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Key points Policies - or lack of them - in six areas

The Guardian

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November 04, 2025

As recently as May's local elections, Reform was pledging to raise the threshold at which people start paying income tax from £12,570 to £20,000, bringing many thousands out of tax but costing the exchequer more than £40bn a year.

- Peter Walker and Phillip Inman

Key points Policies - or lack of them - in six areas

Tax cuts - or the lack of them yet

Amid scrutiny about how or if this could be paid for, Nigel Farage has retreated. Questioned after the speech on whether the policy still stands, he said he would "want" a £20,000 threshold, but that this was an aspiration.

It was, he said, impossible to know what state the economy would be in by the time of the next election. There was one exception: Farage said he would reverse Labour's changes to inheritance tax on farms.

Two-child benefit cap, wages and state pensions

At a press conference last week, Reform said it could save £9bn a year by tightening eligibility for personal independence payments. Asked about another benefit-related policy - the pledge to scrap the two-child limit on payments of some benefits such as universal credit - Farage said this would only happen for UK nationals where both parents worked.

Farage declined to commit to the so-called triple lock guaranteeing significant annual increases to pensions - but said the current minimum wage was possibly "too high for younger workers".

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