Nigel Farage's “fantastic” economics will lead to a Liz Truss-style economic collapse, Sir Keir Starmer will warn after the Reform UK leader sets out his party's proposals.
The UK prime minister is expected to urge citizens to reject Reform UK's calls to use “family finances” as a bargaining chip for “underfunded” tax breaks.
The announcement comes after the Institute for Fiscal Studies (IFS) reported that the party's pledge to increase the personal tax credit to £20,000 a year could cost between £50bn and £80bn annually.
Speaking at a press conference in central London on Tuesday, Mr Farage said his proposals were “aimed at British families” as he announced plans to scrap the two-child benefit cap and reverse winter fuel cuts.
In response to Mr Farage's comments, IFS deputy director Helen Miller said the claims for winter fuel payments and the two-child benefit cap were being “overshadowed” by the change to the personal tax credit.
Mr Starmer is expected to describe Mr Farage's policies as a “mad experiment” during a visit to meet workers at a manufacturing plant in the North West.
He will say: “In opposition we said Liz Truss would crash the economy and leave you with unpaid bills. We were right.
“And we were elected to fix this mess.
“Now in government we are faced with the same fantasy again – this time from Nigel Farage.
“Farage is making exactly the same bet as Liz Truss.
“That you can spend tens of billions on tax cuts without having a proper way to offset them.
“And just like Truss, he uses your family finances, your mortgages, your bills as chips in his crazy experiment.
“The result will be the same.
“Liz Truss put it all on the line and lost.
“£45 billion of unfunded tax breaks with no money to cover them.
“The markets reacted, the economy collapsed, and we are all still paying mortgages, rent and bills that are out of control.
“I won't let this happen.
“Labour's change plan has stabilised the economy,
Sourse: breakingnews.ie
