Figures show Farage’s tax plans would benefit the wealthiest

PoliticsBusiness & Finance
30 May 2025 • 10:23 PM MYT
The Independent
The Independent

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  • Analysis by The Independent reveals Reform UK's tax plans would disproportionately benefit the wealthiest 10%, who would gain almost four times as much as the poorest 10%.
  • Reform UK leader Nigel Farage has proposed up to £80bn in unfunded welfare and tax handouts, claiming Reform is the 'party of working people'.
  • Economists warn Farage's unfunded pledges could cause economic chaos, with the biggest benefits going to top earners, while those on universal credit may see reduced welfare payments.
  • The IFS suggests targeting employee national insurance instead of raising the tax-free income allowance, as the latter primarily benefits the upper-middle class and wealthiest.
  • Sir Keir Starmer criticised Farage's plans as 'unfunded spending' reminiscent of Liz Truss's policies, while Labour MPs accused Farage of prioritizing the rich and harming working families.

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