News · 5 November 2025
Reform UK plans big tax cuts and spending cuts
Reform UK intends to withdraw from the European Convention on Human Rights, lower corporation tax to 15%, remove net zero commitments, and reduce departmental spending by 5%. While the party previously pledged £90 billion in yearly tax reductions, this has recently been downgraded to an 'aspiration'; the party still plans to scrap EU rules and climate subsidies, but economists from the IFS warn that projected savings are overstated and the tax cuts would cost more than estimated, risking large deficits.
Reported by IFS · How we write briefs