Reform Party proposes raising tax‑free personal allowance to £15,000

The governing party announced a new tax‑cut package that it says will be financed by a reduction in public spending of £80 billion. The proposal, unveiled in a statement to Parliament, targets a range of income‑tax thresholds and corporate rates, with the party asserting that the fiscal rebalancing will preserve overall budgetary discipline while delivering relief to households and businesses.

According to the party’s finance spokesperson, the £80 billion in cuts will be achieved through efficiency savings, a slowdown in the growth of welfare expenditures and the postponement of several capital‑investment projects. Treasury officials are expected to model the impact on the deficit and debt trajectory in the upcoming fiscal review. Opposition parties have questioned the feasibility of achieving the full saving without affecting public services, while economic analysts will assess whether the spending reductions offset the revenue loss from the tax cuts. The government maintains that the combined measures will support economic growth without increasing the national debt.