Reform UK has pledged to raise the income tax threshold to £15,000, a move that would give most workers an extra £486 a year, funded by £40 billion in spending cuts. The party's leader, Nigel Farage, and Treasury spokesman Robert Jenrick unveiled the plan in London, calling it an Economic Rescue Plan for Britain.
Under the proposals, those earning between £14,000 and £120,000 would take home an additional £486 annually, with higher earners gaining less. The party says the tax cut would be funded by reductions including stopping non-British citizens claiming benefits, reducing foreign aid, and scrapping subsidies for net-zero projects.
Reform's Spending Cut Plans
Reform aims to slash spending by £40 billion in just one year to avoid a financial meltdown, according to Farage and Jenrick. Jenrick dismissed this week's Budget as a non-event and claimed Prime Minister Andy Burnham "hasn't got the mettle" to cut spending.
The plan also includes cutting household energy bills by removing a series of government charges currently added to them. Jenrick predicted there would be no significant cuts in the Budget to be delivered by Chancellor John Healey on Wednesday.
Political Reactions
Jenrick warned of economic chaos if Labour continued on its present course. He said: "The sums still won't add up and it's you who will pay. That is why I fear the worst. Every hard choice is put off until tomorrow."
He added: "This can't last. The market will realise that Andy Burnham hasn't got the mettle to make a single hard choice, and when it does, it's your mortgage, it's your job, it's your savings that will pay the price."
Conservatives accused Reform of stealing their policies. A Conservative Party spokesman said: "Reform have already stolen numerous policies that the Conservatives have previously announced for their 'rescue plan'." Farage insisted the Tories were actually copying Reform, saying: "Reform was there way before the Conservatives."
Criticism and Response
Reform also attacked Conservative leader Kemi Badenoch for announcing policies at her party conference that appear to benefit higher earners, including allowing people earning more than £100,000 to receive tax-free childcare and ending a so-called "mansion tax" on homes valued at more than £2 million. Jenrick called her "Kensington Kemi", saying she had policies to help wealthy Londoners but not working people across the country.
Aid agencies urged Reform to rethink plans to cut foreign aid. A spokesperson for Bond, which represents non-governmental organisations, said: "Slashing the UK aid budget to just £1 billion would leave the UK powerless against some of the biggest threats we face, like extreme poverty, inequality, and insecurity driven by conflict and climate crisis."
The spokesperson added: "It would also leave us unable to play our part in helping countries facing disasters, like the recent flooding in Nepal and the upcoming El Niño, or to protect us all from the spread of diseases like Ebola."
