Nigel Farage has rowed back on previously promised tax cuts, instead deciding that going back down the austerity root is the best way to address the UK’s economic issues.
On Monday, the Reform UK leader gave a press conference in which he set out Reform’s vision for the economy.
At last year’s election, the party had promised £90bn worth of tax cuts in their manifesto. This included pledges to slash corporation tax, cut stamp duty and lift the threshold when people start paying income tax.
But it turns out that Farage and Reform have realised this would be a non-starter, because of what they have labelled the “dire state” of public finances – and the fact that many economists warned their manifesto sums didn’t add up.
So what’s their grand plan instead? Pay young people less, refuse to tax the rich more, and slash public spending and welfare.
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Farage claimed that cutting the minimum wage for people aged 18-20, which is currently £10 an hour, would boost “aspiration.”
He called on Chancellor Rachel Reeves to either do this or “lift the cap at which national insurance is due.”
The Clacton MP hit out at the idea of increasing taxes on the super rich, making the often disproven claim that this would lead to millionaires and billionaires fleeing the UK in a “wealth drain.”
Instead, it seems Farage wants a return to austerity, saying his party would cut public spending. In particular, he predictably took aim at welfare, arguing that disabilities were being “over-diagnosed.”
The announcements are proof that Reform don’t represent or offer any substantial change to the politics of the last 15 years.
Following the press conference, some suggested the plans to return to tried and tested – and failed – methods such as austerity played perfectly into the hands of the Green Party.
One person said: “Reform doubling down on the austerity pledge is an absolute gift for the Greens as the only real opposition to the Westminster parties. Golden opportunity to win over some Reform to Green switchers.”