Nigel Farage announced sweeping changes he’d implement if his party, Reform UK, took power. In a fiery speech in London, Farage promised to cut benefits significantly and insisted that every disability claim would be reassessed in person. His bold vision includes a massive push for deregulation, as he believes the UK has wasted the opportunities Brexit presented.
Citing a “dire state of debt,” Farage admitted hefty tax cuts aren’t feasible right now but promised to remove inheritance tax on family farms and businesses. His economic blueprint aims to make the UK a beacon for business and entrepreneurship by bringing in experts from various sectors to advise the government.
Farage envisions an economic shake-up, predicting a general election due to an economic collapse by 2027. He wants wealthy individuals to stay in the UK and pay their dues to prevent tax hikes for those struggling.
Reform’s plans include raising personal allowances and offering tax breaks for high street businesses. However, the Institute for Fiscal Studies called the financials problematic, suggesting the plans could cost more than stated. Questions were raised about benefit cuts, particularly for foreign nationals, as Zia Yusuf, the party’s policy head, outlined the intention to ensure early risers keep more of their earnings.
Amid criticisms, Reform insists it won’t repeat past mistakes and is distancing itself from unsavoury past affiliations. Labour accuses Farage of leading the country back to austerity, highlighting failures in councils where Reform has influence. Similarly, the shadow chancellor dismissed their economic proposals as insubstantial.
The debate is heating up, and the stakes are sky-high as Reform UK pushes its ambitious agenda. What do you think about these proposed changes? Is this the economic shake-up Britain needs, or are the plans just too risky? Let us know your thoughts!