Nigel Farage was grilled by GB News Political Editor Christopher Hope on his income tax pledge after his speech today.
Speaking from Canary Wharf, Nigel Farage promised that Reform UK would raise the thresholds at which people start to pay tax.
He also announced that the party would “immediately remove” inheritance tax (IHT) on family farms and family-run firms.
When the Reform leader went to GB News during reporters questions, Christopher asked: “Just on two points from your speech first, you said you would raise income tax thresholds in May, specifically increasing the basic rate threshold from £12,500 to £20,000.
Christopher Hope questioned the Reform UK leader
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GB NEWS
“Does that commitment still stand? That is the biggest pledge you’ve made in that area.
“And secondly, you haven’t mentioned the pensions triple lock. You’ve said you want to cut spending, is the triple lock now under threat?”
On income tax thresholds, Nigel Farage said: “From 1988 until the end of Tony Blair’s time in office, 1.5 million people paid 40 per cent or more in tax.
“By the end of next year, eight million people will be paying that rate. This illustrates just how much the state has grown, how poorly we’ve managed the economy, and how little businesses have been allowed to thrive.
“So yes, we will raise thresholds. But I cannot predict what the economy will look like by the next general election, which if I’m right, will be in 2027.
“The economy could be in far worse shape than any of us can foresee. How, then, can anyone project pensions, thresholds, or other policies between now and then?
Nigel Farage said he cannot predict pensions ahead of the next general election
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GB NEWS
“What we can do is use whatever influence we have to push this Government to change direction. for example, to ease the burden on small businesses.
“Over the past year, many of the things we’ve proposed have led both Government and opposition to follow our lead. Debate, reason, and public opinion can sometimes make a difference.
“However, with this Chancellor and Prime Minister, who are caught between old Labour voters seeking reform and left-wing voters pushing other priorities, I expect a Government with no clear vision that drifts along and then U-turns whenever it can.”
Nigel Farage has said his “aspiration” is to raise the income tax starting threshold to £20,000 as part of what he called a “carrot and stick approach” to getting people back to work.
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The Reform UK leader said the move was “vital for this country”, but stressed that his party would not commit to specific figures until it could assess the state of the economy if it came to power.
Mr Farage told journalists: “I want the tax threshold to go to £20,000, I think it’s vital for this country we get it there.
“It’s vital that with benefits and getting people back to work, we have incentives. I think that’s really, really important. As well as toughening the rules, it needs the carrot and stick approach.”
“So they were only ever aspirations,” he added. “I think what you’re seeing is us being realistic about the state of the economy.”