Nigel Farage is preparing to abandon Reform UK’s flagship £90bn tax cut pledge as he seeks to project a more fiscally responsible image ahead of the next general election.
The Reform UK leader is expected to outline a revised economic vision in an upcoming major policy speech, marking a significant shift from the party’s 2024 manifesto, which included sweeping tax reductions such as raising the income tax threshold to £20,000 and abolishing inheritance tax on estates under £2m.
The Institute for Fiscal Studies (IFS), previously criticised the proposals as unrealistic and problematic, arguing that the sums did not add up.
Speaking on Monday, Farage said the party’s next manifesto would be “rigorous and fully costed, reform will never borrow to spend, as Labour and the Tories have done for so long. Instead, we will ensure savings are made before implementing tax cuts,” he said.
Farage reaffirmed his party’s commitment to ending net zero policies, cutting benefits for foreigners, and tackling what he described as wasteful behaviour by the Bank of England.
He also pledged to bring back wealthy taxpayers, expand domestic energy production, and deepen cuts to civil service spending.
While details of which spending pledges will be scaled back remain unclear, his forthcoming speech is expected to outline specific measures to trim public expenditure and reshape Reform’s fiscal strategy.
Reform UK is currently polling above 30%, ahead of Labour and well clear of the Conservatives, Its rise has been fuelled by a hardline stance on immigration, though critics continue to label the party fiscally reckless.
The Conservatives have accused Reform of promoting socialist policies, citing previous commitments to nationalisation and welfare spending.
Mr Farage countered that claim, saying both major parties had “penalised working people for decades.”
“A future Reform government will put those who contribute to our economy at the heart of everything we do,” he added.
