Fury Over Nigel Farage’s New Economic Plan
Nigel Farage and his party, Reform UK, faced harsh criticism after a key speech in the City of London. Critics labeled them as “vultures” accusing them of planning to betray pensioners and introduce a strict new era of austerity.
Abandoning Tax Promises and Pledging Cuts
During the speech, Farage dropped previous tax pledges worth billions but promised significant welfare cuts and deeper reductions in public spending if elected. He predicted that economic difficulties would trigger a general election in 2027, lamenting that Brexit opportunities had been “squandered.”
Controversial Positions on Pensions and Minimum Wage
- Farage refused to guarantee maintaining the pensions triple lock, which safeguards pension increases based on earnings growth, inflation, or a minimum of 2.5%.
- He suggested lowering the minimum wage for young workers.
Tax Scheme for Wealthy Overseas Figures
Farage reiterated his contentious plan to establish a tax scheme that would enable wealthy foreign tycoons to avoid taxes, a proposal widely condemned.
“If I'm right and that election comes in 2027, then the economy will be in an even worse state than any of us in this room could even predict.”
Critics described the budget proposal as an "incoherent saloon bar budget" favoring hedge funds and financial speculators at the expense of ordinary workers.
Summary
Farage’s recent speech reveals plans for severe public spending cuts and controversial policies, raising fears of betrayal for pensioners and economic inequality.