Reform UK Urged to Pursue £75 Billion in Tax Cuts, Think Tank Report Says

Reform UK should pursue more than £75 billion in tax cuts to spur growth if elected, according to a report commissioned by Deputy Leader Richard Tice and published by the Reform-linked Centre for a Better Britain. The proposals — including cutting corporation tax to 15% from 25% over eight years, phasing out National Insurance, and scrapping stamp duty, inheritance tax and capital gains tax — would cost nearly £77 billion in 2027-28, rising above £90 billion by 2030-31. Reform is expected to decide before Christmas whether to adopt the recommendations as policy. Separately, think tank CenTax urged the government to raise £19.7 billion by aligning capital gains tax with income tax rates. Treasury Chief Secretary Emma Reynolds warned of "tough decisions" after official data showed government borrowing ran £8 billion above forecasts this year.