Reform-linked thinktank ‘to call for big tax cuts for the rich’
Source: Guardian Econ ↗
A newly formed think‑tank, the Centre for a Better Britain (CFABB), linked to Nigel Farage’s Reform UK, is set to release a 200‑page policy blueprint that would call for sweeping tax cuts for the nation’s wealthiest taxpayers. According to Bloomberg, the draft proposes abolishing inheritance tax and phasing out capital gains tax—measures that would eliminate two of the Treasury’s most lucrative revenue streams, which generated £8.5 billion and a record £24 billion respectively in the 2024‑25 fiscal year. The document, due next week, also promises a “big bang 2.0” deregulation agenda for the financial services sector and a proposal to split the Treasury’s economic‑growth remit into a separate department, signalling a radical shift in Reform UK’s economic platform ahead of the next election.
The tax proposals emerge amid heightened scrutiny of Reform UK’s funding sources, particularly the recent £72 million in donations from crypto entrepreneurs Ben Delo and Christopher Harborne, each contributing £36 million within a 24‑hour window. Critics argue that such “mega‑donor” inflows could shape the party’s policy direction, especially as the think‑tank’s founder, former Reform chief operations officer Jonathan Brown, has previously advocated for curbing the authority of Britain’s courts and civil service—ideas reminiscent of the US “Project 2025” playbook. CFABB, which rebranded from Resolute 1850 in September after raising fresh capital, operates from Millbank Tower adjacent to Reform’s headquarters and counts former Reform head of policy James Orr as a former advisory‑board chair, though Orr was suspended from the party after an undercover investigation suggested involvement in a scheme to evade foreign‑donation rules.
CFABB’s spokesperson contested Bloomberg’s account, insisting the outlet was briefed on an early draft that does not reflect the final report and denying any “unfunded tax cuts” or a return to pre‑2008 regulatory frameworks. The spokesperson declined to specify which details were inaccurate but emphasized that the think‑tank will not be drawn into a point‑by‑point rebuttal. With a staff of only five, the centre’s influence appears amplified by its proximity to Reform UK and its role in shaping the party’s forthcoming platform, raising questions about how the proposed tax reforms and deregulation measures would affect public finances, the broader economy, and the political balance of power in Britain.
⚡ Effects Interpreter
🌍World Economymedium impact
What this means for you
- ▶The world's biggest economies tend to watch each other's data closely.
- ▶Forecasters often revise their outlook when data like this lands.
🏙️Local Economylow impact
What this means for you
- ▶Local hiring plans might firm up or soften as the wider trend becomes clear.
- ▶Wages and hiring nearby can bend with the wider economy.
🏦Rates & Bankslow impact
What this means for you
- ▶Banks tend to wait and see before nudging the rates they offer.
- ▶Savings accounts might see their rates nudged only after a broader trend emerges.
❤️Healthmedium impact
What this means for you
- ▶Talking things through with family or friends can ease the load.
- ▶The strain, if any, tends to show up subtly in everyday life.
💷Wealthmedium impact
What this means for you
- ▶It's a reasonable moment to check your investments are still on track.
- ▶Portfolios built for the long haul rarely need a rethink over one headline.
🏠Housinglow impact
What this means for you
- ▶A slow-moving market like housing rarely reacts overnight.
- ▶Mortgage shoppers could find deals shift only slightly in the short term.
🌍 Effects for your country
The U.S.'s central bank rate currently stands at 3.75%, so a global rates move like this could feed through to local borrowing costs. The U.S.'s economy is growing at 2.3% with inflation at 3.2%, the backdrop this story's effects play out against locally. Housing-market effects like this are usually felt most where mortgage rates track the U.S.'s own central bank rate closely. With the U.S.'s unemployment at 4.4%, personal-finance effects like this land on a labour market that is currently fairly stable. Health-system effects are harder to localise from economic indicators alone — the real impact in the U.S. depends more on local healthcare capacity than the figures above.
The UK's central bank rate currently stands at 3.75%, so a global rates move like this could feed through to local borrowing costs. The UK's economy is growing at 0.8% with inflation at 3.2%, the backdrop this story's effects play out against locally. Housing-market effects like this are usually felt most where mortgage rates track the UK's own central bank rate closely. With the UK's unemployment at 5.6%, personal-finance effects like this land on a labour market that is currently fairly stable. Health-system effects are harder to localise from economic indicators alone — the real impact in the UK depends more on local healthcare capacity than the figures above.
France's central bank rate currently stands at 2%, so a global rates move like this could feed through to local borrowing costs. France's economy is growing at 0.9% with inflation at 1.8%, the backdrop this story's effects play out against locally. Housing-market effects like this are usually felt most where mortgage rates track France's own central bank rate closely. With France's unemployment at 7.9%, personal-finance effects like this land on a labour market that is already under strain. Health-system effects are harder to localise from economic indicators alone — the real impact in France depends more on local healthcare capacity than the figures above.
Romania's central bank rate currently stands at 6.5%, so a global rates move like this could feed through to local borrowing costs. Romania's economy is growing at 0.7% with inflation at 7.8%, the backdrop this story's effects play out against locally. Housing-market effects like this are usually felt most where mortgage rates track Romania's own central bank rate closely. With Romania's unemployment at 6%, personal-finance effects like this land on a labour market that is currently fairly stable. Health-system effects are harder to localise from economic indicators alone — the real impact in Romania depends more on local healthcare capacity than the figures above.
The UAE's central bank rate currently stands at 3.65%, so a global rates move like this could feed through to local borrowing costs. The UAE's economy is growing at 3.1% with inflation at 2.5%, the backdrop this story's effects play out against locally. Housing-market effects like this are usually felt most where mortgage rates track the UAE's own central bank rate closely. Health-system effects are harder to localise from economic indicators alone — the real impact in the UAE depends more on local healthcare capacity than the figures above.