After being criticized for their "fantasy economics," the UK Reform Party quickly made a U-turn: abandoning their promise of a 90 billion pound tax cut.

Nigel Farage, leader of the UK Reform Party, has announced the cancellation of some of its most prominent economic policy proposals, such as a massive 90 billion tax cut plan. The emerging right-wing party in the UK had been leading in the latest polls, making it a prime target for more established political parties. The Reform Party has stated that it will abandon its proposal to implement a 90 billion (approximately $120 billion) tax cut plan by 2024. The party's deputy leader, Richard Tice, stated in an interview that this commitment has been downgraded to a "vision." The party's manifesto before last year's election proposed raising the personal income tax threshold from 12,570 to 20,000 (approximately $26,671) and increasing the 40% higher tax rate threshold to 70,000. The independent think tank, the Institute for Fiscal Studies, had warned that the cost of these tax cuts would be higher than claimed, costing billions of pounds more each year. After leading comfortably in polls for six consecutive months ahead of many competing parties, the Reform Party's economic promises have faced increasing scrutiny, with Conservative Shadow Chancellor Mel Stride labeling them as "fantasy economics" at a recent party conference. Current UK Prime Minister Keir Starmer has defined the next election as a battle for survival between his left-wing Labour Party and the right-wing Reform Party that he leads. Despite having only five seats in parliament, the Reform Party continues to lead in polls, reflecting a collective shift in British public sentiment towards supporting right-wing forces. This shift by the Reform Party signifies their most clear acknowledgment yet of taking these criticisms seriously. Farage stated in a media comment, "In the next election, we will present a manifesto declaration that is rigorous and fully costed." He added, "The Reform Party will not borrow money like the Labour and Conservative parties have done for years to spend recklessly; instead, we will ensure substantial savings before implementing tax cuts." He also mentioned in a recent interview that between now and November's economic policy budget, the party plans to provide more details on their new economic proposals.