UK (Parliament Politics Magazine) – Welsh First Minister Baroness Eluned Morgan says a Reform UK government would be “catastrophic” for businesses, warning it could harm the economy.
As reported by The Independent, the Welsh First Minister warns Nigel Farage’s Reform UK government could be disastrous for businesses.
Eluned Morgan’s views on Nigel Farage’s business pledge
At Port Talbot’s TWI Technology Centre, Baroness Eluned Morgan dismissed Nigel Farage’s claim that his party would prioritize businesses.
She expresses concern over the effect a Reform UK government could have on Wales’ economy.
Lady Morgan said,
“This is a really important injection of money that will go into our communities. What I’m interested in doing is looking to the future… How are we going to use AI technology to advance our economy and make sure people in our communities have the skills for the next generation economy.”
She stated,
“We’ve got to really recognise that the world of tomorrow is not going to be the same as the world of today. We’re using a huge number of powers that are available to us (to support businesses).”
The Welsh First Minister said,
“I am very focused on growing the economy – that’s why we’re going to be hosting an investment summit in December, bringing some of the top companies in the world to Wales to give them the confidence to invest in our nation.”
Lady Morgan added,
“I think (a Reform government) would be catastrophic for business. What business wants is a stable economic and regulatory framework, what they’ve had over the years is that, and a Reform government, I think, might really scare the horses. I’d be very frightened about what the consequences of that might be on the economy of Wales.”
How will the £547m UK fund support jobs and growth in Wales?
The Welsh First Minister announced a £547m UK funding package to boost jobs and productivity.
The Local Growth Fund will replace EU funding, with spending decisions returning to Wales over the next three years.
The fund aims to create jobs, expand Welsh businesses, increase investment in AI, and tackle barriers such as energy efficiency.
Nigel Farage’s plan for jobs and firms in Wales
Nigel Farage said,
“We want to use every devolved power we possibly can to make the lives of small businesses and other bigger businesses easier in Wales.”
He stated,
“And that is what we’ve got to devise for our manifesto coming up for May, to say we’re actually on the side of people working and people having jobs.”
Mr Farage insists it’s “too early” to reveal detailed policy plans.
The Reform leader added,
“But all I can promise you is it’ll be very different to the status quo of the last quarter of a century.”
Richard Tice’s views on Reform UK scrapping the £90bn tax pledge
Reform UK’s deputy leader, Richard Tice, admits the party cannot deliver £90bn in promised tax cuts, pledging the government will focus on public spending cuts.
He described key promises, including higher income tax thresholds, as “aspirations,” adding that Reform would prioritize civil service cuts and end net zero.
Mr Tice stated,
“As an aspiration, that is absolutely the plan, the principle behind it. But we cannot do any of this, given the state of the finances, until we deliver on the savings. We’re focusing on the savings, deliver on the savings, deliver on the regulation cuts, that’s the way we change the way that you run and manage this economy, then you can get performance-related tax cuts further down the road only when you’ve delivered on the savings.”
After the 2025 local election wins, Reform is signaling major cost cuts in local councils, using a US-style Trump ‘department of government efficiency’ model.
What did Labour say about Reform and Farage’s economic plans?
A Labour spokesperson called Reform’s economic proposals “built on sand.”
They added,
“Farage continues to flirt with Liz Truss’s economy-crashing unfunded pledges – which would leave family finances at risk. Working people simply cannot trust Reform. They offer anger but no answers. Only this Labour government is focused on renewing Britain, so that we can grow the economy and put money back in people’s pockets.”
What did Mel Stride say about Reform’s economic plans?
The Conservative shadow chancellor, Mel Stride, stated that the plans were
“all over the place … Reform stood on a platform last year of huge unfunded commitments which would have wrecked the public finances. They cannot be trusted to run our economy.”
He added,
“It’s Corbynism in a different colour – undeliverable, uncosted, and totally detached from reality. Britain needs a serious and honest plan to live within our means, support wealth creators and grow the economy.”