8 godzin temu
Nigel Farage is abandoning his party's flagship economic promises today, ditching Reform UK's 2024 manifesto pledge to deliver £70 billion in tax cuts alongside £141 billion in increased public spending. In a speech in London, the Reform leader will instead demand strict controls on government spending before any tax reductions can be considered.
The dramatic policy reversal marks a significant shift for the party that campaigned on simultaneous tax cuts and spending increases just last year. Farage now argues that both Labour and the Conservatives have «wrecked the public finances», forcing a more austere approach to fiscal policy.
«Reform will get public spending under control, so that the nation's borrowing costs come down. Then, and only then, will I cut taxes to stimulate growth. We must get the economy growing», Farage is expected to say in his speech.
Pro-Business Vision
The Reform leader will position his party as champions of business and economic competitiveness. «We are the pro-business party. We will reduce the size of the bloated state. We will bring expertise into government. We will reduce regulation and the power of the regulators, we will make Britain a competitive, good place to invest, to work and to live. But I know we can only cut taxes once the deficit is under control», he will tell his audience.
Farage also plans to criticize Brexit's implementation, stating: «The harsh truth is that regulations and regulators, in many areas, are worse than they were back in 2016.» He will argue that Britain needs to better leverage its exit from the European Union to boost economic growth.
Austerity Accusations
Critics have seized on the policy U-turn, accusing Farage of planning to take Britain «back to austerity». Political opponents describe Reform as a «one-man band» that has «resorted to junking promises they made only recently in a desperate attempt to appear economically credible», pointing to alleged failures to find savings in local government and planned tax increases on families.
Note: This article was created with Artificial Intelligence (AI).
