Farage tears up £90bn tax cuts in quest for credibility

NIGEL Farage has ripped up Reform UK's existing tax cut pledges as he launches a new mission to make the party credible on the economy ahead of the next election.

- BY CHRISTIAN CALGIE Senior Political Correspondent

Speaking from the City of London, he warned of the real risk of “economic collapse” next year as he pitched a fresh message of grownup economics.

He accused both the Tories and Labour of hiking debt and disguising the lack of genuine economic growth with mass migration and excessive government borrowing.

The Reform chief set out the current malaise, accusing the political class of “living under an illusion” and not being “willing to face up to how much of a mess we’re genuinely in”.

In his wide-ranging speech Mr Farage tore up Reform UK's tax cut pledges from the previous election, which many economists had warned would spark a Liz Truss Mini-Budget-style fiscal meltdown.

Last year, the party promised voters around £90billion of tax cuts every year, including raising the income tax threshold to £20,000, abolishing inheritance tax for all estates under £2million and cutting the main rate of corporation tax down from 20% to 15%. Mr Farage said that nearly all of these previous pledges have now been junked due to the declining state of the economy since Rachel Reeves entered the Treasury.