Reform-linked thinktank ‘to call for big tax cuts for the rich’
Summary
A thinktank linked to Nigel Farage’s Reform UK is preparing a report that may propose large tax cuts for wealthy people by removing inheritance and capital gains taxes. The report is also expected to suggest deregulation in the financial sector and changing the Treasury’s responsibilities. The thinktank denied some reported details and said the final report would not include unfunded tax cuts.Key Facts
- The Centre for a Better Britain (CFABB) is connected to Nigel Farage’s Reform UK party.
- CFABB plans to release a 200-page document outlining economic policies before the next UK election.
- The report reportedly suggests abolishing inheritance tax and gradually removing capital gains tax.
- UK inheritance tax raised £8.5 billion and capital gains tax £24 billion in recent years.
- CFABB may also suggest deregulating financial services, similar to the 1980s "Big Bang" reforms.
- The thinktank denies the current draft is final and says there will be no unfunded tax cuts.
- Reform UK recently received two large donations (£72 million total) from crypto billionaires, raising concerns about outside influence.
- Former Reform UK policy head James Orr was suspended due to allegations about breaking electoral laws on donations.
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