Nigel Farage Accused Of 'Fantasy Economics' Over Plan To Cut Public Spending By £400 Billion

Nigel Farage has been accused of “fantasy economics” after Reform UK’s chairman said the party would slash up to £400 billion a year of public spending in its first term in office if it wins the next election.

Zia Yusuf insisted the party could find the huge savings by cutting back on diversity, equity and inclusion (DEI) schemes, scrapping Net Zero policies and slashing quangos.

Speaking on Sky News on Sunday, he said Farage was “crazy about” the plan.

He said: “When was the last time you had a political leader in this country with a real shot at Downing Street, calling for £300 to £400 billion of cuts in the first term of government?

“I cannot remember it inside my lifetime, he was really crazy about this. Almost all of those cuts would actually improve the lives of British people. That is the state of decay in this country.”

But a Labour spokesperson said: “Nigel Farage’s fantasy economics would supercharge the chaos inflicted by Liz Truss, crash the economy, destroy jobs, ruin the public services working people rely on, and add £5,500 onto the average family’s mortgage - it would be a disaster for Britain.

“Farage and Reform simply can’t be trusted to look after your family’s finances, or the country’s.”

Tory chairman Nigel Huddleston said: “Reform have given up any pretence of being a serious party. Nigel Farage now wants hardworking taxpayers to foot the bill for unlimited welfare, while handing out fantasy pledges with numbers that don’t even begin to add up.

“Reform have abandoned any principles and embraced Corbyn-style chaos. Farage says Corbyn was ‘pretty much right’ and his chair boasts of slashing £300 billion from public services without naming a single department.

“It’s pure populist theatre - uncosted, unserious, and utterly unfit for government. If voters want socialism draped in a Union Jack, sold with a pint and a wink, Reform’s their party.

“But if they want lower taxes, secure borders, and grown-up government, that’s the Conservatives.”

A Liberal Democrat source said: If Zia Yusuf and Reform were as serious about fixing the economy as they claim they are, they would not have a leader endorsing Trussonomics and pandering to Donald Trump, who has caused British businesses so much misery with his war on trade.

“They are not a serious opposition to this government, just like the Conservatives.”