Nigel Farage faced criticism for proposing significant cuts to public spending, with accusations of advocating a return to austerity measures. During a speech on the economy in London, the Reform leader refrained from supporting the pensions triple lock, questioned the minimum wage for young workers, and pledged to reduce the welfare budget. He abandoned his proposed £90 billion tax cuts following criticism from economists.
Following the speech, Farage was swiftly condemned for presenting an “incoherent saloon bar budget” that was viewed as favoring hedge funds and financial speculators over ordinary workers. The Labour Party criticized Farage for his austerity agenda, warning that his proposed cuts to public services, including the NHS, schools, and pensions, would jeopardize jobs and harm family finances.
Farage refused to commit to maintaining the pensions triple lock if elected, expressing uncertainty about making long-term projections given the economic uncertainties. The Liberal Democrats criticized Farage for his plans to cut benefits, including scrapping Personal Independence Payments for individuals with anxiety, labeling the proposals as cruel and heartless.
Reform UK announced intentions to substantially reduce the benefits bill and shrink the public sector, with a focus on reassessing all disability claims in person. Farage reiterated his opposition to the government’s Net Zero policies, aiming to eliminate subsidies and lower energy costs. However, critics warned that his stance could endanger jobs in sectors like electric vehicles and green steel.
In addition to proposing cuts, Farage defended a plan to grant wealthy foreigners “non-dom” tax status in exchange for a fee, a move criticized for favoring the rich. The Labour Party denounced this initiative as a way for foreign billionaires to evade taxes in the UK.
Reform UK also pledged to slash foreign aid by half to fund other priorities, despite previously dropping its proposed tax cuts. Farage defended this decision, emphasizing the need to prioritize domestic needs over international aid.