US EditionRichard Tice rows back on Reform’s £90bn tax cut pledge
- Richard Tice, Reform party leader, has revised the party’s £90 billion tax cut pledge made for shortly after a general election win.
- This adjustment follows concerns that the cuts must be funded by spending reductions and market conditions, which Tice emphasized in a Telegraph interview.
- Reform’s manifesto proposes increasing the initial income tax threshold to £20,000, eliminating inheritance tax on estates valued below £2 million, removing VAT from energy bills, and reducing corporation tax to 20%.
- The deputy leader said, “These are the tax cuts I want to get to,” while the Institute for Fiscal Studies warned the party underestimates costs significantly.
- Reform insists tax cuts await proven savings, reflecting a cautious approach despite recent local election successes and gains in opinion polls.
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