Britain’s Finances Are Broken — and Only Reform Will Fix Them
Delusion at the Treasury
Britain’s public finances are in a far worse state today than they were in the run-up to the 2024 general election. That is not an accident, and it is not the result of global forces alone. It is the direct consequence of years of mismanagement by the same two parties that have dominated British politics for decades.
Between them, the Conservatives and Labour have wrecked the economy — and the bill is now landing on the doorsteps of ordinary people.
A Record of Failure From Both Old Parties
The Conservatives ran 14 deficits in a row, near-tripled the national debt, and presided over policies that helped blow up people’s mortgages. After promising prudence, they left behind higher taxes, higher borrowing, and higher interest rates.
Labour, meanwhile, has proved to be even worse. In a short time, it has already borrowed £40 billion more than promised and pushed through tax rises at a pace not seen in 55 years. Families are squeezed, businesses are pessimistic, and savers are punished — all while ministers insist they are being “responsible”.
This is the economic doom loop Britain is trapped in: reckless spending, rising debt, higher borrowing costs, followed by yet more taxes.
Reform Will Restore the Public Finances
Reform UK is honest about the scale of the challenge.
We want to cut taxes — but we will not insult the public’s intelligence by pretending that huge tax cuts are realistic while the national debt is out of control. First, the finances must be fixed.
Reform will get public spending under control so that borrowing costs come down. Only once the state is living within its means can taxes be cut in a way that genuinely stimulates growth. Growth is not optional — it is the only route out of permanent decline.
Pro-Business, Pro-Work, Pro-Growth
Reform is unapologetically pro-business. We believe work should be rewarded, risk-taking encouraged, and success respected rather than resented.
That means rebuilding confidence — not just through policy, but through a change in culture around work, money, and enterprise. Britain cannot tax its way to prosperity, regulate its way to growth, or borrow its way to stability.
Crucially, Reform believes in putting competent people in charge — people with real experience and knowledge of the sectors they oversee. This country has not seen that consistently for many decades, and the results speak for themselves.
Practical, Targeted Policies That Help the Real Economy
Reform’s approach is not ideological — it is practical.
We would:
Immediately remove Inheritance Tax from family farms and family-run businesses, protecting those who create jobs and pass on productive assets.
Raise the thresholds at which people start to pay tax, beginning the process of freeing workers from the 16-hour-a-week debt trap that traps so many in low-paid, low-aspiration work.
These are targeted, sensible measures designed to reward effort and strengthen the productive economy.
Why Government Is Failing
Britain today is being run by a political class deeply disconnected from the real economy — dominated by career politicians and human rights lawyers whose priorities bear little resemblance to the challenges facing businesses and households.
Look no further than the continuing farce of HS2 Ltd: spiralling costs, endless delays, and no accountability. It is a case study in what happens when people who do not understand money are put in charge of vast sums of it.
Our current politicians are simply not good enough. They do not understand business. They do not understand risk. And they do not understand the damage caused by permanent uncertainty.
Reform Will Do Things Differently
Reform will not just think differently — we will govern differently.
If we win the next election, we will bring into government seasoned professionals as advisers or ministers: people who have actually built businesses, managed budgets, and delivered results in the real world. This will be the most pro-business, pro-entrepreneurship government Britain has seen in modern times.
Another Gloomy Budget Looms
Yet another depressing budget is coming into view: more tax rises, more tinkering, and still no courage to tackle runaway public spending.
The level of pessimism among businesses, savers, and people with assets of any kind has rarely been lower. Confidence is evaporating — and without confidence, investment dries up, growth stalls, and decline accelerates.
Britain does not need another budget that manages decline more “fairly”. It needs a clean break.
Reform offers that break: discipline before giveaways, growth before redistribution, competence before ideology. It is time to fix the finances — and give Britain a future again.