US EditionDo Reform UK’s Tax and Spending Plans Add Up?
- On 27 May 2025, Nigel Farage, leader of Reform UK, announced five-year tax and spending plans in central London to appeal to Labour-held voters.
- Farage proposed raising the income tax personal allowance from £12,570 to £20,000, scrapping the two-child benefit cap, and restoring winter fuel payments, claiming savings mostly from ending net zero projects.
- Economists and critics challenged the credibility of the £225 billion savings over five years, noting much green investment is private and warning funding the tax cuts risks public service cuts or increased debt.
- Shadow Chancellor Mel Stride and others described Farage's plans as "fantasy economics" that lack detailed funding, warning of a market shock possibly twice as severe as Liz Truss's 2022 mini-budget crisis.
- The announcements have intensified political debate with Labour and Liberal Democrats warning about economic risks, while Reform insists spending cuts will precede tax relief to reassure markets.
14 Articles
14 Articles
Nigel Farage compared to Liz Truss after setting out ‘unfunded’ Reform spending spree
Reform UK leader Nigel Farage has been compared to disgraced former Tory PM Liz Truss, after failing to set out how his party’s spending pledges worth billions of pounds would be funded. The far-right party leader has sought to exploit political apathy and pledged to bring back winter fuel payments for all pensioners, scrap the two-child benefit cap and stop anyone earning less than £20,000 a year from paying tax. Farage says that the pledges wo…
Farage to Scrap Net Zero to Fund Giveaway for Families – The Daily Sceptic
Nigel Farage has set out Reform UK's election pitch with a flurry of headline pledges – scrap Net Zero, axe DEI, lift the two-child cap and raise tax thresholds to support families and workers. The post Farage to Scrap Net Zero to Fund Giveaway for Families appeared first on The Daily Sceptic.
Farage's policies would risk Truss-style mini-Budget market chaos, economists warn
Nigel Farage’s plan to slash tax and increase benefits would cause a market shock up to twice the size of Liz Truss’s mini-budget, independent economists have told The i Paper.On Tuesday, the Reform UK leader pledged to scrap the two-child benefit cap and fully reinstate winter fuel payments for pensioners.He also restated existing Reform commitments to raise the personal allowance to £20,000 and introduce a more generous marriage tax allowance …
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