Nigel Farage Accused Of 'Billionaires' Giveaway' Over New Tax Policy

Reform UK leader Nigel Farage speaks during the New York Young Republican Club's annual gala last December.Nigel Farage has been accused of planning a “giveaway” to billionaires over a new tax policy for the super-rich.The Reform UK leader will unveil plans to charge the wealthy £250,000 each if they move to the UK.In return, they would enjoy so-called “non-dom” status, which allows them to avoid paying tax in the UK on their overseas earnings – a perk scrapped by Labour.All of the money raised from the new policy would be given directly to around 2.5 million workers on low incomes, Farage will announce in a major speech on Monday.“Our policy is simple – Britain must be a place where success is celebrated, not punished with excessive taxes, crippling energy costs, or punitive inheritance levies,” Farage said.“We will actively encourage the return of wealth and talent to the United Kingdom, on the clear condition that those who come here deliver immediate, visible benefits to our workers.”But Labour said the policy was a “golden ticket for foreign billionaires to avoid the tax they owe in this country”.The party said it would reduce overall tax revenues for the Treasury, meaning it would have to be paid for by spending cuts in other areas.A Labour spokesperson said: “As ever with Reform, the devil is in the detail.“This giveaway would reduce revenues raised from the rich that would have to be made up elsewhere - through tax hikes on working families or through Farage’s promise to charge them to use the NHS.”Farage has previously been accused of “fantasy economics” over Reform’s plan to slash public spending by up to £400 billion a year if they win the next election.Related...'He Evidently Can't Add Up': Labour MP Mocks Nigel Farage In Brutal PMQs SlapdownRachel Reeves Monsters Nigel Farage For Backing Liz Truss's Disastrous Mini-BudgetReform's New Chairman Called Nigel Farage A 'Prejudiced Idiot' In An Unearthed Post

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