The New Statesman: politics and culture What's Farage's plan for the economy?
Nov 3, 2025
Ethan Croft, a journalist for the New Statesman, reports on Nigel Farage's economic vision for the UK. He discusses Farage's shift towards fiscal orthodoxy, abandoning major tax cuts, and focusing on appealing to rural voters by targeting inheritance tax. The conversation explores how Farage addresses criticisms of Brexit, his views on immigration's economic impact, and the party's preparations for governance. Ethan sheds light on Farage courting wealthy donors and potential non-MP cabinet members, positioning Reform as a serious contender in British politics.
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Farage's Shift To Fiscal Caution
- Nigel Farage has shifted from bold tax-cut promises to a cautious, orthodox fiscal stance claiming volatility limits commitments.
- He kept a long-term aim for tax cuts but said they’d follow growth rather than be pre-funded now.
Two-Child Cap Recast Narrows Winners
- Farage revised his stance on the two-child benefit cap to exclude many current recipients by limiting it to British working couples.
- The change narrows beneficiaries and reframes a previous leftward positioning relative to Labour.
Crisis Narrative As Political Pathway
- Farage portrays an imminent fiscal crisis and predicts austerity and political collapse by 2027 as a route to a new election.
- He uses this framing to justify Reform's readiness and austerity-focused rhetoric.