying things you don't need and try not to spend too much money on things that have gone up a lot in price. And use your money more wisely. So this is a good opportunity for you to start doing a bit of budgeting. Do you do a personal budget? Give me a yes in the comments if you do a personal budget. Do you do company budgets and targets? Give me a yes if you do and a no if you don't. Most people don't do personal budgets and company budget— budgets and forecasts. I think it's important that you do that more and more. Okay, the third thing then is you need to start investing um, capital into assets that appreciate in value. So it's a bit of a trap for you to try and continue to rely on exchanging your time for money. There's nothing wrong with it, and if you get paid really well, then that's good. But if costs are going up and you can't get your prices up enough with costs, you're working the same for less, or you're working more for less. So what you need to do is invest in assets that produce recurring income. The The assets go up over inflation, and the recurring income gets you out of the trap of working more but earning less because of inflation, increased taxes, etc. Okay, the fourth thing you could probably do to combat this increased cost of living is to start and scale your side hustle. Give me a yes in the comments if you already have a business and you're an entrepreneur. Give me a no if you're not yet. If you're not, start a side hustle. Start by selling stuff on eBay and Depop and move into e-commerce. Start by putting content out there on social media and building your personal brand and turning on the monetization tools. Get into the digital revolution of, for example, cryptos and NFTs and the metaverse and monetizing subscription platforms, etc. And then that leads me to my fifth point. And my fifth point is to build your personal brand and build your digital real estate portfolio. Now someone has said, yeah, I make it sound so easy. That's my job. It's not supposed to sound hard. Um, easy to do, easy not to do, and easier said than done. But to know and not to do is not to know. So suspend how hard you might think it, because you've got to do what's got to be done. So, um, if you have, um, good followers on social media, if you put good content out there and you can turn on supporters and stars and coins and badges and premiums and subscriptions and Patreon and Kajabi, and you can start to monetize all your platforms then you create content, you repurpose that content, and you have multiple streams of income from your content. And in the digital real estate revolution, of course, we've got cryptos and NFTs and the metaverse and domain names in all these new platforms. You know, you've got your.clubs that recently went quite big. There's going to be this big land grab in the metaverse. So jumping into this new early adopter world You know, I'm definitely not making any investment recommendations, but imagine if you'd put a disposable amount of income, risk capital that you could afford to lose, into each altcoin. Um, you know, Shiba went to the moon, you know, when ETH went to the moon, when XRP went to the moon, when Doge went to the moon. If you just put a bit of risk capital into each one of those, you'd have made a shitload of money by now. Now, I didn't because I didn't know anything about it. But actually, with risk capital, i.e., money you can afford to lose, there's kind of not really much harm in putting a bit here and putting a bit there and putting a bit here and putting a bit there. You know, like I said, it's not financial advice, but, um, for example, people happily put the lottery, or they'll, um, go out on a night out, or they'll bet. Stop betting, stop putting on the lottery, stop spending a load of money on drink, and you could chuck them into altcoins. You could put them into domain names, and then as you put them in, you learn more about them and you get a better knowledge of digital real estate. And this new world we're in, something's going to go to the moon for you for sure, because we're in the early adopter rise. It's like the NASDAQ, um, you know, um, or the dot-com boom. We're literally right in that right now in the metaverse and in the, um, digital real estate. Someone has asked me here what's my net worth. My wife, my business partner, my accountant said to me, never reveal your net worth. What I can tell you is this more than 10 million and less than a billion? And it's a fair bit more than 10 million, and it's a fair bit less than a billion. So I can tell you that. But, uh, you know, no one who is, um, a respectable entrepreneur reveals their net worth. Um, someone has just asked, why don't you reveal your net worth? There's many reasons. It depends on your tax strategy. It depends on— you know, a lot of people, when you reveal that you're worth a lot of money, want to kind of know you for your money and to change their view of you. There's lots of reasons why I talk openly about money and things that I earn and money that I make, and when I became a millionaire and a deca-millionaire, I just don't share my net worth. And also, I respect my wife, my business partner, and my accountant. So if they say don't, I don't. But I don't mind you asking, and I don't mind answering the question in my way. So if you're finding this content useful, please like, um, and hit the share button. Why? Because I think that if people aren't prepared for a big rise in inflation, a coming rise in interest rate rises, and in reality a much higher cost of living than we're told to believe. I think if we don't prepare each other for that, there could be blood on the streets, especially, um, self-employed people, tradespeople. You know, trades have gone up massively, but of course it's gone up because their supply has gone up. So let's help each other. Hit the share button and I'll just do a quick summary. Gemini's just asked, what start— what age did I start making good money? I was 50 grand in debt at the end of age 25, stroke 26. So a month before my 26th birthday, I was 50 grand in debt. Within a year, I got out of that debt and made my first 100 grand. Within another 3, by age 31, I became a millionaire. And then I became a deca-millionaire, um, which is 10 million plus net worth by age 35. I'm now 42. So there you go, there's a bit of a flavor there. So summary of the content I've covered— please do hit the share button. I know I've asked you a few times, but look, I don't usually ask you to share my own content and how-to information, I'll leave that to you. But when it's stuff that affects all of us that we don't have control over because it's the government and the system, and you know what's happened with COVID and everything else, we've got to prepare each other. So the Bank of England have said sorry for the increased cost of living. The governor has said he's sorry that this is happening. Many people were surprised that the rates didn't go up. The story and the reason in part for the rates not going up was that wanted to see how the job market copes after furlough ends. Apparently inflation is 3.1%. I say, yeah, right. Give me a yes if you think inflation is 3.1%. Put BS in the comments if you think inflation is a lot more in real terms. I say BS. Real inflation, real cost of living is not 3.1%, not in my view, not in my experience. Um, so inflation is predicted to go up to 5%, but I think in real terms it probably means that your cost of living has gone up 10% or more. So you have to get ready for that. Gas prices— wholesale gas prices went up 400%, and all of our end-user gas prices have gone up a lot. Food is at a 10-year high. Trades and materials have gone way up. Developers are going to struggle. Developers are going to probably go bust with the increase in prices. So get ready for a tax rise. Corp tax has gone up from 19% to 25%. That's a 30% rise. NI went up, income tax is probably going up. Now look, am I saying that's right or wrong? Well, obviously I'd rather it not the case, but I understand that we're in difficult times. So I can moan about it, and we— you and I here together can be pissed off about it, or we can rally ourselves and our troops and share this content with many people, and we can create solutions. And here are my 5 solutions. I believe if you do these 5 things, you're not just going to survive through these difficult times and the possible crash coming, but you actually could thrive and make a difference as well. Number 1, sorry to say this, but you've probably got to put your prices up. If your prices keep getting put up on you, you've got to put your prices up. Maybe 5%, maybe 10%. Um, if you are an employee, you've probably got to ask for a pay rise now. I think you don't put prices up or ask for a pay rise without giving value. That's not how the world works. So don't just try and slam your prices up without any justification. Because if, if, you know, if I said to you, I'm putting my prices up on you because everyone else has put their prices up on me, well, you don't care about that, and that's going to piss you off. That's not a, a viable reason for you. So offer more value, add more value, and put your prices up in line with the extra value, because price is always about value and not about price. Although it's also about supply and demand. Um, and then if you're employed, ask for a pay rise, but show how you can make the company 10 times your pay rise. and then everyone wins. Number 2, don't spend money on all these things that have gone up a lot in price. Be careful with how you, um, live day to day and just try and move your spending away from things you don't need that have gone up a lot in price if you can. Which leads us to number 3, and then any disposable income you get, you've got to invest into assets because assets usually go up above inflation as long as they're the right ones. and you get recurring income from assets. So no matter how much prices go up, you still get recurring income. You don't want to be in the trap of having to work more for the government because the tax has gone up and the NI has gone up—corp tax, income tax. So if you think about it, if taxes go up and prices go up, you're working more for the government than you are for yourself. I've actually worked out across all my earnings from a corporate and a personal point of view and what I spend, about 70% of that is in tax. 70%. That, corp tax, NI, income tax, tax on all the things that I buy and other bits and bobs, business rates, yada yada yada. All right, 70%. So of the work that I'm doing, 70% of that is in for the government. So if it goes— if taxes go up, and you don't work less or have passive recurring income, you're just working more for the government. Then you're like, I'll do overtime. You're working even more for the government. So, so what you do is you invest in assets that produce recurring income, and you take profits from them, assets, to invest in more assets, create more recurring income, and they grow without you having to get stuck in the time trap of working for the government. Okay, number 4 then is you start a side hustle or you start or scale your business because you control your prices, you control what you offset against tax to get your tax bill down. So we have capital allowances and other tax reliefs. So I would definitely pay more tax pound for pound if I was employed because the government give us incentives so that we can start our business. Without the entrepreneurs, a lot of the funding from the— for the public sector wouldn't happen. So start your side hustle, scale your business, um, and then maybe even one day become full-time in business. Let me know in the comments, are you employed, do you have a side hustle, or are you a full-time entrepreneur? Employed, side hustle, entrepreneur— let me know in the comments. And then number 5 thing you can do is you need to build a personal brand and get into digital real estate. So start doing content on social media As you build a following and people follow you for your content and your niche, then what will happen is they'll donate stars to you, they'll join your subscription platform, they'll donate coins to you, they'll subscribe to you, they'll pay for your premium content, and you could start earning thousands a month from the content that you're either not doing or you're already doing. And then start investing money back into digital real estate, not just physical real estate. Domain names, cryptos, NFTs, the metaverse. Coins, etc. Not investment advice, um, but you know, if you invest risk capital, then, um, it's likely that some new assets in the metaverse or the crypto space is likely to go big. I know a lot of people who don't have a lot of business savvy who've made tens of millions or hundreds of millions from crypto because they just got in early and they just took a bit of a risk. But just make sure you invest money you can afford to lose, especially in the altcoins. So thanks for tuning in. Please hit the share button. I want as many people as possible to get this fair warning. Taxes are not going down, they're going up. Cost of living is not going down, it's going up. Inflation is not going down, it's going up. Interest rates are not going down, they're going up. You fucking know it. And if we're not prepared, then basically we're going to be working longer hours for the government and earning less, working more. And that's a trap. So please hit the share button, and if you're watching here on Facebook, thanks for following me. I love you all, and I'll see you soon. Remember, if you don't risk anything, you risk everything.
