Nigel Farage has been accused of planning severe cuts to public services and pensions, surpassing the Conservatives, with critics labeling Reform as “vultures.” During a speech in the City of London, the Reform UK leader abandoned tax pledges worth billions but vowed to implement welfare cuts and reduce public spending significantly if elected. He expressed disappointment over missed Brexit opportunities, foreseeing potential economic turmoil leading to a general election in 2027.
Farage avoided committing to maintaining the pensions triple lock and proposed lowering the minimum wage for young workers. Additionally, he reiterated his controversial plan to assist wealthy foreign tycoons in tax avoidance, drawing criticism for favoring hedge funds and financial speculators over workers.
Critics denounced his budget proposal as favoring the wealthy at the expense of workers, accusing him of benefiting hedge funds while neglecting the needs of ordinary citizens. The Reform party’s manifesto from the previous year proposed tax cuts equivalent to a third of the NHS budget, including raising personal allowances and introducing tax-free allowances for companies.
Responding to Farage’s speech, various political figures criticized his austerity-driven agenda, highlighting concerns about potential job losses, reduced public services, and negative impacts on the environment and workers’ rights. They accused Farage of prioritizing the interests of the rich over those of working-class individuals.
Farage’s emphasis on trickle-down economics and attracting high-earning individuals to the UK to boost tax revenue was met with skepticism, as critics argued that his policies could lead to further economic disparities. The Tory Shadow Chancellor criticized Reform’s economic plan as chaotic and unsustainable, questioning the feasibility of their unfunded promises and spending proposals.
Farage’s vision for the economy, marked by austerity measures and tax cuts, has stirred controversy and drawn criticism from various quarters for its potential negative impact on the working population and public services.