Hello and welcome...
I reckon your a fellow Canuck.. by the princess motor you have...I have one aswell, good motors...
Overall you have a cool looking kart... very neat and tidy... However..
(Sorry for the winded post but some good thoughts here...)
-First thing I see off hand is the way you have the cable routed on your throttle and brake...
That there is a big no-no.... Like kinda dangerous as far as the brakes go..... Your lack of good braking power is that you dont have a cable sheath, Your using just aircraft cable...
If it had pulleys at the routing points then Id say ok... but if this rubs and breaks.. then you dont/cant stop...
-Part of the braking problem is the cable situation above.... Some other issues are the calipers itself. They are a bit of a pain to setup right. Pads need to be sanded to the disc when new. That helps them bed to the disc. The calipers need to be mounted in a way to allow them to float, or the disc to float.. not hard mounted.... Clean all fingermarks and greases with brakleen, just as any car..
-The throttle. You have it routed in a way that can give poor response and/or itll break shortly.... In a needed way that could cause an accident... Once again you need a cable with a sheath, not so many bends, but just a graceful loop to the throttle plate...
-Ratio. I reckon you'll not be able to fit a 72(Im going to guess this a #35 chain you are using..) so augmenting the ratio might be a challenge, but you do have a bit of space for a jackshaft if needed...
-You have your motor rubber mounted.... It needs to be hard mounted, as in right to the mounting plate/frame.... Its going to vibrate, possibly shake a bit.. but that's the nature of the beast. This can cause unnecessary wear on the whole drive-train. The motor can bounce around, the slap can cause the chain to slip and wear the teeth on the clutch and drive sprocket, Itll also cause unnecessary wear/stretch to the chain... then exacerbate the whole drive line situation...
So to recap..
Oil clutch bushing every 2 hrs of use. A few drops of oil at the snap ring, no spray oil of any kind, just drops.....
Try using a brake cable from a bicycle shop/Walmart/ Cantire, they typically have a package of universal length cable with a cast barrel fitting on the one end... I use those all the time for my setups...That'll fit for the throttle and the brake line.
Rid the rubber mounts.... keep it direct mounted to frame/mounting plate..
The ratio might work itself out after the throttle is sorted out... but keep an eye out for it.. might need the change of the rear sprocket.
Along with the brake cable, re-check the setup on the brake caliper..