Reform UK has unveiled plans to reduce public spending by over £100 billion within the first 100 days of a general election victory, with the aim of funding tax cuts for workers. Robert Jenrick, the party’s Treasury spokesman and former Conservative cabinet minister, detailed the proposed savings and promised an emergency Budget to clarify the economic strategy shortly after the election.

Jenrick outlined that the £100 billion in savings would come primarily from a £50 billion cut to welfare spending, alongside an additional £20-30 billion saved by scaling back net zero policies, abolishing quangos, reducing foreign aid, and trimming the civil service workforce to pre-pandemic levels. The remaining savings would result from reducing the cost of government debt interest, which Jenrick believes could be cut by £28 billion annually if borrowing costs were lowered to levels comparable to France.

Speaking ahead of Reform UK’s party conference in Birmingham, Jenrick criticized Labour leader Andy Burnham’s economic approach, particularly his plans for increased public spending and nationalization, which he argued have driven borrowing costs to their highest since 1998. The current government borrowing rate reached 5.91% this week, compared to 4.1% in France, underscoring the concerns about the UK’s fiscal sustainability amid international pressures.

Jenrick asserted that the party’s strategy would restore market confidence by demonstrating a credible path to both spending cuts and tax reductions, reversing what he described as Labour’s “jobs tax” involving higher employer National Insurance contributions. Reform UK also plans to lower certain business taxes, including adjustments to the VAT threshold affecting sole traders.

The party’s leader, Nigel Farage, will use the conference to present a detailed agenda for Reform’s first 100 days in government, emphasizing readiness in the event of an early election anticipated by some commentators as soon as spring. Reform is positioning itself as a viable alternative to both the incumbent Labour administration and the Conservative Party, focusing on policies aimed at working taxpayers rather than wealthier individuals.

Jenrick dismissed the prospect of Conservative leadership contender Kemi Badenoch as a significant challenge, framing the next general election as a contest primarily between Farage and Burnham. Unlike the Tories, Reform UK has not committed to abolishing stamp duty or inheritance tax broadly, though it supports scrapping inheritance tax on family farms. Jenrick emphasized the party’s commitment to benefiting the wider population by focusing on tax cuts targeted at working individuals.

The conference’s opening day was dedicated to business engagement, reflecting Reform UK’s desire to appeal to companies and investors by presenting itself as the pro-business choice on the right. Details on specific personal tax policy changes, including potential adjustments to the higher and additional rate thresholds, were withheld until a forthcoming conference speech.

Reform UK’s platform centers on encouraging work and ensuring that earnings are better retained by workers, aiming to differentiate itself from the policies proposed by Labour under Burnham ahead of a possible early general election.