Nigel Farage has distanced himself from Reform UK's manifesto promise to cut £90bn in taxes, blaming Labour and the Conservatives for 'wrecking the public finances'. Speaking in the City of London, the party leader described the pledge as an 'aspiration' rather than a firm commitment, and said the party would need to control public spending before implementing major tax reductions.
Farage refused to guarantee the pensions triple lock would remain under a Reform government, and backtracked on a previous pledge to raise tax-free thresholds to £20,000. He argued that the state of the economy by the next election, which he predicted would be in 2027, would be worse than currently understood, making it impossible to commit to specific fiscal policies now.
The Reform leader also suggested the minimum wage for younger workers might be too high, and criticised the government's workers' rights bill as damaging to small businesses. He indicated that any initial tax cuts under a Reform government would be 'relatively modest', such as reversing inheritance tax on farms and raising tax thresholds.
Farage defended the non-dom tax regime, arguing that high earners should be encouraged to stay in the UK to contribute to the economy. He claimed the country was experiencing a 'wealth drain' similar to the brain drain of the 1970s, and that driving away the rich would lead to higher taxes for poorer people.
On benefits, Farage said he would lift the two-child benefit cap but only for low-paid British couples who both work. The party has also proposed cuts to disability benefits, claiming it could save £9bn by scrapping Personal Independence Payments for those with low-level anxiety, though the figure is disputed.
