London ( Parliament Politics Magazine) Nigel Farage has dropped Reform UK’s £90bn tax-cut pledge to focus on cutting public spending and reducing national debt. He says tax reductions will only follow once the deficit is under control to restore confidence in Britain’s finances.
Nigel Farage, leader of Reform UK, is expected to announce a major shift in his party’s economic agenda by shelving earlier promises of large-scale tax cuts. Instead, he plans to focus on reducing public spending and national borrowing, as part of an effort to strengthen Reform’s credibility on economic management.
In a speech scheduled for Monday in the City of London, Farage will unveil what he calls Reform’s new “economic vision for Britain.” The address is expected to mark a significant policy departure from the party’s earlier commitment to slash taxes by £90 billion. This change signals a move toward fiscal restraint and financial discipline, as Farage seeks to convince both voters and business leaders that Reform UK can handle the economy responsibly.
A Shift Toward Fiscal Discipline
Reform UK’s original economic platform was built around sweeping tax reductions — measures such as raising the income tax personal allowance to £20,000, cutting corporation tax to 15 percent, and scrapping inheritance tax on estates worth less than £2 million. These pledges, the party argued, would reward hard work, promote entrepreneurship, and accelerate economic growth.
However, following increased scrutiny from economists and financial experts, including the Institute for Fiscal Studies (IFS), Reform has reconsidered its stance. Analysts warned that the proposed cuts would create a massive gap in public finances, potentially costing tens of billions of pounds more than the party had calculated. Critics said such a plan could destabilize the economy unless accompanied by deep spending cuts or new revenue sources.
Now, under Farage’s revised approach, the focus will be on tightening government expenditure, reducing borrowing costs, and stabilizing the budget before any tax reductions are considered. “Then, and only then, will I cut taxes to stimulate growth,” Farage is expected to say. “We must get the economy growing — but first, we must restore confidence in Britain’s public finances.”
From Tax Cuts to Spending Cuts
This change of strategy follows Farage’s earlier declaration in October that Reform UK would “never borrow to spend” if it came to power. At the time, he said the country needed to end its dependence on debt-fueled growth. Since then, the party has officially dropped its £90 billion tax-cutting promise, describing it instead as an “aspiration” rather than a firm commitment.
The new plan, according to Reform insiders, will prioritize cutting what Farage calls the “bloated state.” The party intends to target areas of government spending it views as wasteful or excessive, including net zero climate initiatives, welfare benefits, foreign aid, asylum support, and parts of the civil service. These areas are expected to see significant reductions under a future Reform government.
Farage’s message will stress the need to break what he describes as a “doom-loop” of rising taxes and ever-growing public spending. “Successive governments — both Conservative and Labour — have wrecked our public finances,” he is expected to say. “Reform will restore them. We can end this cycle of punishing taxpayers year after year.”
Reaction from Other Parties
Farage’s announcement has drawn strong reactions from across the political spectrum.
Shadow chancellor Mel Stride dismissed the shift as a “desperate attempt” to appear economically credible, accusing Reform of inconsistency.
“It’s impossible to take Reform seriously on the economy when their promises disintegrate after five minutes,” he said. “They are a one-man band, making up policies as they go along.”
The Labour Party also criticized Farage’s new focus, saying that his plan would drag the country back into a new wave of austerity.
A Labour spokesperson stated, “Nigel Farage claims to offer something new, but his ideas would take us right back to the painful cuts of the past decade. This isn’t reform — it’s regression.”
Economists, too, remain skeptical. While many welcome Reform’s apparent move toward fiscal discipline, they warn that slashing public spending too aggressively could hurt essential services and slow recovery. Analysts note that the government faces a delicate balancing act: rebuilding confidence in the economy without triggering social unrest or undermining growth.
Positioning Reform as Pro-Business
Despite the controversy, Nigel Farage is keen to portray his party as the champion of British business. He argues that freeing the economy from excessive regulation, simplifying taxes, and encouraging innovation — particularly in emerging digital sectors — will attract investment and drive growth.
In his upcoming speech, he will emphasize new opportunities in digital finance and cryptocurrencies, suggesting that these technologies could play a major role in Britain’s economic future.
“We will reduce the power of regulators, bring real-world expertise into government, and embrace new sectors like digital assets as engines of growth,” Farage plans to say. “Britain can only prosper once again when we unleash enterprise and reward hard work.”
Farage’s message resonates with segments of the business community frustrated by what they perceive as bureaucratic hurdles and high taxation. However, critics say that his call to “reduce regulation” lacks detail and could risk weakening safeguards that protect consumers, workers, and investors.
Political Context and Public Sentiment
Reform UK’s rise in the polls has been one of the most striking features of the current political landscape. Farage, long known for his populist rhetoric and leadership of the Brexit campaign, has managed to position Reform as a challenger to both major parties. His message of national revival and government accountability appeals to voters disillusioned with traditional politics.
However, economic credibility remains a key challenge. While Farage’s charisma and blunt messaging have helped him build support, many analysts say that voters still doubt whether Reform UK has a coherent plan to manage Britain’s complex fiscal realities. This latest policy shift — from promising tax cuts to prioritizing spending restraint — appears aimed at addressing those doubts.
Political observers note that Farage’s move may also be designed to attract centrist and business-minded voters who value stability over populist promises. By emphasizing debt reduction and financial responsibility, Reform hopes to present itself as a viable alternative to both the Conservatives and Labour.
UK Prepares To Reform UK
As Reform UK prepares for the next general election, Farage faces the difficult task of explaining where spending cuts will fall and how they will impact ordinary citizens. While he has identified broad categories such as net zero initiatives and welfare programs, the lack of specific figures has left many questioning whether the cuts can realistically balance the books without harming vulnerable groups.
Some analysts suggest that Farage’s strategy could work politically, even if it proves challenging in practice. By presenting himself as the only leader willing to confront the reality of Britain’s debt and spending crisis, Farage taps into public frustration with rising taxes, stagnant wages, and declining public services.
Still, the road ahead remains uncertain. If Reform UK gains more traction, the pressure will grow for the party to publish a detailed, fully costed economic plan. Until then, critics are likely to accuse Farage of offering slogans rather than solutions.
