Reform UK promises radical tax cuts in a bid to win over disgruntled Tory voters.

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Reform UK has introduced bold tax cuts to further win over disgruntled Tory voters.

The former Brexit Party, founded by Nigel Farage, outlined plans to raise the threshold for imposing the higher 40p tax rate from 50,000 to 70,000.

As pressure continues to build on Rishi Sunak, the reforms also promise to raise the basic income tax rate threshold from 12,570 to 20,000.

And in one of the biggest tax overhauls in a generation, the party said it would raise stamp duty thresholds, abolish inheritance tax on assets under $2 million and cut corporation tax.

The Reform Party ate away at the Tory vote, winning 13% of the vote in Wellingborough and 10% in Kingswood.

(PA wire)

With support from less than a tenth of voters, the reform proposals are unlikely to ever come to fruition. But the proposal will serve as red meat for Conservatives angry at record high tax burdens and soaring immigration levels.

Pollsters have already warned that the reforms could cause chaos for the Conservatives in a general election expected this fall, splitting the right-wing vote into dozens of seats.

Any further gains among those who supported Boris Johnson's Conservatives in 2019 would add to Mr Sunak's electoral headaches even if the reforms do not win a single seat.

Richard Tice, who succeeded Farage as leader, launched his latest attack on the Conservatives ahead of a Doncaster rally aimed at putting reform on an electoral platform.

He wrote in the Daily Telegraph: The Tories have betrayed us all by raising taxes and wasting money. We should reward workers and those who try, not those who shirk or avoid.

Unfortunately, the UK is in dire straits and major reforms are urgently needed to save ourselves. I am making these points clear today as I begin my engagement with you at our spring conference in Doncaster.

Britain has so much potential. Our country is full of talent and energy. Brexit is an opportunity of a lifetime. But weak leadership and failed management pushed us to the brink.

He added: The Conservatives have broken Britain. Labor will bankrupt Britain. Starmergeddon awaits. None of them recognize how bad the situation is, nor do they have any credible plan to get us out of this mess.

The reforms first reached a poll support rating of around 10% in this month's Kingswood and Wellingborough by-elections, suggesting they are on their way to causing real problems for Mr Sunak.

Speculation is growing that Mr Farage, the party's honorary president, will take on an official campaign role in the reform election campaign. Mr Farage is seen as one of the country's smartest political activists, and his involvement with the party will only win over disgruntled Conservatives and Brexit supporters.

Mr Tice has previously pledged to stop mass immigration, repeal net zero measures and help solve the cost-of-living crisis.

Other policies promised in the party's manifesto include a 20% tax cut on private education and healthcare, a freeze on non-essential immigration and withdrawal from the European Convention on Human Rights.

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