Revealed: How Farage’s £80bn tax cuts would benefit the richest most

https://www.independent.co.uk/news/uk/politics/farage-reform-tax-starmer-labour-b2760738.html

by F0urLeafCl0ver

45 comments

  1. But raising the Tax Free allowance by nearly £8k would put £2k per year into the pockets of a LOT of people. While the richest might be the biggest beneficiaries in terms of how much they save, the biggest beneficiary in terms of volume of people benefiting may still be in lower/middle.

    All moot anyway as raising the threshold so much so fast would be a bit Liz Truss and it wont happen.

    Edit – this coverage even feels a bit “well yeah it benefits us but it benefits someone else more so I dont want it!”

  2. Because they pay more in tax in the first place, not exactly a revelation.

    Total fantasy politics though, if only the other political parties thought of cutting taxes and increasing spending at the same time!

  3. I read the article but I don’t understand how they work it out. 

    How does raising the tax free allowance benefit the highest earners? 

    Anyone on over £140,000 pa wouldn’t be receiving it anyway.

  4. Getting rid of stupid effective tax bands of 60% and higher would be welcomed so yea bring it on Nigel

  5. It’s typical. Yet again we have the rich using their wealth to convince the poor to vote for them.

    Farage is their frontman, I mean why not he did such a great job on Brexit for them. See they needed Brext so that eventually they can leave the ECHR. Then they will introduce a British Bill of Rights to replace the Human Rights Act, which will almost certainly mean less protections for employees which in turn helps his rich mates, at your expense. Please don’t fall for this man or his party at the next election. Yes its bad at the moment but under this lot thing will get a whole lot worse.

  6. Not a fan of reform in the slightest. These numbers don’t add up.

    If the income tax base rate is uplifted from 12.5 to 20 then everyone will benefit equally apart from those earning less than 20. Therefore I would expect 1 and 2 to be lower then 3 to 9 to be equal. It’s not like you can get more because you earn more. In fact the relative income change should be lower at the top end because the % against income is lower because the income is higher.

    Are they doing this on purpose? You know like let’s have a go at reform where even the most simple of person can see we are wrong so they look like some sort of underdog. I really don’t get it.

  7. Typical socialist take, which pretends high salary people = rich.

    The rich have better options than to pay themselves salaries.

  8. Farage is not the ‘ man of the people ‘ the easily influenced think he is

  9. It’s slightly depressing to see that he knows he can write off any pushback as ‘Project Fear 2.0’ when Brexit turned out to be the fiasco ‘experts’ warned us about. 

    You’d hope any normal country would take that as confirmation that he is talking out of his arse again. 

  10. Not sure I follow. If you’re on minimum wage, lifting the tax free allowance means 80% or so of your earnings are tax free. It’s a comparatively small benefit for those of us in the upper tax bands. Presumably there are other tax provisions in this calculation but the indy is choosing to focus on the tax free allowance? 

    Edit: not that I’m necessarily opposed to tax cuts, but I am worried about how these will be paid for. We don’t have the luxury of just being able to print money to cover our bills like the States does. Given all the UK DOGE rhetoric from Farage and co, you have to feel that this will be paid for with some brutal cuts elsewhere so yes, you’ll be getting your £20k tax free but a lot of us are also going to be paying NHS “co pay”, private healthcare and private schools, plus there will doubtlessly be some bat shittery about making working from home illegal. I wouldn’t start spending the extra money yet, put it that way. 

  11. Following the Trump blueprint – Farage doesn’t have a single original thought – he’s building his own version of MAGA

  12. He’s a poundland trump without the criminal convictions.

  13. Click bait crappy title from the Independent completely unrelated to the article. Farage is a twat but the article is garbage

  14. No problem. All he has to do is blame the previous government for all the bad things. Works for square head and Rachel the fantasist.

  15. You can’t cut tax for those that don’t pay any – so obviously any tax cuts proposed only benefit the “rich” (I.e those that work for living).

    Here in Scotland, 39% of adults of working age pay no income tax, not a single penny – so obviously the tax cuts proposed will only benefit the working man and woman, aka “the richest” (read – those who work for a living and pay tax) and I’m absolutely happy for that.

    “Richest” is a byword for those bothering to find employment and put in a working week.

    I’m sick of paying more and more tax and having more and more services stripped away to fund those whose contribution to the state is £0 a year.

    Finally, someone proposing an incentive for the people who actually do work and pay tax that fund the welfare state. Our current system, of taxing working men and women higher and higher, either through tax increases or fiscal drag, whilst millions sit idle demanding that working people fund their lifestyles, isn’t working.

    https://www.gov.scot/publications/scottish-income-tax-distributional-analysis-2023-24/

  16. Its been 20 minutes i wondered when the next farage hit piece was going to be.

  17. The voters know. They don’t care. They think all politicians are crooks who serve “the Elites”, so you may as well vote for YOUR crooks. At least then The Elites will be people like you.

    I don’t understand how this kind of push is still being attempted nearly 10 years after Trump and Brexit proved decisively that it doesn’t work.

  18. Im shocked how people are still supprting this guy who deluded the racist public to vote out of brexit and this man was to blame

  19. A wolf in wolf’s clothing, pretending to be sheep, to incredibly dim sheep.

    It’s really not difficult to see Farage is a charlatan, a fraudster and a self-serving grifter. Only have to see how Reform in the local elections are going to see how workshy and ignorant him and his pack of wolves really are.

    His voters need to look into populism. They’ll soon learn they’ve been taken for granted and lied to.

  20. Makes sense. The people who pay the most tax will benefit most from tax cuts.

  21. So right wingery 101. Massive tax cuts for the rich, smaller tax cuts for those in lower income brackets.

    But then of course the massive tax cuts for the rich need to be paid for by cuts to/privatisation of public services, so any tax cut you give to lower earners goes right back to private service providers for stuff that used to be available free at the point of use, ultimately leaving the poor out of pocket.

    And then when people notice how crap everything has got, just blame it on immigrants.

  22. Well well, if it is not propaganda with made-up calculations and conclusions to support their agenda “pay 60% tax and I will tell you how this is a good thing”

  23. It’s Truss 2.0, but that’s very manageable now. Sell pounds and UK bonds, buy US bonds or Yen (ie any other major safehaven asset). Wait for the lettuce-brained crash and buy them back at a profit.

  24. Is kinda like taking money from elderly or disabled if we’re not taxing the rich properly. Don’t with any level of power for the toss pot that is Farage as he’d sell his nan off for a pool side room. But our current ‘working class’ Labour party aren’t doing anything to bridge the ever growing wealth gap. So what’s the difference?

  25. The £50-80bn unfunded cost is fucking terrifying.

    For context, the infamous Liz Truss budget that sent the economy into meltdown was around £40bn unfunded.

  26. Maybe it just needs a good name… something like “Big Beautiful Bill” to distract from the uncomfortable truth that its going to hit his supporters hardest… or perhaps I am thinking of the wrong country..

  27. But pretty much all tax cuts benefit you more the more you earn (and the more tax you pay). That’s how tax works. It’s hard to cut tax from people who earn so little they don’t actually pay any/hardly any.

    This is the same for pretty much every government, in every country, ever, that tries to cut tax. “Tax cuts for the filthy rich!!” is the ever predictable tabloid headline.

  28. I think the article, or the “financial experts” it cites, is disingenuous. I don’t have any personal allowance at all, because I earn above £125k, so unless they scrap that tapering (which I would fully support actually, it’s bullshit that you lose that tax free amount), then it wouldn’t benefit the highest earners at all, just those earning up to £125k.

  29. Cutting personal and corporation taxes is a great idea. Ultimately it will increase tax receipts. And grow the economy by incentivising economic activity. Just needs to be done in a managed way with a clear plan of where and how public expenditure can be cut to provide balance.

  30. I’m not rich by any means, but if it’s going to benefit the richest most it means the poor are still going to benefit and that’s certainly better than where we are just now

  31. It’s an extremely compelling change that would absolutely benefit the poorest more, top tier cope from the media as usual twisting numbers to fit a narrative.

  33. At this point I believe nobody in politics as they do things that benefit themselves and only back track as soon as enough public outcry and anger, is achieved.

    We hold none of the accountable as they are people on the TV, that may as well be actors, on a soap. Really crazy to think that some countries have or had ex actors as presidents.

  34. _Revealed, tax cuts for working people benefit working people the most, more at 6_

    Seriously though, if you read the article, everyone from the 2nd percentile is about 5% better off. The only people not seeing a big benefit (+1%) is the bottom precentile as tax cut on work doesn’t impact on them.

  35. This is just fine

    because ti makes the richer richer

    and the richer the rich people are then clearly the more that wealth trickles down to the poor people

    so overall the poor gain from this

    hope this helps

    (do I need to say that this post may contain sarcasm???)

  36. Please don’t vote for this man or anyone who sides with him. He will ruin you

  37. The trouble isn’t that Farage’s policies benefit the wealthiest the most.

    The trouble is that there are enough poor and middle-class people who somehow believe that Farage’s policies will benefit them. Or worse, that Farage’s policies will hurt the people they hate more than they hurt them.

  38. Ignorance and lack of understanding policy is what happened in the US. Simple slogans promoting lies to the people who think it’s foreigners that are the reason things are bad.

    All the populist politicians these days are in the game to like their own pockets and those of their rich pals.

  39. It’s a party full of ex Tories. Funded by billionaires and Russians that used to fund the Tories. And headed by a Right Wing grifter with a track record of cosying up to the Tories.

    Anyone surprised that they’re going to be a rebranded Tory party isn’t paying attention. Or isn’t capable of paying attention.

  40. Imagine thinking this man has the best interests of ordinary working people at heart. Look at his past its well documented you have to be a complete moron or so bigoted you are prepared to throw the baby out with the bathwater and turn it all to ruin. He’s a snake oil salesman everything he does is for his own greed.

  41. Tax cuts have always worked that way. I don’t know how we got into the mindset of ‘tax cuts are good for everyone!’. Probably some misinformation campaign.

    When taxes are cut, the savings for the lower classes are minimal, and the savings for the upper classes are huge. Then, to afford the tax cuts, public services are cut, which mainly affects the lower classes, and not the upper classes who can pay for private healthcare, private transport, private security, etc.

    So in practice, tax cuts sound nice, but they just mean stripping public services to give money to the wealthy instead.

  42. Millionaire banker with billionaire backers wears a costume of relatability while delivering exclusively on the interests of himself and his backers.

  43. When I read it, the main point is:

    “The centrepiece of Mr Farage’s tax plans was a pledge to lift the tax-free income allowance from £12,570 to £20,000, which would cost between £50bn and £80bn per year.”

    I agree with this, as well as progressively raising the 20% and 40% tax threshold. The main reason being that the working people are the ones that get paid tax the most in this country

  44. Well, duh?

    Cutting tax isn’t going to help someone that barely pays any?

    Who is claiming otherwise?

    Thing is, most of us do pay a lot.

  45. Oh wow I’m absolutely shocked. Another political group that claims to help the people while mainly trying to help the rich. Tax wealth not work.

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