NIGE TAX ROW
Nigel Farage is challenged over wanting to give millionaires a massive tax cut and claims ‘poorest would benefit most’
The Reform UK leader dismissed claims the tax plans would benefit people earning over £95,000 the most
NIGEL Farage today hit back at criticisms that his plans to sledgehammer taxes will benefit millionaires the most.
The Reform Leader insisted that his radical economic agenda would give the biggest boost to "the poorest in society".
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Mr Farage has vowed to raise the personal tax allowance to £20,000 and the inheritance levy threshold to £2 million.
Stamp duty on homes under £750,000 would be canned.
And the VAT threshold for small firms would rise to £150,000 from £90,000.
On Good Morning Britain the maverick politician was challenged over his tax giveaways, which in cash terms would give the biggest payday to Brits earning more than £95,000.
The plans wouldn't make a direct difference to take-home pay for Brits on Universal Credit because they don't pay tax regardless.
But Mr Farage claimed struggling households would benefit because low taxes would encourage higher wages.
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Asked on Good Morning Britain who wins most from Reform's plans, Mr Farage claimed: "People on benefits would gain the most because their whole lives would be transformed by making work pay.
"In percentage terms, those at the bottom would do best."
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Pressed on why Reform thinks it's fair to cut taxes for millionaires, Mr Farage added: "We want to cut taxes for everybody.
"The more you earn the more you take home.
"We’re coming along as the third biggest party and we want to have an open debate about the things we stand for."
The Institute for Fiscal Studies estimates Reform's cuts would cost nearly £90 billion per year.
Despite declaring Britain “skint”, Mr Farage has also proposed £141billion of extra spending plans — with experts casting doubt on the sums.
Yesterday the Brexit frontman, 60, declared his “unashamedly radical” party would offer “real, genuine change” in a dig at both Sir Keir Starmer and PM Rishi Sunak.
Farage, alongside Reform chairman Richard Tice, launched the document, “Our Contract With You”, in a rundown community centre in Gurnos, South Wales.
He said the decrepit building showed “exactly what happens to a country when Labour is in charge”.
It came hours after Mr Farage — all the while wearing Union Jack socks — admitted for the first time he does have ambitions to enter No10 as PM within just five years.